Hadrien: 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.
Hadrien
Largest movements
- Current investments -€700,000
down €700,000 (-43.8%), from €1.6m to €900,000
- Cash +€532,076
up €532,076 (+344%), from €154,712 to €686,788
mainly Current investments (+€700,000) and Net result for the year (+€385,854)
- Tangible fixed assets +€515,367
up €515,367 (+13.4%), from €3.8m to €4.4m
of which Land and buildings: +€533,147
- Receivables within one year +€164,369
up €164,369 (+39.4%), from €416,905 to €581,274
of which Trade receivables: +€155,015
- Debts after one year +€270,126
up €270,126 (+15.8%), from €1.7m to €2.0m
- Reserves +€170,428
up €170,428 (+5.0%), from €3.4m to €3.6m
- Gross operating margin -€265,899
down €265,899 (-23.8%), from €1.1m to €853,426
- Taxes -€72,806
down €72,806 (-29.8%), from €244,501 to €171,695
- Depreciation -€30,980
down €30,980 (-10.8%), from €286,686 to €255,706
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 | €6,095,946 | €6,596,520 | +€500,574 | +8.2% |
| Fixed assets | 21/28 | €3,847,554 | €4,362,921 | +€515,367 | +13.4% |
| Tangible fixed assets | 22/27 | €3,847,479 | €4,362,846 | +€515,367 | +13.4% |
| Land and buildings | 22 | €3,718,727 | €4,251,874 | +€533,147 | +14.3% |
| Plant, machinery and equipment | 23 | €6,769 | €8,267 | +€1,498 | +22.1% |
| Furniture and vehicles | 24 | €121,983 | €102,705 | -€19,278 | -15.8% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €2,248,392 | €2,233,599 | -€14,793 | -0.7% |
| Amounts receivable after more than one year | 29 | €74,125 | €63,499 | -€10,626 | -14.3% |
| Other amounts receivable | 291 | €74,125 | €63,499 | -€10,626 | -14.3% |
| Amounts receivable within one year | 40/41 | €416,905 | €581,274 | +€164,369 | +39.4% |
| Trade receivables | 40 | €129,331 | €284,346 | +€155,015 | +120% |
| Other amounts receivable | 41 | €287,574 | €296,928 | +€9,354 | +3.3% |
| Current investments | 50/53 | €1,600,000 | €900,000 | -€700,000 | -43.8% |
| Cash at bank and in hand | 54/58 | €154,712 | €686,788 | +€532,076 | +344% |
| Deferred charges and accrued income | 490/1 | €2,650 | €2,038 | -€612 | -23.1% |
| Total equity and liabilities | 10/49 | €6,095,946 | €6,596,520 | +€500,574 | +8.2% |
| Equity | 10/15 | €4,008,590 | €4,179,018 | +€170,428 | +4.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,407,278 | €3,577,706 | +€170,428 | +5.0% |
| Distributable reserves | 133 | €3,407,278 | €3,577,706 | +€170,428 | +5.0% |
| Profit (loss) carried forward | 14 | €588,912 | €588,912 | = | 0.0% |
| Amounts payable | 17/49 | €2,087,356 | €2,417,502 | +€330,146 | +15.8% |
| Amounts payable after more than one year | 17 | €1,708,316 | €1,978,442 | +€270,126 | +15.8% |
| Financial debts | 170/4 | €1,708,316 | €1,978,442 | +€270,126 | +15.8% |
| Amounts payable within one year | 42/48 | €379,040 | €439,060 | +€60,020 | +15.8% |
| Current portion of amounts payable after more than one year | 42 | €329,261 | €353,170 | +€23,909 | +7.3% |
| Trade debts | 44 | €16,841 | €52,825 | +€35,984 | +214% |
| Suppliers | 440/4 | €16,841 | €52,825 | +€35,984 | +214% |
| Taxes, remuneration and social security | 45 | €9,436 | €14,237 | +€4,801 | +50.9% |
| Taxes | 450/3 | €9,436 | €14,237 | +€4,801 | +50.9% |
| Other amounts payable | 47/48 | €23,502 | €18,828 | -€4,674 | -19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €286,686 | €255,706 | -€30,980 | -10.8% |
| Other operating charges | 640/8 | €21,549 | €12,334 | -€9,215 | -42.8% |
| Gross operating margin | 9900 | €1,119,325 | €853,426 | -€265,899 | -23.8% |
| Operating profit (loss) | 9901 | €811,090 | €585,386 | -€225,704 | -27.8% |
| Financial income | 75/76B | €22,594 | €29,890 | +€7,296 | +32.3% |
| Recurring financial income | 75 | €22,594 | €29,890 | +€7,296 | +32.3% |
| Financial charges | 65/66B | €49,622 | €57,727 | +€8,105 | +16.3% |
| Recurring financial charges | 65 | €49,622 | €57,727 | +€8,105 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €784,062 | €557,549 | -€226,513 | -28.9% |
| Income taxes | 67/77 | €244,501 | €171,695 | -€72,806 | -29.8% |
| Profit (loss) for the period | 9904 | €539,561 | €385,854 | -€153,707 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €539,561 | €385,854 | -€153,707 | -28.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.