LAURENCE HUBERT: 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.
LAURENCE HUBERT
Largest movements
- Tangible fixed assets -€29,467
down €29,467 (-16.5%), from €179,118 to €149,652
of which Land and buildings: -€26,871
- Receivables within one year +€27,006
up €27,006 (+36.1%), from €74,843 to €101,849
of which Trade receivables: +€20,125
- Cash -€17,998
down €17,998 (-39.7%), from €45,349 to €27,351
mainly Contributions, distributions and other (-€160,853) and Debts after one year (-€39,662)
- Receivables after one year +€14,916
up €14,916 (+7.0%), from €212,118 to €227,034
- Reserves -€145,271
down €145,271 (-84.4%), from €172,070 to €26,798
of which Distributable reserves: -€145,271
- Other debts +€138,067
up €138,067 (+599%), from €23,036 to €161,103
- Debts after one year -€39,662
down €39,662 (-14.0%), from €283,176 to €243,514
- Profit (loss) carried forward +€27,760
no longer reported in 2025 (was -€27,760)
- Tax, wage and social debts +€11,255
up €11,255 (+97.9%), from €11,500 to €22,754
- Financial income -€15,424
down €15,424 (-72.3%), from €21,341 to €5,918
of which Non-recurring financial income: -€15,837
- Taxes +€12,153
up €12,153 (+5,102%), from €238 to €12,391
- Financial charges -€1,613
down €1,613 (-9.9%), from €16,219 to €14,606
- Gross operating margin +€1,351
up €1,351 (+1.4%), from €95,981 to €97,333
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 | €520,874 | €514,568 | -€6,306 | -1.2% |
| Fixed assets | 21/28 | €180,660 | €150,559 | -€30,101 | -16.7% |
| Intangible fixed assets | 21 | €1,541 | €907 | -€634 | -41.2% |
| Tangible fixed assets | 22/27 | €179,118 | €149,652 | -€29,467 | -16.5% |
| Land and buildings | 22 | €171,192 | €144,320 | -€26,871 | -15.7% |
| Plant, machinery and equipment | 23 | €148 | - | -€148 | |
| Furniture and vehicles | 24 | €7,778 | €5,332 | -€2,447 | -31.5% |
| Current assets | 29/58 | €340,214 | €364,009 | +€23,795 | +7.0% |
| Amounts receivable after more than one year | 29 | €212,118 | €227,034 | +€14,916 | +7.0% |
| Other amounts receivable | 291 | €212,118 | €227,034 | +€14,916 | +7.0% |
| Amounts receivable within one year | 40/41 | €74,843 | €101,849 | +€27,006 | +36.1% |
| Trade receivables | 40 | €74,843 | €94,968 | +€20,125 | +26.9% |
| Other amounts receivable | 41 | - | €6,881 | +€6,881 | |
| Cash at bank and in hand | 54/58 | €45,349 | €27,351 | -€17,998 | -39.7% |
| Deferred charges and accrued income | 490/1 | €7,904 | €7,776 | -€129 | -1.6% |
| Total equity and liabilities | 10/49 | €520,874 | €514,568 | -€6,306 | -1.2% |
| Equity | 10/15 | €156,709 | €39,198 | -€117,511 | -75.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €172,070 | €26,798 | -€145,271 | -84.4% |
| Tax-exempt reserves | 132 | €341 | €341 | = | 0.0% |
| Distributable reserves | 133 | €171,728 | €26,457 | -€145,271 | -84.6% |
| Profit (loss) carried forward | 14 | -€27,760 | - | +€27,760 | |
| Amounts payable | 17/49 | €364,164 | €475,369 | +€111,205 | +30.5% |
| Amounts payable after more than one year | 17 | €283,176 | €243,514 | -€39,662 | -14.0% |
| Financial debts | 170/4 | €283,176 | €243,514 | -€39,662 | -14.0% |
| Amounts payable within one year | 42/48 | €79,468 | €231,282 | +€151,814 | +191% |
| Current portion of amounts payable after more than one year | 42 | €38,742 | €39,662 | +€920 | +2.4% |
| Financial debts | 43 | - | €310 | +€310 | |
| Credit institutions | 430/8 | - | €310 | +€310 | |
| Trade debts | 44 | €6,190 | €7,453 | +€1,263 | +20.4% |
| Suppliers | 440/4 | €6,190 | €7,453 | +€1,263 | +20.4% |
| Taxes, remuneration and social security | 45 | €11,500 | €22,754 | +€11,255 | +97.9% |
| Taxes | 450/3 | €11,500 | €22,754 | +€11,255 | +97.9% |
| Other amounts payable | 47/48 | €23,036 | €161,103 | +€138,067 | +599% |
| Accrued charges and deferred income | 492/3 | €1,520 | €573 | -€947 | -62.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,083 | €30,678 | +€595 | +2.0% |
| Other operating charges | 640/8 | €2,853 | €2,233 | -€620 | -21.7% |
| Gross operating margin | 9900 | €95,981 | €97,333 | +€1,351 | +1.4% |
| Operating profit (loss) | 9901 | €63,046 | €64,422 | +€1,376 | +2.2% |
| Financial income | 75/76B | €21,341 | €5,918 | -€15,424 | -72.3% |
| Recurring financial income | 75 | €5,504 | €5,918 | +€414 | +7.5% |
| Non-recurring financial income | 76B | €15,837 | - | -€15,837 | |
| Financial charges | 65/66B | €16,219 | €14,606 | -€1,613 | -9.9% |
| Recurring financial charges | 65 | €16,219 | €14,606 | -€1,613 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €68,167 | €55,733 | -€12,434 | -18.2% |
| Income taxes | 67/77 | €238 | €12,391 | +€12,153 | +5,102% |
| Profit (loss) for the period | 9904 | €67,929 | €43,342 | -€24,587 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €67,929 | €43,342 | -€24,587 | -36.2% |
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 22 October 2026 via checked.be.