DE HALSE PUB: 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.
DE HALSE PUB
Largest movements
- Tangible fixed assets -€52,793
down €52,793 (-5.7%), from €921,083 to €868,290
of which Land and buildings: -€55,681
- Receivables within one year +€47,041
up €47,041 (+117%), from €40,159 to €87,200
of which Other amounts receivable: +€46,419
- Stocks and contracts -€26,695
down €26,695 (-84.0%), from €31,783 to €5,088
- Cash +€21,874
new in 2025: €21,874
mainly Depreciation (+€59,956) and Tax, wage and social debts (+€29,646)
- Accrued charges and deferred income -€31,932
down €31,932 (-99.7%), from €32,020 to €88
- Tax, wage and social debts +€29,646
up €29,646 (+59.3%), from €49,986 to €79,632
of which Taxes: +€22,757
- Debts after one year +€19,967
up €19,967 (+3.1%), from €636,647 to €656,614
- Current portion of long-term debt -€15,381
down €15,381 (-21.7%), from €70,929 to €55,547
- Staff costs +€18,643
up €18,643 (+12.0%), from €155,057 to €173,700
- Other operating charges -€10,669
down €10,669 (-54.7%), from €19,504 to €8,836
- Depreciation -€9,224
down €9,224 (-13.3%), from €69,180 to €59,956
- Taxes -€8,223
down €8,223 (-61.8%), from €13,306 to €5,083
- Gross operating margin -€8,078
down €8,078 (-2.8%), from €293,410 to €285,332
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 | €993,286 | €990,187 | -€3,099 | -0.3% |
| Fixed assets | 21/28 | €921,083 | €868,290 | -€52,793 | -5.7% |
| Tangible fixed assets | 22/27 | €921,083 | €868,290 | -€52,793 | -5.7% |
| Land and buildings | 22 | €907,687 | €852,006 | -€55,681 | -6.1% |
| Plant, machinery and equipment | 23 | €10,550 | €12,301 | +€1,751 | +16.6% |
| Furniture and vehicles | 24 | €2,846 | €3,983 | +€1,137 | +40.0% |
| Current assets | 29/58 | €72,203 | €121,898 | +€49,694 | +68.8% |
| Stocks and contracts in progress | 3 | €31,783 | €5,088 | -€26,695 | -84.0% |
| Stocks | 30/36 | €31,783 | €5,088 | -€26,695 | -84.0% |
| Amounts receivable within one year | 40/41 | €40,159 | €87,200 | +€47,041 | +117% |
| Trade receivables | 40 | €4,260 | €4,882 | +€622 | +14.6% |
| Other amounts receivable | 41 | €35,899 | €82,318 | +€46,419 | +129% |
| Cash at bank and in hand | 54/58 | - | €21,874 | +€21,874 | |
| Deferred charges and accrued income | 490/1 | €262 | €7,736 | +€7,473 | +2,849% |
| Total equity and liabilities | 10/49 | €993,286 | €990,187 | -€3,099 | -0.3% |
| Equity | 10/15 | €142,229 | €143,454 | +€1,225 | +0.9% |
| Contributions | 10/11 | €131,200 | €131,200 | = | 0.0% |
| Reserves | 13 | €26,860 | €26,860 | = | 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% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,831 | -€14,606 | +€1,225 | +7.7% |
| Amounts payable | 17/49 | €851,057 | €846,733 | -€4,324 | -0.5% |
| Amounts payable after more than one year | 17 | €636,647 | €656,614 | +€19,967 | +3.1% |
| Financial debts | 170/4 | €636,647 | €656,614 | +€19,967 | +3.1% |
| Amounts payable within one year | 42/48 | €182,391 | €190,032 | +€7,641 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €70,929 | €55,547 | -€15,381 | -21.7% |
| Financial debts | 43 | €8,577 | - | -€8,577 | |
| Credit institutions | 430/8 | €8,577 | - | -€8,577 | |
| Trade debts | 44 | €11,952 | €13,905 | +€1,954 | +16.3% |
| Suppliers | 440/4 | €11,952 | €13,905 | +€1,954 | +16.3% |
| Taxes, remuneration and social security | 45 | €49,986 | €79,632 | +€29,646 | +59.3% |
| Taxes | 450/3 | €38,632 | €61,389 | +€22,757 | +58.9% |
| Remuneration and social security | 454/9 | €11,355 | €18,244 | +€6,889 | +60.7% |
| Other amounts payable | 47/48 | €40,947 | €40,947 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €32,020 | €88 | -€31,932 | -99.7% |
| Non-recurring operating income | 76A | €49,600 | - | -€49,600 | |
| Remuneration, social security and pensions | 62 | €155,057 | €173,700 | +€18,643 | +12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,180 | €59,956 | -€9,224 | -13.3% |
| Other operating charges | 640/8 | €19,504 | €8,836 | -€10,669 | -54.7% |
| Non-recurring operating charges | 66A | €590 | €8,844 | +€8,254 | +1,398% |
| Gross operating margin | 9900 | €293,410 | €285,332 | -€8,078 | -2.8% |
| Operating profit (loss) | 9901 | €49,078 | €33,995 | -€15,082 | -30.7% |
| Financial income | 75/76B | €1,067 | €3,176 | +€2,109 | +198% |
| Recurring financial income | 75 | €1,067 | €3,176 | +€2,109 | +198% |
| Financial charges | 65/66B | €22,855 | €30,864 | +€8,009 | +35.0% |
| Recurring financial charges | 65 | €22,855 | €30,864 | +€8,009 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | €27,290 | €6,307 | -€20,982 | -76.9% |
| Income taxes | 67/77 | €13,306 | €5,083 | -€8,223 | -61.8% |
| Profit (loss) for the period | 9904 | €13,984 | €1,225 | -€12,759 | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,984 | €1,225 | -€12,759 | -91.2% |
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 20 October 2026 via checked.be.