HUBRECHT: 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.
HUBRECHT
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+77.1%), from €1.9m to €3.4m
of which Plant, machinery and equipment: +€1.3m
- Debts after one year +€1.2m
up €1.2m (+74.0%), from €1.6m to €2.7m
- Reserves +€145,699
up €145,699 (+44.8%), from €325,247 to €470,945
- Trade debts +€82,829
up €82,829 (+1,622%), from €5,106 to €87,935
- Current portion of long-term debt +€55,494
up €55,494 (+57.2%), from €97,043 to €152,537
- Advances received +€50,000
up €50,000 (+100%), from €50,000 to €100,000
- Other operating charges -€85,229
down €85,229 (-85.6%), from €99,513 to €14,284
- Gross operating margin +€85,155
up €85,155 (+26.3%), from €323,624 to €408,780
- Depreciation +€36,987
up €36,987 (+28.9%), from €128,200 to €165,186
- Financial charges +€11,375
up €11,375 (+26.4%), from €43,051 to €54,426
- Taxes -€5,879
down €5,879 (-28.0%), from €20,997 to €15,118
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 | €2,110,826 | €3,615,963 | +€1.5m | +71.3% |
| Fixed assets | 21/28 | €2,005,194 | €3,504,498 | +€1.5m | +74.8% |
| Tangible fixed assets | 22/27 | €1,945,778 | €3,445,083 | +€1.5m | +77.1% |
| Land and buildings | 22 | €1,897,670 | €2,088,285 | +€190,615 | +10.0% |
| Plant, machinery and equipment | 23 | €33,649 | €1,346,676 | +€1.3m | +3,902% |
| Furniture and vehicles | 24 | €14,459 | €10,122 | -€4,337 | -30.0% |
| Financial fixed assets | 28 | €59,415 | €59,415 | = | 0.0% |
| Current assets | 29/58 | €105,632 | €111,465 | +€5,833 | +5.5% |
| Amounts receivable within one year | 40/41 | €73,382 | €101,794 | +€28,413 | +38.7% |
| Trade receivables | 40 | €2,920 | €2,419 | -€501 | -17.2% |
| Other amounts receivable | 41 | €70,462 | €99,375 | +€28,914 | +41.0% |
| Cash at bank and in hand | 54/58 | €31,863 | €7,826 | -€24,037 | -75.4% |
| Deferred charges and accrued income | 490/1 | €388 | €1,844 | +€1,457 | +376% |
| Total equity and liabilities | 10/49 | €2,110,826 | €3,615,963 | +€1.5m | +71.3% |
| Equity | 10/15 | €325,247 | €470,945 | +€145,699 | +44.8% |
| Reserves | 13 | €325,247 | €470,945 | +€145,699 | +44.8% |
| Distributable reserves | 133 | €325,247 | €470,945 | +€145,699 | +44.8% |
| Amounts payable | 17/49 | €1,785,579 | €3,145,017 | +€1.4m | +76.1% |
| Amounts payable after more than one year | 17 | €1,561,681 | €2,716,809 | +€1.2m | +74.0% |
| Financial debts | 170/4 | €1,561,681 | €2,716,809 | +€1.2m | +74.0% |
| Amounts payable within one year | 42/48 | €223,898 | €428,208 | +€204,310 | +91.3% |
| Current portion of amounts payable after more than one year | 42 | €97,043 | €152,537 | +€55,494 | +57.2% |
| Financial debts | 43 | €51,818 | €51,818 | = | 0.0% |
| Credit institutions | 430/8 | €51,818 | €51,818 | = | 0.0% |
| Trade debts | 44 | €5,106 | €87,935 | +€82,829 | +1,622% |
| Suppliers | 440/4 | €5,106 | €87,935 | +€82,829 | +1,622% |
| Advances received on contracts in progress | 46 | €50,000 | €100,000 | +€50,000 | +100% |
| Taxes, remuneration and social security | 45 | €1,539 | €15,418 | +€13,878 | +902% |
| Taxes | 450/3 | €774 | €15,095 | +€14,322 | +1,851% |
| Remuneration and social security | 454/9 | €766 | €322 | -€443 | -57.9% |
| Other amounts payable | 47/48 | €18,391 | €20,500 | +€2,109 | +11.5% |
| Remuneration, social security and pensions | 62 | €18,936 | €13,915 | -€5,020 | -26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,200 | €165,186 | +€36,987 | +28.9% |
| Other operating charges | 640/8 | €99,513 | €14,284 | -€85,229 | -85.6% |
| Gross operating margin | 9900 | €323,624 | €408,780 | +€85,155 | +26.3% |
| Operating profit (loss) | 9901 | €76,976 | €215,394 | +€138,418 | +180% |
| Financial income | 75/76B | €70 | €1,567 | +€1,497 | +2,152% |
| Recurring financial income | 75 | €70 | €1,567 | +€1,497 | +2,152% |
| Financial charges | 65/66B | €43,051 | €54,426 | +€11,375 | +26.4% |
| Recurring financial charges | 65 | €43,051 | €54,426 | +€11,375 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | €33,995 | €162,534 | +€128,539 | +378% |
| Income taxes | 67/77 | €20,997 | €15,118 | -€5,879 | -28.0% |
| Profit (loss) for the period | 9904 | €12,999 | €147,417 | +€134,418 | +1,034% |
| Profit (loss) for the period to be appropriated | 9905 | €12,999 | €147,417 | +€134,418 | +1,034% |
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 27 October 2026 via checked.be.