HYBRID K: 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 K
Largest movements
- Cash -€29,189
down €29,189 (-86.4%), from €33,772 to €4,583
- Stocks and contracts -€11,945
no longer reported in 2025 (was €11,945)
- Tangible fixed assets -€9,199
down €9,199 (-12.0%), from €76,450 to €67,252
- Receivables within one year +€8,491
up €8,491 (+28.5%), from €29,808 to €38,298
of which Trade receivables: +€10,000
- Other debts -€44,670
down €44,670 (-11.6%), from €384,106 to €339,436
- Profit (loss) carried forward +€7,040
up €7,040 (+2.7%), from -€264,507 to -€257,467
- Trade debts -€5,306
down €5,306 (-50.3%), from €10,544 to €5,239
- Gross operating margin -€1,077
down €1,077 (-9.8%), from €10,956 to €9,879
- Depreciation +€997
up €997 (+18.0%), from €5,525 to €6,521
- Taxes -€499
down €499 (-36.3%), from €1,372 to €873
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 | €151,975 | €110,224 | -€41,751 | -27.5% |
| Fixed assets | 21/28 | €76,450 | €67,252 | -€9,199 | -12.0% |
| Tangible fixed assets | 22/27 | €76,450 | €67,252 | -€9,199 | -12.0% |
| Land and buildings | 22 | €37,962 | €33,962 | -€4,000 | -10.5% |
| Plant, machinery and equipment | 23 | €33,698 | €32,383 | -€1,315 | -3.9% |
| Furniture and vehicles | 24 | €4,791 | €907 | -€3,883 | -81.1% |
| Current assets | 29/58 | €75,525 | €42,972 | -€32,553 | -43.1% |
| Stocks and contracts in progress | 3 | €11,945 | - | -€11,945 | |
| Contracts in progress | 37 | €11,945 | - | -€11,945 | |
| Amounts receivable within one year | 40/41 | €29,808 | €38,298 | +€8,491 | +28.5% |
| Trade receivables | 40 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Other amounts receivable | 41 | €4,808 | €3,298 | -€1,509 | -31.4% |
| Cash at bank and in hand | 54/58 | €33,772 | €4,583 | -€29,189 | -86.4% |
| Deferred charges and accrued income | 490/1 | - | €91 | +€91 | |
| Total equity and liabilities | 10/49 | €151,975 | €110,224 | -€41,751 | -27.5% |
| Equity | 10/15 | -€244,047 | -€237,007 | +€7,040 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€264,507 | -€257,467 | +€7,040 | +2.7% |
| Amounts payable | 17/49 | €396,022 | €347,231 | -€48,792 | -12.3% |
| Amounts payable within one year | 42/48 | €396,022 | €347,231 | -€48,792 | -12.3% |
| Trade debts | 44 | €10,544 | €5,239 | -€5,306 | -50.3% |
| Suppliers | 440/4 | €10,544 | €5,239 | -€5,306 | -50.3% |
| Taxes, remuneration and social security | 45 | €1,372 | €2,556 | +€1,184 | +86.3% |
| Taxes | 450/3 | €1,372 | €2,556 | +€1,184 | +86.3% |
| Other amounts payable | 47/48 | €384,106 | €339,436 | -€44,670 | -11.6% |
| Non-recurring operating income | 76A | €295 | - | -€295 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,525 | €6,521 | +€997 | +18.0% |
| Other operating charges | 640/8 | €109 | €171 | +€62 | +57.3% |
| Gross operating margin | 9900 | €10,956 | €9,879 | -€1,077 | -9.8% |
| Operating profit (loss) | 9901 | €5,322 | €3,186 | -€2,136 | -40.1% |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €163 | €142 | -€21 | -12.7% |
| Recurring financial charges | 65 | €163 | €142 | -€21 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €5,165 | €3,044 | -€2,121 | -41.1% |
| Income taxes | 67/77 | €1,372 | €873 | -€499 | -36.3% |
| Profit (loss) for the period | 9904 | €3,793 | €2,171 | -€1,622 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €3,793 | €2,171 | -€1,622 | -42.8% |
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 27 October 2026 via checked.be.