Dick Hanegreefs: 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.
Dick Hanegreefs
Largest movements
- Receivables within one year -€133,226
down €133,226 (-36.0%), from €370,383 to €237,158
of which Trade receivables: -€115,232
- Cash +€54,621
up €54,621 (+26.8%), from €203,686 to €258,308
mainly Receivables within one year (+€133,226) and Depreciation (+€37,195)
- Tangible fixed assets -€18,440
down €18,440 (-10.1%), from €181,998 to €163,558
of which Furniture and vehicles: -€26,835
- Stocks and contracts -€14,672
down €14,672 (-4.5%), from €323,420 to €308,748
- Other debts -€64,521
down €64,521 (-9.2%), from €699,964 to €635,443
- Trade debts -€47,366
down €47,366 (-68.0%), from €69,656 to €22,290
- Profit (loss) carried forward +€26,595
up €26,595 (+77.3%), from -€34,396 to -€7,801
- Debts after one year -€25,668
down €25,668 (-53.6%), from €47,876 to €22,208
- Gross operating margin +€83,973
up €83,973 (+4,902%), from €1,713 to €85,686
- Other operating charges +€8,727
up €8,727 (+87.3%), from €9,999 to €18,726
- Depreciation +€5,996
up €5,996 (+19.2%), from €31,198 to €37,195
- Financial charges -€1,056
down €1,056 (-27.8%), from €3,792 to €2,736
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 | €1,089,544 | €979,557 | -€109,987 | -10.1% |
| Fixed assets | 21/28 | €181,998 | €163,558 | -€18,440 | -10.1% |
| Tangible fixed assets | 22/27 | €181,998 | €163,558 | -€18,440 | -10.1% |
| Land and buildings | 22 | €4,347 | €3,464 | -€883 | -20.3% |
| Plant, machinery and equipment | 23 | €17,535 | €26,812 | +€9,277 | +52.9% |
| Furniture and vehicles | 24 | €160,116 | €133,281 | -€26,835 | -16.8% |
| Current assets | 29/58 | €907,546 | €815,999 | -€91,547 | -10.1% |
| Stocks and contracts in progress | 3 | €323,420 | €308,748 | -€14,672 | -4.5% |
| Stocks | 30/36 | €323,420 | €308,748 | -€14,672 | -4.5% |
| Amounts receivable within one year | 40/41 | €370,383 | €237,158 | -€133,226 | -36.0% |
| Trade receivables | 40 | €301,312 | €186,080 | -€115,232 | -38.2% |
| Other amounts receivable | 41 | €69,071 | €51,078 | -€17,993 | -26.1% |
| Cash at bank and in hand | 54/58 | €203,686 | €258,308 | +€54,621 | +26.8% |
| Deferred charges and accrued income | 490/1 | €10,057 | €11,786 | +€1,730 | +17.2% |
| Total equity and liabilities | 10/49 | €1,089,544 | €979,557 | -€109,987 | -10.1% |
| Equity | 10/15 | €245,563 | €272,158 | +€26,595 | +10.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €261,367 | €261,367 | = | 0.0% |
| Distributable reserves | 133 | €261,367 | €261,367 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,396 | -€7,801 | +€26,595 | +77.3% |
| Amounts payable | 17/49 | €843,980 | €707,399 | -€136,582 | -16.2% |
| Amounts payable after more than one year | 17 | €47,876 | €22,208 | -€25,668 | -53.6% |
| Financial debts | 170/4 | €47,876 | €22,208 | -€25,668 | -53.6% |
| Amounts payable within one year | 42/48 | €796,105 | €685,191 | -€110,914 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €24,638 | €25,668 | +€1,030 | +4.2% |
| Trade debts | 44 | €69,656 | €22,290 | -€47,366 | -68.0% |
| Suppliers | 440/4 | €69,656 | €22,290 | -€47,366 | -68.0% |
| Taxes, remuneration and social security | 45 | €1,847 | €1,790 | -€57 | -3.1% |
| Taxes | 450/3 | €1,847 | €1,790 | -€57 | -3.1% |
| Other amounts payable | 47/48 | €699,964 | €635,443 | -€64,521 | -9.2% |
| Non-recurring operating income | 76A | €8,000 | - | -€8,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,198 | €37,195 | +€5,996 | +19.2% |
| Other operating charges | 640/8 | €9,999 | €18,726 | +€8,727 | +87.3% |
| Gross operating margin | 9900 | €1,713 | €85,686 | +€83,973 | +4,902% |
| Operating profit (loss) | 9901 | -€39,484 | €29,765 | +€69,249 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €3,792 | €2,736 | -€1,056 | -27.8% |
| Recurring financial charges | 65 | €3,792 | €2,736 | -€1,056 | -27.8% |
| Profit (loss) for the period before taxes | 9903 | -€43,271 | €27,029 | +€70,300 | |
| Income taxes | 67/77 | €555 | €434 | -€121 | -21.8% |
| Profit (loss) for the period | 9904 | -€43,825 | €26,595 | +€70,421 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,825 | €26,595 | +€70,421 |
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 1 November 2026 via checked.be.