Hullutions: 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.
Hullutions
Largest movements
- Cash +€22,584
up €22,584 (+33.7%), from €66,952 to €89,536
mainly Net result for the year (+€25,525) and Receivables within one year (+€3,511)
- Receivables within one year -€3,511
down €3,511 (-18.7%), from €18,770 to €15,259
of which Trade receivables: -€4,250
- Reserves +€24,692
up €24,692 (+40.2%), from €61,373 to €86,065
- Tax, wage and social debts -€3,280
down €3,280 (-17.1%), from €19,173 to €15,893
of which Taxes: -€3,280
- Other debts -€2,193
down €2,193 (-75.5%), from €2,903 to €710
- Gross operating margin -€7,432
down €7,432 (-18.1%), from €40,991 to €33,559
- Taxes -€1,575
down €1,575 (-18.2%), from €8,651 to €7,075
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 | €87,497 | €106,245 | +€18,748 | +21.4% |
| Fixed assets | 21/28 | €732 | €412 | -€319 | -43.6% |
| Tangible fixed assets | 22/27 | €732 | €387 | -€344 | -47.0% |
| Furniture and vehicles | 24 | €732 | €387 | -€344 | -47.0% |
| Financial fixed assets | 28 | - | €25 | +€25 | |
| Current assets | 29/58 | €86,766 | €105,832 | +€19,067 | +22.0% |
| Amounts receivable within one year | 40/41 | €18,770 | €15,259 | -€3,511 | -18.7% |
| Trade receivables | 40 | €18,770 | €14,520 | -€4,250 | -22.6% |
| Other amounts receivable | 41 | €0 | €739 | +€739 | |
| Cash at bank and in hand | 54/58 | €66,952 | €89,536 | +€22,584 | +33.7% |
| Deferred charges and accrued income | 490/1 | €1,043 | €1,038 | -€5 | -0.5% |
| Total equity and liabilities | 10/49 | €87,497 | €106,245 | +€18,748 | +21.4% |
| Equity | 10/15 | €64,373 | €89,065 | +€24,692 | +38.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €61,373 | €86,065 | +€24,692 | +40.2% |
| Distributable reserves | 133 | €61,373 | €86,065 | +€24,692 | +40.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,124 | €17,180 | -€5,945 | -25.7% |
| Amounts payable within one year | 42/48 | €23,124 | €17,180 | -€5,945 | -25.7% |
| Trade debts | 44 | €1,048 | €577 | -€471 | -44.9% |
| Suppliers | 440/4 | €1,048 | €577 | -€471 | -44.9% |
| Taxes, remuneration and social security | 45 | €19,173 | €15,893 | -€3,280 | -17.1% |
| Taxes | 450/3 | €19,173 | €15,893 | -€3,280 | -17.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,903 | €710 | -€2,193 | -75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €301 | €344 | +€43 | +14.4% |
| Other operating charges | 640/8 | €464 | €483 | +€19 | +4.0% |
| Gross operating margin | 9900 | €40,991 | €33,559 | -€7,432 | -18.1% |
| Operating profit (loss) | 9901 | €40,226 | €32,732 | -€7,494 | -18.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €44 | €131 | +€88 | +201% |
| Recurring financial charges | 65 | €44 | €131 | +€88 | +201% |
| Profit (loss) for the period before taxes | 9903 | €40,182 | €32,601 | -€7,581 | -18.9% |
| Income taxes | 67/77 | €8,651 | €7,075 | -€1,575 | -18.2% |
| Profit (loss) for the period | 9904 | €31,531 | €25,525 | -€6,006 | -19.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,531 | €25,525 | -€6,006 | -19.0% |
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 15 October 2026 via checked.be.