HUVESEARCH: 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.
HUVESEARCH
Largest movements
- Cash -€35,722
down €35,722 (-78.4%), from €45,578 to €9,855
mainly Current investments (-€17,236) and Other debts (-€15,152)
- Current investments +€17,236
new in 2025: €17,236
- Tangible fixed assets +€6,170
up €6,170 (+98.1%), from €6,292 to €12,462
of which Plant, machinery and equipment: +€8,368
- Receivables within one year -€5,234
down €5,234 (-57.9%), from €9,032 to €3,798
of which Trade receivables: -€5,145
- Other debts -€15,152
no longer reported in 2025 (was €15,152)
- Profit (loss) carried forward -€4,407
new in 2025: -€4,407
- Trade debts +€1,785
up €1,785 (+676%), from €264 to €2,049
- Gross operating margin -€23,634
down €23,634 (-95.8%), from €24,666 to €1,033
- Taxes -€7,057
down €7,057 (-100%), from €7,057 to €0
- Financial charges +€818
up €818 (+111%), from €737 to €1,555
- Depreciation -€534
down €534 (-13.3%), from €4,012 to €3,477
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 | €112,893 | €95,955 | -€16,937 | -15.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €8,032 | €14,202 | +€6,170 | +76.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €6,292 | €12,462 | +€6,170 | +98.1% |
| Plant, machinery and equipment | 23 | €2,752 | €11,120 | +€8,368 | +304% |
| Furniture and vehicles | 24 | €3,540 | €1,342 | -€2,199 | -62.1% |
| Financial fixed assets | 28 | €1,740 | €1,740 | = | 0.0% |
| Current assets | 29/58 | €104,860 | €81,753 | -€23,107 | -22.0% |
| Stocks and contracts in progress | 3 | €49,872 | €49,898 | +€26 | +0.1% |
| Stocks | 30/36 | €49,872 | €38,156 | -€11,716 | -23.5% |
| Contracts in progress | 37 | - | €11,743 | +€11,743 | |
| Amounts receivable within one year | 40/41 | €9,032 | €3,798 | -€5,234 | -57.9% |
| Trade receivables | 40 | €5,943 | €798 | -€5,145 | -86.6% |
| Other amounts receivable | 41 | €3,089 | €3,000 | -€89 | -2.9% |
| Current investments | 50/53 | - | €17,236 | +€17,236 | |
| Cash at bank and in hand | 54/58 | €45,578 | €9,855 | -€35,722 | -78.4% |
| Deferred charges and accrued income | 490/1 | €378 | €966 | +€587 | +155% |
| Total equity and liabilities | 10/49 | €112,893 | €95,955 | -€16,937 | -15.0% |
| Equity | 10/15 | €61,857 | €57,450 | -€4,407 | -7.1% |
| Contributions | 10/11 | €15,152 | €15,152 | = | 0.0% |
| Reserves | 13 | €46,705 | €46,705 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,045 | €13,045 | = | 0.0% |
| Distributable reserves | 133 | €31,800 | €31,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€4,407 | -€4,407 | |
| Provisions and deferred taxes | 16 | €30,000 | €30,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €30,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable | 17/49 | €21,035 | €8,505 | -€12,530 | -59.6% |
| Amounts payable within one year | 42/48 | €20,270 | €7,066 | -€13,204 | -65.1% |
| Trade debts | 44 | €264 | €2,049 | +€1,785 | +676% |
| Suppliers | 440/4 | €264 | €2,049 | +€1,785 | +676% |
| Advances received on contracts in progress | 46 | - | €158 | +€158 | |
| Taxes, remuneration and social security | 45 | €4,855 | €4,859 | +€5 | +0.1% |
| Taxes | 450/3 | €4,855 | €4,859 | +€5 | +0.1% |
| Other amounts payable | 47/48 | €15,152 | - | -€15,152 | |
| Accrued charges and deferred income | 492/3 | €765 | €1,439 | +€674 | +88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,012 | €3,477 | -€534 | -13.3% |
| Other operating charges | 640/8 | €650 | €684 | +€34 | +5.2% |
| Gross operating margin | 9900 | €24,666 | €1,033 | -€23,634 | -95.8% |
| Operating profit (loss) | 9901 | €20,005 | -€3,129 | -€23,133 | |
| Financial income | 75/76B | €88 | €277 | +€189 | +216% |
| Recurring financial income | 75 | €88 | €277 | +€189 | +216% |
| Financial charges | 65/66B | €737 | €1,555 | +€818 | +111% |
| Recurring financial charges | 65 | €737 | €1,555 | +€818 | +111% |
| Profit (loss) for the period before taxes | 9903 | €19,355 | -€4,407 | -€23,762 | |
| Income taxes | 67/77 | €7,057 | €0 | -€7,057 | -100% |
| Profit (loss) for the period | 9904 | €12,298 | -€4,407 | -€16,705 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,298 | -€4,407 | -€16,705 |
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 30 October 2026 via checked.be.