DIRK HAEST: 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.
DIRK HAEST
Largest movements
- Receivables within one year -€66,985
down €66,985 (-58.9%), from €113,686 to €46,700
of which Trade receivables: -€82,694
- Current investments +€58,000
new in 2025: €58,000
- Cash +€55,356
up €55,356 (+33.5%), from €165,462 to €220,818
mainly Net result for the year (+€119,858) and Receivables within one year (+€66,985)
- Tangible fixed assets -€31,820
down €31,820 (-27.8%), from €114,625 to €82,805
of which Furniture and vehicles: -€24,817
- Reserves +€119,700
up €119,700 (+57.0%), from €209,830 to €329,530
of which Distributable reserves: +€119,700
- Trade debts -€52,239
down €52,239 (-62.6%), from €83,415 to €31,176
- Tax, wage and social debts -€43,867
down €43,867 (-92.6%), from €47,380 to €3,512
of which Taxes: -€43,393
- Current portion of long-term debt -€8,496
down €8,496 (-83.2%), from €10,209 to €1,713
- Gross operating margin +€51,811
up €51,811 (+33.1%), from €156,524 to €208,334
- Taxes +€16,046
up €16,046 (+46.6%), from €34,466 to €50,512
- Depreciation +€3,338
up €3,338 (+11.2%), from €29,784 to €33,122
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 | €400,956 | €411,720 | +€10,764 | +2.7% |
| Fixed assets | 21/28 | €116,791 | €84,971 | -€31,820 | -27.2% |
| Tangible fixed assets | 22/27 | €114,625 | €82,805 | -€31,820 | -27.8% |
| Plant, machinery and equipment | 23 | €63,745 | €56,742 | -€7,003 | -11.0% |
| Furniture and vehicles | 24 | €50,880 | €26,063 | -€24,817 | -48.8% |
| Financial fixed assets | 28 | €2,166 | €2,166 | = | 0.0% |
| Current assets | 29/58 | €284,165 | €326,749 | +€42,584 | +15.0% |
| Amounts receivable within one year | 40/41 | €113,686 | €46,700 | -€66,985 | -58.9% |
| Trade receivables | 40 | €113,686 | €30,992 | -€82,694 | -72.7% |
| Other amounts receivable | 41 | - | €15,709 | +€15,709 | |
| Current investments | 50/53 | - | €58,000 | +€58,000 | |
| Cash at bank and in hand | 54/58 | €165,462 | €220,818 | +€55,356 | +33.5% |
| Deferred charges and accrued income | 490/1 | €5,017 | €1,231 | -€3,786 | -75.5% |
| Total equity and liabilities | 10/49 | €400,956 | €411,720 | +€10,764 | +2.7% |
| Equity | 10/15 | €229,839 | €349,697 | +€119,858 | +52.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €209,830 | €329,530 | +€119,700 | +57.0% |
| 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 | €207,970 | €327,670 | +€119,700 | +57.6% |
| Profit (loss) carried forward | 14 | €1,409 | €1,567 | +€158 | +11.2% |
| Amounts payable | 17/49 | €171,117 | €62,023 | -€109,093 | -63.8% |
| Amounts payable after more than one year | 17 | €1,713 | - | -€1,713 | |
| Financial debts | 170/4 | €1,713 | - | -€1,713 | |
| Amounts payable within one year | 42/48 | €167,687 | €60,355 | -€107,332 | -64.0% |
| Current portion of amounts payable after more than one year | 42 | €10,209 | €1,713 | -€8,496 | -83.2% |
| Trade debts | 44 | €83,415 | €31,176 | -€52,239 | -62.6% |
| Suppliers | 440/4 | €83,415 | €31,176 | -€52,239 | -62.6% |
| Taxes, remuneration and social security | 45 | €47,380 | €3,512 | -€43,867 | -92.6% |
| Taxes | 450/3 | €46,906 | €3,512 | -€43,393 | -92.5% |
| Remuneration and social security | 454/9 | €474 | - | -€474 | |
| Other amounts payable | 47/48 | €26,683 | €23,954 | -€2,730 | -10.2% |
| Accrued charges and deferred income | 492/3 | €1,716 | €1,668 | -€48 | -2.8% |
| Non-recurring operating income | 76A | €3,244 | - | -€3,244 | |
| Remuneration, social security and pensions | 62 | €2,399 | €1,353 | -€1,046 | -43.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,784 | €33,122 | +€3,338 | +11.2% |
| Other operating charges | 640/8 | €3,127 | €3,187 | +€60 | +1.9% |
| Gross operating margin | 9900 | €156,524 | €208,334 | +€51,811 | +33.1% |
| Operating profit (loss) | 9901 | €121,213 | €170,672 | +€49,459 | +40.8% |
| Financial income | 75/76B | €178 | €4 | -€175 | -97.9% |
| Recurring financial income | 75 | €178 | €4 | -€175 | -97.9% |
| Financial charges | 65/66B | €357 | €306 | -€51 | -14.4% |
| Recurring financial charges | 65 | €357 | €306 | -€51 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €121,034 | €170,370 | +€49,336 | +40.8% |
| Income taxes | 67/77 | €34,466 | €50,512 | +€16,046 | +46.6% |
| Profit (loss) for the period | 9904 | €86,568 | €119,858 | +€33,290 | +38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €86,568 | €119,858 | +€33,290 | +38.5% |
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 22 October 2026 via checked.be.