HYPHENATE: 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.
HYPHENATE
Largest movements
- Receivables within one year -€106,784
down €106,784 (-32.0%), from €333,985 to €227,202
of which Trade receivables: -€103,904
- Tangible fixed assets -€32,174
down €32,174 (-40.8%), from €78,952 to €46,777
- Cash -€14,442
down €14,442 (-5.7%), from €252,259 to €237,816
mainly Contributions, distributions and other (-€161,400) and Trade debts (-€33,263)
- Profit (loss) carried forward -€84,896
down €84,896 (-52.6%), from €161,410 to €76,515
- Trade debts -€33,263
down €33,263 (-24.0%), from €138,799 to €105,536
- Debts after one year -€19,037
down €19,037 (-66.7%), from €28,528 to €9,491
- Current portion of long-term debt -€8,144
down €8,144 (-30.0%), from €27,180 to €19,037
- Tax, wage and social debts -€7,901
down €7,901 (-5.2%), from €152,354 to €144,453
of which Taxes: -€19,689
- Gross operating margin -€99,156
down €99,156 (-19.9%), from €497,244 to €398,088
- Taxes -€19,421
down €19,421 (-33.1%), from €58,618 to €39,197
- Depreciation +€6,097
up €6,097 (+23.4%), from €26,077 to €32,174
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.
Cash bridge derived
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 | €674,430 | €521,193 | -€153,237 | -22.7% |
| Fixed assets | 21/28 | €81,952 | €49,777 | -€32,174 | -39.3% |
| Tangible fixed assets | 22/27 | €78,952 | €46,777 | -€32,174 | -40.8% |
| Furniture and vehicles | 24 | €78,952 | €46,777 | -€32,174 | -40.8% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €592,478 | €471,416 | -€121,063 | -20.4% |
| Amounts receivable within one year | 40/41 | €333,985 | €227,202 | -€106,784 | -32.0% |
| Trade receivables | 40 | €330,254 | €226,351 | -€103,904 | -31.5% |
| Other amounts receivable | 41 | €3,731 | €851 | -€2,880 | -77.2% |
| Cash at bank and in hand | 54/58 | €252,259 | €237,816 | -€14,442 | -5.7% |
| Deferred charges and accrued income | 490/1 | €6,234 | €6,398 | +€164 | +2.6% |
| Total equity and liabilities | 10/49 | €674,430 | €521,193 | -€153,237 | -22.7% |
| Equity | 10/15 | €325,975 | €241,079 | -€84,896 | -26.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €162,565 | €162,565 | = | 0.0% |
| Distributable reserves | 133 | €162,565 | €162,565 | = | 0.0% |
| Profit (loss) carried forward | 14 | €161,410 | €76,515 | -€84,896 | -52.6% |
| Amounts payable | 17/49 | €348,455 | €280,114 | -€68,341 | -19.6% |
| Amounts payable after more than one year | 17 | €28,528 | €9,491 | -€19,037 | -66.7% |
| Financial debts | 170/4 | €28,528 | €9,491 | -€19,037 | -66.7% |
| Amounts payable within one year | 42/48 | €319,927 | €270,623 | -€49,304 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €27,180 | €19,037 | -€8,144 | -30.0% |
| Trade debts | 44 | €138,799 | €105,536 | -€33,263 | -24.0% |
| Suppliers | 440/4 | €138,799 | €105,536 | -€33,263 | -24.0% |
| Taxes, remuneration and social security | 45 | €152,354 | €144,453 | -€7,901 | -5.2% |
| Taxes | 450/3 | €144,596 | €124,907 | -€19,689 | -13.6% |
| Remuneration and social security | 454/9 | €7,758 | €19,546 | +€11,788 | +152.0% |
| Other amounts payable | 47/48 | €1,594 | €1,597 | +€3 | +0.2% |
| Remuneration, social security and pensions | 62 | €246,956 | €246,416 | -€540 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,077 | €32,174 | +€6,097 | +23.4% |
| Other operating charges | 640/8 | €772 | €400 | -€372 | -48.2% |
| Gross operating margin | 9900 | €497,244 | €398,088 | -€99,156 | -19.9% |
| Operating profit (loss) | 9901 | €223,439 | €119,098 | -€104,341 | -46.7% |
| Financial income | 75/76B | €312 | €0 | -€311 | -99.9% |
| Recurring financial income | 75 | €312 | €0 | -€311 | -99.9% |
| Financial charges | 65/66B | €3,725 | €3,397 | -€328 | -8.8% |
| Recurring financial charges | 65 | €3,725 | €3,397 | -€328 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €220,025 | €115,701 | -€104,324 | -47.4% |
| Income taxes | 67/77 | €58,618 | €39,197 | -€19,421 | -33.1% |
| Profit (loss) for the period | 9904 | €161,408 | €76,504 | -€84,903 | -52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €161,408 | €76,504 | -€84,903 | -52.6% |
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 10 October 2026 via checked.be.