Hiruko: what changed
Two fiscal 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.
Hiruko
Largest movements
- Current investments -€75,000
down €75,000 (-42.9%), from €175,000 to €100,000
- Tangible fixed assets +€55,556
up €55,556 (+118.2%), from €46,987 to €102,544
of which Land and buildings: +€56,648
- Receivables within one year -€15,433
down €15,433 (-80.1%), from €19,262 to €3,829
of which Trade receivables: -€13,340
- Cash -€7,896
down €7,896 (-18.8%), from €42,108 to €34,212
mainly Investment in fixed assets (net) (-€62,111) and Net result for the year (-€45,850)
- Profit (loss) carried forward -€45,850
down €45,850, from €12,390 to -€33,460
- Debts after one year +€22,459
up €22,459 (+30.8%), from €73,000 to €95,459
- Other debts -€13,911
down €13,911 (-56.5%), from €24,604 to €10,693
- Tax, wage and social debts -€11,325
down €11,325 (-98.6%), from €11,490 to €165
of which Taxes: -€8,645
- Trade debts +€4,643
up €4,643 (+137.1%), from €3,386 to €8,029
- Gross operating margin -€92,724
down €92,724, from €56,781 to -€35,943
- Taxes -€14,621
no longer reported in 2025 (was €14,621)
- Financial income -€1,701
down €1,701 (-43.5%), from €3,910 to €2,208
- Depreciation +€1,586
up €1,586 (+31.9%), from €4,969 to €6,555
- Financial charges +€981
up €981 (+27.1%), from €3,613 to €4,594
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 | €283,872 | €240,877 | -€42,995 | -15.1% |
| Fixed assets | 21/28 | €47,187 | €102,744 | +€55,556 | +117.7% |
| Tangible fixed assets | 22/27 | €46,987 | €102,544 | +€55,556 | +118.2% |
| Land and buildings | 22 | €43,688 | €100,336 | +€56,648 | +129.7% |
| Furniture and vehicles | 24 | €3,299 | €2,207 | -€1,092 | -33.1% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €236,685 | €138,133 | -€98,552 | -41.6% |
| Amounts receivable within one year | 40/41 | €19,262 | €3,829 | -€15,433 | -80.1% |
| Trade receivables | 40 | €17,057 | €3,717 | -€13,340 | -78.2% |
| Other amounts receivable | 41 | €2,204 | €112 | -€2,093 | -94.9% |
| Current investments | 50/53 | €175,000 | €100,000 | -€75,000 | -42.9% |
| Cash at bank and in hand | 54/58 | €42,108 | €34,212 | -€7,896 | -18.8% |
| Deferred charges and accrued income | 490/1 | €315 | €92 | -€223 | -70.7% |
| Total equity and liabilities | 10/49 | €283,872 | €240,877 | -€42,995 | -15.1% |
| Equity | 10/15 | €168,085 | €122,234 | -€45,850 | -27.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €154,695 | €154,695 | = | 0.0% |
| Distributable reserves | 133 | €154,695 | €154,695 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,390 | -€33,460 | -€45,850 | |
| Amounts payable | 17/49 | €115,787 | €118,642 | +€2,855 | +2.5% |
| Amounts payable after more than one year | 17 | €73,000 | €95,459 | +€22,459 | +30.8% |
| Financial debts | 170/4 | €73,000 | €95,459 | +€22,459 | +30.8% |
| Amounts payable within one year | 42/48 | €39,481 | €18,888 | -€20,593 | -52.2% |
| Trade debts | 44 | €3,386 | €8,029 | +€4,643 | +137.1% |
| Suppliers | 440/4 | €3,386 | €8,029 | +€4,643 | +137.1% |
| Taxes, remuneration and social security | 45 | €11,490 | €165 | -€11,325 | -98.6% |
| Taxes | 450/3 | €8,810 | €165 | -€8,645 | -98.1% |
| Remuneration and social security | 454/9 | €2,680 | - | -€2,680 | |
| Other amounts payable | 47/48 | €24,604 | €10,693 | -€13,911 | -56.5% |
| Accrued charges and deferred income | 492/3 | €3,306 | €4,296 | +€989 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,969 | €6,555 | +€1,586 | +31.9% |
| Other operating charges | 640/8 | €298 | €966 | +€668 | +223.9% |
| Gross operating margin | 9900 | €56,781 | -€35,943 | -€92,724 | |
| Operating profit (loss) | 9901 | €51,514 | -€43,465 | -€94,979 | |
| Financial income | 75/76B | €3,910 | €2,208 | -€1,701 | -43.5% |
| Recurring financial income | 75 | €3,910 | €2,208 | -€1,701 | -43.5% |
| Financial charges | 65/66B | €3,613 | €4,594 | +€981 | +27.1% |
| Recurring financial charges | 65 | €3,613 | €4,594 | +€981 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | €51,810 | -€45,850 | -€97,660 | |
| Income taxes | 67/77 | €14,621 | - | -€14,621 | |
| Profit (loss) for the period | 9904 | €37,189 | -€45,850 | -€83,040 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,189 | -€45,850 | -€83,040 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.