HIRO: 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.
HIRO
Largest movements
- Tangible fixed assets +€134,214
up €134,214 (+250%), from €53,629 to €187,844
of which Other tangible fixed assets: +€130,220
- Stocks and contracts +€98,428
up €98,428 (+167%), from €58,770 to €157,198
- Cash +€26,986
up €26,986 (+491%), from €5,500 to €32,486
mainly Trade debts (+€106,101) and Other debts (+€51,035)
- Receivables within one year +€20,113
up €20,113 (+365%), from €5,509 to €25,622
of which Other amounts receivable: +€23,856
- Intangible fixed assets -€17,027
down €17,027 (-20.0%), from €85,089 to €68,062
- Trade debts +€106,101
up €106,101 (+162%), from €65,477 to €171,578
- Other debts +€51,035
up €51,035 (+85.1%), from €60,000 to €111,035
- Current portion of long-term debt +€50,414
new in 2025: €50,414
- Tax, wage and social debts +€22,493
up €22,493 (+87.3%), from €25,769 to €48,262
of which Remuneration and social security: +€17,874
- Short-term financial debts +€19,787
up €19,787 (+3,091%), from €640 to €20,427
- Staff costs +€216,263
up €216,263 (+415%), from €52,123 to €268,387
- Gross operating margin +€159,230
up €159,230 (+86.1%), from €184,991 to €344,220
- Depreciation +€24,491
up €24,491 (+2,261%), from €1,083 to €25,575
- Financial charges +€23,038
up €23,038, from -€612 to €22,425
- Taxes -€7,594
down €7,594 (-52.1%), from €14,573 to €6,979
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.
Derived cash bridge
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 | €208,678 | €477,558 | +€268,880 | +129% |
| Fixed assets | 21/28 | €138,898 | €256,941 | +€118,043 | +85.0% |
| Intangible fixed assets | 21 | €85,089 | €68,062 | -€17,027 | -20.0% |
| Tangible fixed assets | 22/27 | €53,629 | €187,844 | +€134,214 | +250% |
| Plant, machinery and equipment | 23 | €8,020 | €13,098 | +€5,078 | +63.3% |
| Furniture and vehicles | 24 | €2,819 | €1,736 | -€1,083 | -38.4% |
| Other tangible fixed assets | 26 | €42,790 | €173,010 | +€130,220 | +304% |
| Financial fixed assets | 28 | €180 | €1,036 | +€856 | +476% |
| Current assets | 29/58 | €69,780 | €220,617 | +€150,837 | +216% |
| Stocks and contracts in progress | 3 | €58,770 | €157,198 | +€98,428 | +167% |
| Stocks | 30/36 | €58,770 | €157,198 | +€98,428 | +167% |
| Amounts receivable within one year | 40/41 | €5,509 | €25,622 | +€20,113 | +365% |
| Trade receivables | 40 | €4,705 | €962 | -€3,743 | -79.6% |
| Other amounts receivable | 41 | €805 | €24,660 | +€23,856 | +2,965% |
| Cash at bank and in hand | 54/58 | €5,500 | €32,486 | +€26,986 | +491% |
| Deferred charges and accrued income | 490/1 | - | €5,311 | +€5,311 | |
| Total equity and liabilities | 10/49 | €208,678 | €477,558 | +€268,880 | +129% |
| Equity | 10/15 | €56,792 | €75,842 | +€19,050 | +33.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,792 | €74,842 | +€19,050 | +34.1% |
| Amounts payable | 17/49 | €151,886 | €401,716 | +€249,830 | +164% |
| Amounts payable within one year | 42/48 | €151,886 | €401,716 | +€249,830 | +164% |
| Current portion of amounts payable after more than one year | 42 | - | €50,414 | +€50,414 | |
| Financial debts | 43 | €640 | €20,427 | +€19,787 | +3,091% |
| Credit institutions | 430/8 | €640 | €20,427 | +€19,787 | +3,091% |
| Trade debts | 44 | €65,477 | €171,578 | +€106,101 | +162% |
| Suppliers | 440/4 | €65,477 | €171,578 | +€106,101 | +162% |
| Taxes, remuneration and social security | 45 | €25,769 | €48,262 | +€22,493 | +87.3% |
| Taxes | 450/3 | €22,369 | €26,988 | +€4,618 | +20.6% |
| Remuneration and social security | 454/9 | €3,399 | €21,274 | +€17,874 | +526% |
| Other amounts payable | 47/48 | €60,000 | €111,035 | +€51,035 | +85.1% |
| Remuneration, social security and pensions | 62 | €52,123 | €268,387 | +€216,263 | +415% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,083 | €25,575 | +€24,491 | +2,261% |
| Other operating charges | 640/8 | €704 | €1,813 | +€1,108 | +157% |
| Non-recurring operating charges | 66A | €1,500 | €0 | -€1,500 | -100% |
| Gross operating margin | 9900 | €184,991 | €344,220 | +€159,230 | +86.1% |
| Operating profit (loss) | 9901 | €129,580 | €48,447 | -€81,133 | -62.6% |
| Financial income | 75/76B | €173 | €8 | -€165 | -95.6% |
| Recurring financial income | 75 | €173 | €8 | -€165 | -95.6% |
| Financial charges | 65/66B | -€612 | €22,425 | +€23,038 | |
| Recurring financial charges | 65 | -€612 | €22,425 | +€23,038 | |
| Profit (loss) for the period before taxes | 9903 | €130,365 | €26,029 | -€104,336 | -80.0% |
| Income taxes | 67/77 | €14,573 | €6,979 | -€7,594 | -52.1% |
| Profit (loss) for the period | 9904 | €115,792 | €19,050 | -€96,742 | -83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €115,792 | €19,050 | -€96,742 | -83.5% |
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 15 October 2026 via checked.be.