Haex Tim: 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.
Haex Tim
Largest movements
- Cash +€20,638
up €20,638 (+44.8%), from €46,022 to €66,660
mainly Net result for the year (+€37,836) and Receivables within one year (+€12,317)
- Receivables within one year -€12,317
down €12,317 (-44.9%), from €27,421 to €15,103
of which Trade receivables: -€11,051
- Receivables after one year +€5,741
new in 2025: €5,741
- Tangible fixed assets +€1,570
up €1,570 (+5.9%), from €26,598 to €28,168
- Reserves +€37,836
up €37,836 (+58.4%), from €64,787 to €102,623
- Debts after one year -€13,962
down €13,962 (-100.0%), from €13,962 to €0
- Tax, wage and social debts -€6,313
down €6,313 (-32.4%), from €19,485 to €13,173
of which Taxes: -€6,313
- Gross operating margin -€31,797
down €31,797 (-35.1%), from €90,514 to €58,717
- Taxes -€6,915
down €6,915 (-41.1%), from €16,813 to €9,898
- Depreciation +€3,540
up €3,540 (+55.4%), from €6,390 to €9,930
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 | €100,086 | €116,226 | +€16,140 | +16.1% |
| Fixed assets | 21/28 | €26,598 | €28,168 | +€1,570 | +5.9% |
| Tangible fixed assets | 22/27 | €26,598 | €28,168 | +€1,570 | +5.9% |
| Furniture and vehicles | 24 | €26,598 | €28,168 | +€1,570 | +5.9% |
| Current assets | 29/58 | €73,489 | €88,058 | +€14,570 | +19.8% |
| Amounts receivable after more than one year | 29 | - | €5,741 | +€5,741 | |
| Other amounts receivable | 291 | - | €5,741 | +€5,741 | |
| Stocks and contracts in progress | 3 | - | €465 | +€465 | |
| Stocks | 30/36 | - | €465 | +€465 | |
| Amounts receivable within one year | 40/41 | €27,421 | €15,103 | -€12,317 | -44.9% |
| Trade receivables | 40 | €25,521 | €14,469 | -€11,051 | -43.3% |
| Other amounts receivable | 41 | €1,900 | €634 | -€1,266 | -66.6% |
| Cash at bank and in hand | 54/58 | €46,022 | €66,660 | +€20,638 | +44.8% |
| Deferred charges and accrued income | 490/1 | €46 | €89 | +€44 | +95.1% |
| Total equity and liabilities | 10/49 | €100,086 | €116,226 | +€16,140 | +16.1% |
| Equity | 10/15 | €64,788 | €102,624 | +€37,836 | +58.4% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €64,787 | €102,623 | +€37,836 | +58.4% |
| Distributable reserves | 133 | €64,787 | €102,623 | +€37,836 | +58.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €35,298 | €13,602 | -€21,696 | -61.5% |
| Amounts payable after more than one year | 17 | €13,962 | €0 | -€13,962 | -100.0% |
| Other amounts payable | 178/9 | €13,962 | €0 | -€13,962 | -100.0% |
| Amounts payable within one year | 42/48 | €21,336 | €13,602 | -€7,734 | -36.2% |
| Trade debts | 44 | €1,250 | €429 | -€821 | -65.7% |
| Suppliers | 440/4 | €1,250 | €429 | -€821 | -65.7% |
| Taxes, remuneration and social security | 45 | €19,485 | €13,173 | -€6,313 | -32.4% |
| Taxes | 450/3 | €17,085 | €10,773 | -€6,313 | -36.9% |
| Remuneration and social security | 454/9 | €2,400 | €2,400 | = | 0.0% |
| Other amounts payable | 47/48 | €601 | €0 | -€601 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,390 | €9,930 | +€3,540 | +55.4% |
| Other operating charges | 640/8 | €1,619 | €950 | -€668 | -41.3% |
| Gross operating margin | 9900 | €90,514 | €58,717 | -€31,797 | -35.1% |
| Operating profit (loss) | 9901 | €82,505 | €47,837 | -€34,669 | -42.0% |
| Financial income | 75/76B | €0 | €19 | +€19 | +23950.0% |
| Recurring financial income | 75 | €0 | €19 | +€19 | +23950.0% |
| Financial charges | 65/66B | €47 | €121 | +€75 | +161.0% |
| Recurring financial charges | 65 | €47 | €121 | +€75 | +161.0% |
| Profit (loss) for the period before taxes | 9903 | €82,459 | €47,735 | -€34,724 | -42.1% |
| Income taxes | 67/77 | €16,813 | €9,898 | -€6,915 | -41.1% |
| Profit (loss) for the period | 9904 | €65,646 | €37,836 | -€27,810 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,646 | €37,836 | -€27,810 | -42.4% |
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 8 October 2026 via checked.be.