Hagima: 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.
Hagima
Largest movements
- Tangible fixed assets +€3.5m
up €3.5m (+912.4%), from €384,554 to €3.9m
- Receivables within one year -€459,696
down €459,696 (-23.8%), from €1.9m to €1.5m
of which Other amounts receivable: -€473,198
- Revaluation surpluses +€3.6m
new in 2025: €3.6m
- Other debts -€629,702
down €629,702 (-77.4%), from €813,809 to €184,107
- Trade debts +€117,711
up €117,711 (+4625.7%), from €2,545 to €120,256
- Gross operating margin -€87,899
down €87,899 (-18.2%), from €482,151 to €394,252
- Taxes -€23,655
down €23,655 (-26.1%), from €90,675 to €67,019
- Depreciation -€22,536
down €22,536 (-19.8%), from €113,697 to €91,161
- Financial income -€14,291
down €14,291 (-48.5%), from €29,440 to €15,149
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 | €2,342,715 | €5,406,657 | +€3.1m | +130.8% |
| Fixed assets | 21/28 | €384,996 | €3,893,486 | +€3.5m | +911.3% |
| Tangible fixed assets | 22/27 | €384,554 | €3,893,043 | +€3.5m | +912.4% |
| Land and buildings | 22 | €384,554 | €3,893,043 | +€3.5m | +912.4% |
| Financial fixed assets | 28 | €443 | €443 | = | 0.0% |
| Current assets | 29/58 | €1,957,719 | €1,513,172 | -€444,547 | -22.7% |
| Amounts receivable within one year | 40/41 | €1,928,279 | €1,468,583 | -€459,696 | -23.8% |
| Trade receivables | 40 | €175,821 | €189,323 | +€13,502 | +7.7% |
| Other amounts receivable | 41 | €1,752,458 | €1,279,260 | -€473,198 | -27.0% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €29,440 | €44,589 | +€15,149 | +51.5% |
| Total equity and liabilities | 10/49 | €2,342,715 | €5,406,657 | +€3.1m | +130.8% |
| Equity | 10/15 | €1,435,625 | €5,035,275 | +€3.6m | +250.7% |
| Contributions | 10/11 | €1,305,111 | €1,305,111 | = | 0.0% |
| Capital | 10 | €1,305,111 | €1,305,111 | = | 0.0% |
| Issued capital | 100 | €1,305,111 | €1,305,111 | = | 0.0% |
| Revaluation surpluses | 12 | - | €3,599,650 | +€3.6m | |
| Reserves | 13 | €130,514 | €130,514 | = | 0.0% |
| Non-distributable reserves | 130/1 | €130,514 | €130,514 | = | 0.0% |
| Legal reserve | 130 | €130,511 | €130,511 | = | 0.0% |
| Other | 1319 | €3 | €3 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €907,090 | €371,382 | -€535,708 | -59.1% |
| Amounts payable within one year | 42/48 | €907,090 | €371,382 | -€535,708 | -59.1% |
| Trade debts | 44 | €2,545 | €120,256 | +€117,711 | +4625.7% |
| Suppliers | 440/4 | €2,545 | €120,256 | +€117,711 | +4625.7% |
| Taxes, remuneration and social security | 45 | €90,737 | €67,019 | -€23,717 | -26.1% |
| Taxes | 450/3 | €90,737 | €67,019 | -€23,717 | -26.1% |
| Other amounts payable | 47/48 | €813,809 | €184,107 | -€629,702 | -77.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,697 | €91,161 | -€22,536 | -19.8% |
| Other operating charges | 640/8 | €64,000 | €66,006 | +€2,006 | +3.1% |
| Gross operating margin | 9900 | €482,151 | €394,252 | -€87,899 | -18.2% |
| Operating profit (loss) | 9901 | €304,454 | €237,084 | -€67,370 | -22.1% |
| Financial income | 75/76B | €29,440 | €15,149 | -€14,291 | -48.5% |
| Recurring financial income | 75 | €29,440 | €15,149 | -€14,291 | -48.5% |
| Financial charges | 65/66B | €1,142 | €1,107 | -€35 | -3.1% |
| Recurring financial charges | 65 | €1,142 | €1,107 | -€35 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €332,752 | €251,126 | -€81,625 | -24.5% |
| Income taxes | 67/77 | €90,675 | €67,019 | -€23,655 | -26.1% |
| Profit (loss) for the period | 9904 | €242,077 | €184,107 | -€57,970 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €242,077 | €184,107 | -€57,970 | -23.9% |
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 4 October 2026 via checked.be.