HUVECO: 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.
HUVECO
Largest movements
- Tangible fixed assets +€405,250
up €405,250 (+11.1%), from €3.7m to €4.1m
- Cash +€48,480
up €48,480 (+96.3%), from €50,336 to €98,816
mainly Debts after one year (+€273,142) and Depreciation (+€159,009)
- Debts after one year +€273,142
up €273,142 (+32.1%), from €850,716 to €1.1m
of which Financial debts: +€273,142
- Reserves +€95,288
up €95,288 (+17.6%), from €540,610 to €635,897
- Other debts +€68,156
up €68,156 (+17.7%), from €384,138 to €452,294
- Current portion of long-term debt +€45,478
up €45,478 (+41.8%), from €108,880 to €154,358
- Turnover -€451,053
no longer reported in 2025 (was €451,053)
- Gross operating margin +€382,320
new in 2025: €382,320
- Services and other goods -€78,738
no longer reported in 2025 (was €78,738)
- Depreciation +€33,869
up €33,869 (+27.1%), from €125,140 to €159,009
- Taxes -€8,717
down €8,717 (-21.5%), from €40,632 to €31,915
of which Taxes: -€40,632
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 | €3,737,158 | €4,232,156 | +€494,998 | +13.2% |
| Fixed assets | 21/28 | €3,650,884 | €4,056,134 | +€405,250 | +11.1% |
| Tangible fixed assets | 22/27 | €3,650,884 | €4,056,134 | +€405,250 | +11.1% |
| Land and buildings | 22 | €3,650,884 | €4,056,134 | +€405,250 | +11.1% |
| Current assets | 29/58 | €86,274 | €176,022 | +€89,748 | +104% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €35,938 | €77,206 | +€41,268 | +115% |
| Trade receivables | 40 | €35,938 | €44,206 | +€8,268 | +23.0% |
| Other amounts receivable | 41 | €0 | €33,000 | +€33,000 | |
| Cash at bank and in hand | 54/58 | €50,336 | €98,816 | +€48,480 | +96.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,737,158 | €4,232,156 | +€494,998 | +13.2% |
| Equity | 10/15 | €2,359,210 | €2,454,497 | +€95,288 | +4.0% |
| Contributions | 10/11 | €1,818,600 | €1,818,600 | = | 0.0% |
| Reserves | 13 | €540,610 | €635,897 | +€95,288 | +17.6% |
| Distributable reserves | 133 | €540,610 | €635,897 | +€95,288 | +17.6% |
| Amounts payable | 17/49 | €1,377,948 | €1,777,658 | +€399,710 | +29.0% |
| Amounts payable after more than one year | 17 | €850,716 | €1,123,858 | +€273,142 | +32.1% |
| Financial debts | 170/4 | €847,847 | €1,120,989 | +€273,142 | +32.2% |
| Credit institutions | 173 | €847,847 | - | -€847,847 | |
| Other amounts payable | 178/9 | €2,870 | €2,870 | = | 0.0% |
| Amounts payable within one year | 42/48 | €504,566 | €613,547 | +€108,981 | +21.6% |
| Current portion of amounts payable after more than one year | 42 | €108,880 | €154,358 | +€45,478 | +41.8% |
| Trade debts | 44 | €5,566 | €6,335 | +€770 | +13.8% |
| Suppliers | 440/4 | €5,566 | €6,335 | +€770 | +13.8% |
| Taxes, remuneration and social security | 45 | €5,983 | €560 | -€5,423 | -90.6% |
| Taxes | 450/3 | €5,983 | €560 | -€5,423 | -90.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €384,138 | €452,294 | +€68,156 | +17.7% |
| Accrued charges and deferred income | 492/3 | €22,665 | €40,253 | +€17,588 | +77.6% |
| Operating income | 70/76A | €456,041 | - | -€456,041 | |
| Turnover | 70 | €451,053 | - | -€451,053 | |
| Other operating income | 74 | €4,988 | - | -€4,988 | |
| Operating charges | 60/66A | €235,393 | - | -€235,393 | |
| Services and other goods | 61 | €78,738 | - | -€78,738 | |
| Remuneration, social security and pensions | 62 | €3,581 | €0 | -€3,581 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,140 | €159,009 | +€33,869 | +27.1% |
| Other operating charges | 640/8 | €27,934 | €29,538 | +€1,603 | +5.7% |
| Gross operating margin | 9900 | - | €382,320 | +€382,320 | |
| Operating profit (loss) | 9901 | €220,649 | €193,773 | -€26,875 | -12.2% |
| Financial income | 75/76B | €279 | €0 | -€279 | -100% |
| Recurring financial income | 75 | €279 | €0 | -€279 | -100% |
| Income from current assets | 751 | €28 | - | -€28 | |
| Other financial income | 752/9 | €251 | - | -€251 | |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €59,801 | €66,571 | +€6,770 | +11.3% |
| Recurring financial charges | 65 | €59,801 | €66,571 | +€6,770 | +11.3% |
| Debt charges | 650 | €59,541 | - | -€59,541 | |
| Other financial charges | 652/9 | €260 | - | -€260 | |
| Profit (loss) for the period before taxes | 9903 | €161,127 | €127,203 | -€33,924 | -21.1% |
| Income taxes | 67/77 | €40,632 | €31,915 | -€8,717 | -21.5% |
| Taxes | 670/3 | €40,632 | - | -€40,632 | |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €120,495 | €95,288 | -€25,208 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €120,495 | €95,288 | -€25,208 | -20.9% |
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 23 October 2026 via checked.be.