Eric Haemers: 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.
Eric Haemers
Largest movements
- Stocks and contracts -€84,927
down €84,927 (-76.4%), from €111,113 to €26,185
of which Stocks: -€64,208
- Receivables within one year -€50,073
down €50,073 (-30.2%), from €165,589 to €115,517
of which Trade receivables: -€52,063
- Deferred charges and accrued income -€11,568
down €11,568 (-71.1%), from €16,263 to €4,695
- Tangible fixed assets -€11,406
down €11,406 (-60.1%), from €18,985 to €7,579
of which Plant, machinery and equipment: -€10,037
- Profit (loss) carried forward -€138,788
down €138,788 (-162.4%), from -€85,448 to -€224,235
- Other debts +€127,515
up €127,515 (+217.3%), from €58,673 to €186,188
- Debts after one year -€122,979
down €122,979 (-100.0%), from €122,979 to €0
- Tax, wage and social debts -€23,648
down €23,648 (-91.7%), from €25,780 to €2,132
of which Remuneration and social security: -€21,758
- Gross operating margin -€160,366
down €160,366, from €140,758 to -€19,608
- Staff costs -€116,650
down €116,650 (-53.9%), from €216,554 to €99,905
- Financial charges +€3,232
up €3,232 (+255.7%), from €1,264 to €4,495
- Other operating charges +€1,926
up €1,926 (+133.1%), from €1,447 to €3,374
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.
Cash bridge derived
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 | €318,057 | €158,769 | -€159,288 | -50.1% |
| Fixed assets | 21/28 | €19,109 | €7,704 | -€11,406 | -59.7% |
| Tangible fixed assets | 22/27 | €18,985 | €7,579 | -€11,406 | -60.1% |
| Plant, machinery and equipment | 23 | €15,576 | €5,538 | -€10,037 | -64.4% |
| Furniture and vehicles | 24 | €2,093 | €1,383 | -€710 | -33.9% |
| Other tangible fixed assets | 26 | €1,316 | €658 | -€658 | -50.0% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €298,948 | €151,065 | -€147,883 | -49.5% |
| Stocks and contracts in progress | 3 | €111,113 | €26,185 | -€84,927 | -76.4% |
| Stocks | 30/36 | €90,393 | €26,185 | -€64,208 | -71.0% |
| Contracts in progress | 37 | €20,719 | €0 | -€20,719 | -100.0% |
| Amounts receivable within one year | 40/41 | €165,589 | €115,517 | -€50,073 | -30.2% |
| Trade receivables | 40 | €165,245 | €113,182 | -€52,063 | -31.5% |
| Other amounts receivable | 41 | €344 | €2,335 | +€1,991 | +578.6% |
| Cash at bank and in hand | 54/58 | €5,983 | €4,668 | -€1,315 | -22.0% |
| Deferred charges and accrued income | 490/1 | €16,263 | €4,695 | -€11,568 | -71.1% |
| Total equity and liabilities | 10/49 | €318,057 | €158,769 | -€159,288 | -50.1% |
| Equity | 10/15 | €25,997 | -€112,791 | -€138,788 | |
| Contributions | 10/11 | €69,000 | €69,000 | = | 0.0% |
| Reserves | 13 | €42,445 | €42,445 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,900 | €6,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,900 | €6,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,545 | €35,545 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€85,448 | -€224,235 | -€138,788 | -162.4% |
| Amounts payable | 17/49 | €292,060 | €271,559 | -€20,501 | -7.0% |
| Amounts payable after more than one year | 17 | €122,979 | €0 | -€122,979 | -100.0% |
| Other amounts payable | 178/9 | €122,979 | €0 | -€122,979 | -100.0% |
| Amounts payable within one year | 42/48 | €162,731 | €265,209 | +€102,478 | +63.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €78,278 | €76,889 | -€1,389 | -1.8% |
| Suppliers | 440/4 | €78,278 | €76,889 | -€1,389 | -1.8% |
| Taxes, remuneration and social security | 45 | €25,780 | €2,132 | -€23,648 | -91.7% |
| Taxes | 450/3 | €4,022 | €2,132 | -€1,889 | -47.0% |
| Remuneration and social security | 454/9 | €21,758 | €0 | -€21,758 | -100.0% |
| Other amounts payable | 47/48 | €58,673 | €186,188 | +€127,515 | +217.3% |
| Accrued charges and deferred income | 492/3 | €6,350 | €6,350 | = | 0.0% |
| Non-recurring operating income | 76A | €19,625 | €97,572 | +€77,947 | +397.2% |
| Remuneration, social security and pensions | 62 | €216,554 | €99,905 | -€116,650 | -53.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,787 | €11,406 | -€382 | -3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,447 | €3,374 | +€1,926 | +133.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €140,758 | -€19,608 | -€160,366 | |
| Operating profit (loss) | 9901 | -€89,031 | -€134,292 | -€45,261 | -50.8% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €1,264 | €4,495 | +€3,232 | +255.7% |
| Recurring financial charges | 65 | €1,264 | €4,495 | +€3,232 | +255.7% |
| Profit (loss) for the period before taxes | 9903 | -€90,293 | -€138,788 | -€48,494 | -53.7% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100.0% |
| Profit (loss) for the period | 9904 | -€90,294 | -€138,788 | -€48,494 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,294 | -€138,788 | -€48,494 | -53.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.