HADI: 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.
What changed
HADI
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€275,375
2024 · €257,136+€18,239
Equity
€2.3m
2024 · €2.0m+€275,375
Cash
€899,893
2024 · €488,048+€411,845
Balance sheet total
€3.2m
2024 · €3.0m+€223,605
Largest movements
Assets
- Cash +€411,845
up €411,845 (+84.4%), from €488,048 to €899,893
mainly Net result for the year (+€275,375) and Current investments (+€248,807)
- Current investments -€248,807
down €248,807 (-55.4%), from €449,249 to €200,442
- Receivables within one year +€59,280
up €59,280 (+22.6%), from €262,663 to €321,943
of which Trade receivables: +€60,500
Equity and liabilities
- Reserves +€275,375
up €275,375 (+15.2%), from €1.8m to €2.1m
of which Distributable reserves: +€276,913
- Debts after one year -€64,883
down €64,883 (-16.2%), from €400,007 to €335,124
Income statement
- Gross operating margin +€25,919
up €25,919 (+6.1%), from €421,905 to €447,824
- Taxes +€9,153
up €9,153 (+11.5%), from €79,358 to €88,510
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.
Result 2024
€257,136
Gross operating margin
+€25,919
Depreciation
-€544
Other operating charges
+€2,282
Financial income
-€1,100
Financial charges
+€835
Taxes
-€9,153
Result 2025
€275,375
raises the resultlowers the result
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.
From operations
+€290,011
Investment
+€185,886
Financing
-€64,052
Cash 2024
€488,048
From operations (derived)
+€290,011
Net result for the year
+€275,375
Depreciation
+€61,635
Receivables within one year
-€59,280
Provisions
-€792
Trade debts
-€2,283
Tax, wage and social debts
+€13,951
Other debts
+€230
Accrued charges and deferred income
+€1,175
Investment (derived)
+€185,886
Investment in fixed assets (net)
-€62,921
Current investments
+€248,807
Financing
-€64,052
Debts after one year
-€64,883
Current portion of long-term debt
+€831
Cash 2025
€899,893
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,003,732 | €3,227,337 | +€223,605 | +7.4% |
| Fixed assets | 21/28 | €1,803,772 | €1,805,059 | +€1,287 | +0.1% |
| Tangible fixed assets | 22/27 | €1,803,772 | €1,805,059 | +€1,287 | +0.1% |
| Land and buildings | 22 | €1,803,772 | €1,805,059 | +€1,287 | +0.1% |
| Current assets | 29/58 | €1,199,960 | €1,422,278 | +€222,318 | +18.5% |
| Amounts receivable within one year | 40/41 | €262,663 | €321,943 | +€59,280 | +22.6% |
| Trade receivables | 40 | €261,360 | €321,860 | +€60,500 | +23.1% |
| Other amounts receivable | 41 | €1,303 | €83 | -€1,220 | -93.6% |
| Current investments | 50/53 | €449,249 | €200,442 | -€248,807 | -55.4% |
| Cash at bank and in hand | 54/58 | €488,048 | €899,893 | +€411,845 | +84.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,003,732 | €3,227,337 | +€223,605 | +7.4% |
| Equity | 10/15 | €1,997,814 | €2,273,190 | +€275,375 | +13.8% |
| Contributions | 10/11 | €190,000 | €190,000 | = | 0.0% |
| Capital | 10 | €190,000 | €190,000 | = | 0.0% |
| Issued capital | 100 | €190,000 | €190,000 | = | 0.0% |
| Reserves | 13 | €1,807,814 | €2,083,190 | +€275,375 | +15.2% |
| Non-distributable reserves | 130/1 | €19,000 | €19,000 | = | 0.0% |
| Legal reserve | 130 | €19,000 | €19,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,629 | €11,091 | -€1,538 | -12.2% |
| Distributable reserves | 133 | €1,776,185 | €2,053,098 | +€276,913 | +15.6% |
| Provisions and deferred taxes | 16 | €37,409 | €36,617 | -€792 | -2.1% |
| Provisions for liabilities and charges | 160/5 | €31,406 | €31,406 | = | 0.0% |
| Pensions and similar obligations | 160 | €31,406 | €31,406 | = | 0.0% |
| Deferred taxes | 168 | €6,003 | €5,211 | -€792 | -13.2% |
| Amounts payable | 17/49 | €968,509 | €917,530 | -€50,979 | -5.3% |
| Amounts payable after more than one year | 17 | €400,007 | €335,124 | -€64,883 | -16.2% |
| Financial debts | 170/4 | €400,007 | €335,124 | -€64,883 | -16.2% |
| Amounts payable within one year | 42/48 | €562,927 | €575,655 | +€12,729 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €64,052 | €64,883 | +€831 | +1.3% |
| Trade debts | 44 | €12,878 | €10,595 | -€2,283 | -17.7% |
| Suppliers | 440/4 | €12,878 | €10,595 | -€2,283 | -17.7% |
| Taxes, remuneration and social security | 45 | €72,568 | €86,519 | +€13,951 | +19.2% |
| Taxes | 450/3 | €68,587 | €82,538 | +€13,951 | +20.3% |
| Remuneration and social security | 454/9 | €3,981 | €3,981 | = | 0.0% |
| Other amounts payable | 47/48 | €413,429 | €413,658 | +€230 | +0.1% |
| Accrued charges and deferred income | 492/3 | €5,576 | €6,751 | +€1,175 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,090 | €61,635 | +€544 | +0.9% |
| Other operating charges | 640/8 | €15,795 | €13,513 | -€2,282 | -14.4% |
| Gross operating margin | 9900 | €421,905 | €447,824 | +€25,919 | +6.1% |
| Operating profit (loss) | 9901 | €345,020 | €372,676 | +€27,656 | +8.0% |
| Financial income | 75/76B | €5,074 | €3,974 | -€1,100 | -21.7% |
| Recurring financial income | 75 | €5,074 | €3,974 | -€1,100 | -21.7% |
| Financial charges | 65/66B | €14,392 | €13,557 | -€835 | -5.8% |
| Recurring financial charges | 65 | €14,392 | €13,557 | -€835 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €335,702 | €363,094 | +€27,392 | +8.2% |
| Transfer from deferred taxes | 780 | €792 | €792 | = | 0.0% |
| Income taxes | 67/77 | €79,358 | €88,510 | +€9,153 | +11.5% |
| Profit (loss) for the period | 9904 | €257,136 | €275,375 | +€18,239 | +7.1% |
| Transfer from tax-exempt reserves | 789 | €1,538 | €1,538 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €258,673 | €276,913 | +€18,239 | +7.1% |
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 16 October 2026 via checked.be.