HAEGEMAN MARC: 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.
HAEGEMAN MARC
Largest movements
- Receivables within one year -€50,899
down €50,899 (-53.6%), from €95,045 to €44,146
of which Other amounts receivable: -€43,910
- Stocks and contracts +€17,270
up €17,270 (+34.1%), from €50,685 to €67,955
- Cash +€7,125
up €7,125 (+23.2%), from €30,646 to €37,770
mainly Receivables within one year (+€50,899) and Net result for the year (+€16,841)
- Tangible fixed assets -€6,306
down €6,306 (-10.5%), from €59,937 to €53,631
of which Land and buildings: -€6,700
- Deferred charges and accrued income +€3,441
up €3,441 (+307%), from €1,120 to €4,561
- Other debts -€13,398
down €13,398 (-28.4%), from €47,243 to €33,845
- Reserves -€10,988
down €10,988 (-8.8%), from €125,355 to €114,367
- Tax, wage and social debts -€8,874
down €8,874 (-80.6%), from €11,007 to €2,133
of which Taxes: -€8,874
- Trade debts +€5,047
up €5,047 (+36.3%), from €13,892 to €18,938
- Write-downs -€20,862
down €20,862 (-100%), from €20,862 to €0
- Gross operating margin -€16,167
down €16,167 (-15.0%), from €107,984 to €91,816
- Financial income -€4,515
down €4,515 (-81.8%), from €5,520 to €1,005
- Taxes +€2,115
up €2,115 (+35.3%), from €5,997 to €8,112
- Other operating charges -€1,617
down €1,617 (-42.2%), from €3,834 to €2,217
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 | €238,652 | €209,283 | -€29,369 | -12.3% |
| Fixed assets | 21/28 | €61,157 | €54,851 | -€6,306 | -10.3% |
| Tangible fixed assets | 22/27 | €59,937 | €53,631 | -€6,306 | -10.5% |
| Land and buildings | 22 | €53,087 | €46,387 | -€6,700 | -12.6% |
| Plant, machinery and equipment | 23 | €4,450 | €3,019 | -€1,431 | -32.2% |
| Furniture and vehicles | 24 | €2,400 | €4,225 | +€1,825 | +76.1% |
| Financial fixed assets | 28 | €1,220 | €1,220 | = | 0.0% |
| Current assets | 29/58 | €177,495 | €154,432 | -€23,063 | -13.0% |
| Stocks and contracts in progress | 3 | €50,685 | €67,955 | +€17,270 | +34.1% |
| Stocks | 30/36 | €50,685 | €67,955 | +€17,270 | +34.1% |
| Amounts receivable within one year | 40/41 | €95,045 | €44,146 | -€50,899 | -53.6% |
| Trade receivables | 40 | €45,334 | €38,345 | -€6,989 | -15.4% |
| Other amounts receivable | 41 | €49,711 | €5,801 | -€43,910 | -88.3% |
| Cash at bank and in hand | 54/58 | €30,646 | €37,770 | +€7,125 | +23.2% |
| Deferred charges and accrued income | 490/1 | €1,120 | €4,561 | +€3,441 | +307% |
| Total equity and liabilities | 10/49 | €238,652 | €209,283 | -€29,369 | -12.3% |
| Equity | 10/15 | €165,355 | €154,367 | -€10,988 | -6.6% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €125,355 | €114,367 | -€10,988 | -8.8% |
| Distributable reserves | 133 | €125,355 | €114,367 | -€10,988 | -8.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €73,297 | €54,916 | -€18,381 | -25.1% |
| Amounts payable within one year | 42/48 | €73,297 | €54,916 | -€18,381 | -25.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €13,892 | €18,938 | +€5,047 | +36.3% |
| Suppliers | 440/4 | €13,892 | €18,938 | +€5,047 | +36.3% |
| Advances received on contracts in progress | 46 | €1,155 | €0 | -€1,155 | -100% |
| Taxes, remuneration and social security | 45 | €11,007 | €2,133 | -€8,874 | -80.6% |
| Taxes | 450/3 | €11,007 | €2,133 | -€8,874 | -80.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €47,243 | €33,845 | -€13,398 | -28.4% |
| Remuneration, social security and pensions | 62 | €52,184 | €50,669 | -€1,515 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,222 | €14,180 | +€958 | +7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,862 | €0 | -€20,862 | -100% |
| Other operating charges | 640/8 | €3,834 | €2,217 | -€1,617 | -42.2% |
| Gross operating margin | 9900 | €107,984 | €91,816 | -€16,167 | -15.0% |
| Operating profit (loss) | 9901 | €17,882 | €24,751 | +€6,869 | +38.4% |
| Financial income | 75/76B | €5,520 | €1,005 | -€4,515 | -81.8% |
| Recurring financial income | 75 | €5,520 | €1,005 | -€4,515 | -81.8% |
| Financial charges | 65/66B | €1,896 | €803 | -€1,092 | -57.6% |
| Recurring financial charges | 65 | €1,896 | €803 | -€1,092 | -57.6% |
| Profit (loss) for the period before taxes | 9903 | €21,507 | €24,953 | +€3,446 | +16.0% |
| Income taxes | 67/77 | €5,997 | €8,112 | +€2,115 | +35.3% |
| Profit (loss) for the period | 9904 | €15,509 | €16,841 | +€1,331 | +8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,509 | €16,841 | +€1,331 | +8.6% |
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 1 November 2026 via checked.be.