HUBEAU: 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.
HUBEAU
Largest movements
- Receivables within one year +€72,104
up €72,104 (+21.9%), from €329,449 to €401,554
of which Other amounts receivable: +€92,674
- Cash +€31,950
up €31,950 (+196%), from €16,335 to €48,285
mainly Net result for the year (+€72,037) and Tax, wage and social debts (+€42,038)
- Tangible fixed assets -€8,746
down €8,746 (-33.0%), from €26,508 to €17,763
of which Plant, machinery and equipment: -€6,499
- Reserves +€72,037
up €72,037 (+79.1%), from €91,102 to €163,140
- Tax, wage and social debts +€42,038
up €42,038 (+188%), from €22,334 to €64,372
of which Taxes: +€40,292
- Advances received -€16,328
no longer reported in 2025 (was €16,328)
- Short-term financial debts -€7,500
down €7,500 (-42.9%), from €17,500 to €10,000
- Taxes +€27,048
up €27,048 (+406%), from €6,663 to €33,711
- Gross operating margin +€25,222
up €25,222 (+13.8%), from €182,356 to €207,578
- Write-downs +€25,158
new in 2025: €25,158
- Staff costs +€18,671
up €18,671 (+47.9%), from €39,004 to €57,675
- Other operating charges -€16,985
down €16,985 (-61.2%), from €27,744 to €10,759
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 | €386,236 | €484,329 | +€98,093 | +25.4% |
| Fixed assets | 21/28 | €27,253 | €18,573 | -€8,681 | -31.9% |
| Tangible fixed assets | 22/27 | €26,508 | €17,763 | -€8,746 | -33.0% |
| Plant, machinery and equipment | 23 | €15,841 | €9,342 | -€6,499 | -41.0% |
| Furniture and vehicles | 24 | €3,560 | €2,254 | -€1,306 | -36.7% |
| Other tangible fixed assets | 26 | €7,108 | €6,167 | -€941 | -13.2% |
| Financial fixed assets | 28 | €745 | €810 | +€65 | +8.7% |
| Current assets | 29/58 | €358,983 | €465,757 | +€106,774 | +29.7% |
| Stocks and contracts in progress | 3 | €8,914 | €8,115 | -€799 | -9.0% |
| Stocks | 30/36 | €8,914 | €8,115 | -€799 | -9.0% |
| Amounts receivable within one year | 40/41 | €329,449 | €401,554 | +€72,104 | +21.9% |
| Trade receivables | 40 | €111,011 | €90,441 | -€20,570 | -18.5% |
| Other amounts receivable | 41 | €218,439 | €311,113 | +€92,674 | +42.4% |
| Cash at bank and in hand | 54/58 | €16,335 | €48,285 | +€31,950 | +196% |
| Deferred charges and accrued income | 490/1 | €4,284 | €7,803 | +€3,518 | +82.1% |
| Total equity and liabilities | 10/49 | €386,236 | €484,329 | +€98,093 | +25.4% |
| Equity | 10/15 | €149,702 | €221,740 | +€72,037 | +48.1% |
| Contributions | 10/11 | €58,600 | €58,600 | = | 0.0% |
| Contributions outside capital | 11 | €58,600 | €58,600 | = | 0.0% |
| Other | 1109/19 | €58,600 | €58,600 | = | 0.0% |
| Reserves | 13 | €91,102 | €163,140 | +€72,037 | +79.1% |
| Distributable reserves | 133 | €91,102 | €163,140 | +€72,037 | +79.1% |
| Amounts payable | 17/49 | €236,534 | €262,590 | +€26,056 | +11.0% |
| Amounts payable after more than one year | 17 | €35,942 | €40,781 | +€4,839 | +13.5% |
| Financial debts | 170/4 | €35,942 | €40,781 | +€4,839 | +13.5% |
| Amounts payable within one year | 42/48 | €185,783 | €203,815 | +€18,032 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €32,000 | €32,725 | +€725 | +2.3% |
| Financial debts | 43 | €17,500 | €10,000 | -€7,500 | -42.9% |
| Credit institutions | 430/8 | €17,500 | €10,000 | -€7,500 | -42.9% |
| Trade debts | 44 | €97,622 | €96,718 | -€904 | -0.9% |
| Suppliers | 440/4 | €97,622 | €96,718 | -€904 | -0.9% |
| Advances received on contracts in progress | 46 | €16,328 | - | -€16,328 | |
| Taxes, remuneration and social security | 45 | €22,334 | €64,372 | +€42,038 | +188% |
| Taxes | 450/3 | €19,958 | €60,250 | +€40,292 | +202% |
| Remuneration and social security | 454/9 | €2,376 | €4,122 | +€1,746 | +73.5% |
| Accrued charges and deferred income | 492/3 | €14,808 | €17,994 | +€3,185 | +21.5% |
| Remuneration, social security and pensions | 62 | €39,004 | €57,675 | +€18,671 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,633 | €12,817 | -€8,816 | -40.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,158 | +€25,158 | |
| Other operating charges | 640/8 | €27,744 | €10,759 | -€16,985 | -61.2% |
| Gross operating margin | 9900 | €182,356 | €207,578 | +€25,222 | +13.8% |
| Operating profit (loss) | 9901 | €93,976 | €101,169 | +€7,194 | +7.7% |
| Financial income | 75/76B | €6,609 | €13,745 | +€7,136 | +108% |
| Recurring financial income | 75 | €6,609 | €13,745 | +€7,136 | +108% |
| Financial charges | 65/66B | €7,772 | €9,166 | +€1,394 | +17.9% |
| Recurring financial charges | 65 | €7,772 | €9,166 | +€1,394 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €92,813 | €105,748 | +€12,935 | +13.9% |
| Income taxes | 67/77 | €6,663 | €33,711 | +€27,048 | +406% |
| Profit (loss) for the period | 9904 | €86,151 | €72,037 | -€14,113 | -16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €86,151 | €72,037 | -€14,113 | -16.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.