Huco: 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.
Huco
Largest movements
- Tangible fixed assets -€215,092
down €215,092 (-6.2%), from €3.5m to €3.3m
of which Plant, machinery and equipment: -€147,588
- Cash -€202,493
down €202,493 (-45.6%), from €444,267 to €241,774
mainly Trade debts (-€455,300) and Investment in fixed assets (net) (-€229,928)
- Receivables within one year -€100,084
down €100,084 (-23.1%), from €433,136 to €333,052
of which Trade receivables: -€97,238
- Trade debts -€455,300
down €455,300 (-78.1%), from €582,768 to €127,468
- Debts after one year -€100,980
down €100,980 (-4.3%), from €2.3m to €2.2m
- Current portion of long-term debt +€53,614
up €53,614 (+13.4%), from €400,716 to €454,330
- Gross operating margin -€286,545
down €286,545 (-32.2%), from €891,116 to €604,571
- Other operating charges -€92,544
down €92,544 (-83.3%), from €111,034 to €18,490
- Depreciation +€80,612
up €80,612 (+22.3%), from €360,900 to €441,512
- Taxes -€65,124
down €65,124 (-79.6%), from €81,834 to €16,711
- Financial charges +€44,684
up €44,684 (+93.0%), from €48,031 to €92,715
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 | €4,987,037 | €4,481,493 | -€505,544 | -10.1% |
| Fixed assets | 21/28 | €3,489,305 | €3,277,721 | -€211,584 | -6.1% |
| Intangible fixed assets | 21 | €1,675 | €4,652 | +€2,978 | +177.8% |
| Tangible fixed assets | 22/27 | €3,467,117 | €3,252,025 | -€215,092 | -6.2% |
| Land and buildings | 22 | €2,528,090 | €2,516,227 | -€11,864 | -0.5% |
| Plant, machinery and equipment | 23 | €742,824 | €595,236 | -€147,588 | -19.9% |
| Furniture and vehicles | 24 | €196,203 | €140,562 | -€55,641 | -28.4% |
| Financial fixed assets | 28 | €20,514 | €21,044 | +€530 | +2.6% |
| Current assets | 29/58 | €1,497,732 | €1,203,771 | -€293,960 | -19.6% |
| Stocks and contracts in progress | 3 | €561,492 | €582,332 | +€20,840 | +3.7% |
| Stocks | 30/36 | €561,492 | €582,332 | +€20,840 | +3.7% |
| Amounts receivable within one year | 40/41 | €433,136 | €333,052 | -€100,084 | -23.1% |
| Trade receivables | 40 | €138,925 | €41,688 | -€97,238 | -70.0% |
| Other amounts receivable | 41 | €294,211 | €291,364 | -€2,846 | -1.0% |
| Cash at bank and in hand | 54/58 | €444,267 | €241,774 | -€202,493 | -45.6% |
| Deferred charges and accrued income | 490/1 | €58,837 | €46,614 | -€12,223 | -20.8% |
| Total equity and liabilities | 10/49 | €4,987,037 | €4,481,493 | -€505,544 | -10.1% |
| Equity | 10/15 | €1,511,570 | €1,550,385 | +€38,815 | +2.6% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €1,211,570 | €1,250,385 | +€38,815 | +3.2% |
| Tax-exempt reserves | 132 | €19,476 | €18,510 | -€966 | -5.0% |
| Distributable reserves | 133 | €1,192,095 | €1,231,875 | +€39,780 | +3.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €4,826 | €4,579 | -€248 | -5.1% |
| Deferred taxes | 168 | €4,826 | €4,579 | -€248 | -5.1% |
| Amounts payable | 17/49 | €3,470,640 | €2,926,529 | -€544,111 | -15.7% |
| Amounts payable after more than one year | 17 | €2,339,802 | €2,238,822 | -€100,980 | -4.3% |
| Financial debts | 170/4 | €2,339,802 | €2,238,822 | -€100,980 | -4.3% |
| Amounts payable within one year | 42/48 | €1,113,583 | €673,757 | -€439,826 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | €400,716 | €454,330 | +€53,614 | +13.4% |
| Trade debts | 44 | €582,768 | €127,468 | -€455,300 | -78.1% |
| Suppliers | 440/4 | €582,768 | €127,468 | -€455,300 | -78.1% |
| Taxes, remuneration and social security | 45 | €94,170 | €54,617 | -€39,553 | -42.0% |
| Taxes | 450/3 | €94,170 | €54,617 | -€39,553 | -42.0% |
| Other amounts payable | 47/48 | €35,929 | €37,342 | +€1,413 | +3.9% |
| Accrued charges and deferred income | 492/3 | €17,256 | €13,950 | -€3,305 | -19.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €4,004 | +€4,004 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €360,900 | €441,512 | +€80,612 | +22.3% |
| Other operating charges | 640/8 | €111,034 | €18,490 | -€92,544 | -83.3% |
| Gross operating margin | 9900 | €891,116 | €604,571 | -€286,545 | -32.2% |
| Operating profit (loss) | 9901 | €419,182 | €140,565 | -€278,617 | -66.5% |
| Financial income | 75/76B | €7,602 | €7,428 | -€174 | -2.3% |
| Recurring financial income | 75 | €7,602 | €7,428 | -€174 | -2.3% |
| Financial charges | 65/66B | €48,031 | €92,715 | +€44,684 | +93.0% |
| Recurring financial charges | 65 | €48,031 | €92,715 | +€44,684 | +93.0% |
| Profit (loss) for the period before taxes | 9903 | €378,752 | €55,278 | -€323,475 | -85.4% |
| Transfer from deferred taxes | 780 | €248 | €248 | = | 0.0% |
| Income taxes | 67/77 | €81,834 | €16,711 | -€65,124 | -79.6% |
| Profit (loss) for the period | 9904 | €297,166 | €38,815 | -€258,351 | -86.9% |
| Transfer from tax-exempt reserves | 789 | €966 | €966 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €298,132 | €39,780 | -€258,351 | -86.7% |
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 11 October 2026 via checked.be.