HAGIMMO: 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.
What changed
HAGIMMO
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€32,409
2024 · €37,135-€4,726
Equity
€376,067
2024 · €379,658-€3,591
Cash
€69,019
2024 · €75,124-€6,104
Balance sheet total
€651,286
2024 · €645,532+€5,754
Largest movements
Assets
- Tangible fixed assets +€10,321
up €10,321 (+2.2%), from €463,490 to €473,811
of which Other tangible fixed assets: +€11,658
Equity and liabilities
- Debts after one year +€20,605
up €20,605 (+9.1%), from €226,335 to €246,940
- Trade debts -€11,868
down €11,868 (-91.9%), from €12,907 to €1,040
Income statement
- Depreciation +€3,652
up €3,652 (+11.6%), from €31,539 to €35,191
- Gross operating margin -€1,975
down €1,975 (-2.1%), from €95,700 to €93,726
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.
Result 2024
€37,135
Gross operating margin
-€1,975
Depreciation
-€3,652
Other operating charges
-€464
Other operating items
+€109
Financial income
+€446
Financial charges
-€113
Taxes
+€923
Result 2025
€32,409
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€54,594
Investment
-€45,911
Financing
-€14,788
Cash 2024
€75,124
From operations (derived)
+€54,594
Net result for the year
+€32,409
Depreciation
+€35,191
Receivables within one year
-€1,057
Deferred charges and accrued income
-€81
Trade debts
-€11,868
Investment (derived)
-€45,911
Investment in fixed assets (net)
-€45,512
Current investments
-€399
Financing
-€14,788
Debts after one year
+€20,605
Current portion of long-term debt
+€608
Contributions, distributions and other
-€36,000
Cash 2025
€69,019
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €645,532 | €651,286 | +€5,754 | +0.9% |
| Fixed assets | 21/28 | €463,490 | €473,811 | +€10,321 | +2.2% |
| Tangible fixed assets | 22/27 | €463,490 | €473,811 | +€10,321 | +2.2% |
| Plant, machinery and equipment | 23 | €5,808 | €5,031 | -€778 | -13.4% |
| Furniture and vehicles | 24 | €1,274 | €715 | -€559 | -43.9% |
| Other tangible fixed assets | 26 | €456,408 | €468,065 | +€11,658 | +2.6% |
| Current assets | 29/58 | €182,042 | €177,475 | -€4,567 | -2.5% |
| Amounts receivable within one year | 40/41 | €1,529 | €2,586 | +€1,057 | +69.1% |
| Other amounts receivable | 41 | €1,529 | €2,586 | +€1,057 | +69.1% |
| Current investments | 50/53 | €102,629 | €103,028 | +€399 | +0.4% |
| Cash at bank and in hand | 54/58 | €75,124 | €69,019 | -€6,104 | -8.1% |
| Deferred charges and accrued income | 490/1 | €2,760 | €2,841 | +€81 | +3.0% |
| Total equity and liabilities | 10/49 | €645,532 | €651,286 | +€5,754 | +0.9% |
| Equity | 10/15 | €379,658 | €376,067 | -€3,591 | -0.9% |
| Contributions | 10/11 | €52,470 | €52,470 | = | 0.0% |
| Reserves | 13 | €327,188 | €323,597 | -€3,591 | -1.1% |
| Distributable reserves | 133 | €327,188 | €323,597 | -€3,591 | -1.1% |
| Amounts payable | 17/49 | €265,874 | €275,219 | +€9,345 | +3.5% |
| Amounts payable after more than one year | 17 | €226,335 | €246,940 | +€20,605 | +9.1% |
| Financial debts | 170/4 | €226,335 | €246,940 | +€20,605 | +9.1% |
| Amounts payable within one year | 42/48 | €37,896 | €26,636 | -€11,260 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €24,988 | €25,596 | +€608 | +2.4% |
| Trade debts | 44 | €12,907 | €1,040 | -€11,868 | -91.9% |
| Suppliers | 440/4 | €12,907 | €1,040 | -€11,868 | -91.9% |
| Accrued charges and deferred income | 492/3 | €1,643 | €1,643 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,539 | €35,191 | +€3,652 | +11.6% |
| Other operating charges | 640/8 | €5,551 | €6,014 | +€464 | +8.4% |
| Non-recurring operating charges | 66A | €109 | - | -€109 | |
| Gross operating margin | 9900 | €95,700 | €93,726 | -€1,975 | -2.1% |
| Operating profit (loss) | 9901 | €58,502 | €52,520 | -€5,982 | -10.2% |
| Financial income | 75/76B | €124 | €570 | +€446 | +361% |
| Recurring financial income | 75 | €124 | €570 | +€446 | +361% |
| Financial charges | 65/66B | €6,961 | €7,073 | +€113 | +1.6% |
| Recurring financial charges | 65 | €6,961 | €7,073 | +€113 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €51,665 | €46,016 | -€5,649 | -10.9% |
| Income taxes | 67/77 | €14,530 | €13,607 | -€923 | -6.4% |
| Profit (loss) for the period | 9904 | €37,135 | €32,409 | -€4,726 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,135 | €32,409 | -€4,726 | -12.7% |
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 13 October 2026 via checked.be.