Hulpiau Hides: 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.
Hulpiau Hides
Largest movements
- Receivables within one year -€195,055
down €195,055 (-57.0%), from €342,287 to €147,232
of which Trade receivables: -€183,622
- Tangible fixed assets +€71,049
up €71,049 (+41.7%), from €170,211 to €241,260
of which Land and buildings: +€50,731
- Cash +€42,184
up €42,184 (+27.6%), from €152,592 to €194,776
mainly Receivables within one year (+€195,055) and Depreciation (+€79,478)
- Stocks and contracts -€19,850
down €19,850 (-12.5%), from €158,350 to €138,500
- Intangible fixed assets -€18,000
down €18,000 (-38.2%), from €47,141 to €29,141
- Trade debts -€177,547
down €177,547 (-77.5%), from €229,214 to €51,667
- Other debts +€57,449
up €57,449 (+14.5%), from €396,358 to €453,807
- Reserves +€42,316
up €42,316 (+61.2%), from €69,122 to €111,438
- Debts after one year -€35,940
down €35,940 (-32.2%), from €111,626 to €75,686
- Tax, wage and social debts -€10,386
down €10,386 (-22.4%), from €46,319 to €35,934
of which Remuneration and social security: -€7,859
- Gross operating margin +€100,396
up €100,396 (+32.7%), from €306,635 to €407,031
- Staff costs +€39,145
up €39,145 (+18.6%), from €210,723 to €249,867
- Financial charges +€8,560
up €8,560 (+90.5%), from €9,455 to €18,015
- Taxes +€8,154
up €8,154 (+181.6%), from €4,489 to €12,643
- Depreciation +€4,381
up €4,381 (+5.8%), from €75,097 to €79,478
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 | €890,329 | €766,472 | -€123,858 | -13.9% |
| Fixed assets | 21/28 | €217,352 | €270,401 | +€53,049 | +24.4% |
| Intangible fixed assets | 21 | €47,141 | €29,141 | -€18,000 | -38.2% |
| Tangible fixed assets | 22/27 | €170,211 | €241,260 | +€71,049 | +41.7% |
| Land and buildings | 22 | €10,299 | €61,030 | +€50,731 | +492.6% |
| Plant, machinery and equipment | 23 | €151,275 | €177,169 | +€25,893 | +17.1% |
| Furniture and vehicles | 24 | €8,636 | €3,062 | -€5,574 | -64.5% |
| Current assets | 29/58 | €672,978 | €496,070 | -€176,907 | -26.3% |
| Stocks and contracts in progress | 3 | €158,350 | €138,500 | -€19,850 | -12.5% |
| Stocks | 30/36 | €158,350 | €138,500 | -€19,850 | -12.5% |
| Amounts receivable within one year | 40/41 | €342,287 | €147,232 | -€195,055 | -57.0% |
| Trade receivables | 40 | €299,533 | €115,911 | -€183,622 | -61.3% |
| Other amounts receivable | 41 | €42,754 | €31,321 | -€11,433 | -26.7% |
| Cash at bank and in hand | 54/58 | €152,592 | €194,776 | +€42,184 | +27.6% |
| Deferred charges and accrued income | 490/1 | €19,749 | €15,563 | -€4,186 | -21.2% |
| Total equity and liabilities | 10/49 | €890,329 | €766,472 | -€123,858 | -13.9% |
| Equity | 10/15 | €71,122 | €113,438 | +€42,316 | +59.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €69,122 | €111,438 | +€42,316 | +61.2% |
| Distributable reserves | 133 | €69,122 | €111,438 | +€42,316 | +61.2% |
| Amounts payable | 17/49 | €819,207 | €653,033 | -€166,174 | -20.3% |
| Amounts payable after more than one year | 17 | €111,626 | €75,686 | -€35,940 | -32.2% |
| Financial debts | 170/4 | €111,626 | €75,686 | -€35,940 | -32.2% |
| Amounts payable within one year | 42/48 | €707,581 | €577,347 | -€130,234 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €35,690 | €35,940 | +€250 | +0.7% |
| Trade debts | 44 | €229,214 | €51,667 | -€177,547 | -77.5% |
| Suppliers | 440/4 | €229,214 | €51,667 | -€177,547 | -77.5% |
| Taxes, remuneration and social security | 45 | €46,319 | €35,934 | -€10,386 | -22.4% |
| Taxes | 450/3 | €6,322 | €3,796 | -€2,527 | -40.0% |
| Remuneration and social security | 454/9 | €39,997 | €32,138 | -€7,859 | -19.6% |
| Other amounts payable | 47/48 | €396,358 | €453,807 | +€57,449 | +14.5% |
| Non-recurring operating income | 76A | - | €36,937 | +€36,937 | |
| Remuneration, social security and pensions | 62 | €210,723 | €249,867 | +€39,145 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,097 | €79,478 | +€4,381 | +5.8% |
| Other operating charges | 640/8 | €9,799 | €9,659 | -€140 | -1.4% |
| Gross operating margin | 9900 | €306,635 | €407,031 | +€100,396 | +32.7% |
| Operating profit (loss) | 9901 | €11,016 | €68,027 | +€57,010 | +517.5% |
| Financial income | 75/76B | €4,242 | €4,947 | +€705 | +16.6% |
| Recurring financial income | 75 | €3,780 | €4,947 | +€1,167 | +30.9% |
| Non-recurring financial income | 76B | €462 | - | -€462 | |
| Financial charges | 65/66B | €9,455 | €18,015 | +€8,560 | +90.5% |
| Recurring financial charges | 65 | €9,455 | €18,015 | +€8,560 | +90.5% |
| Profit (loss) for the period before taxes | 9903 | €5,804 | €54,959 | +€49,155 | +846.9% |
| Income taxes | 67/77 | €4,489 | €12,643 | +€8,154 | +181.6% |
| Profit (loss) for the period | 9904 | €1,315 | €42,316 | +€41,001 | +3117.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,315 | €42,316 | +€41,001 | +3117.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.