HAAGEN PROJECTS: 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.
HAAGEN PROJECTS
Largest movements
- Receivables after one year -€116,500
down €116,500 (-26.7%), from €436,500 to €320,000
- Tangible fixed assets -€50,203
down €50,203 (-4.7%), from €1.1m to €1.0m
of which Land and buildings: -€49,479
- Cash +€23,663
up €23,663 (+118%), from €20,039 to €43,703
mainly Other debts (+€193,856) and Receivables after one year (+€116,500)
- Debts after one year -€230,775
down €230,775 (-14.6%), from €1.6m to €1.4m
of which Financial debts: -€230,775
- Other debts +€193,856
up €193,856 (+549%), from €35,301 to €229,158
- Profit (loss) carried forward -€115,267
down €115,267 (-27.7%), from -€416,351 to -€531,617
- Financial charges +€15,191
up €15,191 (+18.6%), from €81,604 to €96,795
- Gross operating margin -€1,348
down €1,348 (-5.4%), from €25,113 to €23,765
- Other operating charges -€352
down €352 (-6.6%), from €5,336 to €4,984
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 | €1,553,859 | €1,405,868 | -€147,991 | -9.5% |
| Fixed assets | 21/28 | €1,074,354 | €1,024,151 | -€50,203 | -4.7% |
| Tangible fixed assets | 22/27 | €1,074,354 | €1,024,151 | -€50,203 | -4.7% |
| Land and buildings | 22 | €1,072,837 | €1,023,358 | -€49,479 | -4.6% |
| Plant, machinery and equipment | 23 | €1,517 | €793 | -€724 | -47.7% |
| Current assets | 29/58 | €479,506 | €381,717 | -€97,788 | -20.4% |
| Amounts receivable after more than one year | 29 | €436,500 | €320,000 | -€116,500 | -26.7% |
| Other amounts receivable | 291 | €436,500 | €320,000 | -€116,500 | -26.7% |
| Amounts receivable within one year | 40/41 | €8,838 | €3,964 | -€4,874 | -55.1% |
| Trade receivables | 40 | €3,023 | €2,164 | -€859 | -28.4% |
| Other amounts receivable | 41 | €5,815 | €1,800 | -€4,015 | -69.0% |
| Cash at bank and in hand | 54/58 | €20,039 | €43,703 | +€23,663 | +118% |
| Deferred charges and accrued income | 490/1 | €14,129 | €14,051 | -€78 | -0.6% |
| Total equity and liabilities | 10/49 | €1,553,859 | €1,405,868 | -€147,991 | -9.5% |
| Equity | 10/15 | -€67,067 | -€182,334 | -€115,267 | -172% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €330,683 | €330,683 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€416,351 | -€531,617 | -€115,267 | -27.7% |
| Amounts payable | 17/49 | €1,620,927 | €1,588,202 | -€32,724 | -2.0% |
| Amounts payable after more than one year | 17 | €1,584,775 | €1,354,000 | -€230,775 | -14.6% |
| Financial debts | 170/4 | €1,580,775 | €1,350,000 | -€230,775 | -14.6% |
| Other amounts payable | 178/9 | €4,000 | €4,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,152 | €233,552 | +€197,401 | +546% |
| Trade debts | 44 | €2 | €3,797 | +€3,795 | +160,785% |
| Suppliers | 440/4 | €2 | €3,797 | +€3,795 | +160,785% |
| Taxes, remuneration and social security | 45 | €848 | €598 | -€250 | -29.5% |
| Taxes | 450/3 | €848 | €598 | -€250 | -29.5% |
| Other amounts payable | 47/48 | €35,301 | €229,158 | +€193,856 | +549% |
| Accrued charges and deferred income | 492/3 | - | €650 | +€650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,203 | €50,203 | = | 0.0% |
| Other operating charges | 640/8 | €5,336 | €4,984 | -€352 | -6.6% |
| Gross operating margin | 9900 | €25,113 | €23,765 | -€1,348 | -5.4% |
| Operating profit (loss) | 9901 | -€30,426 | -€31,422 | -€996 | -3.3% |
| Financial income | 75/76B | €13,095 | €12,950 | -€145 | -1.1% |
| Recurring financial income | 75 | €13,095 | €12,950 | -€145 | -1.1% |
| Financial charges | 65/66B | €81,604 | €96,795 | +€15,191 | +18.6% |
| Recurring financial charges | 65 | €81,604 | €96,795 | +€15,191 | +18.6% |
| Profit (loss) for the period before taxes | 9903 | -€98,934 | -€115,267 | -€16,332 | -16.5% |
| Profit (loss) for the period | 9904 | -€98,934 | -€115,267 | -€16,332 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€98,934 | -€115,267 | -€16,332 | -16.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.