Hurae: 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.
Hurae
Largest movements
- Receivables within one year +€86,429
up €86,429 (+23.2%), from €372,515 to €458,944
of which Trade receivables: +€55,461
- Cash -€55,662
down €55,662 (-61.2%), from €90,973 to €35,311
mainly Receivables within one year (-€86,429) and Short-term financial debts (-€44,343)
- Tangible fixed assets -€33,027
down €33,027 (-35.5%), from €93,150 to €60,123
of which Plant, machinery and equipment: -€35,046
- Trade debts +€132,933
up €132,933 (+50.4%), from €263,720 to €396,654
- Short-term financial debts -€44,343
down €44,343 (-42.5%), from €104,423 to €60,079
of which Credit institutions: -€65,921
- Accrued charges and deferred income -€36,951
down €36,951 (-69.0%), from €53,552 to €16,601
- Profit (loss) carried forward -€19,706
new in 2025: -€19,706
- Tax, wage and social debts -€17,901
down €17,901 (-21.6%), from €83,014 to €65,113
of which Taxes: -€35,069
- Write-downs -€87,929
new in 2025: -€87,929
- Other operating charges +€85,530
up €85,530 (+3,530%), from €2,423 to €87,953
- Financial charges +€18,742
up €18,742 (+354%), from €5,289 to €24,030
- Financial income -€17,010
down €17,010 (-87.7%), from €19,394 to €2,384
- Gross operating margin -€12,482
down €12,482 (-3.2%), from €391,229 to €378,748
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 | €569,016 | €561,443 | -€7,573 | -1.3% |
| Fixed assets | 21/28 | €93,150 | €60,123 | -€33,027 | -35.5% |
| Tangible fixed assets | 22/27 | €93,150 | €60,123 | -€33,027 | -35.5% |
| Plant, machinery and equipment | 23 | €63,548 | €28,502 | -€35,046 | -55.1% |
| Furniture and vehicles | 24 | €18,231 | €31,622 | +€13,390 | +73.4% |
| Leasing and similar rights | 25 | €11,371 | - | -€11,371 | |
| Current assets | 29/58 | €475,866 | €501,320 | +€25,454 | +5.3% |
| Amounts receivable within one year | 40/41 | €372,515 | €458,944 | +€86,429 | +23.2% |
| Trade receivables | 40 | €365,704 | €421,164 | +€55,461 | +15.2% |
| Other amounts receivable | 41 | €6,811 | €37,779 | +€30,968 | +455% |
| Cash at bank and in hand | 54/58 | €90,973 | €35,311 | -€55,662 | -61.2% |
| Deferred charges and accrued income | 490/1 | €12,378 | €7,065 | -€5,313 | -42.9% |
| Total equity and liabilities | 10/49 | €569,016 | €561,443 | -€7,573 | -1.3% |
| Equity | 10/15 | €30,145 | €10,439 | -€19,706 | -65.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,545 | €11,545 | = | 0.0% |
| Distributable reserves | 133 | €11,545 | €11,545 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€19,706 | -€19,706 | |
| Amounts payable | 17/49 | €538,871 | €551,004 | +€12,133 | +2.3% |
| Amounts payable after more than one year | 17 | €14,037 | - | -€14,037 | |
| Financial debts | 170/4 | €14,037 | - | -€14,037 | |
| Amounts payable within one year | 42/48 | €471,281 | €534,403 | +€63,122 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €16,667 | €12,557 | -€4,109 | -24.7% |
| Financial debts | 43 | €104,423 | €60,079 | -€44,343 | -42.5% |
| Credit institutions | 430/8 | €100,000 | €34,079 | -€65,921 | -65.9% |
| Other loans | 439 | €4,423 | €26,000 | +€21,577 | +488% |
| Trade debts | 44 | €263,720 | €396,654 | +€132,933 | +50.4% |
| Suppliers | 440/4 | €263,720 | €396,654 | +€132,933 | +50.4% |
| Taxes, remuneration and social security | 45 | €83,014 | €65,113 | -€17,901 | -21.6% |
| Taxes | 450/3 | €67,116 | €32,047 | -€35,069 | -52.3% |
| Remuneration and social security | 454/9 | €15,898 | €33,066 | +€17,168 | +108% |
| Other amounts payable | 47/48 | €3,458 | - | -€3,458 | |
| Accrued charges and deferred income | 492/3 | €53,552 | €16,601 | -€36,951 | -69.0% |
| Non-recurring operating income | 76A | - | €2,815 | +€2,815 | |
| Remuneration, social security and pensions | 62 | €361,823 | €353,392 | -€8,431 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,730 | €23,391 | -€6,338 | -21.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€87,929 | -€87,929 | |
| Other operating charges | 640/8 | €2,423 | €87,953 | +€85,530 | +3,530% |
| Non-recurring operating charges | 66A | €35,000 | - | -€35,000 | |
| Gross operating margin | 9900 | €391,229 | €378,748 | -€12,482 | -3.2% |
| Operating profit (loss) | 9901 | -€37,746 | €1,940 | +€39,687 | |
| Financial income | 75/76B | €19,394 | €2,384 | -€17,010 | -87.7% |
| Recurring financial income | 75 | €19,394 | €2,384 | -€17,010 | -87.7% |
| Financial charges | 65/66B | €5,289 | €24,030 | +€18,742 | +354% |
| Recurring financial charges | 65 | €5,289 | €24,030 | +€18,742 | +354% |
| Profit (loss) for the period before taxes | 9903 | -€23,641 | -€19,706 | +€3,934 | +16.6% |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€23,641 | -€19,706 | +€3,934 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,641 | -€19,706 | +€3,934 | +16.6% |
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.