HUGO HOLLEMANS: 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 HOLLEMANS
Largest movements
- Cash -€180,974
down €180,974 (-76.1%), from €237,946 to €56,972
mainly Investment in fixed assets (net) (-€148,300) and Receivables within one year (-€43,761)
- Tangible fixed assets +€131,152
up €131,152 (+424%), from €30,962 to €162,114
of which Land and buildings: +€132,702
- Receivables within one year +€43,761
up €43,761 (+16.5%), from €264,770 to €308,532
of which Other amounts receivable: +€45,261
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€13,276
down €13,276 (-42.8%), from €31,014 to €17,737
- Depreciation +€12,021
up €12,021 (+234%), from €5,127 to €17,148
- Financial income -€6,612
no longer reported in 2025 (was €6,612)
- Taxes -€5,991
down €5,991 (-61.5%), from €9,740 to €3,749
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 | €533,732 | €527,671 | -€6,060 | -1.1% |
| Fixed assets | 21/28 | €31,015 | €162,168 | +€131,152 | +423% |
| Tangible fixed assets | 22/27 | €30,962 | €162,114 | +€131,152 | +424% |
| Land and buildings | 22 | €23,216 | €155,917 | +€132,702 | +572% |
| Plant, machinery and equipment | 23 | €5,931 | €4,745 | -€1,186 | -20.0% |
| Furniture and vehicles | 24 | €1,815 | €1,452 | -€363 | -20.0% |
| Financial fixed assets | 28 | €54 | €54 | = | 0.0% |
| Current assets | 29/58 | €502,716 | €365,504 | -€137,213 | -27.3% |
| Amounts receivable within one year | 40/41 | €264,770 | €308,532 | +€43,761 | +16.5% |
| Trade receivables | 40 | €7,954 | €6,454 | -€1,500 | -18.9% |
| Other amounts receivable | 41 | €256,816 | €302,077 | +€45,261 | +17.6% |
| Cash at bank and in hand | 54/58 | €237,946 | €56,972 | -€180,974 | -76.1% |
| Total equity and liabilities | 10/49 | €533,732 | €527,671 | -€6,060 | -1.1% |
| Equity | 10/15 | €527,987 | €523,021 | -€4,966 | -0.9% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €201,488 | €201,488 | = | 0.0% |
| Distributable reserves | 133 | €201,488 | €201,488 | = | 0.0% |
| Profit (loss) carried forward | 14 | €301,709 | €296,744 | -€4,966 | -1.6% |
| Amounts payable | 17/49 | €5,745 | €4,650 | -€1,095 | -19.1% |
| Amounts payable within one year | 42/48 | €5,745 | €3,670 | -€2,075 | -36.1% |
| Current portion of amounts payable after more than one year | 42 | €1,667 | €833 | -€833 | -50.0% |
| Trade debts | 44 | €1,241 | - | -€1,241 | |
| Suppliers | 440/4 | €1,241 | - | -€1,241 | |
| Taxes, remuneration and social security | 45 | €2,837 | €2,837 | = | 0.0% |
| Taxes | 450/3 | €2,837 | €2,837 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €980 | +€980 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,127 | €17,148 | +€12,021 | +234% |
| Other operating charges | 640/8 | €1,484 | €1,550 | +€66 | +4.5% |
| Gross operating margin | 9900 | €31,014 | €17,737 | -€13,276 | -42.8% |
| Operating profit (loss) | 9901 | €24,403 | -€960 | -€25,363 | |
| Financial income | 75/76B | €6,612 | - | -€6,612 | |
| Recurring financial income | 75 | €6,612 | - | -€6,612 | |
| Financial charges | 65/66B | €202 | €257 | +€55 | +27.2% |
| Recurring financial charges | 65 | €202 | €257 | +€55 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €30,813 | -€1,217 | -€32,030 | |
| Income taxes | 67/77 | €9,740 | €3,749 | -€5,991 | -61.5% |
| Profit (loss) for the period | 9904 | €21,074 | -€4,966 | -€26,039 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,074 | -€4,966 | -€26,039 |
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 17 October 2026 via checked.be.