Group Hazar: 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.
Group Hazar
Largest movements
- Receivables within one year +€202,524
up €202,524 (+336%), from €60,346 to €262,870
of which Trade receivables: +€202,087
- Cash -€19,164
down €19,164 (-61.1%), from €31,373 to €12,209
mainly Receivables within one year (-€202,524) and Stocks and contracts (-€10,236)
- Stocks and contracts +€10,236
up €10,236 (+42.7%), from €23,973 to €34,209
- Trade debts +€120,587
up €120,587 (+98.5%), from €122,362 to €242,949
- Other debts +€78,164
up €78,164 (+763%), from €10,240 to €88,404
- Profit (loss) carried forward -€10,180
down €10,180 (-92.3%), from -€11,026 to -€21,206
- Tax, wage and social debts +€3,869
up €3,869 (+31.9%), from €12,121 to €15,990
of which Taxes: +€5,277
- Gross operating margin +€78,541
up €78,541 (+205%), from €38,278 to €116,819
- Staff costs +€78,265
up €78,265 (+320%), from €24,470 to €102,735
- Other operating charges +€6,464
up €6,464 (+486%), from €1,330 to €7,794
- Financial charges +€3,055
up €3,055 (+2,163%), from €141 to €3,196
- Depreciation +€1,442
up €1,442 (+106%), from €1,358 to €2,800
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €136,697 | €329,137 | +€192,440 | +141% |
| Formation expenses | 20 | €1,868 | €1,433 | -€435 | -23.3% |
| Fixed assets | 21/28 | €18,247 | €15,882 | -€2,365 | -13.0% |
| Intangible fixed assets | 21 | €5,368 | €4,803 | -€565 | -10.5% |
| Tangible fixed assets | 22/27 | €5,544 | €3,744 | -€1,800 | -32.5% |
| Furniture and vehicles | 24 | €5,544 | €3,744 | -€1,800 | -32.5% |
| Financial fixed assets | 28 | €7,335 | €7,335 | = | 0.0% |
| Current assets | 29/58 | €116,583 | €311,822 | +€195,239 | +167% |
| Stocks and contracts in progress | 3 | €23,973 | €34,209 | +€10,236 | +42.7% |
| Stocks | 30/36 | €23,973 | €34,209 | +€10,236 | +42.7% |
| Amounts receivable within one year | 40/41 | €60,346 | €262,870 | +€202,524 | +336% |
| Trade receivables | 40 | €60,301 | €262,388 | +€202,087 | +335% |
| Other amounts receivable | 41 | €45 | €482 | +€437 | +963% |
| Cash at bank and in hand | 54/58 | €31,373 | €12,209 | -€19,164 | -61.1% |
| Deferred charges and accrued income | 490/1 | €890 | €2,534 | +€1,644 | +185% |
| Total equity and liabilities | 10/49 | €136,697 | €329,137 | +€192,440 | +141% |
| Equity | 10/15 | -€8,026 | -€18,206 | -€10,180 | -127% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,026 | -€21,206 | -€10,180 | -92.3% |
| Amounts payable | 17/49 | €144,723 | €347,343 | +€202,620 | +140% |
| Amounts payable within one year | 42/48 | €144,723 | €347,343 | +€202,620 | +140% |
| Trade debts | 44 | €122,362 | €242,949 | +€120,587 | +98.5% |
| Suppliers | 440/4 | €122,362 | €242,949 | +€120,587 | +98.5% |
| Taxes, remuneration and social security | 45 | €12,121 | €15,990 | +€3,869 | +31.9% |
| Taxes | 450/3 | €2,492 | €7,769 | +€5,277 | +212% |
| Remuneration and social security | 454/9 | €9,628 | €8,221 | -€1,407 | -14.6% |
| Other amounts payable | 47/48 | €10,240 | €88,404 | +€78,164 | +763% |
| Remuneration, social security and pensions | 62 | €24,470 | €102,735 | +€78,265 | +320% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,358 | €2,800 | +€1,442 | +106% |
| Other operating charges | 640/8 | €1,330 | €7,794 | +€6,464 | +486% |
| Non-recurring operating charges | 66A | €22,004 | €10,000 | -€12,004 | -54.6% |
| Gross operating margin | 9900 | €38,278 | €116,819 | +€78,541 | +205% |
| Operating profit (loss) | 9901 | -€10,885 | -€6,510 | +€4,375 | +40.2% |
| Financial income | 75/76B | €1 | €2 | +€1 | +292% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +292% |
| Financial charges | 65/66B | €141 | €3,196 | +€3,055 | +2,163% |
| Recurring financial charges | 65 | €141 | €3,196 | +€3,055 | +2,163% |
| Profit (loss) for the period before taxes | 9903 | -€11,026 | -€9,704 | +€1,322 | +12.0% |
| Income taxes | 67/77 | - | €476 | +€476 | |
| Profit (loss) for the period | 9904 | -€11,026 | -€10,180 | +€846 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,026 | -€10,180 | +€846 | +7.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.