HUBERT HELLRAETH CONSULTING: 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 HELLRAETH CONSULTING
Largest movements
- Current investments +€500,479
up €500,479 (+73.0%), from €685,130 to €1.2m
- Receivables within one year +€101,818
up €101,818 (+20.0%), from €507,831 to €609,649
of which Trade receivables: +€432,486
- Financial fixed assets -€97,500
down €97,500 (-76.4%), from €127,628 to €30,128
- Tangible fixed assets +€33,210
up €33,210 (+40.1%), from €82,846 to €116,057
of which Furniture and vehicles: +€35,248
- Reserves +€528,325
up €528,325 (+46.8%), from €1.1m to €1.7m
- Gross operating margin +€421,870
up €421,870 (+116%), from €364,323 to €786,192
- Taxes +€137,692
up €137,692 (+127%), from €108,652 to €246,345
- Financial income -€31,779
down €31,779 (-67.8%), from €46,880 to €15,101
- Depreciation -€17,449
down €17,449 (-58.7%), from €29,734 to €12,285
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 | €1,408,266 | €1,941,453 | +€533,188 | +37.9% |
| Fixed assets | 21/28 | €210,474 | €146,185 | -€64,290 | -30.5% |
| Tangible fixed assets | 22/27 | €82,846 | €116,057 | +€33,210 | +40.1% |
| Land and buildings | 22 | €51,781 | €49,923 | -€1,858 | -3.6% |
| Plant, machinery and equipment | 23 | €1,217 | €1,037 | -€180 | -14.8% |
| Furniture and vehicles | 24 | €29,848 | €65,096 | +€35,248 | +118% |
| Other tangible fixed assets | 26 | €0 | €0 | = | 0.0% |
| Financial fixed assets | 28 | €127,628 | €30,128 | -€97,500 | -76.4% |
| Current assets | 29/58 | €1,197,792 | €1,795,269 | +€597,477 | +49.9% |
| Amounts receivable within one year | 40/41 | €507,831 | €609,649 | +€101,818 | +20.0% |
| Trade receivables | 40 | €157,630 | €590,116 | +€432,486 | +274% |
| Other amounts receivable | 41 | €350,201 | €19,532 | -€330,668 | -94.4% |
| Current investments | 50/53 | €685,130 | €1,185,609 | +€500,479 | +73.0% |
| Cash at bank and in hand | 54/58 | €903 | €11 | -€892 | -98.8% |
| Deferred charges and accrued income | 490/1 | €3,928 | - | -€3,928 | |
| Total equity and liabilities | 10/49 | €1,408,266 | €1,941,453 | +€533,188 | +37.9% |
| Equity | 10/15 | €1,300,608 | €1,828,934 | +€528,326 | +40.6% |
| Contributions | 10/11 | €170,000 | €170,000 | = | 0.0% |
| Reserves | 13 | €1,129,945 | €1,658,270 | +€528,325 | +46.8% |
| Distributable reserves | 133 | €1,129,945 | €1,658,270 | +€528,325 | +46.8% |
| Profit (loss) carried forward | 14 | €663 | €664 | +€1 | +0.2% |
| Amounts payable | 17/49 | €107,657 | €112,519 | +€4,862 | +4.5% |
| Amounts payable within one year | 42/48 | €101,601 | €108,093 | +€6,492 | +6.4% |
| Financial debts | 43 | - | €11 | +€11 | |
| Credit institutions | 430/8 | - | €11 | +€11 | |
| Trade debts | 44 | €649 | €759 | +€111 | +17.1% |
| Suppliers | 440/4 | €649 | €759 | +€111 | +17.1% |
| Taxes, remuneration and social security | 45 | €41,861 | €38,094 | -€3,767 | -9.0% |
| Taxes | 450/3 | €41,861 | €38,094 | -€3,767 | -9.0% |
| Other amounts payable | 47/48 | €59,091 | €69,228 | +€10,138 | +17.2% |
| Accrued charges and deferred income | 492/3 | €6,057 | €4,426 | -€1,630 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,734 | €12,285 | -€17,449 | -58.7% |
| Other operating charges | 640/8 | €3,191 | €1,682 | -€1,509 | -47.3% |
| Non-recurring operating charges | 66A | - | €8,129 | +€8,129 | |
| Gross operating margin | 9900 | €364,323 | €786,192 | +€421,870 | +116% |
| Operating profit (loss) | 9901 | €331,398 | €764,097 | +€432,699 | +131% |
| Financial income | 75/76B | €46,880 | €15,101 | -€31,779 | -67.8% |
| Recurring financial income | 75 | €46,880 | €15,101 | -€31,779 | -67.8% |
| Financial charges | 65/66B | €5,041 | €4,528 | -€513 | -10.2% |
| Recurring financial charges | 65 | €5,041 | €4,528 | -€513 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €373,237 | €774,671 | +€401,434 | +108% |
| Income taxes | 67/77 | €108,652 | €246,345 | +€137,692 | +127% |
| Profit (loss) for the period | 9904 | €264,585 | €528,326 | +€263,741 | +99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €264,585 | €528,326 | +€263,741 | +99.7% |
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 17 October 2026 via checked.be.