HA-KEY: 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.
HA-KEY
Largest movements
- Tangible fixed assets -€11,529
down €11,529 (-40.5%), from €28,450 to €16,921
- Receivables within one year +€8,685
new in 2025: €8,685
- Cash -€2,153
down €2,153 (-29.4%), from €7,315 to €5,162
mainly Other debts (-€9,546) and Receivables within one year (-€8,685)
- Other debts -€9,546
down €9,546 (-95.5%), from €10,000 to €454
- Profit (loss) carried forward +€6,342
up €6,342 (+59.0%), from €10,754 to €17,096
- Tax, wage and social debts -€2,371
down €2,371 (-21.6%), from €10,981 to €8,610
of which Taxes: -€3,641
- Trade debts +€697
up €697 (+67.7%), from €1,030 to €1,727
- Staff costs +€15,708
new in 2025: €15,708
- Gross operating margin +€6,127
up €6,127 (+23.6%), from €25,948 to €32,075
- Other operating charges -€4,972
down €4,972 (-91.7%), from €5,422 to €450
- Taxes -€3,831
down €3,831 (-90.1%), from €4,251 to €420
- Depreciation +€3,602
up €3,602 (+45.4%), from €7,927 to €11,529
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 | €35,765 | €30,887 | -€4,878 | -13.6% |
| Fixed assets | 21/28 | €28,450 | €17,040 | -€11,410 | -40.1% |
| Tangible fixed assets | 22/27 | €28,450 | €16,921 | -€11,529 | -40.5% |
| Furniture and vehicles | 24 | €28,450 | €16,921 | -€11,529 | -40.5% |
| Financial fixed assets | 28 | - | €119 | +€119 | |
| Current assets | 29/58 | €7,315 | €13,847 | +€6,532 | +89.3% |
| Amounts receivable within one year | 40/41 | - | €8,685 | +€8,685 | |
| Trade receivables | 40 | - | €8,685 | +€8,685 | |
| Cash at bank and in hand | 54/58 | €7,315 | €5,162 | -€2,153 | -29.4% |
| Total equity and liabilities | 10/49 | €35,765 | €30,887 | -€4,878 | -13.6% |
| Equity | 10/15 | €13,754 | €20,096 | +€6,342 | +46.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,754 | €17,096 | +€6,342 | +59.0% |
| Amounts payable | 17/49 | €22,011 | €10,791 | -€11,220 | -51.0% |
| Amounts payable within one year | 42/48 | €22,011 | €10,791 | -€11,220 | -51.0% |
| Trade debts | 44 | €1,030 | €1,727 | +€697 | +67.7% |
| Suppliers | 440/4 | €1,030 | €1,727 | +€697 | +67.7% |
| Taxes, remuneration and social security | 45 | €10,981 | €8,610 | -€2,371 | -21.6% |
| Taxes | 450/3 | €10,981 | €7,340 | -€3,641 | -33.2% |
| Remuneration and social security | 454/9 | - | €1,270 | +€1,270 | |
| Other amounts payable | 47/48 | €10,000 | €454 | -€9,546 | -95.5% |
| Remuneration, social security and pensions | 62 | - | €15,708 | +€15,708 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,927 | €11,529 | +€3,602 | +45.4% |
| Other operating charges | 640/8 | €5,422 | €450 | -€4,972 | -91.7% |
| Gross operating margin | 9900 | €25,948 | €32,075 | +€6,127 | +23.6% |
| Operating profit (loss) | 9901 | €12,599 | €4,388 | -€8,211 | -65.2% |
| Financial income | 75/76B | €2,462 | €2,463 | +€1 | 0.0% |
| Recurring financial income | 75 | €3 | €4 | +€1 | +33.3% |
| Non-recurring financial income | 76B | €2,459 | €2,459 | = | 0.0% |
| Financial charges | 65/66B | €56 | €89 | +€33 | +58.9% |
| Recurring financial charges | 65 | €56 | €89 | +€33 | +58.9% |
| Profit (loss) for the period before taxes | 9903 | €15,005 | €6,762 | -€8,243 | -54.9% |
| Income taxes | 67/77 | €4,251 | €420 | -€3,831 | -90.1% |
| Profit (loss) for the period | 9904 | €10,754 | €6,342 | -€4,412 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,754 | €6,342 | -€4,412 | -41.0% |
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 26 October 2026 via checked.be.