Hub Cycling: 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.
Hub Cycling
Largest movements
- Receivables within one year -€1,586
down €1,586 (-74.1%), from €2,141 to €555
of which Trade receivables: -€1,847
- Tangible fixed assets -€821
down €821 (-43.3%), from €1,894 to €1,074
- Financial fixed assets -€390
no longer reported in 2025 (was €390)
- Cash +€139
up €139 (+15.6%), from €892 to €1,031
mainly Receivables within one year (+€1,586) and Depreciation (+€821)
- Profit (loss) carried forward -€2,195
down €2,195 (-36.1%), from -€6,085 to -€8,280
- Tax, wage and social debts -€932
no longer reported in 2025 (was €932)
- Other debts +€452
up €452 (+16.2%), from €2,792 to €3,243
- Other operating charges -€14,901
down €14,901 (-98.0%), from €15,200 to €299
- Gross operating margin -€12,394
down €12,394, from €11,433 to -€961
- Depreciation -€926
down €926 (-53.0%), from €1,747 to €821
- Write-downs -€484
no longer reported in 2025 (was €484)
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 | €5,316 | €2,659 | -€2,658 | -50.0% |
| Fixed assets | 21/28 | €2,284 | €1,074 | -€1,211 | -53.0% |
| Tangible fixed assets | 22/27 | €1,894 | €1,074 | -€821 | -43.3% |
| Furniture and vehicles | 24 | €1,894 | €1,074 | -€821 | -43.3% |
| Financial fixed assets | 28 | €390 | - | -€390 | |
| Current assets | 29/58 | €3,032 | €1,585 | -€1,447 | -47.7% |
| Amounts receivable within one year | 40/41 | €2,141 | €555 | -€1,586 | -74.1% |
| Trade receivables | 40 | €2,044 | €197 | -€1,847 | -90.3% |
| Other amounts receivable | 41 | €96 | €357 | +€261 | +271% |
| Cash at bank and in hand | 54/58 | €892 | €1,031 | +€139 | +15.6% |
| Total equity and liabilities | 10/49 | €5,316 | €2,659 | -€2,658 | -50.0% |
| Equity | 10/15 | €1,415 | -€780 | -€2,195 | |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,085 | -€8,280 | -€2,195 | -36.1% |
| Amounts payable | 17/49 | €3,902 | €3,439 | -€463 | -11.9% |
| Amounts payable within one year | 42/48 | €3,902 | €3,439 | -€463 | -11.9% |
| Financial debts | 43 | €14 | - | -€14 | |
| Credit institutions | 430/8 | €14 | - | -€14 | |
| Trade debts | 44 | €165 | €196 | +€31 | +18.8% |
| Suppliers | 440/4 | €165 | €196 | +€31 | +18.8% |
| Taxes, remuneration and social security | 45 | €932 | - | -€932 | |
| Taxes | 450/3 | €932 | - | -€932 | |
| Other amounts payable | 47/48 | €2,792 | €3,243 | +€452 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,747 | €821 | -€926 | -53.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €484 | - | -€484 | |
| Other operating charges | 640/8 | €15,200 | €299 | -€14,901 | -98.0% |
| Gross operating margin | 9900 | €11,433 | -€961 | -€12,394 | |
| Operating profit (loss) | 9901 | -€5,998 | -€2,081 | +€3,917 | +65.3% |
| Financial charges | 65/66B | €87 | €114 | +€27 | +30.5% |
| Recurring financial charges | 65 | €87 | €114 | +€27 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,085 | -€2,195 | +€3,891 | +63.9% |
| Profit (loss) for the period | 9904 | -€6,085 | -€2,195 | +€3,891 | +63.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,085 | -€2,195 | +€3,891 | +63.9% |
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 29 October 2026 via checked.be.