Hullak&Hullak: 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.
Hullak&Hullak
Largest movements
- Tangible fixed assets -€54,160
down €54,160 (-11.7%), from €463,359 to €409,199
of which Furniture and vehicles: -€28,902
- Receivables within one year +€14,048
up €14,048, from €0 to €14,048
of which Trade receivables: +€14,048
- Stocks and contracts +€9,894
up €9,894 (+10.2%), from €97,010 to €106,904
- Cash -€6,428
down €6,428 (-58.2%), from €11,037 to €4,610
mainly Contributions, distributions and other (-€100,000) and Debts after one year (-€17,965)
- Reserves -€94,886
down €94,886 (-80.9%), from €117,341 to €22,455
- Other debts +€45,039
up €45,039 (+255%), from €17,651 to €62,690
- Tax, wage and social debts +€18,131
up €18,131 (+43.0%), from €42,174 to €60,305
of which Taxes: +€15,796
- Debts after one year -€17,965
down €17,965 (-5.2%), from €346,228 to €328,263
- Current portion of long-term debt +€11,541
up €11,541 (+28.5%), from €40,508 to €52,049
- Gross operating margin +€29,632
up €29,632 (+16.5%), from €179,453 to €209,086
- Financial income -€19,958
down €19,958 (-99.4%), from €20,081 to €123
of which Non-recurring financial income: -€20,000
- Staff costs +€16,271
up €16,271 (+15.0%), from €108,723 to €124,994
- Taxes +€5,912
up €5,912, from -€1,944 to €3,968
- Financial charges +€4,571
up €4,571 (+90.2%), from €5,065 to €9,637
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 | €576,406 | €540,430 | -€35,976 | -6.2% |
| Fixed assets | 21/28 | €463,359 | €409,249 | -€54,110 | -11.7% |
| Tangible fixed assets | 22/27 | €463,359 | €409,199 | -€54,160 | -11.7% |
| Land and buildings | 22 | €319,168 | €297,951 | -€21,218 | -6.6% |
| Plant, machinery and equipment | 23 | €14,680 | €13,158 | -€1,522 | -10.4% |
| Furniture and vehicles | 24 | €117,657 | €88,754 | -€28,902 | -24.6% |
| Other tangible fixed assets | 26 | €11,854 | €9,335 | -€2,519 | -21.2% |
| Financial fixed assets | 28 | - | €50 | +€50 | |
| Current assets | 29/58 | €113,048 | €131,182 | +€18,134 | +16.0% |
| Stocks and contracts in progress | 3 | €97,010 | €106,904 | +€9,894 | +10.2% |
| Stocks | 30/36 | €97,010 | €106,904 | +€9,894 | +10.2% |
| Amounts receivable within one year | 40/41 | €0 | €14,048 | +€14,048 | |
| Trade receivables | 40 | - | €14,048 | +€14,048 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €11,037 | €4,610 | -€6,428 | -58.2% |
| Deferred charges and accrued income | 490/1 | €0 | €621 | +€621 | |
| Total equity and liabilities | 10/49 | €576,406 | €540,430 | -€35,976 | -6.2% |
| Equity | 10/15 | €124,841 | €29,955 | -€94,886 | -76.0% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €117,341 | €22,455 | -€94,886 | -80.9% |
| Distributable reserves | 133 | €117,341 | €22,455 | -€94,886 | -80.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €451,565 | €510,475 | +€58,910 | +13.0% |
| Amounts payable after more than one year | 17 | €346,228 | €328,263 | -€17,965 | -5.2% |
| Financial debts | 170/4 | €346,228 | €328,263 | -€17,965 | -5.2% |
| Amounts payable within one year | 42/48 | €105,337 | €182,212 | +€76,875 | +73.0% |
| Current portion of amounts payable after more than one year | 42 | €40,508 | €52,049 | +€11,541 | +28.5% |
| Trade debts | 44 | €5,004 | €7,168 | +€2,164 | +43.2% |
| Suppliers | 440/4 | €5,004 | €7,168 | +€2,164 | +43.2% |
| Taxes, remuneration and social security | 45 | €42,174 | €60,305 | +€18,131 | +43.0% |
| Taxes | 450/3 | €25,570 | €41,366 | +€15,796 | +61.8% |
| Remuneration and social security | 454/9 | €16,605 | €18,939 | +€2,335 | +14.1% |
| Other amounts payable | 47/48 | €17,651 | €62,690 | +€45,039 | +255% |
| Remuneration, social security and pensions | 62 | €108,723 | €124,994 | +€16,271 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,927 | €60,873 | -€3,054 | -4.8% |
| Other operating charges | 640/8 | €3,798 | €4,623 | +€825 | +21.7% |
| Gross operating margin | 9900 | €179,453 | €209,086 | +€29,632 | +16.5% |
| Operating profit (loss) | 9901 | €3,006 | €18,596 | +€15,590 | +519% |
| Financial income | 75/76B | €20,081 | €123 | -€19,958 | -99.4% |
| Recurring financial income | 75 | €81 | €123 | +€42 | +52.3% |
| Non-recurring financial income | 76B | €20,000 | €0 | -€20,000 | -100% |
| Financial charges | 65/66B | €5,065 | €9,637 | +€4,571 | +90.2% |
| Recurring financial charges | 65 | €5,065 | €9,637 | +€4,571 | +90.2% |
| Profit (loss) for the period before taxes | 9903 | €18,021 | €9,083 | -€8,939 | -49.6% |
| Income taxes | 67/77 | -€1,944 | €3,968 | +€5,912 | |
| Profit (loss) for the period | 9904 | €19,965 | €5,114 | -€14,851 | -74.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,965 | €5,114 | -€14,851 | -74.4% |
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 29 October 2026 via checked.be.