ALEXANDER HANSEBOUT: 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.
ALEXANDER HANSEBOUT
Largest movements
- Receivables within one year +€116,238
up €116,238 (+59.3%), from €195,970 to €312,208
- Current investments +€40,216
up €40,216 (+4.1%), from €985,492 to €1.0m
- Cash +€30,561
up €30,561 (+10.9%), from €280,246 to €310,808
mainly Net result for the year (+€314,818) and Other debts (+€20,383)
- Reserves +€164,243
up €164,243 (+12.5%), from €1.3m to €1.5m
of which Distributable reserves: +€164,243
- Other debts +€20,383
up €20,383 (+18.7%), from €109,053 to €129,436
- Gross operating margin +€138,198
up €138,198 (+47.9%), from €288,778 to €426,975
- Taxes +€56,883
up €56,883 (+67.0%), from €84,891 to €141,774
- Financial income +€24,656
up €24,656 (+105%), from €23,452 to €48,107
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 | €1,478,103 | €1,666,412 | +€188,309 | +12.7% |
| Fixed assets | 21/28 | €13,951 | €16,113 | +€2,162 | +15.5% |
| Tangible fixed assets | 22/27 | €1,700 | €3,862 | +€2,162 | +127% |
| Furniture and vehicles | 24 | - | €2,162 | +€2,162 | |
| Other tangible fixed assets | 26 | €1,700 | €1,700 | = | 0.0% |
| Financial fixed assets | 28 | €12,251 | €12,251 | = | 0.0% |
| Current assets | 29/58 | €1,464,152 | €1,650,299 | +€186,147 | +12.7% |
| Amounts receivable within one year | 40/41 | €195,970 | €312,208 | +€116,238 | +59.3% |
| Trade receivables | 40 | €195,970 | €312,208 | +€116,238 | +59.3% |
| Current investments | 50/53 | €985,492 | €1,025,709 | +€40,216 | +4.1% |
| Cash at bank and in hand | 54/58 | €280,246 | €310,808 | +€30,561 | +10.9% |
| Deferred charges and accrued income | 490/1 | €2,444 | €1,575 | -€869 | -35.5% |
| Total equity and liabilities | 10/49 | €1,478,103 | €1,666,412 | +€188,309 | +12.7% |
| Equity | 10/15 | €1,322,824 | €1,487,067 | +€164,243 | +12.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,310,424 | €1,474,667 | +€164,243 | +12.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,308,564 | €1,472,807 | +€164,243 | +12.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €155,279 | €179,345 | +€24,066 | +15.5% |
| Amounts payable within one year | 42/48 | €155,279 | €179,345 | +€24,066 | +15.5% |
| Trade debts | 44 | €3,731 | €845 | -€2,886 | -77.4% |
| Suppliers | 440/4 | €3,731 | €845 | -€2,886 | -77.4% |
| Taxes, remuneration and social security | 45 | €42,495 | €49,065 | +€6,569 | +15.5% |
| Taxes | 450/3 | €37,785 | €44,355 | +€6,569 | +17.4% |
| Remuneration and social security | 454/9 | €4,710 | €4,710 | = | 0.0% |
| Other amounts payable | 47/48 | €109,053 | €129,436 | +€20,383 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €400 | +€400 | |
| Other operating charges | 640/8 | €1,695 | €1,748 | +€53 | +3.1% |
| Gross operating margin | 9900 | €288,778 | €426,975 | +€138,198 | +47.9% |
| Operating profit (loss) | 9901 | €287,082 | €424,827 | +€137,745 | +48.0% |
| Financial income | 75/76B | €23,452 | €48,107 | +€24,656 | +105% |
| Recurring financial income | 75 | €23,452 | €48,107 | +€24,656 | +105% |
| Financial charges | 65/66B | €14,166 | €16,342 | +€2,176 | +15.4% |
| Recurring financial charges | 65 | €14,166 | €16,342 | +€2,176 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €296,368 | €456,592 | +€160,224 | +54.1% |
| Income taxes | 67/77 | €84,891 | €141,774 | +€56,883 | +67.0% |
| Profit (loss) for the period | 9904 | €211,477 | €314,818 | +€103,341 | +48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €211,477 | €314,818 | +€103,341 | +48.9% |
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 28 October 2026 via checked.be.