HIKE UP: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
HIKE UP
Largest movements
- Receivables within one year +€111,941
up €111,941 (+230.6%), from €48,543 to €160,484
of which Trade receivables: +€99,232
- Cash +€35,342
up €35,342 (+58.5%), from €60,398 to €95,740
mainly Contributions, distributions and other (+€88,908) and Trade debts (+€41,957)
- Tangible fixed assets -€20,744
down €20,744 (-37.7%), from €55,048 to €34,304
- Intangible fixed assets +€20,590
up €20,590 (+43.8%), from €46,993 to €67,583
- Deferred charges and accrued income +€9,480
up €9,480 (+556.3%), from €1,704 to €11,184
- Contributions +€88,908
up €88,908 (+5355.9%), from €1,660 to €90,568
- Trade debts +€41,957
up €41,957 (+235.9%), from €17,789 to €59,746
- Current portion of long-term debt +€36,570
up €36,570 (+220.2%), from €16,606 to €53,176
- Debts after one year -€13,436
down €13,436 (-37.7%), from €35,670 to €22,234
- Profit (loss) carried forward +€4,415
up €4,415 (+10.1%), from €43,557 to €47,972
- Gross operating margin +€123,129
up €123,129 (+35.9%), from €342,596 to €465,725
- Staff costs +€99,102
up €99,102 (+31.6%), from €313,593 to €412,695
- Depreciation +€16,377
up €16,377 (+93.9%), from €17,448 to €33,825
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €212,786 | €369,395 | +€156,609 | +73.6% |
| Fixed assets | 21/28 | €102,041 | €101,887 | -€154 | -0.2% |
| Intangible fixed assets | 21 | €46,993 | €67,583 | +€20,590 | +43.8% |
| Tangible fixed assets | 22/27 | €55,048 | €34,304 | -€20,744 | -37.7% |
| Furniture and vehicles | 24 | €55,048 | €34,304 | -€20,744 | -37.7% |
| Current assets | 29/58 | €110,745 | €267,508 | +€156,763 | +141.6% |
| Amounts receivable within one year | 40/41 | €48,543 | €160,484 | +€111,941 | +230.6% |
| Trade receivables | 40 | €45,646 | €144,878 | +€99,232 | +217.4% |
| Other amounts receivable | 41 | €2,897 | €15,606 | +€12,709 | +438.7% |
| Current investments | 50/53 | €100 | €100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €60,398 | €95,740 | +€35,342 | +58.5% |
| Deferred charges and accrued income | 490/1 | €1,704 | €11,184 | +€9,480 | +556.3% |
| Total equity and liabilities | 10/49 | €212,786 | €369,395 | +€156,609 | +73.6% |
| Equity | 10/15 | €45,317 | €138,640 | +€93,323 | +205.9% |
| Contributions | 10/11 | €1,660 | €90,568 | +€88,908 | +5355.9% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Own shares acquired | 1312 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,557 | €47,972 | +€4,415 | +10.1% |
| Amounts payable | 17/49 | €167,469 | €230,755 | +€63,286 | +37.8% |
| Amounts payable after more than one year | 17 | €35,670 | €22,234 | -€13,436 | -37.7% |
| Financial debts | 170/4 | €35,670 | €22,234 | -€13,436 | -37.7% |
| Amounts payable within one year | 42/48 | €131,799 | €208,521 | +€76,722 | +58.2% |
| Current portion of amounts payable after more than one year | 42 | €16,606 | €53,176 | +€36,570 | +220.2% |
| Trade debts | 44 | €17,789 | €59,746 | +€41,957 | +235.9% |
| Suppliers | 440/4 | €17,789 | €59,746 | +€41,957 | +235.9% |
| Taxes, remuneration and social security | 45 | €95,956 | €95,599 | -€357 | -0.4% |
| Taxes | 450/3 | €37,019 | €26,732 | -€10,287 | -27.8% |
| Remuneration and social security | 454/9 | €58,937 | €68,867 | +€9,930 | +16.8% |
| Other amounts payable | 47/48 | €1,448 | - | -€1,448 | |
| Remuneration, social security and pensions | 62 | €313,593 | €412,695 | +€99,102 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,448 | €33,825 | +€16,377 | +93.9% |
| Other operating charges | 640/8 | €1,066 | €746 | -€320 | -30.0% |
| Non-recurring operating charges | 66A | €3,566 | - | -€3,566 | |
| Gross operating margin | 9900 | €342,596 | €465,725 | +€123,129 | +35.9% |
| Operating profit (loss) | 9901 | €6,923 | €18,459 | +€11,536 | +166.6% |
| Financial income | 75/76B | €78 | - | -€78 | |
| Recurring financial income | 75 | €78 | - | -€78 | |
| Financial charges | 65/66B | €2,692 | €5,828 | +€3,136 | +116.5% |
| Recurring financial charges | 65 | €2,692 | €5,828 | +€3,136 | +116.5% |
| Profit (loss) for the period before taxes | 9903 | €4,309 | €12,631 | +€8,322 | +193.2% |
| Income taxes | 67/77 | €7,492 | €8,216 | +€724 | +9.7% |
| Profit (loss) for the period | 9904 | -€3,183 | €4,415 | +€7,598 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,183 | €4,415 | +€7,598 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.