HUDEC: 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.
HUDEC
Largest movements
- Receivables within one year +€6,544
up €6,544 (+16.4%), from €39,821 to €46,366
of which Other amounts receivable: +€8,922
- Tangible fixed assets +€957
up €957, from €0 to €957
- Short-term financial debts +€16,583
new in 2025: €16,583
- Other debts -€7,458
no longer reported in 2025 (was €7,458)
- Profit (loss) carried forward +€4,457
up €4,457 (+13.6%), from -€32,863 to -€28,406
- Trade debts -€3,866
down €3,866 (-88.4%), from €4,371 to €505
- Accrued charges and deferred income -€1,136
no longer reported in 2025 (was €1,136)
- Gross operating margin +€4,979
up €4,979 (+135.9%), from €3,662 to €8,641
- Taxes +€475
up €475 (+38.8%), from €1,224 to €1,699
- Financial charges +€265
up €265 (+12.6%), from €2,101 to €2,367
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,821 | €47,323 | +€7,501 | +18.8% |
| Fixed assets | 21/28 | €0 | €957 | +€957 | |
| Tangible fixed assets | 22/27 | €0 | €957 | +€957 | |
| Plant, machinery and equipment | 23 | €0 | €957 | +€957 | |
| Current assets | 29/58 | €39,821 | €46,366 | +€6,544 | +16.4% |
| Amounts receivable within one year | 40/41 | €39,821 | €46,366 | +€6,544 | +16.4% |
| Trade receivables | 40 | €2,465 | €87 | -€2,378 | -96.5% |
| Other amounts receivable | 41 | €37,357 | €46,279 | +€8,922 | +23.9% |
| Total equity and liabilities | 10/49 | €39,821 | €47,323 | +€7,501 | +18.8% |
| Equity | 10/15 | €23,792 | €28,249 | +€4,457 | +18.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €38,063 | €38,063 | = | 0.0% |
| Distributable reserves | 133 | €38,063 | €38,063 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,863 | -€28,406 | +€4,457 | +13.6% |
| Amounts payable | 17/49 | €16,029 | €19,074 | +€3,045 | +19.0% |
| Amounts payable within one year | 42/48 | €14,893 | €19,074 | +€4,180 | +28.1% |
| Financial debts | 43 | - | €16,583 | +€16,583 | |
| Credit institutions | 430/8 | - | €16,583 | +€16,583 | |
| Trade debts | 44 | €4,371 | €505 | -€3,866 | -88.4% |
| Suppliers | 440/4 | €4,371 | €505 | -€3,866 | -88.4% |
| Taxes, remuneration and social security | 45 | €3,064 | €1,985 | -€1,078 | -35.2% |
| Taxes | 450/3 | €3,064 | €1,985 | -€1,078 | -35.2% |
| Other amounts payable | 47/48 | €7,458 | - | -€7,458 | |
| Accrued charges and deferred income | 492/3 | €1,136 | - | -€1,136 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1 | +€1 | |
| Other operating charges | 640/8 | €102 | €118 | +€16 | +15.5% |
| Gross operating margin | 9900 | €3,662 | €8,641 | +€4,979 | +135.9% |
| Operating profit (loss) | 9901 | €3,560 | €8,522 | +€4,962 | +139.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €2,101 | €2,367 | +€265 | +12.6% |
| Recurring financial charges | 65 | €2,101 | €2,367 | +€265 | +12.6% |
| Profit (loss) for the period before taxes | 9903 | €1,459 | €6,156 | +€4,696 | +321.9% |
| Income taxes | 67/77 | €1,224 | €1,699 | +€475 | +38.8% |
| Profit (loss) for the period | 9904 | €235 | €4,457 | +€4,222 | +1795.8% |
| Profit (loss) for the period to be appropriated | 9905 | €235 | €4,457 | +€4,222 | +1795.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.