Serge 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.
Serge Hubert
Largest movements
- Receivables within one year +€1,679
up €1,679 (+304%), from €552 to €2,231
of which Other amounts receivable: +€2,082
- Cash -€251
down €251 (-15.5%), from €1,623 to €1,372
mainly Net result for the year (-€5,813) and Receivables within one year (-€1,679)
- Profit (loss) carried forward -€5,813
down €5,813 (-6.2%), from -€94,060 to -€99,873
- Other debts +€5,290
up €5,290 (+6.8%), from €77,635 to €82,925
- Trade debts +€1,951
new in 2025: €1,951
- Gross operating margin +€1,100
up €1,100 (+17.2%), from -€6,407 to -€5,307
- Other operating charges -€683
down €683 (-63.1%), from €1,082 to €400
- Financial charges -€74
down €74 (-40.8%), from €182 to €108
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 | €2,175 | €3,603 | +€1,428 | +65.6% |
| Current assets | 29/58 | €2,175 | €3,603 | +€1,428 | +65.6% |
| Amounts receivable within one year | 40/41 | €552 | €2,231 | +€1,679 | +304% |
| Trade receivables | 40 | €403 | - | -€403 | |
| Other amounts receivable | 41 | €149 | €2,231 | +€2,082 | +1,399% |
| Cash at bank and in hand | 54/58 | €1,623 | €1,372 | -€251 | -15.5% |
| Total equity and liabilities | 10/49 | €2,175 | €3,603 | +€1,428 | +65.6% |
| Equity | 10/15 | -€75,460 | -€81,273 | -€5,813 | -7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,060 | -€99,873 | -€5,813 | -6.2% |
| Amounts payable | 17/49 | €77,635 | €84,876 | +€7,241 | +9.3% |
| Amounts payable within one year | 42/48 | €77,635 | €84,876 | +€7,241 | +9.3% |
| Trade debts | 44 | - | €1,951 | +€1,951 | |
| Suppliers | 440/4 | - | €1,951 | +€1,951 | |
| Other amounts payable | 47/48 | €77,635 | €82,925 | +€5,290 | +6.8% |
| Other operating charges | 640/8 | €1,082 | €400 | -€683 | -63.1% |
| Gross operating margin | 9900 | -€6,407 | -€5,307 | +€1,100 | +17.2% |
| Operating profit (loss) | 9901 | -€7,489 | -€5,706 | +€1,783 | +23.8% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €182 | €108 | -€74 | -40.8% |
| Recurring financial charges | 65 | €182 | €108 | -€74 | -40.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,671 | -€5,813 | +€1,858 | +24.2% |
| Profit (loss) for the period | 9904 | -€7,671 | -€5,813 | +€1,858 | +24.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,671 | -€5,813 | +€1,858 | +24.2% |
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 18 October 2026 via checked.be.