Hybrid Coach: 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 Coach
Largest movements
- Cash +€27,540
up €27,540 (+231%), from €11,926 to €39,466
mainly Net result for the year (+€28,993) and Depreciation (+€9,884)
- Tangible fixed assets +€16,837
up €16,837 (+49.2%), from €34,212 to €51,049
of which Plant, machinery and equipment: +€21,155
- Stocks and contracts -€7,700
no longer reported in 2025 (was €7,700)
- Receivables within one year -€2,368
down €2,368 (-26.1%), from €9,063 to €6,695
of which Other amounts receivable: -€2,328
- Financial fixed assets +€1,105
new in 2025: €1,105
- Reserves +€28,993
up €28,993 (+1,233%), from €2,351 to €31,345
- Accrued charges and deferred income +€4,440
new in 2025: €4,440
- Tax, wage and social debts +€3,580
up €3,580 (+56.3%), from €6,363 to €9,943
of which Taxes: +€6,180
- Other debts -€2,820
down €2,820 (-7.0%), from €40,330 to €37,510
- Trade debts +€2,591
up €2,591 (+86.9%), from €2,981 to €5,572
- Gross operating margin +€38,328
up €38,328 (+440%), from €8,702 to €47,029
- Taxes +€7,043
up €7,043 (+2,002%), from €352 to €7,395
- Depreciation +€4,636
up €4,636 (+88.3%), from €5,248 to €9,884
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 | €62,901 | €98,315 | +€35,414 | +56.3% |
| Fixed assets | 21/28 | €34,212 | €52,154 | +€17,942 | +52.4% |
| Tangible fixed assets | 22/27 | €34,212 | €51,049 | +€16,837 | +49.2% |
| Plant, machinery and equipment | 23 | €7,480 | €28,635 | +€21,155 | +283% |
| Furniture and vehicles | 24 | €26,732 | €21,063 | -€5,668 | -21.2% |
| Other tangible fixed assets | 26 | - | €1,350 | +€1,350 | |
| Financial fixed assets | 28 | - | €1,105 | +€1,105 | |
| Current assets | 29/58 | €28,689 | €46,161 | +€17,472 | +60.9% |
| Stocks and contracts in progress | 3 | €7,700 | - | -€7,700 | |
| Stocks | 30/36 | €7,700 | - | -€7,700 | |
| Amounts receivable within one year | 40/41 | €9,063 | €6,695 | -€2,368 | -26.1% |
| Trade receivables | 40 | €5,415 | €5,375 | -€40 | -0.7% |
| Other amounts receivable | 41 | €3,648 | €1,320 | -€2,328 | -63.8% |
| Cash at bank and in hand | 54/58 | €11,926 | €39,466 | +€27,540 | +231% |
| Total equity and liabilities | 10/49 | €62,901 | €98,315 | +€35,414 | +56.3% |
| Equity | 10/15 | €5,351 | €34,345 | +€28,993 | +542% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €2,351 | €31,345 | +€28,993 | +1,233% |
| Distributable reserves | 133 | €2,351 | €31,345 | +€28,993 | +1,233% |
| Amounts payable | 17/49 | €57,549 | €63,970 | +€6,421 | +11.2% |
| Amounts payable after more than one year | 17 | €6,363 | €4,806 | -€1,557 | -24.5% |
| Financial debts | 170/4 | €6,363 | €4,806 | -€1,557 | -24.5% |
| Amounts payable within one year | 42/48 | €51,187 | €54,725 | +€3,538 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €1,513 | €1,701 | +€187 | +12.4% |
| Trade debts | 44 | €2,981 | €5,572 | +€2,591 | +86.9% |
| Suppliers | 440/4 | €2,981 | €5,572 | +€2,591 | +86.9% |
| Taxes, remuneration and social security | 45 | €6,363 | €9,943 | +€3,580 | +56.3% |
| Taxes | 450/3 | €3,763 | €9,943 | +€6,180 | +164% |
| Remuneration and social security | 454/9 | €2,600 | - | -€2,600 | |
| Other amounts payable | 47/48 | €40,330 | €37,510 | -€2,820 | -7.0% |
| Accrued charges and deferred income | 492/3 | - | €4,440 | +€4,440 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,248 | €9,884 | +€4,636 | +88.3% |
| Other operating charges | 640/8 | €568 | €585 | +€18 | +3.1% |
| Gross operating margin | 9900 | €8,702 | €47,029 | +€38,328 | +440% |
| Operating profit (loss) | 9901 | €2,886 | €36,560 | +€33,674 | +1,167% |
| Financial income | 75/76B | €15 | €445 | +€430 | +2,858% |
| Recurring financial income | 75 | €15 | €445 | +€430 | +2,858% |
| Financial charges | 65/66B | €199 | €617 | +€419 | +211% |
| Recurring financial charges | 65 | €199 | €617 | +€419 | +211% |
| Profit (loss) for the period before taxes | 9903 | €2,703 | €36,388 | +€33,685 | +1,246% |
| Income taxes | 67/77 | €352 | €7,395 | +€7,043 | +2,002% |
| Profit (loss) for the period | 9904 | €2,351 | €28,993 | +€26,642 | +1,133% |
| Profit (loss) for the period to be appropriated | 9905 | €2,351 | €28,993 | +€26,642 | +1,133% |
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.