D'HAESE-AVO: what changed
What changed
D'HAESE-AVO
NACE 46.370, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€122,411
2024 · €95,065+€27,346
Equity
€496,692
2024 · €636,256-€139,565
Cash
€747,672
2024 · €565,594+€182,078
Balance sheet total
€1.2m
2024 · €1.3m-€89,204
Largest movements
Assets
- Tangible fixed assets -€233,067
down €233,067 (-86.3%), from €269,961 to €36,894
of which Land and buildings: -€228,664
- Cash +€182,078
up €182,078 (+32.2%), from €565,594 to €747,672
mainly Investment in fixed assets (net) (+€213,184) and Net result for the year (+€122,411)
- Receivables within one year -€37,639
down €37,639 (-11.9%), from €315,469 to €277,830
Equity and liabilities
- Contributions -€84,509
down €84,509 (-30.7%), from €275,000 to €190,491
- Reserves -€52,180
down €52,180 (-14.8%), from €351,898 to €299,717
of which Distributable reserves: -€44,763
- Accrued charges and deferred income +€31,505
up €31,505 (+379%), from €8,313 to €39,817
- Other debts +€15,153
up €15,153 (+7.6%), from €198,496 to €213,649
- Trade debts +€13,904
up €13,904 (+4.8%), from €287,143 to €301,047
Income statement
- Staff costs -€27,044
down €27,044 (-9.0%), from €300,247 to €273,204
- Taxes +€8,369
up €8,369 (+17.5%), from €47,935 to €56,304
- Financial income +€5,172
up €5,172 (+57.2%), from €9,042 to €14,215
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.
Result 2024
€95,065
Gross operating margin
+€2,586
Staff costs
+€27,044
Depreciation
+€781
Other operating charges
+€258
Other operating items
+€2,048
Financial income
+€5,172
Financial charges
-€2,173
Taxes
-€8,369
Result 2025
€122,411
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€241,750
Investment
+€213,184
Financing
-€272,856
Cash 2024
€565,594
From operations (derived)
+€241,750
Net result for the year
+€122,411
Depreciation
+€19,883
Stocks and contracts
-€1,418
Receivables within one year
+€37,639
Deferred charges and accrued income
+€1,994
Trade debts
+€13,904
Tax, wage and social debts
+€678
Other debts
+€15,153
Accrued charges and deferred income
+€31,505
Investment (derived)
+€213,184
Investment in fixed assets (net)
+€213,184
Financing
-€272,856
Debts after one year
-€11,215
Current portion of long-term debt
+€335
Contributions, distributions and other
-€261,976
Cash 2025
€747,672
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,258,713 | €1,169,508 | -€89,204 | -7.1% |
| Fixed assets | 21/28 | €270,356 | €37,289 | -€233,067 | -86.2% |
| Tangible fixed assets | 22/27 | €269,961 | €36,894 | -€233,067 | -86.3% |
| Land and buildings | 22 | €228,664 | - | -€228,664 | |
| Plant, machinery and equipment | 23 | €1,422 | €3,943 | +€2,522 | +177% |
| Furniture and vehicles | 24 | €7,301 | €5,631 | -€1,670 | -22.9% |
| Leasing and similar rights | 25 | €32,574 | €21,238 | -€11,336 | -34.8% |
| Other tangible fixed assets | 26 | - | €6,082 | +€6,082 | |
| Financial fixed assets | 28 | €395 | €395 | = | 0.0% |
| Current assets | 29/58 | €988,356 | €1,132,219 | +€143,862 | +14.6% |
| Stocks and contracts in progress | 3 | €100,763 | €102,181 | +€1,418 | +1.4% |
| Stocks | 30/36 | €100,763 | €102,181 | +€1,418 | +1.4% |
| Amounts receivable within one year | 40/41 | €315,469 | €277,830 | -€37,639 | -11.9% |
| Trade receivables | 40 | €315,469 | €277,830 | -€37,639 | -11.9% |
| Cash at bank and in hand | 54/58 | €565,594 | €747,672 | +€182,078 | +32.2% |
| Deferred charges and accrued income | 490/1 | €6,531 | €4,537 | -€1,994 | -30.5% |
| Total equity and liabilities | 10/49 | €1,258,713 | €1,169,508 | -€89,204 | -7.1% |
| Equity | 10/15 | €636,256 | €496,692 | -€139,565 | -21.9% |
| Contributions | 10/11 | €275,000 | €190,491 | -€84,509 | -30.7% |
| Contributions outside capital | 11 | €275,000 | €190,491 | -€84,509 | -30.7% |
| Other | 1109/19 | €275,000 | €190,491 | -€84,509 | -30.7% |
| Reserves | 13 | €351,898 | €299,717 | -€52,180 | -14.8% |
| Tax-exempt reserves | 132 | €24,137 | €16,720 | -€7,418 | -30.7% |
| Distributable reserves | 133 | €327,760 | €282,998 | -€44,763 | -13.7% |
| Profit (loss) carried forward | 14 | €9,359 | €6,483 | -€2,876 | -30.7% |
| Amounts payable | 17/49 | €622,456 | €672,816 | +€50,360 | +8.1% |
| Amounts payable after more than one year | 17 | €21,833 | €10,618 | -€11,215 | -51.4% |
| Financial debts | 170/4 | €21,833 | €10,618 | -€11,215 | -51.4% |
| Amounts payable within one year | 42/48 | €592,311 | €622,381 | +€30,070 | +5.1% |
| Current portion of amounts payable after more than one year | 42 | €10,879 | €11,215 | +€335 | +3.1% |
| Trade debts | 44 | €287,143 | €301,047 | +€13,904 | +4.8% |
| Suppliers | 440/4 | €287,143 | €301,047 | +€13,904 | +4.8% |
| Taxes, remuneration and social security | 45 | €95,792 | €96,470 | +€678 | +0.7% |
| Taxes | 450/3 | €60,673 | €62,971 | +€2,298 | +3.8% |
| Remuneration and social security | 454/9 | €35,120 | €33,500 | -€1,620 | -4.6% |
| Other amounts payable | 47/48 | €198,496 | €213,649 | +€15,153 | +7.6% |
| Accrued charges and deferred income | 492/3 | €8,313 | €39,817 | +€31,505 | +379% |
| Remuneration, social security and pensions | 62 | €300,247 | €273,204 | -€27,044 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,664 | €19,883 | -€781 | -3.8% |
| Other operating charges | 640/8 | €14,298 | €14,041 | -€258 | -1.8% |
| Non-recurring operating charges | 66A | €2,048 | - | -€2,048 | |
| Gross operating margin | 9900 | €486,896 | €489,482 | +€2,586 | +0.5% |
| Operating profit (loss) | 9901 | €149,638 | €182,354 | +€32,716 | +21.9% |
| Financial income | 75/76B | €9,042 | €14,215 | +€5,172 | +57.2% |
| Recurring financial income | 75 | €9,042 | €14,215 | +€5,172 | +57.2% |
| Financial charges | 65/66B | €15,681 | €17,854 | +€2,173 | +13.9% |
| Recurring financial charges | 65 | €15,681 | €17,854 | +€2,173 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €143,000 | €178,715 | +€35,715 | +25.0% |
| Income taxes | 67/77 | €47,935 | €56,304 | +€8,369 | +17.5% |
| Profit (loss) for the period | 9904 | €95,065 | €122,411 | +€27,346 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €95,065 | €122,411 | +€27,346 | +28.8% |
Next steps
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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 4 November 2026 via checked.be.