The Hub Hub: what changed
The Hub Hub
Largest movements
- Cash +€93,559
up €93,559 (+138%), from €67,736 to €161,295
mainly Net result for the year (+€86,088) and Tax, wage and social debts (+€11,974)
- Tangible fixed assets -€8,475
down €8,475 (-36.4%), from €23,284 to €14,809
- Deferred charges and accrued income +€3,302
up €3,302 (+116%), from €2,856 to €6,158
- Reserves +€86,088
up €86,088 (+154%), from €55,767 to €141,855
- Tax, wage and social debts +€11,974
up €11,974 (+40.2%), from €29,755 to €41,729
- Debts after one year -€8,140
down €8,140 (-100%), from €8,140 to €0
- Current portion of long-term debt -€2,379
down €2,379 (-22.6%), from €10,519 to €8,140
- Gross operating margin +€47,734
up €47,734 (+65.6%), from €72,712 to €120,446
- Taxes +€9,662
up €9,662 (+68.7%), from €14,057 to €23,719
- Depreciation +€6,334
up €6,334 (+296%), from €2,142 to €8,475
- Other operating charges +€1,294
up €1,294 (+528%), from €245 to €1,539
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €113,054 | €201,440 | +€88,386 | +78.2% |
| Fixed assets | 21/28 | €23,284 | €14,809 | -€8,475 | -36.4% |
| Tangible fixed assets | 22/27 | €23,284 | €14,809 | -€8,475 | -36.4% |
| Furniture and vehicles | 24 | €23,284 | €14,809 | -€8,475 | -36.4% |
| Current assets | 29/58 | €89,770 | €186,631 | +€96,861 | +108% |
| Amounts receivable within one year | 40/41 | €19,179 | €19,179 | = | 0.0% |
| Trade receivables | 40 | €19,179 | €19,179 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,736 | €161,295 | +€93,559 | +138% |
| Deferred charges and accrued income | 490/1 | €2,856 | €6,158 | +€3,302 | +116% |
| Total equity and liabilities | 10/49 | €113,054 | €201,440 | +€88,386 | +78.2% |
| Equity | 10/15 | €60,767 | €146,855 | +€86,088 | +142% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €55,767 | €141,855 | +€86,088 | +154% |
| Distributable reserves | 133 | €55,767 | €141,855 | +€86,088 | +154% |
| Amounts payable | 17/49 | €52,288 | €54,585 | +€2,297 | +4.4% |
| Amounts payable after more than one year | 17 | €8,140 | €0 | -€8,140 | -100% |
| Financial debts | 170/4 | €8,140 | €0 | -€8,140 | -100% |
| Amounts payable within one year | 42/48 | €44,147 | €54,585 | +€10,438 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €10,519 | €8,140 | -€2,379 | -22.6% |
| Trade debts | 44 | €3,873 | €4,716 | +€843 | +21.8% |
| Suppliers | 440/4 | €3,873 | €4,716 | +€843 | +21.8% |
| Taxes, remuneration and social security | 45 | €29,755 | €41,729 | +€11,974 | +40.2% |
| Taxes | 450/3 | €29,755 | €41,729 | +€11,974 | +40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,142 | €8,475 | +€6,334 | +296% |
| Other operating charges | 640/8 | €245 | €1,539 | +€1,294 | +528% |
| Gross operating margin | 9900 | €72,712 | €120,446 | +€47,734 | +65.6% |
| Operating profit (loss) | 9901 | €70,325 | €110,433 | +€40,107 | +57.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -87.3% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -87.3% |
| Financial charges | 65/66B | €502 | €625 | +€123 | +24.5% |
| Recurring financial charges | 65 | €502 | €625 | +€123 | +24.5% |
| Profit (loss) for the period before taxes | 9903 | €69,824 | €109,807 | +€39,984 | +57.3% |
| Income taxes | 67/77 | €14,057 | €23,719 | +€9,662 | +68.7% |
| Profit (loss) for the period | 9904 | €55,767 | €86,088 | +€30,322 | +54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €55,767 | €86,088 | +€30,322 | +54.4% |
Next steps
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 8 November 2026 via checked.be.