KARL HUGO DEVELOPMENT: 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.
What changed
KARL HUGO DEVELOPMENT
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €1.0m+€496,974
Equity
€4.3m
2024 · €5.6m-€1.3m
Cash
€60,606
2024 · €30,726+€29,881
Balance sheet total
€6.1m
2024 · €5.9m+€233,514
Largest movements
Assets
- Current investments +€200,000
up €200,000 (+200%), from €100,000 to €300,000
Equity and liabilities
- Other debts +€1.5m
up €1.5m (+558%), from €269,000 to €1.8m
- Profit (loss) carried forward -€999,407
down €999,407 (-25.4%), from €3.9m to €2.9m
- Reserves -€270,000
down €270,000 (-51.9%), from €520,000 to €250,000
of which Distributable reserves: -€270,000
Income statement
- Financial income +€494,817
up €494,817 (+48.9%), from €1.0m to €1.5m
of which Financial income: +€494,547
- Services and other goods -€1,241
down €1,241 (-2.6%), from €48,301 to €47,060
- Taxes -€1,111
down €1,111 (-84.9%), from €1,309 to €198
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.
Result 2024
€1.0m
Services and other goods
+€1,241
Other operating charges
-€31
Financial income
+€494,817
Financial charges
-€165
Taxes
+€1,111
Result 2025
€1.5m
raises the resultlowers the result
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.
From operations
+€3.0m
Investment
-€204,250
Financing
-€2.8m
Cash 2024
€30,726
From operations (derived)
+€3.0m
Net result for the year
+€1.5m
Smaller working-capital items
+€2,538
Other debts
+€1.5m
Investment (derived)
-€204,250
Investment in fixed assets (net)
-€4,250
Current investments
-€200,000
Financing
-€2.8m
Contributions, distributions and other
-€2.8m
Cash 2025
€60,606
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,872,609 | €6,106,123 | +€233,514 | +4.0% |
| Fixed assets | 21/28 | €5,735,049 | €5,739,299 | +€4,250 | +0.1% |
| Financial fixed assets | 28 | €5,735,049 | €5,739,299 | +€4,250 | +0.1% |
| Affiliated companies | 280/1 | €5,735,024 | €5,739,274 | +€4,250 | +0.1% |
| Participating interests | 280 | €5,735,024 | €5,739,274 | +€4,250 | +0.1% |
| Other financial fixed assets | 284/8 | €25 | €25 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €137,560 | €366,824 | +€229,264 | +167% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €6,835 | €6,218 | -€617 | -9.0% |
| Trade receivables | 40 | €4,235 | €4,235 | = | 0.0% |
| Other amounts receivable | 41 | €2,600 | €1,983 | -€617 | -23.7% |
| Current investments | 50/53 | €100,000 | €300,000 | +€200,000 | +200% |
| Other investments | 51/53 | €100,000 | €300,000 | +€200,000 | +200% |
| Cash at bank and in hand | 54/58 | €30,726 | €60,606 | +€29,881 | +97.3% |
| Total equity and liabilities | 10/49 | €5,872,609 | €6,106,123 | +€233,514 | +4.0% |
| Equity | 10/15 | €5,601,640 | €4,332,233 | -€1.3m | -22.7% |
| Contributions | 10/11 | €1,150,000 | €1,150,000 | = | 0.0% |
| Capital | 10 | €1,150,000 | €1,150,000 | = | 0.0% |
| Issued capital | 100 | €1,150,000 | €1,150,000 | = | 0.0% |
| Reserves | 13 | €520,000 | €250,000 | -€270,000 | -51.9% |
| Non-distributable reserves | 130/1 | €250,000 | €250,000 | = | 0.0% |
| Legal reserve | 130 | €250,000 | €250,000 | = | 0.0% |
| Distributable reserves | 133 | €270,000 | €0 | -€270,000 | -100% |
| Profit (loss) carried forward | 14 | €3,931,640 | €2,932,233 | -€999,407 | -25.4% |
| Amounts payable | 17/49 | €270,969 | €1,773,890 | +€1.5m | +555% |
| Amounts payable within one year | 42/48 | €270,969 | €1,773,890 | +€1.5m | +555% |
| Trade debts | 44 | - | €1,929 | +€1,929 | |
| Suppliers | 440/4 | - | €1,929 | +€1,929 | |
| Taxes, remuneration and social security | 45 | €1,969 | €1,961 | -€8 | -0.4% |
| Taxes | 450/3 | €1,969 | €1,961 | -€8 | -0.4% |
| Other amounts payable | 47/48 | €269,000 | €1,770,000 | +€1.5m | +558% |
| Operating income | 70/76A | €42,000 | €42,000 | = | 0.0% |
| Turnover | 70 | €42,000 | €42,000 | = | 0.0% |
| Operating charges | 60/66A | €49,269 | €48,059 | -€1,210 | -2.5% |
| Services and other goods | 61 | €48,301 | €47,060 | -€1,241 | -2.6% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Operating profit (loss) | 9901 | -€7,269 | -€6,059 | +€1,210 | +16.6% |
| Financial income | 75/76B | €1,012,721 | €1,507,538 | +€494,817 | +48.9% |
| Recurring financial income | 75 | €1,012,721 | €1,507,268 | +€494,547 | +48.8% |
| Income from financial fixed assets | 750 | €999,692 | €1,500,000 | +€500,308 | +50.0% |
| Income from current assets | 751 | €13,028 | €7,268 | -€5,760 | -44.2% |
| Non-recurring financial income | 76B | - | €270 | +€270 | |
| Financial charges | 65/66B | €524 | €689 | +€165 | +31.6% |
| Recurring financial charges | 65 | €524 | €689 | +€165 | +31.6% |
| Debt charges | 650 | - | €689 | +€689 | |
| Other financial charges | 652/9 | €524 | - | -€524 | |
| Profit (loss) for the period before taxes | 9903 | €1,004,928 | €1,500,790 | +€495,862 | +49.3% |
| Income taxes | 67/77 | €1,309 | €198 | -€1,111 | -84.9% |
| Taxes | 670/3 | €1,309 | €198 | -€1,111 | -84.9% |
| Profit (loss) for the period | 9904 | €1,003,619 | €1,500,593 | +€496,974 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,003,619 | €1,500,593 | +€496,974 | +49.5% |
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 25 October 2026 via checked.be.