HA PRO: 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 PRO
Largest movements
- Stocks and contracts +€269,771
up €269,771 (+19.7%), from €1.4m to €1.6m
- Receivables within one year +€127,902
up €127,902 (+25.3%), from €505,457 to €633,358
of which Other amounts receivable: +€133,560
- Tangible fixed assets -€126,117
down €126,117 (-9.4%), from €1.3m to €1.2m
- Cash +€38,123
up €38,123 (+56.2%), from €67,877 to €106,000
mainly Trade debts (+€320,091) and Net result for the year (+€203,871)
- Trade debts +€320,091
up €320,091 (+27.7%), from €1.2m to €1.5m
- Reserves +€203,871
new in 2025: €203,871
- Debts after one year -€127,880
down €127,880 (-29.4%), from €434,991 to €307,111
- Other debts -€58,500
down €58,500 (-62.3%), from €93,828 to €35,328
- Gross operating margin -€73,014
down €73,014 (-7.2%), from €1.0m to €936,245
- Depreciation +€37,249
up €37,249 (+33.3%), from €112,008 to €149,257
- Financial charges +€18,300
up €18,300 (+260%), from €7,050 to €25,350
- Other operating charges +€14,307
up €14,307 (+62.4%), from €22,933 to €37,240
- Financial income +€11,382
up €11,382 (+85.6%), from €13,295 to €24,676
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 | €3,281,502 | €3,596,132 | +€314,630 | +9.6% |
| Fixed assets | 21/28 | €1,337,447 | €1,212,029 | -€125,417 | -9.4% |
| Tangible fixed assets | 22/27 | €1,336,147 | €1,210,029 | -€126,117 | -9.4% |
| Land and buildings | 22 | €851,214 | €823,364 | -€27,849 | -3.3% |
| Plant, machinery and equipment | 23 | €41,631 | €36,089 | -€5,542 | -13.3% |
| Furniture and vehicles | 24 | €82,086 | €59,073 | -€23,012 | -28.0% |
| Leasing and similar rights | 25 | €254,334 | €198,380 | -€55,954 | -22.0% |
| Other tangible fixed assets | 26 | €106,883 | €93,123 | -€13,760 | -12.9% |
| Financial fixed assets | 28 | €1,300 | €2,000 | +€700 | +53.8% |
| Current assets | 29/58 | €1,944,056 | €2,384,103 | +€440,047 | +22.6% |
| Stocks and contracts in progress | 3 | €1,368,873 | €1,638,645 | +€269,771 | +19.7% |
| Stocks | 30/36 | €1,368,873 | €1,638,645 | +€269,771 | +19.7% |
| Amounts receivable within one year | 40/41 | €505,457 | €633,358 | +€127,902 | +25.3% |
| Trade receivables | 40 | €482,363 | €476,705 | -€5,658 | -1.2% |
| Other amounts receivable | 41 | €23,094 | €156,653 | +€133,560 | +578% |
| Cash at bank and in hand | 54/58 | €67,877 | €106,000 | +€38,123 | +56.2% |
| Deferred charges and accrued income | 490/1 | €1,848 | €6,100 | +€4,251 | +230% |
| Total equity and liabilities | 10/49 | €3,281,502 | €3,596,132 | +€314,630 | +9.6% |
| Equity | 10/15 | €1,167,004 | €1,350,125 | +€183,121 | +15.7% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | - | €203,871 | +€203,871 | |
| Distributable reserves | 133 | - | €203,871 | +€203,871 | |
| Profit (loss) carried forward | 14 | €931,720 | €931,720 | = | 0.0% |
| Investment grants | 15 | €228,285 | €207,534 | -€20,750 | -9.1% |
| Amounts payable | 17/49 | €2,114,498 | €2,246,007 | +€131,509 | +6.2% |
| Amounts payable after more than one year | 17 | €434,991 | €307,111 | -€127,880 | -29.4% |
| Financial debts | 170/4 | €434,991 | €307,111 | -€127,880 | -29.4% |
| Amounts payable within one year | 42/48 | €1,679,507 | €1,938,897 | +€259,389 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €125,862 | €127,882 | +€2,020 | +1.6% |
| Trade debts | 44 | €1,154,738 | €1,474,829 | +€320,091 | +27.7% |
| Suppliers | 440/4 | €1,154,738 | €1,474,829 | +€320,091 | +27.7% |
| Taxes, remuneration and social security | 45 | €305,080 | €300,858 | -€4,222 | -1.4% |
| Taxes | 450/3 | €180,099 | €198,694 | +€18,595 | +10.3% |
| Remuneration and social security | 454/9 | €124,981 | €102,164 | -€22,817 | -18.3% |
| Other amounts payable | 47/48 | €93,828 | €35,328 | -€58,500 | -62.3% |
| Remuneration, social security and pensions | 62 | €441,107 | €445,587 | +€4,480 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,008 | €149,257 | +€37,249 | +33.3% |
| Other operating charges | 640/8 | €22,933 | €37,240 | +€14,307 | +62.4% |
| Non-recurring operating charges | 66A | €758 | €541 | -€217 | -28.6% |
| Gross operating margin | 9900 | €1,009,259 | €936,245 | -€73,014 | -7.2% |
| Operating profit (loss) | 9901 | €432,453 | €303,619 | -€128,833 | -29.8% |
| Financial income | 75/76B | €13,295 | €24,676 | +€11,382 | +85.6% |
| Recurring financial income | 75 | €13,295 | €24,676 | +€11,382 | +85.6% |
| Financial charges | 65/66B | €7,050 | €25,350 | +€18,300 | +260% |
| Recurring financial charges | 65 | €7,050 | €25,350 | +€18,300 | +260% |
| Profit (loss) for the period before taxes | 9903 | €438,698 | €302,946 | -€135,752 | -30.9% |
| Income taxes | 67/77 | €108,838 | €99,075 | -€9,763 | -9.0% |
| Profit (loss) for the period | 9904 | €329,859 | €203,871 | -€125,989 | -38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €329,859 | €203,871 | -€125,989 | -38.2% |
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 13 October 2026 via checked.be.