HAESEN G.: 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.
HAESEN G.
Largest movements
- Tangible fixed assets -€23,975
down €23,975 (-6.1%), from €390,574 to €366,600
of which Plant, machinery and equipment: -€15,369
- Receivables within one year +€6,768
up €6,768 (+26.7%), from €25,364 to €32,132
of which Trade receivables: +€7,344
- Deferred charges and accrued income +€6,534
up €6,534 (+114%), from €5,724 to €12,258
- Debts after one year -€20,164
down €20,164 (-7.7%), from €261,728 to €241,564
of which Financial debts: -€20,164
- Reserves +€13,659
up €13,659 (+12.4%), from €110,517 to €124,177
- Other debts -€8,855
down €8,855 (-39.6%), from €22,356 to €13,501
- Profit (loss) carried forward +€6,566
no longer reported in 2025 (was -€6,566)
- Trade debts +€6,480
up €6,480 (+7.4%), from €88,133 to €94,613
- Gross operating margin +€21,171
up €21,171 (+8.8%), from €241,223 to €262,393
- Staff costs +€14,073
up €14,073 (+9.3%), from €150,929 to €165,002
- Write-downs +€12,234
up €12,234, from -€2,385 to €9,849
- Other operating charges -€6,957
down €6,957 (-34.0%), from €20,454 to €13,497
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 | €556,510 | €544,648 | -€11,861 | -2.1% |
| Fixed assets | 21/28 | €391,554 | €366,600 | -€24,955 | -6.4% |
| Tangible fixed assets | 22/27 | €390,574 | €366,600 | -€23,975 | -6.1% |
| Land and buildings | 22 | €357,345 | €348,577 | -€8,768 | -2.5% |
| Plant, machinery and equipment | 23 | €29,368 | €13,999 | -€15,369 | -52.3% |
| Furniture and vehicles | 24 | €3,861 | €4,024 | +€162 | +4.2% |
| Financial fixed assets | 28 | €980 | - | -€980 | |
| Current assets | 29/58 | €164,955 | €178,049 | +€13,093 | +7.9% |
| Stocks and contracts in progress | 3 | €126,290 | €121,641 | -€4,650 | -3.7% |
| Stocks | 30/36 | €126,290 | €121,641 | -€4,650 | -3.7% |
| Amounts receivable within one year | 40/41 | €25,364 | €32,132 | +€6,768 | +26.7% |
| Trade receivables | 40 | €14,250 | €21,594 | +€7,344 | +51.5% |
| Other amounts receivable | 41 | €11,115 | €10,539 | -€576 | -5.2% |
| Cash at bank and in hand | 54/58 | €7,577 | €12,018 | +€4,440 | +58.6% |
| Deferred charges and accrued income | 490/1 | €5,724 | €12,258 | +€6,534 | +114% |
| Total equity and liabilities | 10/49 | €556,510 | €544,648 | -€11,861 | -2.1% |
| Equity | 10/15 | €122,551 | €142,777 | +€20,225 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €110,517 | €124,177 | +€13,659 | +12.4% |
| Distributable reserves | 133 | €110,517 | €124,177 | +€13,659 | +12.4% |
| Profit (loss) carried forward | 14 | -€6,566 | - | +€6,566 | |
| Amounts payable | 17/49 | €433,958 | €401,872 | -€32,087 | -7.4% |
| Amounts payable after more than one year | 17 | €261,728 | €241,564 | -€20,164 | -7.7% |
| Financial debts | 170/4 | €175,728 | €155,564 | -€20,164 | -11.5% |
| Other amounts payable | 178/9 | €86,000 | €86,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €165,921 | €160,115 | -€5,806 | -3.5% |
| Current portion of amounts payable after more than one year | 42 | €21,634 | €20,164 | -€1,470 | -6.8% |
| Financial debts | 43 | €5,884 | €5,877 | -€6 | -0.1% |
| Credit institutions | 430/8 | €5,884 | €5,877 | -€6 | -0.1% |
| Trade debts | 44 | €88,133 | €94,613 | +€6,480 | +7.4% |
| Suppliers | 440/4 | €88,133 | €94,613 | +€6,480 | +7.4% |
| Taxes, remuneration and social security | 45 | €27,913 | €25,959 | -€1,955 | -7.0% |
| Taxes | 450/3 | €19,511 | €16,958 | -€2,553 | -13.1% |
| Remuneration and social security | 454/9 | €8,402 | €9,001 | +€599 | +7.1% |
| Other amounts payable | 47/48 | €22,356 | €13,501 | -€8,855 | -39.6% |
| Accrued charges and deferred income | 492/3 | €6,310 | €193 | -€6,116 | -96.9% |
| Remuneration, social security and pensions | 62 | €150,929 | €165,002 | +€14,073 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,209 | €26,204 | -€5 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,385 | €9,849 | +€12,234 | |
| Other operating charges | 640/8 | €20,454 | €13,497 | -€6,957 | -34.0% |
| Gross operating margin | 9900 | €241,223 | €262,393 | +€21,171 | +8.8% |
| Operating profit (loss) | 9901 | €46,017 | €47,842 | +€1,825 | +4.0% |
| Financial income | 75/76B | €431 | - | -€431 | |
| Recurring financial income | 75 | €431 | - | -€431 | |
| Financial charges | 65/66B | €10,501 | €12,820 | +€2,319 | +22.1% |
| Recurring financial charges | 65 | €10,501 | €12,820 | +€2,319 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €35,947 | €35,022 | -€925 | -2.6% |
| Income taxes | 67/77 | €13,698 | €13,129 | -€569 | -4.2% |
| Profit (loss) for the period | 9904 | €22,248 | €21,893 | -€355 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,248 | €21,893 | -€355 | -1.6% |
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 28 October 2026 via checked.be.