HUGO CIROUX: what changed
HUGO CIROUX
Largest movements
- Receivables within one year +€19,979
new in 2025: €19,979
- Cash +€16,636
up €16,636 (+11.9%), from €140,237 to €156,873
mainly Net result for the year (+€20,448) and Receivables after one year (+€9,597)
- Receivables after one year -€9,597
no longer reported in 2025 (was €9,597)
- Tangible fixed assets +€7,694
up €7,694 (+287%), from €2,679 to €10,373
- Reserves +€20,000
up €20,000 (+4.7%), from €427,262 to €447,262
of which Distributable reserves: +€20,000
- Tax, wage and social debts +€7,615
up €7,615 (+68.7%), from €11,082 to €18,697
- Other debts +€6,689
up €6,689 (+24.1%), from €27,754 to €34,443
- Gross operating margin +€20,176
up €20,176 (+130%), from €15,557 to €35,733
- Taxes +€5,900
up €5,900 (+144%), from €4,100 to €10,000
- Financial charges +€525
up €525 (+477%), from €110 to €635
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €475,413 | €510,125 | +€34,712 | +7.3% |
| Fixed assets | 21/28 | €2,679 | €10,373 | +€7,694 | +287% |
| Tangible fixed assets | 22/27 | €2,679 | €10,373 | +€7,694 | +287% |
| Furniture and vehicles | 24 | €2,679 | €10,373 | +€7,694 | +287% |
| Current assets | 29/58 | €472,734 | €499,752 | +€27,018 | +5.7% |
| Amounts receivable after more than one year | 29 | €9,597 | - | -€9,597 | |
| Trade receivables | 290 | €9,597 | - | -€9,597 | |
| Amounts receivable within one year | 40/41 | - | €19,979 | +€19,979 | |
| Trade receivables | 40 | - | €19,979 | +€19,979 | |
| Current investments | 50/53 | €322,900 | €322,900 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €140,237 | €156,873 | +€16,636 | +11.9% |
| Total equity and liabilities | 10/49 | €475,413 | €510,125 | +€34,712 | +7.3% |
| Equity | 10/15 | €435,037 | €455,485 | +€20,448 | +4.7% |
| Contributions | 10/11 | €6,420 | €6,420 | = | 0.0% |
| Capital | 10 | €6,420 | €6,420 | = | 0.0% |
| Issued capital | 100 | €6,420 | €6,420 | = | 0.0% |
| Reserves | 13 | €427,262 | €447,262 | +€20,000 | +4.7% |
| Non-distributable reserves | 130/1 | €1,262 | €1,262 | = | 0.0% |
| Legal reserve | 130 | €1,262 | €1,262 | = | 0.0% |
| Distributable reserves | 133 | €426,000 | €446,000 | +€20,000 | +4.7% |
| Profit (loss) carried forward | 14 | €1,355 | €1,803 | +€448 | +33.1% |
| Amounts payable | 17/49 | €40,376 | €54,640 | +€14,264 | +35.3% |
| Amounts payable within one year | 42/48 | €38,876 | €53,140 | +€14,264 | +36.7% |
| Trade debts | 44 | €40 | - | -€40 | |
| Suppliers | 440/4 | €40 | - | -€40 | |
| Taxes, remuneration and social security | 45 | €11,082 | €18,697 | +€7,615 | +68.7% |
| Taxes | 450/3 | €11,082 | €18,697 | +€7,615 | +68.7% |
| Other amounts payable | 47/48 | €27,754 | €34,443 | +€6,689 | +24.1% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,165 | €4,522 | +€357 | +8.6% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €15,557 | €35,733 | +€20,176 | +130% |
| Operating profit (loss) | 9901 | €11,266 | €31,083 | +€19,817 | +176% |
| Financial charges | 65/66B | €110 | €635 | +€525 | +477% |
| Recurring financial charges | 65 | €110 | €635 | +€525 | +477% |
| Profit (loss) for the period before taxes | 9903 | €11,156 | €30,448 | +€19,292 | +173% |
| Income taxes | 67/77 | €4,100 | €10,000 | +€5,900 | +144% |
| Profit (loss) for the period | 9904 | €7,056 | €20,448 | +€13,392 | +190% |
| Profit (loss) for the period to be appropriated | 9905 | €7,056 | €20,448 | +€13,392 | +190% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 December 2024 and 30 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.