HURARD: 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.
HURARD
Largest movements
- Receivables after one year -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Cash +€15,439
up €15,439 (+38.6%), from €39,958 to €55,397
mainly Receivables after one year (+€25,000) and Net result for the year (+€11,908)
- Tangible fixed assets -€7,498
down €7,498 (-29.7%), from €25,256 to €17,758
of which Furniture and vehicles: -€7,844
- Receivables within one year -€3,404
down €3,404 (-81.3%), from €4,186 to €782
of which Other amounts receivable: -€1,992
- Contributions -€17,600
down €17,600 (-94.6%), from €18,600 to €1,000
- Other debts +€11,711
up €11,711 (+361.2%), from €3,242 to €14,953
- Reserves -€11,543
down €11,543 (-21.9%), from €52,814 to €41,271
of which Distributable reserves: -€11,543
- Debts after one year -€3,992
down €3,992 (-30.2%), from €13,212 to €9,219
- Gross operating margin +€15,800
up €15,800 (+145.9%), from €10,828 to €26,628
- Taxes +€4,315
up €4,315 (+2629.2%), from €164 to €4,479
- Financial income -€501
down €501 (-68.6%), from €729 to €229
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 | €95,104 | €74,135 | -€20,969 | -22.0% |
| Fixed assets | 21/28 | €25,922 | €17,758 | -€8,165 | -31.5% |
| Intangible fixed assets | 21 | €667 | €0 | -€667 | -100.0% |
| Tangible fixed assets | 22/27 | €25,256 | €17,758 | -€7,498 | -29.7% |
| Plant, machinery and equipment | 23 | €693 | €1,039 | +€346 | +49.9% |
| Furniture and vehicles | 24 | €24,563 | €16,719 | -€7,844 | -31.9% |
| Current assets | 29/58 | €69,181 | €56,377 | -€12,804 | -18.5% |
| Amounts receivable after more than one year | 29 | €25,000 | €0 | -€25,000 | -100.0% |
| Other amounts receivable | 291 | €25,000 | €0 | -€25,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €4,186 | €782 | -€3,404 | -81.3% |
| Trade receivables | 40 | €1,413 | €0 | -€1,412 | -100.0% |
| Other amounts receivable | 41 | €2,773 | €781 | -€1,992 | -71.8% |
| Cash at bank and in hand | 54/58 | €39,958 | €55,397 | +€15,439 | +38.6% |
| Deferred charges and accrued income | 490/1 | €37 | €199 | +€162 | +441.7% |
| Total equity and liabilities | 10/49 | €95,104 | €74,135 | -€20,969 | -22.0% |
| Equity | 10/15 | €71,414 | €42,271 | -€29,143 | -40.8% |
| Contributions | 10/11 | €18,600 | €1,000 | -€17,600 | -94.6% |
| Reserves | 13 | €52,814 | €41,271 | -€11,543 | -21.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €52,814 | €41,271 | -€11,543 | -21.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,689 | €31,864 | +€8,175 | +34.5% |
| Amounts payable after more than one year | 17 | €13,212 | €9,219 | -€3,992 | -30.2% |
| Financial debts | 170/4 | €13,212 | €9,219 | -€3,992 | -30.2% |
| Amounts payable within one year | 42/48 | €10,478 | €22,645 | +€12,167 | +116.1% |
| Current portion of amounts payable after more than one year | 42 | €3,836 | €3,992 | +€157 | +4.1% |
| Trade debts | 44 | €1,107 | €1,400 | +€292 | +26.4% |
| Suppliers | 440/4 | €1,107 | €1,400 | +€292 | +26.4% |
| Taxes, remuneration and social security | 45 | €2,293 | €2,300 | +€7 | +0.3% |
| Taxes | 450/3 | €2,293 | €2,300 | +€7 | +0.3% |
| Other amounts payable | 47/48 | €3,242 | €14,953 | +€11,711 | +361.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,951 | €8,808 | -€143 | -1.6% |
| Other operating charges | 640/8 | €884 | €855 | -€29 | -3.3% |
| Gross operating margin | 9900 | €10,828 | €26,628 | +€15,800 | +145.9% |
| Operating profit (loss) | 9901 | €993 | €16,964 | +€15,971 | +1609.0% |
| Financial income | 75/76B | €729 | €229 | -€501 | -68.6% |
| Recurring financial income | 75 | €729 | €229 | -€501 | -68.6% |
| Financial charges | 65/66B | €906 | €806 | -€100 | -11.0% |
| Recurring financial charges | 65 | €906 | €806 | -€100 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €816 | €16,387 | +€15,571 | +1908.7% |
| Income taxes | 67/77 | €164 | €4,479 | +€4,315 | +2629.2% |
| Profit (loss) for the period | 9904 | €652 | €11,908 | +€11,256 | +1727.2% |
| Profit (loss) for the period to be appropriated | 9905 | €652 | €11,908 | +€11,256 | +1727.2% |
Source: filed annual accounts (NBB), fiscal 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.