HaDuWeld: 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.
HaDuWeld
Largest movements
- Tangible fixed assets -€15,415
down €15,415 (-26.8%), from €57,425 to €42,009
of which Leasing and similar rights: -€10,166
- Receivables within one year +€11,551
up €11,551 (+90.2%), from €12,801 to €24,353
of which Trade receivables: +€11,298
- Cash -€10,274
down €10,274 (-56.7%), from €18,123 to €7,849
mainly Contributions, distributions and other (-€12,000) and Receivables within one year (-€11,551)
- Debts after one year -€8,814
down €8,814 (-24.9%), from €35,370 to €26,556
- Tax, wage and social debts -€3,853
down €3,853 (-42.8%), from €9,000 to €5,146
- Current portion of long-term debt -€1,410
down €1,410 (-13.8%), from €10,224 to €8,814
- Trade debts +€964
up €964 (+47.8%), from €2,018 to €2,982
- Gross operating margin +€13,974
up €13,974 (+61.3%), from €22,802 to €36,776
- Taxes +€3,574
up €3,574 (+192.5%), from €1,856 to €5,430
- Financial charges +€1,440
up €1,440 (+74.1%), from €1,943 to €3,383
- Depreciation +€1,383
up €1,383 (+9.9%), from €14,033 to €15,415
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 | €89,673 | €76,359 | -€13,315 | -14.8% |
| Fixed assets | 21/28 | €57,425 | €42,009 | -€15,415 | -26.8% |
| Tangible fixed assets | 22/27 | €57,425 | €42,009 | -€15,415 | -26.8% |
| Plant, machinery and equipment | 23 | €18,170 | €13,248 | -€4,922 | -27.1% |
| Furniture and vehicles | 24 | €327 | €0 | -€327 | -100.0% |
| Leasing and similar rights | 25 | €38,927 | €28,761 | -€10,166 | -26.1% |
| Current assets | 29/58 | €32,249 | €34,349 | +€2,101 | +6.5% |
| Amounts receivable within one year | 40/41 | €12,801 | €24,353 | +€11,551 | +90.2% |
| Trade receivables | 40 | €12,157 | €23,455 | +€11,298 | +92.9% |
| Other amounts receivable | 41 | €644 | €897 | +€253 | +39.3% |
| Cash at bank and in hand | 54/58 | €18,123 | €7,849 | -€10,274 | -56.7% |
| Deferred charges and accrued income | 490/1 | €1,325 | €2,148 | +€823 | +62.1% |
| Total equity and liabilities | 10/49 | €89,673 | €76,359 | -€13,315 | -14.8% |
| Equity | 10/15 | €32,710 | €32,861 | +€151 | +0.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,710 | €27,861 | +€151 | +0.5% |
| Distributable reserves | 133 | €27,710 | €27,861 | +€151 | +0.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €56,963 | €43,498 | -€13,465 | -23.6% |
| Amounts payable after more than one year | 17 | €35,370 | €26,556 | -€8,814 | -24.9% |
| Financial debts | 170/4 | €35,370 | €26,556 | -€8,814 | -24.9% |
| Amounts payable within one year | 42/48 | €21,593 | €16,942 | -€4,651 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €10,224 | €8,814 | -€1,410 | -13.8% |
| Trade debts | 44 | €2,018 | €2,982 | +€964 | +47.8% |
| Suppliers | 440/4 | €2,018 | €2,982 | +€964 | +47.8% |
| Taxes, remuneration and social security | 45 | €9,000 | €5,146 | -€3,853 | -42.8% |
| Taxes | 450/3 | €9,000 | €5,146 | -€3,853 | -42.8% |
| Other amounts payable | 47/48 | €352 | €0 | -€352 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,033 | €15,415 | +€1,383 | +9.9% |
| Other operating charges | 640/8 | €430 | €472 | +€42 | +9.8% |
| Gross operating margin | 9900 | €22,802 | €36,776 | +€13,974 | +61.3% |
| Operating profit (loss) | 9901 | €8,339 | €20,888 | +€12,549 | +150.5% |
| Financial income | 75/76B | - | €75 | +€75 | |
| Recurring financial income | 75 | - | €75 | +€75 | |
| Financial charges | 65/66B | €1,943 | €3,383 | +€1,440 | +74.1% |
| Recurring financial charges | 65 | €1,943 | €3,383 | +€1,440 | +74.1% |
| Profit (loss) for the period before taxes | 9903 | €6,396 | €17,580 | +€11,184 | +174.9% |
| Income taxes | 67/77 | €1,856 | €5,430 | +€3,574 | +192.5% |
| Profit (loss) for the period | 9904 | €4,540 | €12,151 | +€7,611 | +167.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,540 | €12,151 | +€7,611 | +167.6% |
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 5 October 2026 via checked.be.