HA Trading: 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 Trading
Largest movements
- Tangible fixed assets -€36,618
down €36,618 (-51.2%), from €71,504 to €34,887
of which Plant, machinery and equipment: -€25,954
- Intangible fixed assets -€1,810
down €1,810 (-79.4%), from €2,280 to €470
- Profit (loss) carried forward -€55,005
down €55,005 (-56.9%), from -€96,669 to -€151,674
- Other debts +€19,834
up €19,834 (+440%), from €4,512 to €24,345
- Debts after one year -€7,751
down €7,751 (-4.8%), from €161,880 to €154,129
- Current portion of long-term debt +€3,957
new in 2025: €3,957
- Depreciation +€38,428
up €38,428, from €0 to €38,428
- Gross operating margin -€17,297
down €17,297, from €2,310 to -€14,988
- Financial charges +€320
up €320 (+44.1%), from €726 to €1,046
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 | €77,919 | €40,120 | -€37,799 | -48.5% |
| Fixed assets | 21/28 | €73,785 | €35,357 | -€38,428 | -52.1% |
| Intangible fixed assets | 21 | €2,280 | €470 | -€1,810 | -79.4% |
| Tangible fixed assets | 22/27 | €71,504 | €34,887 | -€36,618 | -51.2% |
| Plant, machinery and equipment | 23 | €54,091 | €28,138 | -€25,954 | -48.0% |
| Furniture and vehicles | 24 | €13,273 | €3,509 | -€9,764 | -73.6% |
| Other tangible fixed assets | 26 | €4,140 | €3,240 | -€900 | -21.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €4,135 | €4,763 | +€629 | +15.2% |
| Stocks and contracts in progress | 3 | €2,791 | €3,195 | +€403 | +14.4% |
| Stocks | 30/36 | €2,791 | €3,195 | +€403 | +14.4% |
| Amounts receivable within one year | 40/41 | €0 | €197 | +€197 | |
| Trade receivables | 40 | €0 | €97 | +€97 | |
| Other amounts receivable | 41 | €0 | €100 | +€100 | |
| Cash at bank and in hand | 54/58 | €879 | €991 | +€112 | +12.7% |
| Deferred charges and accrued income | 490/1 | €464 | €380 | -€84 | -18.1% |
| Total equity and liabilities | 10/49 | €77,919 | €40,120 | -€37,799 | -48.5% |
| Equity | 10/15 | -€91,669 | -€146,674 | -€55,005 | -60.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,669 | -€151,674 | -€55,005 | -56.9% |
| Amounts payable | 17/49 | €169,588 | €186,794 | +€17,206 | +10.1% |
| Amounts payable after more than one year | 17 | €161,880 | €154,129 | -€7,751 | -4.8% |
| Financial debts | 170/4 | €161,880 | €154,129 | -€7,751 | -4.8% |
| Amounts payable within one year | 42/48 | €7,709 | €32,665 | +€24,957 | +324% |
| Current portion of amounts payable after more than one year | 42 | - | €3,957 | +€3,957 | |
| Financial debts | 43 | - | €334 | +€334 | |
| Credit institutions | 430/8 | - | €334 | +€334 | |
| Trade debts | 44 | €1,451 | €2,229 | +€778 | +53.6% |
| Suppliers | 440/4 | €1,451 | €2,229 | +€778 | +53.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,746 | €1,800 | +€54 | +3.1% |
| Taxes | 450/3 | €1,746 | €1,800 | +€54 | +3.1% |
| Other amounts payable | 47/48 | €4,512 | €24,345 | +€19,834 | +440% |
| Non-recurring operating income | 76A | €3,814 | €0 | -€3,814 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | €38,428 | +€38,428 | |
| Other operating charges | 640/8 | €646 | €544 | -€103 | -15.9% |
| Gross operating margin | 9900 | €2,310 | -€14,988 | -€17,297 | |
| Operating profit (loss) | 9901 | €1,663 | -€53,959 | -€55,622 | |
| Financial income | 75/76B | €55 | €0 | -€55 | -100.0% |
| Recurring financial income | 75 | €55 | €0 | -€55 | -100.0% |
| Financial charges | 65/66B | €726 | €1,046 | +€320 | +44.1% |
| Recurring financial charges | 65 | €726 | €1,046 | +€320 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | €993 | -€55,005 | -€55,998 | |
| Profit (loss) for the period | 9904 | €993 | -€55,005 | -€55,998 | |
| Profit (loss) for the period to be appropriated | 9905 | €993 | -€55,005 | -€55,998 |
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 18 October 2026 via checked.be.