HUBERT-DEBARSY: 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.
HUBERT-DEBARSY
Largest movements
- Tangible fixed assets +€50,860
up €50,860, from €0 to €50,860
of which Leasing and similar rights: +€37,610
- Reserves +€88,112
up €88,112 (+23.8%), from €369,762 to €457,874
- Debts after one year -€49,013
down €49,013 (-10.4%), from €470,324 to €421,311
of which Financial debts: -€48,371
- Current portion of long-term debt +€10,826
up €10,826 (+14.4%), from €75,287 to €86,113
- Gross operating margin +€12,157
up €12,157 (+135%), from €9,021 to €21,178
- Depreciation +€7,855
up €7,855 (+2,581%), from €304 to €8,159
- Financial charges -€954
down €954 (-7.9%), from €12,020 to €11,066
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 | €980,294 | €1,030,049 | +€49,755 | +5.1% |
| Fixed assets | 21/28 | €975,000 | €1,025,860 | +€50,860 | +5.2% |
| Tangible fixed assets | 22/27 | €0 | €50,860 | +€50,860 | |
| Furniture and vehicles | 24 | €0 | €13,250 | +€13,250 | |
| Leasing and similar rights | 25 | - | €37,610 | +€37,610 | |
| Financial fixed assets | 28 | €975,000 | €975,000 | = | 0.0% |
| Current assets | 29/58 | €5,294 | €4,188 | -€1,105 | -20.9% |
| Amounts receivable within one year | 40/41 | €5 | €0 | -€5 | -100% |
| Other amounts receivable | 41 | €5 | €0 | -€5 | -100% |
| Cash at bank and in hand | 54/58 | €1,444 | €74 | -€1,370 | -94.9% |
| Deferred charges and accrued income | 490/1 | €3,845 | €4,114 | +€269 | +7.0% |
| Total equity and liabilities | 10/49 | €980,294 | €1,030,049 | +€49,755 | +5.1% |
| Equity | 10/15 | €424,762 | €512,874 | +€88,112 | +20.7% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €369,762 | €457,874 | +€88,112 | +23.8% |
| Distributable reserves | 133 | €369,762 | €457,874 | +€88,112 | +23.8% |
| Amounts payable | 17/49 | €555,531 | €517,174 | -€38,357 | -6.9% |
| Amounts payable after more than one year | 17 | €470,324 | €421,311 | -€49,013 | -10.4% |
| Financial debts | 170/4 | €307,389 | €259,018 | -€48,371 | -15.7% |
| Other amounts payable | 178/9 | €162,935 | €162,293 | -€642 | -0.4% |
| Amounts payable within one year | 42/48 | €84,240 | €94,864 | +€10,624 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €75,287 | €86,113 | +€10,826 | +14.4% |
| Financial debts | 43 | €5,302 | €5,286 | -€16 | -0.3% |
| Credit institutions | 430/8 | €5,302 | €5,286 | -€16 | -0.3% |
| Trade debts | 44 | €164 | €26 | -€138 | -84.1% |
| Suppliers | 440/4 | €164 | €26 | -€138 | -84.1% |
| Taxes, remuneration and social security | 45 | €3,487 | €3,439 | -€48 | -1.4% |
| Taxes | 450/3 | €3,487 | €3,439 | -€48 | -1.4% |
| Accrued charges and deferred income | 492/3 | €968 | €1,000 | +€32 | +3.4% |
| Non-recurring operating income | 76A | - | €10,860 | +€10,860 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €304 | €8,159 | +€7,855 | +2,581% |
| Other operating charges | 640/8 | €1,759 | €1,689 | -€70 | -4.0% |
| Non-recurring operating charges | 66A | - | €2,984 | +€2,984 | |
| Gross operating margin | 9900 | €9,021 | €21,178 | +€12,157 | +135% |
| Operating profit (loss) | 9901 | €6,958 | €8,346 | +€1,388 | +19.9% |
| Financial income | 75/76B | €100,000 | €100,000 | = | 0.0% |
| Recurring financial income | 75 | €100,000 | €100,000 | = | 0.0% |
| Financial charges | 65/66B | €12,020 | €11,066 | -€954 | -7.9% |
| Recurring financial charges | 65 | €12,020 | €11,066 | -€954 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €94,938 | €97,281 | +€2,342 | +2.5% |
| Income taxes | 67/77 | €8,995 | €9,169 | +€174 | +1.9% |
| Profit (loss) for the period | 9904 | €85,943 | €88,112 | +€2,169 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €85,943 | €88,112 | +€2,169 | +2.5% |
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 18 October 2026 via checked.be.