HULGENRODE: 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.
HULGENRODE
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+158.4%), from €772,473 to €2.0m
of which Land and buildings: +€1.3m
- Current investments -€35,000
down €35,000 (-11.0%), from €317,105 to €282,105
- Cash +€23,941
up €23,941 (+530.7%), from €4,511 to €28,453
mainly Net result for the year (+€636,448) and Provisions (+€326,533)
- Reserves +€979,598
up €979,598 (+1898.6%), from €51,597 to €1.0m
of which Tax-exempt reserves: +€979,598
- Profit (loss) carried forward -€343,150
down €343,150 (-172.9%), from -€198,452 to -€541,602
- Provisions +€326,533
new in 2025: €326,533
- Other debts +€255,237
up €255,237 (+60.5%), from €421,770 to €677,006
- Gross operating margin +€1.2m
up €1.2m, from -€524 to €1.2m
- Other operating charges +€248,373
up €248,373 (+5729.6%), from €4,335 to €252,708
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.
Cash bridge derived
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 | €1,096,663 | €2,307,772 | +€1.2m | +110.4% |
| Fixed assets | 21/28 | €772,473 | €1,996,065 | +€1.2m | +158.4% |
| Tangible fixed assets | 22/27 | €772,473 | €1,996,065 | +€1.2m | +158.4% |
| Land and buildings | 22 | €722,170 | €1,986,227 | +€1.3m | +175.0% |
| Plant, machinery and equipment | 23 | €50,303 | €9,838 | -€40,465 | -80.4% |
| Current assets | 29/58 | €324,190 | €311,707 | -€12,483 | -3.9% |
| Amounts receivable within one year | 40/41 | €1,424 | - | -€1,424 | |
| Trade receivables | 40 | €1,407 | - | -€1,407 | |
| Other amounts receivable | 41 | €17 | - | -€17 | |
| Current investments | 50/53 | €317,105 | €282,105 | -€35,000 | -11.0% |
| Cash at bank and in hand | 54/58 | €4,511 | €28,453 | +€23,941 | +530.7% |
| Deferred charges and accrued income | 490/1 | €1,150 | €1,150 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,096,663 | €2,307,772 | +€1.2m | +110.4% |
| Equity | 10/15 | €666,585 | €1,303,033 | +€636,448 | +95.5% |
| Contributions | 10/11 | €813,440 | €813,440 | = | 0.0% |
| Contributions outside capital | 11 | €813,440 | €813,440 | = | 0.0% |
| Other | 1109/19 | €813,440 | €813,440 | = | 0.0% |
| Reserves | 13 | €51,597 | €1,031,195 | +€979,598 | +1898.6% |
| Non-distributable reserves | 130/1 | €2,301 | €2,301 | = | 0.0% |
| Legal reserve | 130 | €2,301 | €2,301 | = | 0.0% |
| Tax-exempt reserves | 132 | €66 | €979,664 | +€979,598 | +1478192.3% |
| Distributable reserves | 133 | €49,229 | €49,229 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€198,452 | -€541,602 | -€343,150 | -172.9% |
| Provisions and deferred taxes | 16 | - | €326,533 | +€326,533 | |
| Deferred taxes | 168 | - | €326,533 | +€326,533 | |
| Amounts payable | 17/49 | €430,078 | €678,207 | +€248,128 | +57.7% |
| Amounts payable within one year | 42/48 | €430,078 | €678,207 | +€248,128 | +57.7% |
| Trade debts | 44 | €7,826 | €718 | -€7,108 | -90.8% |
| Suppliers | 440/4 | €7,826 | €718 | -€7,108 | -90.8% |
| Taxes, remuneration and social security | 45 | €482 | €482 | = | 0.0% |
| Taxes | 450/3 | €482 | €482 | = | 0.0% |
| Other amounts payable | 47/48 | €421,770 | €677,006 | +€255,237 | +60.5% |
| Non-recurring operating income | 76A | €19 | - | -€19 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,814 | €21,902 | -€6,911 | -24.0% |
| Other operating charges | 640/8 | €4,335 | €252,708 | +€248,373 | +5729.6% |
| Gross operating margin | 9900 | -€524 | €1,246,539 | +€1.2m | |
| Operating profit (loss) | 9901 | -€33,673 | €971,928 | +€1.0m | |
| Financial income | 75/76B | €10,508 | - | -€10,508 | |
| Recurring financial income | 75 | €10,508 | - | -€10,508 | |
| Financial charges | 65/66B | €62 | €8,947 | +€8,885 | +14421.7% |
| Recurring financial charges | 65 | €62 | €8,947 | +€8,885 | +14421.7% |
| Profit (loss) for the period before taxes | 9903 | -€23,226 | €962,981 | +€986,207 | |
| Transfer to deferred taxes | 680 | - | €326,533 | +€326,533 | |
| Income taxes | 67/77 | €3,635 | - | -€3,635 | |
| Profit (loss) for the period | 9904 | -€26,861 | €636,448 | +€663,309 | |
| Transfer to tax-exempt reserves | 689 | - | €979,598 | +€979,598 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,861 | -€343,150 | -€316,289 | -1177.5% |
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 9 October 2026 via checked.be.