Hirano: 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.
Hirano
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Depreciation -€101,462
no longer reported in 2025 (was €101,462)
- Services and other goods -€54,969
no longer reported in 2025 (was €54,969)
- Gross operating margin -€4,852
new in 2025: -€4,852
- Financial charges +€1,454
up €1,454 (+2195.2%), from €66 to €1,521
- Financial income -€1,182
down €1,182 (-71.8%), from €1,645 to €463
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 | €1,523,465 | €1,521,850 | -€1,615 | -0.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,501,151 | €1,500,000 | -€1,151 | -0.1% |
| Financial fixed assets | 28 | €1,501,151 | €1,500,000 | -€1,151 | -0.1% |
| Affiliated companies | 280/1 | €1,387,500 | - | -€1.4m | |
| Participating interests | 280 | €1,387,500 | - | -€1.4m | |
| Other financial fixed assets | 284/8 | €113,651 | - | -€113,651 | |
| Amounts receivable and cash guarantees | 285/8 | €113,651 | - | -€113,651 | |
| Current assets | 29/58 | €22,314 | €21,850 | -€463 | -2.1% |
| Amounts receivable within one year | 40/41 | - | €493 | +€493 | |
| Other amounts receivable | 41 | - | €493 | +€493 | |
| Cash at bank and in hand | 54/58 | €22,314 | €20,222 | -€2,092 | -9.4% |
| Deferred charges and accrued income | 490/1 | - | €1,135 | +€1,135 | |
| Total equity and liabilities | 10/49 | €1,523,465 | €1,521,850 | -€1,615 | -0.1% |
| Equity | 10/15 | €1,343,465 | €1,337,367 | -€6,098 | -0.5% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€156,535 | -€162,633 | -€6,098 | -3.9% |
| Amounts payable | 17/49 | €180,000 | €184,483 | +€4,483 | +2.5% |
| Amounts payable within one year | 42/48 | €180,000 | €184,483 | +€4,483 | +2.5% |
| Trade debts | 44 | - | €4,483 | +€4,483 | |
| Suppliers | 440/4 | - | €4,483 | +€4,483 | |
| Other amounts payable | 47/48 | €180,000 | €180,000 | = | 0.0% |
| Operating charges | 60/66A | €157,620 | - | -€157,620 | |
| Services and other goods | 61 | €54,969 | - | -€54,969 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,462 | - | -€101,462 | |
| Other operating charges | 640/8 | €1,190 | €544 | -€646 | -54.3% |
| Gross operating margin | 9900 | - | -€4,852 | -€4,852 | |
| Operating profit (loss) | 9901 | -€157,620 | -€5,395 | +€152,225 | +96.6% |
| Financial income | 75/76B | €1,645 | €463 | -€1,182 | -71.8% |
| Recurring financial income | 75 | €1,645 | €463 | -€1,182 | -71.8% |
| Income from current assets | 751 | €1,645 | - | -€1,645 | |
| Financial charges | 65/66B | €66 | €1,521 | +€1,454 | +2195.2% |
| Recurring financial charges | 65 | €66 | €1,521 | +€1,454 | +2195.2% |
| Other financial charges | 652/9 | €66 | - | -€66 | |
| Profit (loss) for the period before taxes | 9903 | -€156,041 | -€6,453 | +€149,588 | +95.9% |
| Income taxes | 67/77 | €493 | -€355 | -€848 | |
| Taxes | 670/3 | €493 | - | -€493 | |
| Profit (loss) for the period | 9904 | -€156,535 | -€6,098 | +€150,436 | +96.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€156,535 | -€6,098 | +€150,436 | +96.1% |
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 10 October 2026 via checked.be.