HUBAJU: 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.
HUBAJU
Largest movements
- Receivables within one year +€17,541
up €17,541 (+16.7%), from €105,216 to €122,757
- Cash -€14,890
down €14,890 (-47.1%), from €31,647 to €16,757
mainly Receivables within one year (-€17,541) and Contributions, distributions and other (-€6,000)
- Tangible fixed assets -€4,966
down €4,966 (-46.4%), from €10,707 to €5,741
- Profit (loss) carried forward +€17,006
up €17,006 (+22.0%), from -€77,443 to -€60,437
- Reserves -€6,000
down €6,000 (-76.3%), from €7,860 to €1,860
of which Distributable reserves: -€6,000
- Tax, wage and social debts -€5,798
down €5,798 (-97.5%), from €5,946 to €148
- Current portion of long-term debt -€3,558
down €3,558 (-82.8%), from €4,296 to €739
- Provisions -€2,804
down €2,804 (-1.4%), from €198,966 to €196,162
- Gross operating margin -€52,515
down €52,515 (-58.9%), from €89,116 to €36,601
- Staff costs -€5,555
no longer reported in 2025 (was €5,555)
- Financial charges -€2,195
down €2,195 (-12.0%), from €18,303 to €16,108
- Other operating charges +€908
up €908 (+150%), from €603 to €1,511
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 | €147,578 | €145,303 | -€2,275 | -1.5% |
| Fixed assets | 21/28 | €10,707 | €5,741 | -€4,966 | -46.4% |
| Tangible fixed assets | 22/27 | €10,707 | €5,741 | -€4,966 | -46.4% |
| Furniture and vehicles | 24 | €10,707 | €5,741 | -€4,966 | -46.4% |
| Current assets | 29/58 | €136,871 | €139,562 | +€2,692 | +2.0% |
| Amounts receivable within one year | 40/41 | €105,216 | €122,757 | +€17,541 | +16.7% |
| Other amounts receivable | 41 | €105,216 | €122,757 | +€17,541 | +16.7% |
| Cash at bank and in hand | 54/58 | €31,647 | €16,757 | -€14,890 | -47.1% |
| Deferred charges and accrued income | 490/1 | €7 | €48 | +€41 | +576% |
| Total equity and liabilities | 10/49 | €147,578 | €145,303 | -€2,275 | -1.5% |
| Equity | 10/15 | -€63,333 | -€52,327 | +€11,006 | +17.4% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Contributions outside capital | 11 | €6,250 | €6,250 | = | 0.0% |
| Other | 1109/19 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €7,860 | €1,860 | -€6,000 | -76.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €6,000 | - | -€6,000 | |
| Profit (loss) carried forward | 14 | -€77,443 | -€60,437 | +€17,006 | +22.0% |
| Provisions and deferred taxes | 16 | €198,966 | €196,162 | -€2,804 | -1.4% |
| Provisions for liabilities and charges | 160/5 | €198,966 | €196,162 | -€2,804 | -1.4% |
| Environmental obligations | 163 | €198,966 | €196,162 | -€2,804 | -1.4% |
| Amounts payable | 17/49 | €11,945 | €1,468 | -€10,476 | -87.7% |
| Amounts payable after more than one year | 17 | €739 | - | -€739 | |
| Financial debts | 170/4 | €739 | - | -€739 | |
| Amounts payable within one year | 42/48 | €11,206 | €1,468 | -€9,738 | -86.9% |
| Current portion of amounts payable after more than one year | 42 | €4,296 | €739 | -€3,558 | -82.8% |
| Trade debts | 44 | €826 | €444 | -€382 | -46.3% |
| Suppliers | 440/4 | €826 | €444 | -€382 | -46.3% |
| Taxes, remuneration and social security | 45 | €5,946 | €148 | -€5,798 | -97.5% |
| Remuneration and social security | 454/9 | €5,946 | €148 | -€5,798 | -97.5% |
| Other amounts payable | 47/48 | €138 | €138 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €5,555 | - | -€5,555 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,193 | €4,966 | +€773 | +18.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€2,651 | -€2,804 | -€154 | -5.8% |
| Other operating charges | 640/8 | €603 | €1,511 | +€908 | +150% |
| Non-recurring operating charges | 66A | €50,382 | - | -€50,382 | |
| Gross operating margin | 9900 | €89,116 | €36,601 | -€52,515 | -58.9% |
| Operating profit (loss) | 9901 | €31,034 | €32,928 | +€1,895 | +6.1% |
| Financial income | 75/76B | €8 | €185 | +€177 | +2,209% |
| Recurring financial income | 75 | €8 | €185 | +€177 | +2,209% |
| Financial charges | 65/66B | €18,303 | €16,108 | -€2,195 | -12.0% |
| Recurring financial charges | 65 | €18,303 | €16,108 | -€2,195 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | €12,739 | €17,006 | +€4,267 | +33.5% |
| Income taxes | 67/77 | €191 | - | -€191 | |
| Profit (loss) for the period | 9904 | €12,548 | €17,006 | +€4,458 | +35.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,548 | €17,006 | +€4,458 | +35.5% |
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 24 October 2026 via checked.be.