HADERIC: 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.
HADERIC
Largest movements
- Receivables within one year +€25,218
new in 2025: €25,218
- Cash -€19,206
down €19,206 (-49.4%), from €38,851 to €19,646
mainly Receivables within one year (-€25,218) and Other debts (-€18,818)
- Receivables after one year +€14,500
up €14,500 (+17.0%), from €85,500 to €100,000
- Tangible fixed assets -€3,073
down €3,073 (-38.1%), from €8,070 to €4,997
of which Other tangible fixed assets: -€2,190
- Reserves +€29,073
new in 2025: €29,073
- Other debts -€18,818
down €18,818 (-14.6%), from €129,308 to €110,490
- Profit (loss) carried forward +€7,207
no longer reported in 2025 (was -€7,207)
- Financial charges -€134,000
down €134,000, from €94,753 to -€39,247
- Financial income -€5,759
no longer reported in 2025 (was €5,759)
- Gross operating margin -€1,200
down €1,200 (-59.4%), from €2,021 to €821
- Depreciation -€408
down €408 (-11.7%), from €3,481 to €3,073
- Other operating charges +€218
up €218 (+43.9%), from €497 to €715
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.
Cash bridge derived
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 | €132,422 | €149,861 | +€17,439 | +13.2% |
| Fixed assets | 21/28 | €8,070 | €4,997 | -€3,073 | -38.1% |
| Tangible fixed assets | 22/27 | €8,070 | €4,997 | -€3,073 | -38.1% |
| Plant, machinery and equipment | 23 | €192 | - | -€192 | |
| Furniture and vehicles | 24 | €1,308 | €617 | -€691 | -52.8% |
| Other tangible fixed assets | 26 | €6,570 | €4,380 | -€2,190 | -33.3% |
| Current assets | 29/58 | €124,351 | €144,864 | +€20,512 | +16.5% |
| Amounts receivable after more than one year | 29 | €85,500 | €100,000 | +€14,500 | +17.0% |
| Other amounts receivable | 291 | €85,500 | €100,000 | +€14,500 | +17.0% |
| Amounts receivable within one year | 40/41 | - | €25,218 | +€25,218 | |
| Other amounts receivable | 41 | - | €25,218 | +€25,218 | |
| Cash at bank and in hand | 54/58 | €38,851 | €19,646 | -€19,206 | -49.4% |
| Total equity and liabilities | 10/49 | €132,422 | €149,861 | +€17,439 | +13.2% |
| Equity | 10/15 | €2,793 | €39,073 | +€36,279 | +1298.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €29,073 | +€29,073 | |
| Distributable reserves | 133 | - | €29,073 | +€29,073 | |
| Profit (loss) carried forward | 14 | -€7,207 | - | +€7,207 | |
| Amounts payable | 17/49 | €129,628 | €110,788 | -€18,840 | -14.5% |
| Amounts payable within one year | 42/48 | €129,628 | €110,788 | -€18,840 | -14.5% |
| Trade debts | 44 | €20 | €298 | +€279 | +1405.9% |
| Suppliers | 440/4 | €20 | €298 | +€279 | +1405.9% |
| Taxes, remuneration and social security | 45 | €300 | - | -€300 | |
| Taxes | 450/3 | €300 | - | -€300 | |
| Other amounts payable | 47/48 | €129,308 | €110,490 | -€18,818 | -14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,481 | €3,073 | -€408 | -11.7% |
| Other operating charges | 640/8 | €497 | €715 | +€218 | +43.9% |
| Gross operating margin | 9900 | €2,021 | €821 | -€1,200 | -59.4% |
| Operating profit (loss) | 9901 | -€1,957 | -€2,968 | -€1,011 | -51.6% |
| Financial income | 75/76B | €5,759 | - | -€5,759 | |
| Recurring financial income | 75 | €5,759 | - | -€5,759 | |
| Financial charges | 65/66B | €94,753 | -€39,247 | -€134,000 | |
| Recurring financial charges | 65 | €94,753 | -€39,247 | -€134,000 | |
| Profit (loss) for the period before taxes | 9903 | -€90,951 | €36,279 | +€127,230 | |
| Profit (loss) for the period | 9904 | -€90,951 | €36,279 | +€127,230 | |
| Profit (loss) for the period to be appropriated | 9905 | -€90,951 | €36,279 | +€127,230 |
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 9 October 2026 via checked.be.