HADES: what changed
Two fiscal 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.
HADES
Largest movements
- Receivables after one year -€14,940
down €14,940 (-100.0%), from €14,940 to €0
- Cash +€2,748
up €2,748 (+95.1%), from €2,889 to €5,637
mainly Receivables after one year (+€14,940) and Other debts (+€5,955)
- Tangible fixed assets -€635
down €635 (-20.8%), from €3,050 to €2,415
- Profit (loss) carried forward -€15,364
down €15,364 (-19.9%), from -€77,364 to -€92,728
- Other debts +€5,955
up €5,955 (+539.8%), from €1,103 to €7,059
- Trade debts -€3,869
down €3,869 (-77.9%), from €4,964 to €1,096
- Tax, wage and social debts +€741
up €741 (+392.4%), from €189 to €929
- Gross operating margin +€12,691
up €12,691 (+50.1%), from -€25,318 to -€12,627
- Financial income -€672
down €672 (-100.0%), from €672 to €0
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 | €27,872 | €15,055 | -€12,817 | -46.0% |
| Fixed assets | 21/28 | €3,050 | €2,415 | -€635 | -20.8% |
| Tangible fixed assets | 22/27 | €3,050 | €2,415 | -€635 | -20.8% |
| Furniture and vehicles | 24 | €3,050 | €2,415 | -€635 | -20.8% |
| Current assets | 29/58 | €24,822 | €12,640 | -€12,182 | -49.1% |
| Amounts receivable after more than one year | 29 | €14,940 | €0 | -€14,940 | -100.0% |
| Other amounts receivable | 291 | €14,940 | €0 | -€14,940 | -100.0% |
| Amounts receivable within one year | 40/41 | €5,134 | €4,941 | -€194 | -3.8% |
| Trade receivables | 40 | €4,028 | €4,621 | +€593 | +14.7% |
| Other amounts receivable | 41 | €1,107 | €320 | -€787 | -71.1% |
| Cash at bank and in hand | 54/58 | €2,889 | €5,637 | +€2,748 | +95.1% |
| Deferred charges and accrued income | 490/1 | €1,858 | €2,062 | +€204 | +11.0% |
| Total equity and liabilities | 10/49 | €27,872 | €15,055 | -€12,817 | -46.0% |
| Equity | 10/15 | €20,969 | €5,605 | -€15,364 | -73.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €79,783 | €79,783 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €0 | -€1,855 | -100.0% |
| Reserves not available under the articles | 1311 | €1,855 | €0 | -€1,855 | -100.0% |
| Distributable reserves | 133 | €77,928 | €79,783 | +€1,855 | +2.4% |
| Profit (loss) carried forward | 14 | -€77,364 | -€92,728 | -€15,364 | -19.9% |
| Amounts payable | 17/49 | €6,903 | €9,450 | +€2,547 | +36.9% |
| Amounts payable within one year | 42/48 | €6,285 | €9,084 | +€2,799 | +44.5% |
| Financial debts | 43 | €28 | €0 | -€28 | -100.0% |
| Credit institutions | 430/8 | €28 | €0 | -€28 | -100.0% |
| Trade debts | 44 | €4,964 | €1,096 | -€3,869 | -77.9% |
| Suppliers | 440/4 | €4,964 | €1,096 | -€3,869 | -77.9% |
| Taxes, remuneration and social security | 45 | €189 | €929 | +€741 | +392.4% |
| Taxes | 450/3 | €189 | €929 | +€741 | +392.4% |
| Other amounts payable | 47/48 | €1,103 | €7,059 | +€5,955 | +539.8% |
| Accrued charges and deferred income | 492/3 | €618 | €367 | -€252 | -40.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,064 | €1,008 | -€56 | -5.2% |
| Other operating charges | 640/8 | €1,119 | €1,150 | +€31 | +2.8% |
| Gross operating margin | 9900 | -€25,318 | -€12,627 | +€12,691 | +50.1% |
| Operating profit (loss) | 9901 | -€27,500 | -€14,784 | +€12,716 | +46.2% |
| Financial income | 75/76B | €672 | €0 | -€672 | -100.0% |
| Recurring financial income | 75 | €672 | €0 | -€672 | -100.0% |
| Financial charges | 65/66B | €206 | €375 | +€170 | +82.5% |
| Recurring financial charges | 65 | €206 | €375 | +€170 | +82.5% |
| Profit (loss) for the period before taxes | 9903 | -€27,033 | -€15,159 | +€11,874 | +43.9% |
| Income taxes | 67/77 | €180 | €204 | +€24 | +13.3% |
| Profit (loss) for the period | 9904 | -€27,214 | -€15,364 | +€11,850 | +43.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,214 | -€15,364 | +€11,850 | +43.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.