HUGAL: 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.
HUGAL
Largest movements
- Tangible fixed assets -€8,450
down €8,450 (-6.0%), from €140,459 to €132,009
- Debts after one year -€6,763
down €6,763 (-5.1%), from €133,160 to €126,397
- Profit (loss) carried forward -€6,735
down €6,735 (-4.0%), from -€169,650 to -€176,386
- Other debts +€4,910
up €4,910 (+23.3%), from €21,054 to €25,964
- Financial charges -€2,419
down €2,419 (-23.9%), from €10,134 to €7,715
- Other operating charges -€1,267
down €1,267 (-76.0%), from €1,667 to €400
- Gross operating margin -€421
down €421 (-4.1%), from €10,250 to €9,829
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 | €140,924 | €132,481 | -€8,443 | -6.0% |
| Fixed assets | 21/28 | €140,459 | €132,009 | -€8,450 | -6.0% |
| Tangible fixed assets | 22/27 | €140,459 | €132,009 | -€8,450 | -6.0% |
| Land and buildings | 22 | €140,459 | €132,009 | -€8,450 | -6.0% |
| Current assets | 29/58 | €465 | €472 | +€7 | +1.6% |
| Cash at bank and in hand | 54/58 | €465 | €472 | +€7 | +1.6% |
| Total equity and liabilities | 10/49 | €140,924 | €132,481 | -€8,443 | -6.0% |
| Equity | 10/15 | -€20,914 | -€27,649 | -€6,735 | -32.2% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€169,650 | -€176,386 | -€6,735 | -4.0% |
| Amounts payable | 17/49 | €161,838 | €160,131 | -€1,707 | -1.1% |
| Amounts payable after more than one year | 17 | €133,160 | €126,397 | -€6,763 | -5.1% |
| Financial debts | 170/4 | €133,160 | €126,397 | -€6,763 | -5.1% |
| Amounts payable within one year | 42/48 | €28,678 | €33,734 | +€5,056 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €7,624 | €7,370 | -€254 | -3.3% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Other amounts payable | 47/48 | €21,054 | €25,964 | +€4,910 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,450 | €8,450 | = | 0.0% |
| Other operating charges | 640/8 | €1,667 | €400 | -€1,267 | -76.0% |
| Gross operating margin | 9900 | €10,250 | €9,829 | -€421 | -4.1% |
| Operating profit (loss) | 9901 | €133 | €979 | +€846 | +638% |
| Financial income | 75/76B | €0 | €1 | +€1 | +550% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +550% |
| Financial charges | 65/66B | €10,134 | €7,715 | -€2,419 | -23.9% |
| Recurring financial charges | 65 | €10,134 | €7,715 | -€2,419 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,001 | -€6,735 | +€3,266 | +32.7% |
| Income taxes | 67/77 | €0 | €0 | +€0 | +250% |
| Profit (loss) for the period | 9904 | -€10,001 | -€6,735 | +€3,266 | +32.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,001 | -€6,735 | +€3,266 | +32.7% |
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 14 October 2026 via checked.be.