EDMOND HANSSEN: 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.
EDMOND HANSSEN
Largest movements
- Receivables within one year +€137,636
up €137,636 (+107%), from €129,114 to €266,750
of which Trade receivables: +€132,553
- Cash +€62,556
up €62,556 (+262%), from €23,915 to €86,470
mainly Trade debts (+€113,830) and Net result for the year (+€93,410)
- Stocks and contracts +€38,460
up €38,460 (+49.9%), from €77,026 to €115,486
- Trade debts +€113,830
up €113,830 (+173%), from €65,872 to €179,702
- Profit (loss) carried forward +€93,410
up €93,410 (+70.8%), from €131,946 to €225,356
- Other debts +€32,600
up €32,600 (+92.9%), from €35,100 to €67,700
- Gross operating margin +€161,452
up €161,452, from -€42,418 to €119,034
- Taxes +€8,601
up €8,601, from €0 to €8,601
- Depreciation +€1,752
up €1,752 (+12.3%), from €14,270 to €16,022
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 | €257,749 | €493,510 | +€235,762 | +91.5% |
| Fixed assets | 21/28 | €24,349 | €21,021 | -€3,329 | -13.7% |
| Tangible fixed assets | 22/27 | €24,349 | €21,021 | -€3,329 | -13.7% |
| Plant, machinery and equipment | 23 | - | €3,593 | +€3,593 | |
| Furniture and vehicles | 24 | €24,349 | €17,428 | -€6,921 | -28.4% |
| Current assets | 29/58 | €233,400 | €472,490 | +€239,090 | +102% |
| Stocks and contracts in progress | 3 | €77,026 | €115,486 | +€38,460 | +49.9% |
| Stocks | 30/36 | €77,026 | €115,486 | +€38,460 | +49.9% |
| Amounts receivable within one year | 40/41 | €129,114 | €266,750 | +€137,636 | +107% |
| Trade receivables | 40 | €107,504 | €240,057 | +€132,553 | +123% |
| Other amounts receivable | 41 | €21,610 | €26,693 | +€5,083 | +23.5% |
| Cash at bank and in hand | 54/58 | €23,915 | €86,470 | +€62,556 | +262% |
| Deferred charges and accrued income | 490/1 | €3,345 | €3,783 | +€438 | +13.1% |
| Total equity and liabilities | 10/49 | €257,749 | €493,510 | +€235,762 | +91.5% |
| Equity | 10/15 | €150,546 | €243,956 | +€93,410 | +62.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,946 | €225,356 | +€93,410 | +70.8% |
| Amounts payable | 17/49 | €107,203 | €249,555 | +€142,352 | +133% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €107,203 | €249,555 | +€142,352 | +133% |
| Current portion of amounts payable after more than one year | 42 | €3,982 | €0 | -€3,982 | -100% |
| Trade debts | 44 | €65,872 | €179,702 | +€113,830 | +173% |
| Suppliers | 440/4 | €65,872 | €179,702 | +€113,830 | +173% |
| Taxes, remuneration and social security | 45 | €2,249 | €2,152 | -€96 | -4.3% |
| Taxes | 450/3 | €2,249 | €2,152 | -€96 | -4.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €35,100 | €67,700 | +€32,600 | +92.9% |
| Non-recurring operating income | 76A | €32 | €0 | -€32 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,270 | €16,022 | +€1,752 | +12.3% |
| Other operating charges | 640/8 | €989 | €738 | -€251 | -25.4% |
| Gross operating margin | 9900 | -€42,418 | €119,034 | +€161,452 | |
| Operating profit (loss) | 9901 | -€57,677 | €102,274 | +€159,951 | |
| Financial income | 75/76B | €2 | €50 | +€48 | +2,028% |
| Recurring financial income | 75 | €2 | €50 | +€48 | +2,028% |
| Financial charges | 65/66B | €388 | €314 | -€74 | -19.1% |
| Recurring financial charges | 65 | €388 | €314 | -€74 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | -€58,063 | €102,010 | +€160,073 | |
| Income taxes | 67/77 | €0 | €8,601 | +€8,601 | |
| Profit (loss) for the period | 9904 | -€58,063 | €93,410 | +€151,472 | |
| Profit (loss) for the period to be appropriated | 9905 | -€58,063 | €93,410 | +€151,472 |
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 25 October 2026 via checked.be.