l’Hibou: 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.
l’Hibou
Largest movements
- Current investments +€395,059
up €395,059 (+337%), from €117,139 to €512,198
- Cash -€103,210
down €103,210 (-28.8%), from €358,316 to €255,106
mainly Current investments (-€395,059) and Contributions, distributions and other (-€45,000)
- Receivables within one year -€27,450
down €27,450 (-39.8%), from €69,007 to €41,557
of which Trade receivables: -€31,859
- Tangible fixed assets +€12,535
up €12,535 (+24.8%), from €50,487 to €63,022
of which Plant, machinery and equipment: +€13,988
- Profit (loss) carried forward +€162,936
up €162,936 (+42.7%), from €381,663 to €544,599
- Other debts +€100,064
up €100,064 (+222%), from €45,000 to €145,064
- Tax, wage and social debts +€18,836
up €18,836 (+17.8%), from €106,075 to €124,911
- Gross operating margin +€25,115
up €25,115 (+9.8%), from €256,016 to €281,131
- Taxes +€6,847
up €6,847 (+13.6%), from €50,481 to €57,328
- Financial income -€6,160
down €6,160 (-100.0%), from €6,162 to €2
- Other operating charges +€3,884
up €3,884 (+213%), from €1,827 to €5,711
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 | €594,949 | €871,883 | +€276,934 | +46.5% |
| Fixed assets | 21/28 | €50,487 | €63,022 | +€12,535 | +24.8% |
| Tangible fixed assets | 22/27 | €50,487 | €63,022 | +€12,535 | +24.8% |
| Plant, machinery and equipment | 23 | €9,117 | €23,104 | +€13,988 | +153% |
| Furniture and vehicles | 24 | €2,044 | €4,258 | +€2,214 | +108% |
| Other tangible fixed assets | 26 | €39,326 | €35,660 | -€3,666 | -9.3% |
| Current assets | 29/58 | €544,461 | €808,861 | +€264,399 | +48.6% |
| Amounts receivable within one year | 40/41 | €69,007 | €41,557 | -€27,450 | -39.8% |
| Trade receivables | 40 | €41,929 | €10,070 | -€31,859 | -76.0% |
| Other amounts receivable | 41 | €27,078 | €31,487 | +€4,409 | +16.3% |
| Current investments | 50/53 | €117,139 | €512,198 | +€395,059 | +337% |
| Cash at bank and in hand | 54/58 | €358,316 | €255,106 | -€103,210 | -28.8% |
| Total equity and liabilities | 10/49 | €594,949 | €871,883 | +€276,934 | +46.5% |
| Equity | 10/15 | €382,663 | €545,599 | +€162,936 | +42.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €381,663 | €544,599 | +€162,936 | +42.7% |
| Amounts payable | 17/49 | €212,286 | €326,284 | +€113,998 | +53.7% |
| Amounts payable after more than one year | 17 | €52,354 | €44,869 | -€7,485 | -14.3% |
| Financial debts | 170/4 | €52,354 | €44,869 | -€7,485 | -14.3% |
| Amounts payable within one year | 42/48 | €159,932 | €281,415 | +€121,483 | +76.0% |
| Trade debts | 44 | €8,857 | €11,440 | +€2,583 | +29.2% |
| Suppliers | 440/4 | €8,857 | €11,440 | +€2,583 | +29.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €106,075 | €124,911 | +€18,836 | +17.8% |
| Taxes | 450/3 | €106,075 | €124,911 | +€18,836 | +17.8% |
| Other amounts payable | 47/48 | €45,000 | €145,064 | +€100,064 | +222% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,490 | €7,271 | +€2,781 | +61.9% |
| Other operating charges | 640/8 | €1,827 | €5,711 | +€3,884 | +213% |
| Gross operating margin | 9900 | €256,016 | €281,131 | +€25,115 | +9.8% |
| Operating profit (loss) | 9901 | €249,699 | €268,149 | +€18,450 | +7.4% |
| Financial income | 75/76B | €6,162 | €2 | -€6,160 | -100.0% |
| Recurring financial income | 75 | €6,162 | €2 | -€6,160 | -100.0% |
| Financial charges | 65/66B | €2,477 | €2,887 | +€410 | +16.5% |
| Recurring financial charges | 65 | €2,477 | €2,887 | +€410 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €253,383 | €265,264 | +€11,881 | +4.7% |
| Income taxes | 67/77 | €50,481 | €57,328 | +€6,847 | +13.6% |
| Profit (loss) for the period | 9904 | €202,903 | €207,936 | +€5,033 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €202,903 | €207,936 | +€5,033 | +2.5% |
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.