HAESEPAT: 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.
HAESEPAT
Largest movements
- Tangible fixed assets +€355,148
up €355,148 (+35.5%), from €1.0m to €1.4m
- Current investments -€323,295
down €323,295 (-36.3%), from €889,579 to €566,284
- Cash -€59,835
down €59,835 (-77.5%), from €77,189 to €17,354
mainly Investment in fixed assets (net) (-€421,475) and Net result for the year (-€26,982)
- Reserves -€26,982
down €26,982 (-1.4%), from €1.9m to €1.8m
of which Distributable reserves: -€21,297
- Financial income +€57,801
up €57,801 (+1,413%), from €4,092 to €61,892
- Depreciation +€44,933
up €44,933 (+210%), from €21,393 to €66,326
- Gross operating margin -€16,237
down €16,237 (-460%), from -€3,533 to -€19,770
- Other operating charges -€1,628
down €1,628 (-37.5%), from €4,343 to €2,715
- Taxes -€380
down €380, from €368 to -€12
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 | €1,969,778 | €1,946,145 | -€23,633 | -1.2% |
| Fixed assets | 21/28 | €1,000,235 | €1,355,384 | +€355,148 | +35.5% |
| Tangible fixed assets | 22/27 | €1,000,235 | €1,355,384 | +€355,148 | +35.5% |
| Land and buildings | 22 | €1,000,235 | €1,355,384 | +€355,148 | +35.5% |
| Current assets | 29/58 | €969,543 | €590,762 | -€378,781 | -39.1% |
| Amounts receivable within one year | 40/41 | €850 | €4,877 | +€4,027 | +474% |
| Other amounts receivable | 41 | €850 | €4,877 | +€4,027 | +474% |
| Current investments | 50/53 | €889,579 | €566,284 | -€323,295 | -36.3% |
| Cash at bank and in hand | 54/58 | €77,189 | €17,354 | -€59,835 | -77.5% |
| Deferred charges and accrued income | 490/1 | €1,924 | €2,246 | +€322 | +16.8% |
| Total equity and liabilities | 10/49 | €1,969,778 | €1,946,145 | -€23,633 | -1.2% |
| Equity | 10/15 | €1,957,560 | €1,930,578 | -€26,982 | -1.4% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €1,872,560 | €1,845,578 | -€26,982 | -1.4% |
| Tax-exempt reserves | 132 | €500,619 | €494,934 | -€5,685 | -1.1% |
| Distributable reserves | 133 | €1,371,941 | €1,350,644 | -€21,297 | -1.6% |
| Amounts payable | 17/49 | €12,218 | €15,568 | +€3,349 | +27.4% |
| Amounts payable within one year | 42/48 | €12,218 | €15,568 | +€3,349 | +27.4% |
| Trade debts | 44 | €5,307 | €12,174 | +€6,867 | +129% |
| Suppliers | 440/4 | €5,307 | €12,174 | +€6,867 | +129% |
| Other amounts payable | 47/48 | €6,912 | €3,394 | -€3,518 | -50.9% |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,393 | €66,326 | +€44,933 | +210% |
| Other operating charges | 640/8 | €4,343 | €2,715 | -€1,628 | -37.5% |
| Gross operating margin | 9900 | -€3,533 | -€19,770 | -€16,237 | -460% |
| Operating profit (loss) | 9901 | -€29,270 | -€88,811 | -€59,542 | -203% |
| Financial income | 75/76B | €4,092 | €61,892 | +€57,801 | +1,413% |
| Recurring financial income | 75 | €4,092 | €61,892 | +€57,801 | +1,413% |
| Financial charges | 65/66B | €75 | €75 | = | 0.0% |
| Recurring financial charges | 65 | €75 | €75 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,253 | -€26,994 | -€1,741 | -6.9% |
| Income taxes | 67/77 | €368 | -€12 | -€380 | |
| Profit (loss) for the period | 9904 | -€25,621 | -€26,982 | -€1,361 | -5.3% |
| Transfer from tax-exempt reserves | 789 | €5,685 | €5,685 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,936 | -€21,297 | -€1,361 | -6.8% |
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 24 October 2026 via checked.be.