HUBERT-VISION: what changed
Two fiscal 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-VISION
Largest movements
- Current investments +€201,684
up €201,684 (+46.7%), from €432,275 to €633,959
- Receivables within one year +€103,565
up €103,565 (+1019.3%), from €10,160 to €113,725
of which Other amounts receivable: +€88,527
- Deferred charges and accrued income +€36,004
up €36,004 (+465.7%), from €7,732 to €43,736
- Tangible fixed assets -€35,458
down €35,458 (-17.6%), from €201,232 to €165,774
of which Plant, machinery and equipment: -€32,945
- Cash -€20,568
down €20,568 (-14.7%), from €139,743 to €119,176
mainly Current investments (-€201,684) and Receivables within one year (-€103,565)
- Reserves +€264,133
up €264,133 (+18.6%), from €1.4m to €1.7m
of which Distributable reserves: +€262,273
- Tax, wage and social debts +€48,772
up €48,772 (+104.0%), from €46,892 to €95,664
of which Taxes: +€56,729
- Financial charges -€49,088
down €49,088 (-92.0%), from €53,373 to €4,286
- Taxes +€36,319
up €36,319 (+37.3%), from €97,474 to €133,793
- Staff costs -€27,961
down €27,961 (-21.1%), from €132,788 to €104,827
- Financial income +€17,980
up €17,980 (+86.7%), from €20,734 to €38,714
- Gross operating margin -€10,886
down €10,886 (-2.1%), from €518,220 to €507,334
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.
Cash bridge derived
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 | €1,571,674 | €1,885,149 | +€313,474 | +19.9% |
| Fixed assets | 21/28 | €756,014 | €735,676 | -€20,338 | -2.7% |
| Tangible fixed assets | 22/27 | €201,232 | €165,774 | -€35,458 | -17.6% |
| Plant, machinery and equipment | 23 | €196,919 | €163,974 | -€32,945 | -16.7% |
| Furniture and vehicles | 24 | €187 | €0 | -€187 | -100.0% |
| Other tangible fixed assets | 26 | €4,126 | €1,801 | -€2,326 | -56.4% |
| Financial fixed assets | 28 | €554,782 | €569,902 | +€15,120 | +2.7% |
| Current assets | 29/58 | €815,661 | €1,149,472 | +€333,812 | +40.9% |
| Amounts receivable after more than one year | 29 | €225,750 | €238,876 | +€13,126 | +5.8% |
| Other amounts receivable | 291 | €225,750 | €238,876 | +€13,126 | +5.8% |
| Amounts receivable within one year | 40/41 | €10,160 | €113,725 | +€103,565 | +1019.3% |
| Trade receivables | 40 | €1,029 | €16,067 | +€15,038 | +1462.0% |
| Other amounts receivable | 41 | €9,132 | €97,659 | +€88,527 | +969.4% |
| Current investments | 50/53 | €432,275 | €633,959 | +€201,684 | +46.7% |
| Cash at bank and in hand | 54/58 | €139,743 | €119,176 | -€20,568 | -14.7% |
| Deferred charges and accrued income | 490/1 | €7,732 | €43,736 | +€36,004 | +465.7% |
| Total equity and liabilities | 10/49 | €1,571,674 | €1,885,149 | +€313,474 | +19.9% |
| Equity | 10/15 | €1,493,589 | €1,757,721 | +€264,133 | +17.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,418,461 | €1,682,593 | +€264,133 | +18.6% |
| Non-distributable reserves | 130/1 | €0 | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | €0 | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €1,418,461 | €1,680,733 | +€262,273 | +18.5% |
| Profit (loss) carried forward | 14 | €56,528 | €56,528 | = | 0.0% |
| Amounts payable | 17/49 | €78,086 | €127,427 | +€49,341 | +63.2% |
| Amounts payable within one year | 42/48 | €78,086 | €127,427 | +€49,341 | +63.2% |
| Financial debts | 43 | €3,127 | €12,525 | +€9,398 | +300.6% |
| Credit institutions | 430/8 | €3,127 | €12,525 | +€9,398 | +300.6% |
| Trade debts | 44 | €11,372 | €19,238 | +€7,865 | +69.2% |
| Suppliers | 440/4 | €11,372 | €19,238 | +€7,865 | +69.2% |
| Taxes, remuneration and social security | 45 | €46,892 | €95,664 | +€48,772 | +104.0% |
| Taxes | 450/3 | €29,668 | €86,398 | +€56,729 | +191.2% |
| Remuneration and social security | 454/9 | €17,224 | €9,267 | -€7,957 | -46.2% |
| Other amounts payable | 47/48 | €16,695 | €0 | -€16,695 | -100.0% |
| Non-recurring operating income | 76A | - | €86,952 | +€86,952 | |
| Remuneration, social security and pensions | 62 | €132,788 | €104,827 | -€27,961 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,453 | €35,458 | -€996 | -2.7% |
| Other operating charges | 640/8 | €3,938 | €1,928 | -€2,010 | -51.0% |
| Non-recurring operating charges | 66A | - | €1,625 | +€1,625 | |
| Gross operating margin | 9900 | €518,220 | €507,334 | -€10,886 | -2.1% |
| Operating profit (loss) | 9901 | €345,041 | €363,497 | +€18,456 | +5.3% |
| Financial income | 75/76B | €20,734 | €38,714 | +€17,980 | +86.7% |
| Recurring financial income | 75 | €20,734 | €38,714 | +€17,980 | +86.7% |
| Financial charges | 65/66B | €53,373 | €4,286 | -€49,088 | -92.0% |
| Recurring financial charges | 65 | €53,373 | €4,286 | -€49,088 | -92.0% |
| Profit (loss) for the period before taxes | 9903 | €312,402 | €397,926 | +€85,524 | +27.4% |
| Income taxes | 67/77 | €97,474 | €133,793 | +€36,319 | +37.3% |
| Profit (loss) for the period | 9904 | €214,928 | €264,133 | +€49,205 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €214,928 | €264,133 | +€49,205 | +22.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.