HUYGEN MANAGEMENT SOLUTIONS: 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.
HUYGEN MANAGEMENT SOLUTIONS
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+108%), from €1.0m to €2.1m
of which Land and buildings: +€1.1m
- Receivables within one year -€283,287
down €283,287 (-86.7%), from €326,638 to €43,351
of which Other amounts receivable: -€308,999
- Cash +€172,010
up €172,010 (+360%), from €47,799 to €219,809
mainly Debts after one year (+€570,531) and Other debts (+€329,820)
- Debts after one year +€570,531
up €570,531 (+154%), from €369,442 to €939,973
- Other debts +€329,820
up €329,820 (+865%), from €38,109 to €367,929
- Short-term financial debts -€156,661
down €156,661 (-81.0%), from €193,500 to €36,840
- Reserves +€146,805
up €146,805 (+23.1%), from €636,750 to €783,555
of which Distributable reserves: +€152,663
- Trade debts +€40,384
up €40,384 (+554%), from €7,287 to €47,671
- Gross operating margin +€49,097
up €49,097 (+17.6%), from €279,529 to €328,626
- Taxes +€41,253
up €41,253 (+170%), from €24,213 to €65,466
- Other operating charges +€30,767
up €30,767 (+676%), from €4,552 to €35,319
- Financial charges +€18,308
up €18,308 (+72.3%), from €25,336 to €43,643
- Financial income +€4,317
up €4,317 (+182%), from €2,371 to €6,688
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 | €1,397,982 | €2,386,183 | +€988,201 | +70.7% |
| Fixed assets | 21/28 | €1,020,087 | €2,123,023 | +€1.1m | +108% |
| Tangible fixed assets | 22/27 | €1,018,852 | €2,121,788 | +€1.1m | +108% |
| Land and buildings | 22 | €930,625 | €2,052,811 | +€1.1m | +121% |
| Furniture and vehicles | 24 | €80,318 | €61,066 | -€19,251 | -24.0% |
| Other tangible fixed assets | 26 | €7,910 | €7,910 | = | 0.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €1,235 | €1,235 | = | 0.0% |
| Current assets | 29/58 | €377,895 | €263,160 | -€114,735 | -30.4% |
| Amounts receivable within one year | 40/41 | €326,638 | €43,351 | -€283,287 | -86.7% |
| Trade receivables | 40 | €11,035 | €36,747 | +€25,712 | +233% |
| Other amounts receivable | 41 | €315,604 | €6,605 | -€308,999 | -97.9% |
| Cash at bank and in hand | 54/58 | €47,799 | €219,809 | +€172,010 | +360% |
| Deferred charges and accrued income | 490/1 | €3,457 | €0 | -€3,457 | -100% |
| Total equity and liabilities | 10/49 | €1,397,982 | €2,386,183 | +€988,201 | +70.7% |
| Equity | 10/15 | €655,350 | €802,155 | +€146,805 | +22.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €636,750 | €783,555 | +€146,805 | +23.1% |
| Tax-exempt reserves | 132 | €256,866 | €251,008 | -€5,858 | -2.3% |
| Distributable reserves | 133 | €379,884 | €532,547 | +€152,663 | +40.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €85,622 | €83,669 | -€1,953 | -2.3% |
| Deferred taxes | 168 | €85,622 | €83,669 | -€1,953 | -2.3% |
| Amounts payable | 17/49 | €657,010 | €1,500,358 | +€843,348 | +128% |
| Amounts payable after more than one year | 17 | €369,442 | €939,973 | +€570,531 | +154% |
| Financial debts | 170/4 | €369,442 | €939,973 | +€570,531 | +154% |
| Amounts payable within one year | 42/48 | €286,432 | €546,082 | +€259,650 | +90.6% |
| Current portion of amounts payable after more than one year | 42 | €37,087 | €65,276 | +€28,189 | +76.0% |
| Financial debts | 43 | €193,500 | €36,840 | -€156,661 | -81.0% |
| Credit institutions | 430/8 | €193,500 | €36,840 | -€156,661 | -81.0% |
| Trade debts | 44 | €7,287 | €47,671 | +€40,384 | +554% |
| Suppliers | 440/4 | €7,287 | €47,671 | +€40,384 | +554% |
| Taxes, remuneration and social security | 45 | €10,449 | €28,367 | +€17,917 | +171% |
| Taxes | 450/3 | €10,449 | €26,460 | +€16,011 | +153% |
| Remuneration and social security | 454/9 | €0 | €1,907 | +€1,907 | |
| Other amounts payable | 47/48 | €38,109 | €367,929 | +€329,820 | +865% |
| Accrued charges and deferred income | 492/3 | €1,135 | €14,303 | +€13,168 | +1,160% |
| Non-recurring operating income | 76A | €137,194 | €1,369 | -€135,825 | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,581 | €46,034 | +€454 | +1.0% |
| Other operating charges | 640/8 | €4,552 | €35,319 | +€30,767 | +676% |
| Non-recurring operating charges | 66A | €5,000 | €0 | -€5,000 | -100% |
| Gross operating margin | 9900 | €279,529 | €328,626 | +€49,097 | +17.6% |
| Operating profit (loss) | 9901 | €224,397 | €247,273 | +€22,876 | +10.2% |
| Financial income | 75/76B | €2,371 | €6,688 | +€4,317 | +182% |
| Recurring financial income | 75 | €2,371 | €6,688 | +€4,317 | +182% |
| Financial charges | 65/66B | €25,336 | €43,643 | +€18,308 | +72.3% |
| Recurring financial charges | 65 | €25,336 | €43,643 | +€18,308 | +72.3% |
| Profit (loss) for the period before taxes | 9903 | €201,432 | €210,318 | +€8,886 | +4.4% |
| Transfer from deferred taxes | 780 | €2,095 | €1,953 | -€143 | -6.8% |
| Transfer to deferred taxes | 680 | €32,324 | €0 | -€32,324 | -100% |
| Income taxes | 67/77 | €24,213 | €65,466 | +€41,253 | +170% |
| Profit (loss) for the period | 9904 | €146,992 | €146,805 | -€187 | -0.1% |
| Transfer from tax-exempt reserves | 789 | €6,286 | €5,858 | -€428 | -6.8% |
| Transfer to tax-exempt reserves | 689 | €96,971 | €0 | -€96,971 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €56,308 | €152,663 | +€96,356 | +171% |
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 30 October 2026 via checked.be.