MAISON ARMAND HUBERT: what changed
What changed
MAISON ARMAND HUBERT
NACE 47.770, Retail sale of watches and jewellery
filed annual accounts (NBB)
Net result for the year
€26,023
2024 · €10,089+€15,934
Equity
€478,490
2024 · €452,467+€26,023
Cash
€97,688
2024 · €71,532+€26,156
Balance sheet total
€590,414
2024 · €567,344+€23,070
Largest movements
Assets
- Cash +€26,156
up €26,156 (+36.6%), from €71,532 to €97,688
mainly Net result for the year (+€26,023) and Depreciation (+€11,137)
- Tangible fixed assets -€7,185
down €7,185 (-11.2%), from €63,956 to €56,770
of which Land and buildings: -€6,813
Equity and liabilities
- Reserves +€26,000
up €26,000 (+18.7%), from €139,000 to €165,000
of which Distributable reserves: +€26,000
- Trade debts -€6,154
down €6,154 (-44.7%), from €13,778 to €7,624
Income statement
- Gross operating margin +€23,958
up €23,958 (+46.7%), from €51,300 to €75,258
- Taxes +€6,194
up €6,194 (+140%), from €4,418 to €10,613
- Staff costs +€1,315
up €1,315 (+7.7%), from €17,000 to €18,315
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€10,089
Gross operating margin
+€23,958
Staff costs
-€1,315
Depreciation
-€478
Other operating charges
+€317
Financial income
-€13
Financial charges
-€343
Taxes
-€6,194
Result 2025
€26,023
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€30,107
Investment
-€3,951
Financing
€0
Cash 2024
€71,532
From operations (derived)
+€30,107
Net result for the year
+€26,023
Depreciation
+€11,137
Stocks and contracts
-€3,930
Smaller working-capital items
-€41
Deferred charges and accrued income
-€108
Trade debts
-€6,154
Tax, wage and social debts
+€2,519
Other debts
+€662
Investment (derived)
-€3,951
Investment in fixed assets (net)
-€3,951
Cash 2025
€97,688
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €567,344 | €590,414 | +€23,070 | +4.1% |
| Fixed assets | 21/28 | €63,956 | €56,770 | -€7,185 | -11.2% |
| Tangible fixed assets | 22/27 | €63,956 | €56,770 | -€7,185 | -11.2% |
| Land and buildings | 22 | €60,822 | €54,009 | -€6,813 | -11.2% |
| Furniture and vehicles | 24 | €3,134 | €2,762 | -€372 | -11.9% |
| Current assets | 29/58 | €503,389 | €533,644 | +€30,255 | +6.0% |
| Stocks and contracts in progress | 3 | €430,597 | €434,528 | +€3,930 | +0.9% |
| Stocks | 30/36 | €430,597 | €434,528 | +€3,930 | +0.9% |
| Amounts receivable within one year | 40/41 | €148 | €209 | +€61 | +41.3% |
| Trade receivables | 40 | - | €150 | +€150 | |
| Other amounts receivable | 41 | €148 | €59 | -€89 | -60.1% |
| Cash at bank and in hand | 54/58 | €71,532 | €97,688 | +€26,156 | +36.6% |
| Deferred charges and accrued income | 490/1 | €1,111 | €1,219 | +€108 | +9.7% |
| Total equity and liabilities | 10/49 | €567,344 | €590,414 | +€23,070 | +4.1% |
| Equity | 10/15 | €452,467 | €478,490 | +€26,023 | +5.8% |
| Contributions | 10/11 | €295,500 | €295,500 | = | 0.0% |
| Capital | 10 | €295,500 | €295,500 | = | 0.0% |
| Issued capital | 100 | €295,500 | €295,500 | = | 0.0% |
| Reserves | 13 | €139,000 | €165,000 | +€26,000 | +18.7% |
| Non-distributable reserves | 130/1 | €29,550 | €29,550 | = | 0.0% |
| Legal reserve | 130 | €29,550 | €29,550 | = | 0.0% |
| Distributable reserves | 133 | €109,450 | €135,450 | +€26,000 | +23.8% |
| Profit (loss) carried forward | 14 | €17,967 | €17,990 | +€23 | +0.1% |
| Amounts payable | 17/49 | €114,877 | €111,924 | -€2,953 | -2.6% |
| Amounts payable within one year | 42/48 | €110,125 | €107,152 | -€2,973 | -2.7% |
| Trade debts | 44 | €13,778 | €7,624 | -€6,154 | -44.7% |
| Suppliers | 440/4 | €13,778 | €7,624 | -€6,154 | -44.7% |
| Taxes, remuneration and social security | 45 | €17,147 | €19,666 | +€2,519 | +14.7% |
| Taxes | 450/3 | €13,047 | €15,091 | +€2,044 | +15.7% |
| Remuneration and social security | 454/9 | €4,100 | €4,575 | +€475 | +11.6% |
| Other amounts payable | 47/48 | €79,201 | €79,863 | +€662 | +0.8% |
| Accrued charges and deferred income | 492/3 | €4,752 | €4,772 | +€20 | +0.4% |
| Remuneration, social security and pensions | 62 | €17,000 | €18,315 | +€1,315 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,659 | €11,137 | +€478 | +4.5% |
| Other operating charges | 640/8 | €3,644 | €3,327 | -€317 | -8.7% |
| Gross operating margin | 9900 | €51,300 | €75,258 | +€23,958 | +46.7% |
| Operating profit (loss) | 9901 | €19,997 | €42,480 | +€22,483 | +112% |
| Financial income | 75/76B | €65 | €52 | -€13 | -19.5% |
| Recurring financial income | 75 | €65 | €52 | -€13 | -19.5% |
| Financial charges | 65/66B | €5,554 | €5,896 | +€343 | +6.2% |
| Recurring financial charges | 65 | €5,554 | €5,896 | +€343 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €14,508 | €36,636 | +€22,128 | +153% |
| Income taxes | 67/77 | €4,418 | €10,613 | +€6,194 | +140% |
| Profit (loss) for the period | 9904 | €10,089 | €26,023 | +€15,934 | +158% |
| Profit (loss) for the period to be appropriated | 9905 | €10,089 | €26,023 | +€15,934 | +158% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.