Le 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.
Le Hibou
Largest movements
- Cash -€336,175
down €336,175 (-91.4%), from €367,733 to €31,558
mainly Other debts (-€314,025) and Short-term financial debts (-€186,500)
- Stocks and contracts -€242,793
down €242,793 (-28.2%), from €862,085 to €619,291
- Other debts -€314,025
down €314,025 (-58.9%), from €533,538 to €219,513
- Short-term financial debts -€186,500
down €186,500 (-32.7%), from €570,500 to €384,000
- Profit (loss) carried forward -€77,492
down €77,492 (-112%), from -€69,189 to -€146,681
- Gross operating margin -€54,414
down €54,414, from €17,177 to -€37,236
- Financial charges -€12,019
down €12,019 (-23.0%), from €52,223 to €40,205
of which Non-recurring financial charges: -€15,068
- Other operating charges -€1,154
no longer reported in 2025 (was €1,154)
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 | €1,233,429 | €658,202 | -€575,227 | -46.6% |
| Fixed assets | 21/28 | - | €1,199 | +€1,199 | |
| Tangible fixed assets | 22/27 | - | €1,199 | +€1,199 | |
| Plant, machinery and equipment | 23 | - | €1,199 | +€1,199 | |
| Current assets | 29/58 | €1,233,429 | €657,003 | -€576,426 | -46.7% |
| Stocks and contracts in progress | 3 | €862,085 | €619,291 | -€242,793 | -28.2% |
| Stocks | 30/36 | €862,085 | €619,291 | -€242,793 | -28.2% |
| Amounts receivable within one year | 40/41 | €3,611 | €5,634 | +€2,023 | +56.0% |
| Trade receivables | 40 | €3,611 | €5,634 | +€2,023 | +56.0% |
| Cash at bank and in hand | 54/58 | €367,733 | €31,558 | -€336,175 | -91.4% |
| Deferred charges and accrued income | 490/1 | - | €520 | +€520 | |
| Total equity and liabilities | 10/49 | €1,233,429 | €658,202 | -€575,227 | -46.6% |
| Equity | 10/15 | -€68,189 | -€145,681 | -€77,492 | -114% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,189 | -€146,681 | -€77,492 | -112% |
| Amounts payable | 17/49 | €1,301,618 | €803,883 | -€497,735 | -38.2% |
| Amounts payable after more than one year | 17 | €175,000 | €175,000 | = | 0.0% |
| Financial debts | 170/4 | €175,000 | €175,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,118,382 | €619,945 | -€498,437 | -44.6% |
| Financial debts | 43 | €570,500 | €384,000 | -€186,500 | -32.7% |
| Credit institutions | 430/8 | €570,500 | €384,000 | -€186,500 | -32.7% |
| Trade debts | 44 | €13,265 | €5,872 | -€7,393 | -55.7% |
| Suppliers | 440/4 | €13,265 | €5,872 | -€7,393 | -55.7% |
| Taxes, remuneration and social security | 45 | €1,079 | €10,560 | +€9,481 | +879% |
| Taxes | 450/3 | €1,079 | €10,560 | +€9,481 | +879% |
| Other amounts payable | 47/48 | €533,538 | €219,513 | -€314,025 | -58.9% |
| Accrued charges and deferred income | 492/3 | €8,236 | €8,938 | +€702 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €51 | +€51 | |
| Other operating charges | 640/8 | €1,154 | - | -€1,154 | |
| Gross operating margin | 9900 | €17,177 | -€37,236 | -€54,414 | |
| Operating profit (loss) | 9901 | €16,023 | -€37,287 | -€53,311 | |
| Financial income | 75/76B | €237 | - | -€237 | |
| Recurring financial income | 75 | €237 | - | -€237 | |
| Financial charges | 65/66B | €52,223 | €40,205 | -€12,019 | -23.0% |
| Recurring financial charges | 65 | €37,155 | €40,205 | +€3,050 | +8.2% |
| Non-recurring financial charges | 66B | €15,068 | - | -€15,068 | |
| Profit (loss) for the period before taxes | 9903 | -€35,963 | -€77,492 | -€41,529 | -115% |
| Profit (loss) for the period | 9904 | -€35,963 | -€77,492 | -€41,529 | -115% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,963 | -€77,492 | -€41,529 | -115% |
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 27 October 2026 via checked.be.