HAESAERT: 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.
HAESAERT
Largest movements
- Cash +€206,530
up €206,530 (+70.4%), from €293,335 to €499,865
mainly Current investments (+€200,000) and Net result for the year (+€118,110)
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Receivables within one year -€43,903
down €43,903 (-15.3%), from €286,583 to €242,681
of which Trade receivables: -€38,495
- Tangible fixed assets -€24,900
down €24,900 (-62.8%), from €39,656 to €14,755
of which Furniture and vehicles: -€19,292
- Reserves +€118,100
up €118,100 (+33.7%), from €350,833 to €468,933
of which Distributable reserves: +€118,100
- Trade debts -€113,201
down €113,201 (-77.9%), from €145,397 to €32,195
- Other debts -€85,895
down €85,895 (-92.1%), from €93,270 to €7,375
- Tax, wage and social debts +€12,306
up €12,306 (+120%), from €10,252 to €22,558
of which Taxes: +€13,862
- Gross operating margin +€123,655
up €123,655 (+73.5%), from €168,144 to €291,799
- Taxes +€36,629
up €36,629 (+274%), from €13,363 to €49,992
- Write-downs -€16,970
down €16,970, from €10,128 to -€6,843
- Other operating charges +€11,771
up €11,771 (+486%), from €2,423 to €14,194
- Staff costs +€10,654
up €10,654 (+13.6%), from €78,051 to €88,705
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 | €841,039 | €772,341 | -€68,698 | -8.2% |
| Fixed assets | 21/28 | €39,656 | €14,755 | -€24,900 | -62.8% |
| Tangible fixed assets | 22/27 | €39,656 | €14,755 | -€24,900 | -62.8% |
| Plant, machinery and equipment | 23 | €8,311 | €6,782 | -€1,529 | -18.4% |
| Furniture and vehicles | 24 | €20,957 | €1,665 | -€19,292 | -92.1% |
| Other tangible fixed assets | 26 | €10,388 | €6,309 | -€4,079 | -39.3% |
| Current assets | 29/58 | €801,384 | €757,586 | -€43,798 | -5.5% |
| Stocks and contracts in progress | 3 | €13,107 | €9,795 | -€3,313 | -25.3% |
| Stocks | 30/36 | €13,107 | €9,795 | -€3,313 | -25.3% |
| Amounts receivable within one year | 40/41 | €286,583 | €242,681 | -€43,903 | -15.3% |
| Trade receivables | 40 | €278,284 | €239,789 | -€38,495 | -13.8% |
| Other amounts receivable | 41 | €8,299 | €2,891 | -€5,408 | -65.2% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €293,335 | €499,865 | +€206,530 | +70.4% |
| Deferred charges and accrued income | 490/1 | €8,358 | €5,246 | -€3,112 | -37.2% |
| Total equity and liabilities | 10/49 | €841,039 | €772,341 | -€68,698 | -8.2% |
| Equity | 10/15 | €413,122 | €531,232 | +€118,110 | +28.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €350,833 | €468,933 | +€118,100 | +33.7% |
| Non-distributable reserves | 130/1 | €13,200 | €13,200 | = | 0.0% |
| Legal reserve | 130 | €13,200 | €13,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,790 | €18,790 | = | 0.0% |
| Distributable reserves | 133 | €318,843 | €436,943 | +€118,100 | +37.0% |
| Profit (loss) carried forward | 14 | €289 | €299 | +€10 | +3.5% |
| Amounts payable | 17/49 | €427,917 | €241,108 | -€186,808 | -43.7% |
| Amounts payable after more than one year | 17 | €175,000 | €175,000 | = | 0.0% |
| Other amounts payable | 178/9 | €175,000 | €175,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €249,417 | €62,608 | -€186,808 | -74.9% |
| Trade debts | 44 | €145,397 | €32,195 | -€113,201 | -77.9% |
| Suppliers | 440/4 | €145,397 | €32,195 | -€113,201 | -77.9% |
| Advances received on contracts in progress | 46 | €498 | €480 | -€18 | -3.6% |
| Taxes, remuneration and social security | 45 | €10,252 | €22,558 | +€12,306 | +120% |
| Taxes | 450/3 | €3,129 | €16,990 | +€13,862 | +443% |
| Remuneration and social security | 454/9 | €7,123 | €5,568 | -€1,556 | -21.8% |
| Other amounts payable | 47/48 | €93,270 | €7,375 | -€85,895 | -92.1% |
| Accrued charges and deferred income | 492/3 | €3,500 | €3,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €78,051 | €88,705 | +€10,654 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,899 | €24,900 | -€1,999 | -7.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,128 | -€6,843 | -€16,970 | |
| Other operating charges | 640/8 | €2,423 | €14,194 | +€11,771 | +486% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €168,144 | €291,799 | +€123,655 | +73.5% |
| Operating profit (loss) | 9901 | €50,643 | €170,843 | +€120,200 | +237% |
| Financial income | 75/76B | €4,500 | €4,587 | +€87 | +1.9% |
| Recurring financial income | 75 | €4,500 | €4,587 | +€87 | +1.9% |
| Financial charges | 65/66B | €7,321 | €7,328 | +€7 | +0.1% |
| Recurring financial charges | 65 | €7,321 | €7,328 | +€7 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €47,822 | €168,102 | +€120,280 | +252% |
| Income taxes | 67/77 | €13,363 | €49,992 | +€36,629 | +274% |
| Profit (loss) for the period | 9904 | €34,459 | €118,110 | +€83,651 | +243% |
| Profit (loss) for the period to be appropriated | 9905 | €34,459 | €118,110 | +€83,651 | +243% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.