HURDEBISE PHILIPPE: 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.
HURDEBISE PHILIPPE
Largest movements
- Stocks and contracts -€22,543
down €22,543 (-27.1%), from €83,234 to €60,691
- Tangible fixed assets -€9,972
down €9,972 (-23.1%), from €43,200 to €33,227
of which Furniture and vehicles: -€8,751
- Cash -€9,417
down €9,417 (-45.4%), from €20,720 to €11,303
mainly Net result for the year (-€22,194) and Debts after one year (-€9,413)
- Receivables within one year +€8,371
up €8,371 (+14.4%), from €58,033 to €66,404
of which Trade receivables: +€9,986
- Profit (loss) carried forward -€22,194
down €22,194 (-15.9%), from €139,594 to €117,400
- Debts after one year -€9,413
down €9,413 (-52.8%), from €17,837 to €8,425
- Gross operating margin -€31,704
down €31,704, from €23,355 to -€8,348
- Depreciation -€2,958
down €2,958 (-20.7%), from €14,295 to €11,338
- Other operating charges -€2,241
down €2,241 (-46.6%), from €4,814 to €2,573
- Staff costs -€2,024
no longer reported in 2025 (was €2,024)
- Financial income -€773
down €773 (-36.9%), from €2,096 to €1,323
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 | €205,339 | €173,369 | -€31,971 | -15.6% |
| Fixed assets | 21/28 | €43,200 | €33,227 | -€9,972 | -23.1% |
| Tangible fixed assets | 22/27 | €43,200 | €33,227 | -€9,972 | -23.1% |
| Land and buildings | 22 | €448 | €336 | -€112 | -25.0% |
| Plant, machinery and equipment | 23 | €3,069 | €1,960 | -€1,110 | -36.2% |
| Furniture and vehicles | 24 | €39,682 | €30,932 | -€8,751 | -22.1% |
| Current assets | 29/58 | €162,140 | €140,141 | -€21,998 | -13.6% |
| Stocks and contracts in progress | 3 | €83,234 | €60,691 | -€22,543 | -27.1% |
| Stocks | 30/36 | €83,234 | €60,691 | -€22,543 | -27.1% |
| Amounts receivable within one year | 40/41 | €58,033 | €66,404 | +€8,371 | +14.4% |
| Trade receivables | 40 | €1,007 | €10,993 | +€9,986 | +991% |
| Other amounts receivable | 41 | €57,026 | €55,410 | -€1,616 | -2.8% |
| Cash at bank and in hand | 54/58 | €20,720 | €11,303 | -€9,417 | -45.4% |
| Deferred charges and accrued income | 490/1 | €152 | €1,743 | +€1,591 | +1,047% |
| Total equity and liabilities | 10/49 | €205,339 | €173,369 | -€31,971 | -15.6% |
| Equity | 10/15 | €166,592 | €144,398 | -€22,194 | -13.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €8,398 | €8,398 | = | 0.0% |
| Distributable reserves | 133 | €8,398 | €8,398 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,594 | €117,400 | -€22,194 | -15.9% |
| Amounts payable | 17/49 | €38,747 | €28,971 | -€9,777 | -25.2% |
| Amounts payable after more than one year | 17 | €17,837 | €8,425 | -€9,413 | -52.8% |
| Financial debts | 170/4 | €17,837 | €8,425 | -€9,413 | -52.8% |
| Amounts payable within one year | 42/48 | €20,910 | €20,546 | -€364 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €8,966 | €9,413 | +€447 | +5.0% |
| Trade debts | 44 | €4,777 | €3,717 | -€1,060 | -22.2% |
| Suppliers | 440/4 | €4,777 | €3,717 | -€1,060 | -22.2% |
| Advances received on contracts in progress | 46 | - | €1,800 | +€1,800 | |
| Taxes, remuneration and social security | 45 | €2,593 | €1,068 | -€1,525 | -58.8% |
| Taxes | 450/3 | €875 | - | -€875 | |
| Remuneration and social security | 454/9 | €1,718 | €1,068 | -€650 | -37.8% |
| Other amounts payable | 47/48 | €4,574 | €4,549 | -€25 | -0.5% |
| Remuneration, social security and pensions | 62 | €2,024 | - | -€2,024 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,295 | €11,338 | -€2,958 | -20.7% |
| Other operating charges | 640/8 | €4,814 | €2,573 | -€2,241 | -46.6% |
| Gross operating margin | 9900 | €23,355 | -€8,348 | -€31,704 | |
| Operating profit (loss) | 9901 | €2,221 | -€22,259 | -€24,480 | |
| Financial income | 75/76B | €2,096 | €1,323 | -€773 | -36.9% |
| Recurring financial income | 75 | €2,096 | €1,323 | -€773 | -36.9% |
| Financial charges | 65/66B | €1,593 | €1,251 | -€342 | -21.5% |
| Recurring financial charges | 65 | €1,593 | €1,251 | -€342 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €2,724 | -€22,187 | -€24,911 | |
| Income taxes | 67/77 | €314 | €7 | -€307 | -97.8% |
| Profit (loss) for the period | 9904 | €2,411 | -€22,194 | -€24,605 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,411 | -€22,194 | -€24,605 |
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 19 October 2026 via checked.be.