The Hummingbird Solution: 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.
The Hummingbird Solution
Largest movements
- Current investments -€20,166
down €20,166 (-26.8%), from €75,150 to €54,984
- Deferred charges and accrued income -€4,743
down €4,743 (-68.8%), from €6,898 to €2,155
- Receivables within one year +€2,766
up €2,766 (+761.3%), from €363 to €3,129
of which Other amounts receivable: +€2,592
- Other debts -€23,908
down €23,908 (-26.4%), from €90,547 to €66,639
- Short-term financial debts -€4,731
down €4,731 (-96.7%), from €4,892 to €161
- Tax, wage and social debts +€3,879
up €3,879 (+41.8%), from €9,289 to €13,168
- Financial income -€13,944
down €13,944 (-82.4%), from €16,914 to €2,970
- Gross operating margin +€7,556
up €7,556 (+9.2%), from €82,376 to €89,931
- Taxes +€1,205
up €1,205 (+7.3%), from €16,569 to €17,774
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.
Cash bridge derived
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 | €228,289 | €205,409 | -€22,879 | -10.0% |
| Fixed assets | 21/28 | €5,926 | €4,646 | -€1,280 | -21.6% |
| Tangible fixed assets | 22/27 | €5,926 | €4,646 | -€1,280 | -21.6% |
| Furniture and vehicles | 24 | €4,584 | €3,975 | -€609 | -13.3% |
| Other tangible fixed assets | 26 | €1,342 | €671 | -€671 | -50.0% |
| Current assets | 29/58 | €222,362 | €200,763 | -€21,599 | -9.7% |
| Amounts receivable within one year | 40/41 | €363 | €3,129 | +€2,766 | +761.3% |
| Trade receivables | 40 | - | €174 | +€174 | |
| Other amounts receivable | 41 | €363 | €2,955 | +€2,592 | +713.3% |
| Current investments | 50/53 | €75,150 | €54,984 | -€20,166 | -26.8% |
| Cash at bank and in hand | 54/58 | €139,951 | €140,495 | +€544 | +0.4% |
| Deferred charges and accrued income | 490/1 | €6,898 | €2,155 | -€4,743 | -68.8% |
| Total equity and liabilities | 10/49 | €228,289 | €205,409 | -€22,879 | -10.0% |
| Equity | 10/15 | €123,311 | €123,286 | -€26 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,686 | €104,686 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,335 | €1,335 | = | 0.0% |
| Distributable reserves | 133 | €103,351 | €103,351 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26 | €0 | -€26 | -100.0% |
| Amounts payable | 17/49 | €104,977 | €82,123 | -€22,854 | -21.8% |
| Amounts payable within one year | 42/48 | €104,912 | €82,123 | -€22,788 | -21.7% |
| Financial debts | 43 | €4,892 | €161 | -€4,731 | -96.7% |
| Credit institutions | 430/8 | €4,892 | €161 | -€4,731 | -96.7% |
| Trade debts | 44 | €184 | €2,156 | +€1,972 | +1072.1% |
| Suppliers | 440/4 | €184 | €2,156 | +€1,972 | +1072.1% |
| Taxes, remuneration and social security | 45 | €9,289 | €13,168 | +€3,879 | +41.8% |
| Taxes | 450/3 | €9,289 | €13,168 | +€3,879 | +41.8% |
| Other amounts payable | 47/48 | €90,547 | €66,639 | -€23,908 | -26.4% |
| Accrued charges and deferred income | 492/3 | €66 | €0 | -€66 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,476 | €1,966 | +€490 | +33.2% |
| Other operating charges | 640/8 | €802 | €642 | -€161 | -20.0% |
| Gross operating margin | 9900 | €82,376 | €89,931 | +€7,556 | +9.2% |
| Operating profit (loss) | 9901 | €80,097 | €87,324 | +€7,226 | +9.0% |
| Financial income | 75/76B | €16,914 | €2,970 | -€13,944 | -82.4% |
| Recurring financial income | 75 | €16,914 | €2,970 | -€13,944 | -82.4% |
| Financial charges | 65/66B | €2,223 | €2,325 | +€102 | +4.6% |
| Recurring financial charges | 65 | €2,223 | €2,325 | +€102 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €94,789 | €87,969 | -€6,820 | -7.2% |
| Income taxes | 67/77 | €16,569 | €17,774 | +€1,205 | +7.3% |
| Profit (loss) for the period | 9904 | €78,220 | €70,195 | -€8,025 | -10.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,220 | €70,195 | -€8,025 | -10.3% |
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 10 October 2026 via checked.be.