HUGO: 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.
HUGO
Largest movements
- Cash -€126,243
down €126,243 (-40.7%), from €310,413 to €184,170
mainly Contributions, distributions and other (-€100,000) and Other debts (-€99,510)
- Tangible fixed assets +€14,960
up €14,960 (+28.5%), from €52,411 to €67,371
of which Plant, machinery and equipment: +€26,841
- Deferred charges and accrued income -€11,019
down €11,019 (-95.5%), from €11,538 to €519
- Receivables within one year +€9,887
up €9,887 (+79.1%), from €12,502 to €22,390
of which Other amounts receivable: +€9,559
- Stocks and contracts +€4,105
up €4,105 (+32.0%), from €12,847 to €16,951
- Other debts -€99,510
down €99,510 (-49.5%), from €201,183 to €101,673
- Trade debts +€16,042
up €16,042 (+2254.7%), from €711 to €16,753
- Current portion of long-term debt -€13,001
down €13,001 (-78.3%), from €16,607 to €3,606
- Profit (loss) carried forward -€5,874
down €5,874 (-3.7%), from €158,993 to €153,120
- Gross operating margin -€42,288
down €42,288 (-12.2%), from €347,601 to €305,314
- Financial income +€11,990
up €11,990 (+45263.0%), from €26 to €12,017
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 | €404,423 | €295,613 | -€108,811 | -26.9% |
| Fixed assets | 21/28 | €57,123 | €71,583 | +€14,460 | +25.3% |
| Intangible fixed assets | 21 | €562 | €62 | -€500 | -89.0% |
| Tangible fixed assets | 22/27 | €52,411 | €67,371 | +€14,960 | +28.5% |
| Plant, machinery and equipment | 23 | €21,522 | €48,363 | +€26,841 | +124.7% |
| Furniture and vehicles | 24 | €1,581 | €668 | -€913 | -57.8% |
| Other tangible fixed assets | 26 | €29,308 | €18,340 | -€10,968 | -37.4% |
| Financial fixed assets | 28 | €4,150 | €4,150 | = | 0.0% |
| Current assets | 29/58 | €347,300 | €224,030 | -€123,271 | -35.5% |
| Stocks and contracts in progress | 3 | €12,847 | €16,951 | +€4,105 | +32.0% |
| Stocks | 30/36 | €12,847 | €16,951 | +€4,105 | +32.0% |
| Amounts receivable within one year | 40/41 | €12,502 | €22,390 | +€9,887 | +79.1% |
| Trade receivables | 40 | - | €328 | +€328 | |
| Other amounts receivable | 41 | €12,502 | €22,062 | +€9,559 | +76.5% |
| Cash at bank and in hand | 54/58 | €310,413 | €184,170 | -€126,243 | -40.7% |
| Deferred charges and accrued income | 490/1 | €11,538 | €519 | -€11,019 | -95.5% |
| Total equity and liabilities | 10/49 | €404,423 | €295,613 | -€108,811 | -26.9% |
| Equity | 10/15 | €179,453 | €173,580 | -€5,874 | -3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,993 | €153,120 | -€5,874 | -3.7% |
| Amounts payable | 17/49 | €224,970 | €122,033 | -€102,937 | -45.8% |
| Amounts payable after more than one year | 17 | €3,606 | - | -€3,606 | |
| Financial debts | 170/4 | €3,606 | - | -€3,606 | |
| Amounts payable within one year | 42/48 | €221,363 | €122,033 | -€99,330 | -44.9% |
| Current portion of amounts payable after more than one year | 42 | €16,607 | €3,606 | -€13,001 | -78.3% |
| Trade debts | 44 | €711 | €16,753 | +€16,042 | +2254.7% |
| Suppliers | 440/4 | €711 | €16,753 | +€16,042 | +2254.7% |
| Taxes, remuneration and social security | 45 | €2,862 | €1 | -€2,861 | -100.0% |
| Taxes | 450/3 | €2,862 | €1 | -€2,861 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €201,183 | €101,673 | -€99,510 | -49.5% |
| Remuneration, social security and pensions | 62 | €165,933 | €166,850 | +€917 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,200 | €21,428 | +€1,228 | +6.1% |
| Other operating charges | 640/8 | €597 | €243 | -€354 | -59.3% |
| Gross operating margin | 9900 | €347,601 | €305,314 | -€42,288 | -12.2% |
| Operating profit (loss) | 9901 | €160,871 | €116,793 | -€44,078 | -27.4% |
| Financial income | 75/76B | €26 | €12,017 | +€11,990 | +45263.0% |
| Recurring financial income | 75 | €26 | €12,017 | +€11,990 | +45263.0% |
| Financial charges | 65/66B | €3,003 | €4,085 | +€1,082 | +36.0% |
| Recurring financial charges | 65 | €3,003 | €4,085 | +€1,082 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €157,895 | €124,725 | -€33,170 | -21.0% |
| Income taxes | 67/77 | €31,500 | €30,599 | -€901 | -2.9% |
| Profit (loss) for the period | 9904 | €126,395 | €94,126 | -€32,269 | -25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €126,395 | €94,126 | -€32,269 | -25.5% |
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 8 October 2026 via checked.be.