Hugo: 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.
Hugo
Largest movements
- Receivables within one year -€42,725
down €42,725 (-6.7%), from €641,583 to €598,858
- Profit (loss) carried forward -€46,337
down €46,337 (-40.9%), from -€113,295 to -€159,632
- Financial charges -€68,974
down €68,974 (-61.5%), from €112,093 to €43,119
- Gross operating margin -€2,711
new in 2025: -€2,711
- Depreciation -€1,202
no longer reported in 2025 (was €1,202)
- Other operating charges +€507
new in 2025: €507
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 | €3,614,131 | €3,572,038 | -€42,093 | -1.2% |
| Formation expenses | 20 | €2,548 | €2,548 | = | 0.0% |
| Fixed assets | 21/28 | €2,970,000 | €2,970,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,970,000 | €2,970,000 | = | 0.0% |
| Current assets | 29/58 | €641,583 | €599,490 | -€42,093 | -6.6% |
| Amounts receivable within one year | 40/41 | €641,583 | €598,858 | -€42,725 | -6.7% |
| Other amounts receivable | 41 | €641,583 | €598,858 | -€42,725 | -6.7% |
| Cash at bank and in hand | 54/58 | - | €632 | +€632 | |
| Total equity and liabilities | 10/49 | €3,614,131 | €3,572,038 | -€42,093 | -1.2% |
| Equity | 10/15 | €2,886,705 | €2,840,368 | -€46,337 | -1.6% |
| Contributions | 10/11 | €3,000,000 | €3,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,295 | -€159,632 | -€46,337 | -40.9% |
| Amounts payable | 17/49 | €727,426 | €731,670 | +€4,244 | +0.6% |
| Amounts payable after more than one year | 17 | €695,000 | €695,000 | = | 0.0% |
| Financial debts | 170/4 | €695,000 | €695,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,750 | €6,730 | +€2,980 | +79.5% |
| Other amounts payable | 47/48 | €3,750 | €6,730 | +€2,980 | +79.5% |
| Accrued charges and deferred income | 492/3 | €28,676 | €29,940 | +€1,264 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,202 | - | -€1,202 | |
| Other operating charges | 640/8 | - | €507 | +€507 | |
| Gross operating margin | 9900 | - | -€2,711 | -€2,711 | |
| Operating profit (loss) | 9901 | -€1,202 | -€3,218 | -€2,016 | -168% |
| Financial charges | 65/66B | €112,093 | €43,119 | -€68,974 | -61.5% |
| Recurring financial charges | 65 | €112,093 | €43,119 | -€68,974 | -61.5% |
| Profit (loss) for the period before taxes | 9903 | -€113,295 | -€46,337 | +€66,958 | +59.1% |
| Profit (loss) for the period | 9904 | -€113,295 | -€46,337 | +€66,958 | +59.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€113,295 | -€46,337 | +€66,958 | +59.1% |
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.