HADOR: 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.
HADOR
Largest movements
- Tangible fixed assets -€9,573
down €9,573 (-79.4%), from €12,062 to €2,489
of which Furniture and vehicles: -€8,597
- Deferred charges and accrued income +€691
up €691 (+1,003%), from €69 to €760
- Cash -€385
down €385 (-9.6%), from €4,016 to €3,631
mainly Trade debts (-€5,034) and Net result for the year (-€4,692)
- Trade debts -€5,034
down €5,034 (-54.0%), from €9,320 to €4,285
- Profit (loss) carried forward -€4,692
down €4,692 (-19.6%), from -€23,897 to -€28,588
- Tax, wage and social debts -€897
down €897 (-12.6%), from €7,101 to €6,205
of which Remuneration and social security: -€2,442
- Accrued charges and deferred income +€635
new in 2025: €635
- Other debts +€460
up €460 (+67.1%), from €686 to €1,146
- Gross operating margin +€6,818
up €6,818 (+15.0%), from €45,574 to €52,392
- Staff costs +€1,189
up €1,189 (+2.7%), from €44,842 to €46,032
- Other operating charges +€676
up €676 (+147%), from €460 to €1,136
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 | €28,497 | €18,969 | -€9,528 | -33.4% |
| Fixed assets | 21/28 | €12,062 | €2,489 | -€9,573 | -79.4% |
| Tangible fixed assets | 22/27 | €12,062 | €2,489 | -€9,573 | -79.4% |
| Plant, machinery and equipment | 23 | €1,974 | €1,214 | -€761 | -38.5% |
| Furniture and vehicles | 24 | €9,872 | €1,275 | -€8,597 | -87.1% |
| Other tangible fixed assets | 26 | €215 | - | -€215 | |
| Current assets | 29/58 | €16,435 | €16,480 | +€45 | +0.3% |
| Amounts receivable after more than one year | 29 | €7,000 | €7,000 | = | 0.0% |
| Other amounts receivable | 291 | €7,000 | €7,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,351 | €5,089 | -€261 | -4.9% |
| Trade receivables | 40 | €351 | - | -€351 | |
| Other amounts receivable | 41 | €5,000 | €5,089 | +€89 | +1.8% |
| Cash at bank and in hand | 54/58 | €4,016 | €3,631 | -€385 | -9.6% |
| Deferred charges and accrued income | 490/1 | €69 | €760 | +€691 | +1,003% |
| Total equity and liabilities | 10/49 | €28,497 | €18,969 | -€9,528 | -33.4% |
| Equity | 10/15 | -€11,610 | -€16,301 | -€4,692 | -40.4% |
| Contributions | 10/11 | €12,287 | €12,287 | = | 0.0% |
| Contributions outside capital | 11 | €12,287 | €12,287 | = | 0.0% |
| Other | 1109/19 | €12,287 | €12,287 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,897 | -€28,588 | -€4,692 | -19.6% |
| Amounts payable | 17/49 | €40,107 | €35,271 | -€4,836 | -12.1% |
| Amounts payable after more than one year | 17 | €23,000 | €23,000 | = | 0.0% |
| Other amounts payable | 178/9 | €23,000 | €23,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €17,107 | €11,636 | -€5,471 | -32.0% |
| Trade debts | 44 | €9,320 | €4,285 | -€5,034 | -54.0% |
| Suppliers | 440/4 | €9,320 | €4,285 | -€5,034 | -54.0% |
| Taxes, remuneration and social security | 45 | €7,101 | €6,205 | -€897 | -12.6% |
| Taxes | 450/3 | €156 | €1,701 | +€1,545 | +991% |
| Remuneration and social security | 454/9 | €6,945 | €4,503 | -€2,442 | -35.2% |
| Other amounts payable | 47/48 | €686 | €1,146 | +€460 | +67.1% |
| Accrued charges and deferred income | 492/3 | - | €635 | +€635 | |
| Remuneration, social security and pensions | 62 | €44,842 | €46,032 | +€1,189 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,573 | €9,573 | = | 0.0% |
| Other operating charges | 640/8 | €460 | €1,136 | +€676 | +147% |
| Gross operating margin | 9900 | €45,574 | €52,392 | +€6,818 | +15.0% |
| Operating profit (loss) | 9901 | -€9,301 | -€4,348 | +€4,953 | +53.3% |
| Financial income | 75/76B | - | €41 | +€41 | |
| Recurring financial income | 75 | - | €41 | +€41 | |
| Financial charges | 65/66B | €440 | €385 | -€55 | -12.5% |
| Recurring financial charges | 65 | €440 | €385 | -€55 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,740 | -€4,692 | +€5,049 | +51.8% |
| Income taxes | 67/77 | -€49 | - | +€49 | |
| Profit (loss) for the period | 9904 | -€9,691 | -€4,692 | +€5,000 | +51.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,691 | -€4,692 | +€5,000 | +51.6% |
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 20 October 2026 via checked.be.