HACA-EUROPE: 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.
HACA-EUROPE
Largest movements
- Receivables within one year +€83,890
up €83,890 (+92.0%), from €91,219 to €175,109
of which Other amounts receivable: +€90,188
- Cash +€42,202
up €42,202 (+111%), from €38,184 to €80,386
mainly Other debts (+€237,133) and Net result for the year (+€35,548)
- Other debts +€237,133
up €237,133 (+3,757%), from €6,313 to €243,446
- Tax, wage and social debts -€68,518
down €68,518 (-87.1%), from €78,667 to €10,149
of which Taxes: -€67,396
- Debts after one year -€53,649
down €53,649 (-4.0%), from €1.3m to €1.3m
- Accrued charges and deferred income -€50,000
down €50,000 (-19.8%), from €253,000 to €203,000
- Reserves +€35,548
up €35,548 (+45.0%), from €78,944 to €114,493
- Other operating charges -€22,748
down €22,748 (-96.5%), from €23,575 to €828
- Gross operating margin -€21,696
down €21,696 (-12.7%), from €170,314 to €148,618
- Financial charges -€20,210
down €20,210 (-40.6%), from €49,780 to €29,570
- Financial income -€10,770
down €10,770 (-91.6%), from €11,759 to €989
- Depreciation +€10,520
up €10,520 (+224%), from €4,700 to €15,220
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 | €2,292,352 | €2,429,061 | +€136,709 | +6.0% |
| Fixed assets | 21/28 | €2,149,407 | €2,141,215 | -€8,192 | -0.4% |
| Intangible fixed assets | 21 | €861 | €609 | -€252 | -29.3% |
| Tangible fixed assets | 22/27 | €48,472 | €40,532 | -€7,940 | -16.4% |
| Plant, machinery and equipment | 23 | €4,931 | €3,017 | -€1,914 | -38.8% |
| Furniture and vehicles | 24 | €43,541 | €37,514 | -€6,026 | -13.8% |
| Financial fixed assets | 28 | €2,100,074 | €2,100,074 | = | 0.0% |
| Current assets | 29/58 | €142,944 | €287,845 | +€144,901 | +101% |
| Amounts receivable within one year | 40/41 | €91,219 | €175,109 | +€83,890 | +92.0% |
| Trade receivables | 40 | €90,895 | €84,597 | -€6,298 | -6.9% |
| Other amounts receivable | 41 | €324 | €90,512 | +€90,188 | +27,849% |
| Current investments | 50/53 | €6,000 | €24,096 | +€18,096 | +302% |
| Cash at bank and in hand | 54/58 | €38,184 | €80,386 | +€42,202 | +111% |
| Deferred charges and accrued income | 490/1 | €7,541 | €8,254 | +€713 | +9.5% |
| Total equity and liabilities | 10/49 | €2,292,352 | €2,429,061 | +€136,709 | +6.0% |
| Equity | 10/15 | €128,004 | €163,552 | +€35,548 | +27.8% |
| Contributions | 10/11 | €49,600 | €49,600 | = | 0.0% |
| Reserves | 13 | €78,944 | €114,493 | +€35,548 | +45.0% |
| Distributable reserves | 133 | €78,944 | €114,493 | +€35,548 | +45.0% |
| Profit (loss) carried forward | 14 | -€541 | -€541 | = | 0.0% |
| Amounts payable | 17/49 | €2,164,348 | €2,265,509 | +€101,161 | +4.7% |
| Amounts payable after more than one year | 17 | €1,324,736 | €1,271,087 | -€53,649 | -4.0% |
| Financial debts | 170/4 | €1,324,736 | €1,271,087 | -€53,649 | -4.0% |
| Amounts payable within one year | 42/48 | €586,612 | €791,422 | +€204,809 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €51,630 | €53,649 | +€2,018 | +3.9% |
| Financial debts | 43 | €380,000 | €396,702 | +€16,702 | +4.4% |
| Credit institutions | 430/8 | €380,000 | €380,000 | = | 0.0% |
| Other loans | 439 | - | €16,702 | +€16,702 | |
| Trade debts | 44 | €70,002 | €87,476 | +€17,474 | +25.0% |
| Suppliers | 440/4 | €70,002 | €87,476 | +€17,474 | +25.0% |
| Taxes, remuneration and social security | 45 | €78,667 | €10,149 | -€68,518 | -87.1% |
| Taxes | 450/3 | €67,396 | - | -€67,396 | |
| Remuneration and social security | 454/9 | €11,271 | €10,149 | -€1,122 | -10.0% |
| Other amounts payable | 47/48 | €6,313 | €243,446 | +€237,133 | +3,757% |
| Accrued charges and deferred income | 492/3 | €253,000 | €203,000 | -€50,000 | -19.8% |
| Non-recurring operating income | 76A | €44,370 | €10,000 | -€34,370 | -77.5% |
| Remuneration, social security and pensions | 62 | €49,522 | €53,177 | +€3,655 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,700 | €15,220 | +€10,520 | +224% |
| Other operating charges | 640/8 | €23,575 | €828 | -€22,748 | -96.5% |
| Gross operating margin | 9900 | €170,314 | €148,618 | -€21,696 | -12.7% |
| Operating profit (loss) | 9901 | €92,517 | €79,394 | -€13,123 | -14.2% |
| Financial income | 75/76B | €11,759 | €989 | -€10,770 | -91.6% |
| Recurring financial income | 75 | €11,759 | €989 | -€10,770 | -91.6% |
| Financial charges | 65/66B | €49,780 | €29,570 | -€20,210 | -40.6% |
| Recurring financial charges | 65 | €49,780 | €29,570 | -€20,210 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €54,495 | €50,812 | -€3,683 | -6.8% |
| Income taxes | 67/77 | €14,728 | €15,264 | +€536 | +3.6% |
| Profit (loss) for the period | 9904 | €39,767 | €35,548 | -€4,219 | -10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,767 | €35,548 | -€4,219 | -10.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.