Hacosan: 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.
Hacosan
Largest movements
- Current investments +€145,000
up €145,000 (+32.2%), from €450,000 to €595,000
- Stocks and contracts -€47,527
down €47,527 (-37.0%), from €128,461 to €80,934
- Receivables within one year -€34,551
down €34,551 (-19.5%), from €177,042 to €142,491
of which Other amounts receivable: -€20,054
- Tangible fixed assets -€30,862
down €30,862 (-17.4%), from €177,184 to €146,322
of which Furniture and vehicles: -€30,862
- Cash -€12,309
down €12,309 (-13.6%), from €90,606 to €78,297
mainly Current investments (-€145,000) and Contributions, distributions and other (-€30,000)
- Other debts +€30,000
new in 2025: €30,000
- Depreciation +€21,150
up €21,150 (+218%), from €9,713 to €30,862
- Gross operating margin +€10,080
up €10,080 (+9.3%), from €108,528 to €118,608
- Financial income -€5,741
down €5,741 (-21.8%), from €26,338 to €20,596
of which Financial income: -€4,422
- Taxes -€4,711
down €4,711 (-26.4%), from €17,824 to €13,113
- Staff costs +€2,004
up €2,004 (+3.7%), from €53,653 to €55,657
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 | €1,025,456 | €1,049,923 | +€24,467 | +2.4% |
| Fixed assets | 21/28 | €177,815 | €146,322 | -€31,493 | -17.7% |
| Tangible fixed assets | 22/27 | €177,184 | €146,322 | -€30,862 | -17.4% |
| Land and buildings | 22 | €33,053 | €33,053 | = | 0.0% |
| Furniture and vehicles | 24 | €144,131 | €113,269 | -€30,862 | -21.4% |
| Financial fixed assets | 28 | €631 | €0 | -€631 | -100.0% |
| Current assets | 29/58 | €847,641 | €903,601 | +€55,960 | +6.6% |
| Stocks and contracts in progress | 3 | €128,461 | €80,934 | -€47,527 | -37.0% |
| Stocks | 30/36 | €128,461 | €80,934 | -€47,527 | -37.0% |
| Amounts receivable within one year | 40/41 | €177,042 | €142,491 | -€34,551 | -19.5% |
| Trade receivables | 40 | €131,728 | €117,232 | -€14,497 | -11.0% |
| Other amounts receivable | 41 | €45,314 | €25,259 | -€20,054 | -44.3% |
| Current investments | 50/53 | €450,000 | €595,000 | +€145,000 | +32.2% |
| Cash at bank and in hand | 54/58 | €90,606 | €78,297 | -€12,309 | -13.6% |
| Deferred charges and accrued income | 490/1 | €1,531 | €6,878 | +€5,347 | +349% |
| Total equity and liabilities | 10/49 | €1,025,456 | €1,049,923 | +€24,467 | +2.4% |
| Equity | 10/15 | €865,831 | €868,365 | +€2,534 | +0.3% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €193,556 | €193,556 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,958 | €13,958 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Other | 1319 | €1,563 | €1,563 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,611 | €1,611 | = | 0.0% |
| Distributable reserves | 133 | €177,988 | €177,988 | = | 0.0% |
| Profit (loss) carried forward | 14 | €548,328 | €550,862 | +€2,534 | +0.5% |
| Amounts payable | 17/49 | €159,624 | €181,557 | +€21,933 | +13.7% |
| Amounts payable within one year | 42/48 | €159,624 | €181,557 | +€21,933 | +13.7% |
| Trade debts | 44 | €153,248 | €146,423 | -€6,826 | -4.5% |
| Suppliers | 440/4 | €30,725 | €39,672 | +€8,947 | +29.1% |
| Bills of exchange payable | 441 | €122,523 | €106,750 | -€15,773 | -12.9% |
| Taxes, remuneration and social security | 45 | €6,376 | €5,134 | -€1,242 | -19.5% |
| Remuneration and social security | 454/9 | €6,376 | €5,134 | -€1,242 | -19.5% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Non-recurring operating income | 76A | - | €6,000 | +€6,000 | |
| Remuneration, social security and pensions | 62 | €53,653 | €55,657 | +€2,004 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,713 | €30,862 | +€21,150 | +218% |
| Other operating charges | 640/8 | €6,803 | €6,722 | -€81 | -1.2% |
| Gross operating margin | 9900 | €108,528 | €118,608 | +€10,080 | +9.3% |
| Operating profit (loss) | 9901 | €38,359 | €25,366 | -€12,993 | -33.9% |
| Financial income | 75/76B | €26,338 | €20,596 | -€5,741 | -21.8% |
| Recurring financial income | 75 | €19,273 | €14,851 | -€4,422 | -22.9% |
| Non-recurring financial income | 76B | €7,065 | €5,746 | -€1,319 | -18.7% |
| Financial charges | 65/66B | €318 | €316 | -€2 | -0.7% |
| Recurring financial charges | 65 | €318 | €316 | -€2 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | €64,378 | €45,647 | -€18,732 | -29.1% |
| Income taxes | 67/77 | €17,824 | €13,113 | -€4,711 | -26.4% |
| Profit (loss) for the period | 9904 | €46,555 | €32,534 | -€14,020 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €46,555 | €32,534 | -€14,020 | -30.1% |
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 25 October 2026 via checked.be.