HUGALLAN: 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.
HUGALLAN
Largest movements
- Tangible fixed assets +€28,959
up €28,959 (+10.9%), from €266,549 to €295,508
of which Furniture and vehicles: +€28,303
- Cash -€4,739
down €4,739 (-24.6%), from €19,226 to €14,487
mainly Investment in fixed assets (net) (-€43,379) and Trade debts (-€6,490)
- Debts after one year +€18,382
up €18,382 (+22.2%), from €82,721 to €101,103
- Reserves +€16,186
up €16,186 (+65.0%), from €24,919 to €41,106
of which Distributable reserves: +€16,186
- Trade debts -€6,490
no longer reported in 2025 (was €6,490)
- Other debts -€6,327
down €6,327 (-25.4%), from €24,940 to €18,613
- Tax, wage and social debts +€4,350
up €4,350 (+19.9%), from €21,892 to €26,242
of which Taxes: +€15,141
- Other operating charges +€16,280
up €16,280 (+590.4%), from €2,757 to €19,037
- Gross operating margin +€10,386
up €10,386 (+6.4%), from €162,651 to €173,037
- Staff costs +€9,921
up €9,921 (+10.1%), from €98,452 to €108,373
- Taxes -€5,850
down €5,850 (-38.2%), from €15,323 to €9,473
- Depreciation -€2,974
down €2,974 (-17.1%), from €17,394 to €14,420
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 | €291,583 | €317,591 | +€26,007 | +8.9% |
| Fixed assets | 21/28 | €266,549 | €295,508 | +€28,959 | +10.9% |
| Tangible fixed assets | 22/27 | €266,549 | €295,508 | +€28,959 | +10.9% |
| Land and buildings | 22 | €241,516 | €241,940 | +€424 | +0.2% |
| Plant, machinery and equipment | 23 | €4,002 | €4,234 | +€232 | +5.8% |
| Furniture and vehicles | 24 | €21,031 | €49,335 | +€28,303 | +134.6% |
| Current assets | 29/58 | €25,035 | €22,083 | -€2,952 | -11.8% |
| Stocks and contracts in progress | 3 | €1,449 | €3,342 | +€1,893 | +130.7% |
| Stocks | 30/36 | €1,449 | €3,342 | +€1,893 | +130.7% |
| Amounts receivable within one year | 40/41 | €4,191 | €3,627 | -€565 | -13.5% |
| Trade receivables | 40 | €4,191 | €3,608 | -€584 | -13.9% |
| Other amounts receivable | 41 | - | €19 | +€19 | |
| Cash at bank and in hand | 54/58 | €19,226 | €14,487 | -€4,739 | -24.6% |
| Deferred charges and accrued income | 490/1 | €169 | €627 | +€459 | +272.1% |
| Total equity and liabilities | 10/49 | €291,583 | €317,591 | +€26,007 | +8.9% |
| Equity | 10/15 | €141,398 | €157,585 | +€16,186 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,919 | €41,106 | +€16,186 | +65.0% |
| Non-distributable reserves | 130/1 | €1,380 | €1,380 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,380 | €1,380 | = | 0.0% |
| Distributable reserves | 133 | €23,539 | €39,726 | +€16,186 | +68.8% |
| Profit (loss) carried forward | 14 | €97,879 | €97,879 | = | 0.0% |
| Amounts payable | 17/49 | €150,185 | €160,006 | +€9,821 | +6.5% |
| Amounts payable after more than one year | 17 | €82,721 | €101,103 | +€18,382 | +22.2% |
| Financial debts | 170/4 | €82,721 | €101,103 | +€18,382 | +22.2% |
| Amounts payable within one year | 42/48 | €67,464 | €58,903 | -€8,560 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €14,142 | €14,048 | -€94 | -0.7% |
| Trade debts | 44 | €6,490 | - | -€6,490 | |
| Suppliers | 440/4 | €6,490 | - | -€6,490 | |
| Taxes, remuneration and social security | 45 | €21,892 | €26,242 | +€4,350 | +19.9% |
| Taxes | 450/3 | €7,526 | €22,667 | +€15,141 | +201.2% |
| Remuneration and social security | 454/9 | €14,367 | €3,576 | -€10,791 | -75.1% |
| Other amounts payable | 47/48 | €24,940 | €18,613 | -€6,327 | -25.4% |
| Remuneration, social security and pensions | 62 | €98,452 | €108,373 | +€9,921 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,394 | €14,420 | -€2,974 | -17.1% |
| Other operating charges | 640/8 | €2,757 | €19,037 | +€16,280 | +590.4% |
| Gross operating margin | 9900 | €162,651 | €173,037 | +€10,386 | +6.4% |
| Operating profit (loss) | 9901 | €44,049 | €31,208 | -€12,841 | -29.2% |
| Financial income | 75/76B | €12 | €7 | -€5 | -44.6% |
| Recurring financial income | 75 | €12 | €7 | -€5 | -44.6% |
| Financial charges | 65/66B | €5,199 | €5,555 | +€356 | +6.9% |
| Recurring financial charges | 65 | €5,199 | €5,555 | +€356 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €38,862 | €25,659 | -€13,203 | -34.0% |
| Income taxes | 67/77 | €15,323 | €9,473 | -€5,850 | -38.2% |
| Profit (loss) for the period | 9904 | €23,539 | €16,186 | -€7,353 | -31.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,539 | €16,186 | -€7,353 | -31.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.