HYBRID.BE: 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.
HYBRID.BE
Largest movements
- Tangible fixed assets -€27,182
down €27,182 (-4.0%), from €675,094 to €647,913
of which Land and buildings: -€32,012
- Receivables within one year -€19,232
no longer reported in 2025 (was €19,232)
- Debts after one year -€75,996
down €75,996 (-17.1%), from €443,340 to €367,344
- Trade debts +€36,061
up €36,061 (+303%), from €11,897 to €47,958
- Reserves +€28,759
up €28,759 (+264%), from €10,900 to €39,659
- Tax, wage and social debts -€17,522
down €17,522 (-73.4%), from €23,877 to €6,354
of which Remuneration and social security: -€15,000
- Profit (loss) carried forward -€16,555
no longer reported in 2025 (was €16,555)
- Gross operating margin -€25,188
down €25,188 (-35.2%), from €71,636 to €46,448
- Depreciation +€4,000
up €4,000 (+25.0%), from €16,006 to €20,006
- Taxes +€1,394
up €1,394 (+52.4%), from €2,657 to €4,051
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €718,457 | €674,283 | -€44,174 | -6.1% |
| Fixed assets | 21/28 | €675,094 | €647,913 | -€27,182 | -4.0% |
| Tangible fixed assets | 22/27 | €675,094 | €647,913 | -€27,182 | -4.0% |
| Land and buildings | 22 | €675,094 | €643,082 | -€32,012 | -4.7% |
| Furniture and vehicles | 24 | - | €4,831 | +€4,831 | |
| Current assets | 29/58 | €43,363 | €26,370 | -€16,993 | -39.2% |
| Amounts receivable within one year | 40/41 | €19,232 | - | -€19,232 | |
| Trade receivables | 40 | €19,232 | - | -€19,232 | |
| Cash at bank and in hand | 54/58 | €23,721 | €25,792 | +€2,070 | +8.7% |
| Deferred charges and accrued income | 490/1 | €409 | €579 | +€169 | +41.4% |
| Total equity and liabilities | 10/49 | €718,457 | €674,283 | -€44,174 | -6.1% |
| Equity | 10/15 | €47,455 | €59,659 | +€12,203 | +25.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €10,900 | €39,659 | +€28,759 | +264% |
| Distributable reserves | 133 | €10,900 | €39,659 | +€28,759 | +264% |
| Profit (loss) carried forward | 14 | €16,555 | - | -€16,555 | |
| Amounts payable | 17/49 | €671,002 | €614,624 | -€56,378 | -8.4% |
| Amounts payable after more than one year | 17 | €443,340 | €367,344 | -€75,996 | -17.1% |
| Financial debts | 170/4 | €443,340 | €367,344 | -€75,996 | -17.1% |
| Amounts payable within one year | 42/48 | €227,662 | €247,280 | +€19,618 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €37,998 | €37,998 | = | 0.0% |
| Trade debts | 44 | €11,897 | €47,958 | +€36,061 | +303% |
| Suppliers | 440/4 | €11,897 | €47,958 | +€36,061 | +303% |
| Taxes, remuneration and social security | 45 | €23,877 | €6,354 | -€17,522 | -73.4% |
| Taxes | 450/3 | €8,877 | €6,354 | -€2,522 | -28.4% |
| Remuneration and social security | 454/9 | €15,000 | - | -€15,000 | |
| Other amounts payable | 47/48 | €153,890 | €154,970 | +€1,080 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,006 | €20,006 | +€4,000 | +25.0% |
| Other operating charges | 640/8 | €3,666 | €3,303 | -€363 | -9.9% |
| Gross operating margin | 9900 | €71,636 | €46,448 | -€25,188 | -35.2% |
| Operating profit (loss) | 9901 | €51,964 | €23,138 | -€28,826 | -55.5% |
| Financial charges | 65/66B | €5,465 | €4,794 | -€670 | -12.3% |
| Recurring financial charges | 65 | €5,465 | €4,794 | -€670 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €46,499 | €18,344 | -€28,155 | -60.6% |
| Income taxes | 67/77 | €2,657 | €4,051 | +€1,394 | +52.4% |
| Profit (loss) for the period | 9904 | €43,842 | €14,293 | -€29,549 | -67.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,842 | €14,293 | -€29,549 | -67.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.