HIRUNDO: what changed
What changed
HIRUNDO
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
-€66,070
2024 · -€86,967+€20,897
Equity
€57,854
2024 · €123,925-€66,070
Cash
€13,776
2024 · €7,954+€5,822
Balance sheet total
€2.0m
2024 · €1.8m+€119,009
Largest movements
Assets
- Tangible fixed assets +€135,176
up €135,176 (+8.1%), from €1.7m to €1.8m
of which Land and buildings: +€160,610
- Financial fixed assets -€21,413
down €21,413 (-21.3%), from €100,660 to €79,247
Equity and liabilities
- Debts after one year +€80,431
up €80,431 (+5.1%), from €1.6m to €1.7m
- Other debts +€68,230
new in 2025: €68,230
- Profit (loss) carried forward -€66,070
down €66,070 (-39.7%), from -€166,513 to -€232,583
- Short-term financial debts +€30,038
up €30,038 (+56.4%), from €53,255 to €83,293
Income statement
- Gross operating margin +€65,592
up €65,592 (+62.1%), from €105,579 to €171,171
- Depreciation +€13,050
up €13,050 (+15.2%), from €85,721 to €98,772
- Staff costs +€5,511
up €5,511 (+8.9%), from €62,232 to €67,743
- Other operating charges +€4,963
up €4,963 (+134%), from €3,698 to €8,662
- Financial charges +€4,516
up €4,516 (+11.0%), from €41,138 to €45,654
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€86,967
Gross operating margin
+€65,592
Staff costs
-€5,511
Depreciation
-€13,050
Other operating charges
-€4,963
Other operating items
-€17,400
Financial income
+€774
Financial charges
-€4,516
Taxes
-€29
Result 2025
-€66,070
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€109,373
Investment
-€214,747
Financing
+€111,195
Cash 2024
€7,954
From operations (derived)
+€109,373
Net result for the year
-€66,070
Depreciation
+€98,772
Receivables within one year
+€6,139
Deferred charges and accrued income
-€3,352
Trade debts
+€6,567
Tax, wage and social debts
-€913
Other debts
+€68,230
Investment (derived)
-€214,747
Investment in fixed assets (net)
-€214,747
Financing
+€111,195
Debts after one year
+€80,431
Current portion of long-term debt
+€727
Short-term financial debts
+€30,038
Cash 2025
€13,776
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,839,381 | €1,958,391 | +€119,009 | +6.5% |
| Fixed assets | 21/28 | €1,780,607 | €1,896,582 | +€115,975 | +6.5% |
| Intangible fixed assets | 21 | €3,813 | €6,025 | +€2,212 | +58.0% |
| Tangible fixed assets | 22/27 | €1,676,134 | €1,811,310 | +€135,176 | +8.1% |
| Land and buildings | 22 | €1,533,266 | €1,693,875 | +€160,610 | +10.5% |
| Plant, machinery and equipment | 23 | €110,206 | €90,560 | -€19,646 | -17.8% |
| Furniture and vehicles | 24 | €26,286 | €23,237 | -€3,048 | -11.6% |
| Other tangible fixed assets | 26 | €6,378 | €3,638 | -€2,739 | -43.0% |
| Financial fixed assets | 28 | €100,660 | €79,247 | -€21,413 | -21.3% |
| Current assets | 29/58 | €58,774 | €61,809 | +€3,034 | +5.2% |
| Amounts receivable within one year | 40/41 | €50,356 | €44,217 | -€6,139 | -12.2% |
| Trade receivables | 40 | €34,453 | €38,411 | +€3,959 | +11.5% |
| Other amounts receivable | 41 | €15,904 | €5,806 | -€10,098 | -63.5% |
| Cash at bank and in hand | 54/58 | €7,954 | €13,776 | +€5,822 | +73.2% |
| Deferred charges and accrued income | 490/1 | €464 | €3,816 | +€3,352 | +723% |
| Total equity and liabilities | 10/49 | €1,839,381 | €1,958,391 | +€119,009 | +6.5% |
| Equity | 10/15 | €123,925 | €57,854 | -€66,070 | -53.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €271,837 | €271,837 | = | 0.0% |
| Tax-exempt reserves | 132 | €117,122 | €117,122 | = | 0.0% |
| Distributable reserves | 133 | €154,716 | €154,716 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,513 | -€232,583 | -€66,070 | -39.7% |
| Amounts payable | 17/49 | €1,715,457 | €1,900,537 | +€185,080 | +10.8% |
| Amounts payable after more than one year | 17 | €1,592,020 | €1,672,451 | +€80,431 | +5.1% |
| Financial debts | 170/4 | €1,592,020 | €1,672,451 | +€80,431 | +5.1% |
| Amounts payable within one year | 42/48 | €123,437 | €228,086 | +€104,649 | +84.8% |
| Current portion of amounts payable after more than one year | 42 | €43,842 | €44,569 | +€727 | +1.7% |
| Financial debts | 43 | €53,255 | €83,293 | +€30,038 | +56.4% |
| Other loans | 439 | €53,255 | €83,293 | +€30,038 | +56.4% |
| Trade debts | 44 | €5,951 | €12,518 | +€6,567 | +110% |
| Suppliers | 440/4 | €5,951 | €12,518 | +€6,567 | +110% |
| Taxes, remuneration and social security | 45 | €20,389 | €19,476 | -€913 | -4.5% |
| Taxes | 450/3 | €11,339 | €9,385 | -€1,954 | -17.2% |
| Remuneration and social security | 454/9 | €9,050 | €10,091 | +€1,041 | +11.5% |
| Other amounts payable | 47/48 | - | €68,230 | +€68,230 | |
| Remuneration, social security and pensions | 62 | €62,232 | €67,743 | +€5,511 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,721 | €98,772 | +€13,050 | +15.2% |
| Other operating charges | 640/8 | €3,698 | €8,662 | +€4,963 | +134% |
| Non-recurring operating charges | 66A | - | €17,400 | +€17,400 | |
| Gross operating margin | 9900 | €105,579 | €171,171 | +€65,592 | +62.1% |
| Operating profit (loss) | 9901 | -€46,073 | -€21,405 | +€24,667 | +53.5% |
| Financial income | 75/76B | €385 | €1,160 | +€774 | +201% |
| Recurring financial income | 75 | €385 | €1,160 | +€774 | +201% |
| Financial charges | 65/66B | €41,138 | €45,654 | +€4,516 | +11.0% |
| Recurring financial charges | 65 | €41,138 | €45,654 | +€4,516 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | -€86,825 | -€65,900 | +€20,926 | +24.1% |
| Income taxes | 67/77 | €142 | €171 | +€29 | +20.3% |
| Profit (loss) for the period | 9904 | -€86,967 | -€66,070 | +€20,897 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€86,967 | -€66,070 | +€20,897 | +24.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.