HUGUES CISELET: 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.
HUGUES CISELET
Largest movements
- Financial fixed assets +€1.6m
up €1.6m (+147.2%), from €1.1m to €2.6m
- Receivables after one year -€1.4m
down €1.4m (-81.5%), from €1.8m to €325,426
- Receivables within one year -€433,982
down €433,982 (-38.9%), from €1.1m to €680,884
of which Other amounts receivable: -€444,667
- Cash -€117,346
down €117,346 (-91.0%), from €128,908 to €11,562
mainly Investment in fixed assets (net) (-€1.6m) and Contributions, distributions and other (-€789,668)
- Tangible fixed assets -€56,564
down €56,564 (-7.7%), from €732,710 to €676,146
of which Land and buildings: -€40,675
- Reserves -€789,668
down €789,668 (-54.6%), from €1.4m to €657,864
of which Distributable reserves: -€789,668
- Other debts +€484,576
up €484,576 (+47.6%), from €1.0m to €1.5m
- Profit (loss) carried forward -€190,502
down €190,502 (-194.1%), from -€98,152 to -€288,654
- Gross operating margin -€244,498
down €244,498, from €124,972 to -€119,526
- Depreciation -€24,730
down €24,730 (-25.4%), from €97,529 to €72,799
- Financial income -€4,037
down €4,037 (-6.4%), from €63,564 to €59,527
- Other operating charges -€1,290
down €1,290 (-10.1%), from €12,730 to €11,441
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,809,888 | €4,326,774 | -€483,115 | -10.0% |
| Fixed assets | 21/28 | €1,792,419 | €3,295,356 | +€1.5m | +83.8% |
| Tangible fixed assets | 22/27 | €732,710 | €676,146 | -€56,564 | -7.7% |
| Land and buildings | 22 | €493,759 | €453,084 | -€40,675 | -8.2% |
| Furniture and vehicles | 24 | €70,192 | €50,205 | -€19,987 | -28.5% |
| Other tangible fixed assets | 26 | €168,759 | €172,857 | +€4,098 | +2.4% |
| Financial fixed assets | 28 | €1,059,709 | €2,619,210 | +€1.6m | +147.2% |
| Current assets | 29/58 | €3,017,469 | €1,031,418 | -€2.0m | -65.8% |
| Amounts receivable after more than one year | 29 | €1,756,926 | €325,426 | -€1.4m | -81.5% |
| Other amounts receivable | 291 | €1,756,926 | €325,426 | -€1.4m | -81.5% |
| Amounts receivable within one year | 40/41 | €1,114,866 | €680,884 | -€433,982 | -38.9% |
| Trade receivables | 40 | €17,965 | €28,649 | +€10,685 | +59.5% |
| Other amounts receivable | 41 | €1,096,901 | €652,235 | -€444,667 | -40.5% |
| Current investments | 50/53 | €10,335 | €10,327 | -€8 | -0.1% |
| Cash at bank and in hand | 54/58 | €128,908 | €11,562 | -€117,346 | -91.0% |
| Deferred charges and accrued income | 490/1 | €6,435 | €3,219 | -€3,215 | -50.0% |
| Total equity and liabilities | 10/49 | €4,809,888 | €4,326,774 | -€483,115 | -10.0% |
| Equity | 10/15 | €1,367,980 | €387,810 | -€980,170 | -71.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,447,532 | €657,864 | -€789,668 | -54.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,445,672 | €656,004 | -€789,668 | -54.6% |
| Profit (loss) carried forward | 14 | -€98,152 | -€288,654 | -€190,502 | -194.1% |
| Amounts payable | 17/49 | €3,441,908 | €3,938,963 | +€497,055 | +14.4% |
| Amounts payable after more than one year | 17 | €2,359,127 | €2,353,065 | -€6,062 | -0.3% |
| Financial debts | 170/4 | €2,359,127 | €2,353,065 | -€6,062 | -0.3% |
| Amounts payable within one year | 42/48 | €1,082,781 | €1,585,702 | +€502,921 | +46.4% |
| Current portion of amounts payable after more than one year | 42 | €41,916 | €42,453 | +€537 | +1.3% |
| Financial debts | 43 | €624 | - | -€624 | |
| Credit institutions | 430/8 | €624 | - | -€624 | |
| Trade debts | 44 | €19,199 | €34,592 | +€15,394 | +80.2% |
| Suppliers | 440/4 | €19,199 | €34,592 | +€15,394 | +80.2% |
| Taxes, remuneration and social security | 45 | €2,165 | €5,205 | +€3,039 | +140.4% |
| Taxes | 450/3 | €2,165 | €2,505 | +€340 | +15.7% |
| Remuneration and social security | 454/9 | - | €2,699 | +€2,699 | |
| Other amounts payable | 47/48 | €1,018,877 | €1,503,453 | +€484,576 | +47.6% |
| Accrued charges and deferred income | 492/3 | - | €196 | +€196 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,529 | €72,799 | -€24,730 | -25.4% |
| Other operating charges | 640/8 | €12,730 | €11,441 | -€1,290 | -10.1% |
| Gross operating margin | 9900 | €124,972 | -€119,526 | -€244,498 | |
| Operating profit (loss) | 9901 | €14,713 | -€203,765 | -€218,478 | |
| Financial income | 75/76B | €63,564 | €59,527 | -€4,037 | -6.4% |
| Recurring financial income | 75 | €63,564 | €59,527 | -€4,037 | -6.4% |
| Financial charges | 65/66B | €44,796 | €44,829 | +€33 | +0.1% |
| Recurring financial charges | 65 | €44,796 | €44,829 | +€33 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €33,481 | -€189,067 | -€222,548 | |
| Income taxes | 67/77 | €1,140 | €1,435 | +€295 | +25.8% |
| Profit (loss) for the period | 9904 | €32,341 | -€190,502 | -€222,843 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,341 | -€190,502 | -€222,843 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.