Hugo D.B.: 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 D.B.
Largest movements
- Receivables within one year +€63,797
up €63,797 (+52.1%), from €122,353 to €186,150
of which Other amounts receivable: +€62,990
- Current investments +€16,764
up €16,764 (+43.5%), from €38,562 to €55,326
- Cash +€9,862
up €9,862 (+5,220%), from €189 to €10,051
mainly Net result for the year (+€76,034) and Tax, wage and social debts (+€12,263)
- Tangible fixed assets -€9,768
down €9,768 (-34.5%), from €28,332 to €18,565
- Reserves +€76,034
up €76,034 (+64.1%), from €118,700 to €194,734
- Tax, wage and social debts +€12,263
up €12,263 (+510%), from €2,404 to €14,667
- Debts after one year -€9,421
no longer reported in 2025 (was €9,421)
- Gross operating margin +€46,466
up €46,466 (+70.4%), from €65,981 to €112,447
- Taxes +€16,568
up €16,568 (+119%), from €13,908 to €30,477
- Depreciation +€7,067
up €7,067 (+262%), from €2,701 to €9,768
- Financial income +€1,219
up €1,219 (+29.3%), from €4,159 to €5,378
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 | €195,436 | €275,165 | +€79,729 | +40.8% |
| Fixed assets | 21/28 | €28,332 | €18,565 | -€9,768 | -34.5% |
| Tangible fixed assets | 22/27 | €28,332 | €18,565 | -€9,768 | -34.5% |
| Furniture and vehicles | 24 | €28,332 | €18,565 | -€9,768 | -34.5% |
| Current assets | 29/58 | €167,104 | €256,600 | +€89,496 | +53.6% |
| Amounts receivable within one year | 40/41 | €122,353 | €186,150 | +€63,797 | +52.1% |
| Trade receivables | 40 | €25,135 | €25,942 | +€807 | +3.2% |
| Other amounts receivable | 41 | €97,218 | €160,208 | +€62,990 | +64.8% |
| Current investments | 50/53 | €38,562 | €55,326 | +€16,764 | +43.5% |
| Cash at bank and in hand | 54/58 | €189 | €10,051 | +€9,862 | +5,220% |
| Deferred charges and accrued income | 490/1 | €6,000 | €5,074 | -€926 | -15.4% |
| Total equity and liabilities | 10/49 | €195,436 | €275,165 | +€79,729 | +40.8% |
| Equity | 10/15 | €173,229 | €249,263 | +€76,034 | +43.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €118,700 | €194,734 | +€76,034 | +64.1% |
| Distributable reserves | 133 | €118,700 | €194,734 | +€76,034 | +64.1% |
| Profit (loss) carried forward | 14 | €52,529 | €52,529 | = | 0.0% |
| Amounts payable | 17/49 | €22,208 | €25,902 | +€3,694 | +16.6% |
| Amounts payable after more than one year | 17 | €9,421 | - | -€9,421 | |
| Financial debts | 170/4 | €9,421 | - | -€9,421 | |
| Amounts payable within one year | 42/48 | €12,786 | €25,902 | +€13,115 | +103% |
| Current portion of amounts payable after more than one year | 42 | €9,785 | €9,421 | -€364 | -3.7% |
| Trade debts | 44 | €597 | €1,813 | +€1,216 | +204% |
| Suppliers | 440/4 | €597 | €1,813 | +€1,216 | +204% |
| Taxes, remuneration and social security | 45 | €2,404 | €14,667 | +€12,263 | +510% |
| Taxes | 450/3 | €2,404 | €14,667 | +€12,263 | +510% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,701 | €9,768 | +€7,067 | +262% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €65,981 | €112,447 | +€46,466 | +70.4% |
| Operating profit (loss) | 9901 | €62,711 | €102,094 | +€39,383 | +62.8% |
| Financial income | 75/76B | €4,159 | €5,378 | +€1,219 | +29.3% |
| Recurring financial income | 75 | €4,159 | €5,378 | +€1,219 | +29.3% |
| Financial charges | 65/66B | €670 | €961 | +€291 | +43.5% |
| Recurring financial charges | 65 | €670 | €961 | +€291 | +43.5% |
| Profit (loss) for the period before taxes | 9903 | €66,201 | €106,511 | +€40,310 | +60.9% |
| Income taxes | 67/77 | €13,908 | €30,477 | +€16,568 | +119% |
| Profit (loss) for the period | 9904 | €52,292 | €76,034 | +€23,742 | +45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €52,292 | €76,034 | +€23,742 | +45.4% |
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 16 October 2026 via checked.be.