HURRAY DISTRIBUTION: 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.
HURRAY DISTRIBUTION
Largest movements
- Receivables after one year +€446,781
up €446,781 (+252.1%), from €177,251 to €624,033
- Financial fixed assets -€97,298
down €97,298 (-99.9%), from €97,357 to €60
- Deferred charges and accrued income -€63,839
down €63,839 (-47.7%), from €133,818 to €69,980
- Tangible fixed assets -€62,200
down €62,200 (-33.0%), from €188,477 to €126,277
- Cash +€21,616
up €21,616 (+30.3%), from €71,331 to €92,947
mainly Net result for the year (+€272,993) and Investment in fixed assets (net) (+€110,739)
- Reserves +€272,993
up €272,993 (+53.7%), from €508,308 to €781,301
of which Distributable reserves: +€272,993
- Trade debts -€122,886
down €122,886 (-27.8%), from €441,795 to €318,909
- Other debts -€109,357
down €109,357 (-53.6%), from €204,000 to €94,643
- Short-term financial debts +€104,694
up €104,694 (+42.3%), from €247,697 to €352,390
- Current portion of long-term debt +€59,249
up €59,249 (+66.3%), from €89,346 to €148,594
- Financial income +€446,786
up €446,786 (+2870.0%), from €15,568 to €462,353
of which Non-recurring financial income: +€427,672
- Gross operating margin -€347,965
down €347,965 (-44.8%), from €776,239 to €428,274
- Taxes -€60,070
down €60,070, from €48,307 to -€11,763
- Staff costs -€47,573
down €47,573 (-8.9%), from €533,615 to €486,042
- Financial charges -€17,613
down €17,613 (-19.1%), from €91,980 to €74,367
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 | €1,831,559 | €2,048,870 | +€217,312 | +11.9% |
| Fixed assets | 21/28 | €293,986 | €128,578 | -€165,408 | -56.3% |
| Intangible fixed assets | 21 | €8,152 | €2,242 | -€5,910 | -72.5% |
| Tangible fixed assets | 22/27 | €188,477 | €126,277 | -€62,200 | -33.0% |
| Plant, machinery and equipment | 23 | €23,518 | €13,328 | -€10,190 | -43.3% |
| Furniture and vehicles | 24 | €35,581 | €12,130 | -€23,451 | -65.9% |
| Leasing and similar rights | 25 | €33,767 | €14,327 | -€19,440 | -57.6% |
| Other tangible fixed assets | 26 | €95,612 | €86,492 | -€9,119 | -9.5% |
| Financial fixed assets | 28 | €97,357 | €60 | -€97,298 | -99.9% |
| Current assets | 29/58 | €1,537,572 | €1,920,292 | +€382,720 | +24.9% |
| Amounts receivable after more than one year | 29 | €177,251 | €624,033 | +€446,781 | +252.1% |
| Other amounts receivable | 291 | €177,251 | €624,033 | +€446,781 | +252.1% |
| Stocks and contracts in progress | 3 | €525,095 | €515,087 | -€10,007 | -1.9% |
| Stocks | 30/36 | €525,095 | €515,087 | -€10,007 | -1.9% |
| Amounts receivable within one year | 40/41 | €629,980 | €618,245 | -€11,734 | -1.9% |
| Trade receivables | 40 | €500,512 | €500,040 | -€472 | -0.1% |
| Other amounts receivable | 41 | €129,468 | €118,205 | -€11,263 | -8.7% |
| Current investments | 50/53 | €97 | €0 | -€97 | -100.0% |
| Cash at bank and in hand | 54/58 | €71,331 | €92,947 | +€21,616 | +30.3% |
| Deferred charges and accrued income | 490/1 | €133,818 | €69,980 | -€63,839 | -47.7% |
| Total equity and liabilities | 10/49 | €1,831,559 | €2,048,870 | +€217,312 | +11.9% |
| Equity | 10/15 | €526,858 | €799,851 | +€272,993 | +51.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €508,308 | €781,301 | +€272,993 | +53.7% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €506,453 | €779,446 | +€272,993 | +53.9% |
| Amounts payable | 17/49 | €1,304,701 | €1,249,019 | -€55,681 | -4.3% |
| Amounts payable after more than one year | 17 | €240,791 | €256,046 | +€15,255 | +6.3% |
| Financial debts | 170/4 | €240,791 | €256,046 | +€15,255 | +6.3% |
| Amounts payable within one year | 42/48 | €1,051,635 | €986,127 | -€65,508 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €89,346 | €148,594 | +€59,249 | +66.3% |
| Financial debts | 43 | €247,697 | €352,390 | +€104,694 | +42.3% |
| Credit institutions | 430/8 | €247,697 | €352,390 | +€104,694 | +42.3% |
| Trade debts | 44 | €441,795 | €318,909 | -€122,886 | -27.8% |
| Suppliers | 440/4 | €441,795 | €318,909 | -€122,886 | -27.8% |
| Taxes, remuneration and social security | 45 | €68,797 | €71,591 | +€2,793 | +4.1% |
| Taxes | 450/3 | €15,777 | €13,762 | -€2,015 | -12.8% |
| Remuneration and social security | 454/9 | €53,020 | €57,829 | +€4,809 | +9.1% |
| Other amounts payable | 47/48 | €204,000 | €94,643 | -€109,357 | -53.6% |
| Accrued charges and deferred income | 492/3 | €12,274 | €6,846 | -€5,428 | -44.2% |
| Non-recurring operating income | 76A | €4,427 | €160 | -€4,267 | -96.4% |
| Remuneration, social security and pensions | 62 | €533,615 | €486,042 | -€47,573 | -8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,954 | €54,669 | -€15,285 | -21.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,062 | €8,283 | +€222 | +2.8% |
| Other operating charges | 640/8 | €11,952 | €6,035 | -€5,917 | -49.5% |
| Non-recurring operating charges | 66A | €11 | €0 | -€11 | -100.0% |
| Gross operating margin | 9900 | €776,239 | €428,274 | -€347,965 | -44.8% |
| Operating profit (loss) | 9901 | €152,645 | -€126,756 | -€279,401 | |
| Financial income | 75/76B | €15,568 | €462,353 | +€446,786 | +2870.0% |
| Recurring financial income | 75 | €15,568 | €34,682 | +€19,114 | +122.8% |
| Non-recurring financial income | 76B | - | €427,672 | +€427,672 | |
| Financial charges | 65/66B | €91,980 | €74,367 | -€17,613 | -19.1% |
| Recurring financial charges | 65 | €91,980 | €74,367 | -€17,613 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | €76,232 | €261,230 | +€184,998 | +242.7% |
| Income taxes | 67/77 | €48,307 | -€11,763 | -€60,070 | |
| Profit (loss) for the period | 9904 | €27,925 | €272,993 | +€245,068 | +877.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,925 | €272,993 | +€245,068 | +877.6% |
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 8 October 2026 via checked.be.