HYPHEN MANAGEMENT: 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.
HYPHEN MANAGEMENT
Largest movements
- Receivables within one year +€221,088
new in 2025: €221,088
of which Trade receivables: +€187,494
- Current investments +€36,457
up €36,457 (+2,916,578%), from €1 to €36,458
- Tangible fixed assets -€26,544
no longer reported in 2025 (was €26,544)
- Cash +€8,163
up €8,163 (+2,434%), from €335 to €8,498
mainly Trade debts (+€118,196) and Net result for the year (+€105,579)
- Trade debts +€118,196
up €118,196 (+17,027%), from €694 to €118,890
- Reserves +€105,579
up €105,579 (+53.6%), from €197,006 to €302,584
- Tax, wage and social debts +€31,228
up €31,228 (+1,584%), from €1,971 to €33,199
of which Taxes: +€29,871
- Other debts -€21,734
down €21,734 (-60.2%), from €36,132 to €14,398
- Accrued charges and deferred income +€8,012
up €8,012 (+80.0%), from €10,016 to €18,028
- Gross operating margin +€125,782
up €125,782 (+1,515%), from €8,301 to €134,083
- Taxes +€31,547
up €31,547 (+10,692%), from €295 to €31,842
- Depreciation -€14,997
no longer reported in 2025 (was €14,997)
- Other operating charges +€14,647
up €14,647 (+717%), from €2,042 to €16,689
- Financial income -€10,023
down €10,023 (-32.9%), from €30,500 to €20,477
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 | €277,119 | €516,084 | +€238,965 | +86.2% |
| Fixed assets | 21/28 | €276,583 | €250,039 | -€26,544 | -9.6% |
| Tangible fixed assets | 22/27 | €26,544 | - | -€26,544 | |
| Furniture and vehicles | 24 | €26,544 | - | -€26,544 | |
| Financial fixed assets | 28 | €250,039 | €250,039 | = | 0.0% |
| Current assets | 29/58 | €537 | €266,045 | +€265,508 | +49,479% |
| Amounts receivable within one year | 40/41 | - | €221,088 | +€221,088 | |
| Trade receivables | 40 | - | €187,494 | +€187,494 | |
| Other amounts receivable | 41 | - | €33,594 | +€33,594 | |
| Current investments | 50/53 | €1 | €36,458 | +€36,457 | +2,916,578% |
| Cash at bank and in hand | 54/58 | €335 | €8,498 | +€8,163 | +2,434% |
| Deferred charges and accrued income | 490/1 | €200 | - | -€200 | |
| Total equity and liabilities | 10/49 | €277,119 | €516,084 | +€238,965 | +86.2% |
| Equity | 10/15 | €215,606 | €321,184 | +€105,579 | +49.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €197,006 | €302,584 | +€105,579 | +53.6% |
| Distributable reserves | 133 | €197,006 | €302,584 | +€105,579 | +53.6% |
| Amounts payable | 17/49 | €61,514 | €194,900 | +€133,386 | +217% |
| Amounts payable after more than one year | 17 | €12,701 | €10,385 | -€2,316 | -18.2% |
| Financial debts | 170/4 | €12,701 | €10,385 | -€2,316 | -18.2% |
| Amounts payable within one year | 42/48 | €38,797 | €166,487 | +€127,690 | +329% |
| Trade debts | 44 | €694 | €118,890 | +€118,196 | +17,027% |
| Suppliers | 440/4 | €694 | €118,890 | +€118,196 | +17,027% |
| Taxes, remuneration and social security | 45 | €1,971 | €33,199 | +€31,228 | +1,584% |
| Taxes | 450/3 | €1,971 | €31,842 | +€29,871 | +1,515% |
| Remuneration and social security | 454/9 | - | €1,357 | +€1,357 | |
| Other amounts payable | 47/48 | €36,132 | €14,398 | -€21,734 | -60.2% |
| Accrued charges and deferred income | 492/3 | €10,016 | €18,028 | +€8,012 | +80.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,997 | - | -€14,997 | |
| Other operating charges | 640/8 | €2,042 | €16,689 | +€14,647 | +717% |
| Gross operating margin | 9900 | €8,301 | €134,083 | +€125,782 | +1,515% |
| Operating profit (loss) | 9901 | -€8,738 | €117,394 | +€126,132 | |
| Financial income | 75/76B | €30,500 | €20,477 | -€10,023 | -32.9% |
| Recurring financial income | 75 | €30,500 | €20,477 | -€10,023 | -32.9% |
| Financial charges | 65/66B | €648 | €450 | -€198 | -30.5% |
| Recurring financial charges | 65 | €648 | €450 | -€198 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | €21,114 | €137,421 | +€116,307 | +551% |
| Income taxes | 67/77 | €295 | €31,842 | +€31,547 | +10,692% |
| Profit (loss) for the period | 9904 | €20,819 | €105,579 | +€84,760 | +407% |
| Profit (loss) for the period to be appropriated | 9905 | €20,819 | €105,579 | +€84,760 | +407% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.