HUDOVARE: 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.
HUDOVARE
Largest movements
- Cash -€48,569
down €48,569 (-86.9%), from €55,901 to €7,332
mainly Net result for the year (-€55,554) and Debts after one year (-€29,142)
- Tangible fixed assets -€33,246
down €33,246 (-5.1%), from €651,252 to €618,005
of which Land and buildings: -€32,292
- Profit (loss) carried forward -€55,554
down €55,554 (-6.7%), from -€834,103 to -€889,657
- Debts after one year -€29,142
down €29,142 (-2.6%), from €1.1m to €1.1m
- Financial charges -€11,258
down €11,258 (-25.5%), from €44,161 to €32,903
- Financial income -€11,160
no longer reported in 2025 (was €11,160)
of which Financial income: -€11,160
- Gross operating margin -€594
down €594 (-3.2%), from €18,517 to €17,923
- Other operating charges +€223
up €223 (+3.1%), from €7,105 to €7,328
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 | €709,313 | €627,497 | -€81,816 | -11.5% |
| Fixed assets | 21/28 | €651,252 | €618,005 | -€33,246 | -5.1% |
| Tangible fixed assets | 22/27 | €651,252 | €618,005 | -€33,246 | -5.1% |
| Land and buildings | 22 | €643,207 | €610,914 | -€32,292 | -5.0% |
| Plant, machinery and equipment | 23 | €8,045 | €7,091 | -€954 | -11.9% |
| Current assets | 29/58 | €58,061 | €9,492 | -€48,569 | -83.7% |
| Amounts receivable within one year | 40/41 | €2,160 | €2,160 | = | 0.0% |
| Trade receivables | 40 | €2,160 | €2,160 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €55,901 | €7,332 | -€48,569 | -86.9% |
| Total equity and liabilities | 10/49 | €709,313 | €627,497 | -€81,816 | -11.5% |
| Equity | 10/15 | -€434,103 | -€489,657 | -€55,554 | -12.8% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€834,103 | -€889,657 | -€55,554 | -6.7% |
| Amounts payable | 17/49 | €1,143,416 | €1,117,155 | -€26,262 | -2.3% |
| Amounts payable after more than one year | 17 | €1,138,260 | €1,109,118 | -€29,142 | -2.6% |
| Trade debts | 175 | €1,138,260 | €1,109,118 | -€29,142 | -2.6% |
| Amounts payable within one year | 42/48 | €5,156 | €8,037 | +€2,881 | +55.9% |
| Trade debts | 44 | €1,715 | €1,596 | -€119 | -7.0% |
| Suppliers | 440/4 | €1,715 | €1,596 | -€119 | -7.0% |
| Other amounts payable | 47/48 | €3,441 | €6,441 | +€3,000 | +87.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,246 | €33,246 | = | 0.0% |
| Other operating charges | 640/8 | €7,105 | €7,328 | +€223 | +3.1% |
| Gross operating margin | 9900 | €18,517 | €17,923 | -€594 | -3.2% |
| Operating profit (loss) | 9901 | -€21,834 | -€22,651 | -€817 | -3.7% |
| Financial income | 75/76B | €11,160 | - | -€11,160 | |
| Recurring financial income | 75 | €11,160 | - | -€11,160 | |
| Non-recurring financial income | 76B | €11,160 | - | -€11,160 | |
| Financial charges | 65/66B | €44,161 | €32,903 | -€11,258 | -25.5% |
| Recurring financial charges | 65 | €44,161 | €32,903 | -€11,258 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | -€54,835 | -€55,554 | -€719 | -1.3% |
| Profit (loss) for the period | 9904 | -€54,835 | -€55,554 | -€719 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€54,835 | -€55,554 | -€719 | -1.3% |
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 19 October 2026 via checked.be.