HAGIO: 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.
HAGIO
Largest movements
- Cash -€51,908
down €51,908 (-53.8%), from €96,461 to €44,553
mainly Net result for the year (-€31,099) and Trade debts (-€10,856)
- Receivables within one year -€1,447
down €1,447 (-91.1%), from €1,589 to €142
- Reserves -€25,558
down €25,558 (-66.9%), from €38,182 to €12,624
of which Distributable reserves: -€25,558
- Trade debts -€10,856
down €10,856 (-49.9%), from €21,761 to €10,905
- Tax, wage and social debts -€9,245
down €9,245 (-41.7%), from €22,183 to €12,938
of which Remuneration and social security: -€9,484
- Profit (loss) carried forward -€5,541
no longer reported in 2025 (was €5,541)
- Other debts -€2,429
down €2,429 (-30.2%), from €8,053 to €5,624
- Gross operating margin -€52,292
down €52,292 (-74.9%), from €69,862 to €17,570
- Staff costs -€12,376
down €12,376 (-26.0%), from €47,585 to €35,209
- Taxes -€4,586
no longer reported in 2025 (was €4,586)
- Other operating charges +€1,030
up €1,030 (+18.6%), from €5,545 to €6,575
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 | €114,320 | €61,047 | -€53,273 | -46.6% |
| Fixed assets | 21/28 | €11,345 | €11,699 | +€354 | +3.1% |
| Tangible fixed assets | 22/27 | €6,428 | €6,782 | +€354 | +5.5% |
| Plant, machinery and equipment | 23 | €5,731 | €6,665 | +€934 | +16.3% |
| Furniture and vehicles | 24 | €463 | - | -€463 | |
| Other tangible fixed assets | 26 | €234 | €117 | -€117 | -50.0% |
| Financial fixed assets | 28 | €4,917 | €4,917 | = | 0.0% |
| Current assets | 29/58 | €102,975 | €49,348 | -€53,627 | -52.1% |
| Stocks and contracts in progress | 3 | €4,925 | €4,653 | -€272 | -5.5% |
| Stocks | 30/36 | €4,925 | €4,653 | -€272 | -5.5% |
| Amounts receivable within one year | 40/41 | €1,589 | €142 | -€1,447 | -91.1% |
| Other amounts receivable | 41 | €1,589 | €142 | -€1,447 | -91.1% |
| Cash at bank and in hand | 54/58 | €96,461 | €44,553 | -€51,908 | -53.8% |
| Total equity and liabilities | 10/49 | €114,320 | €61,047 | -€53,273 | -46.6% |
| Equity | 10/15 | €62,323 | €31,224 | -€31,099 | -49.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €38,182 | €12,624 | -€25,558 | -66.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €36,322 | €10,764 | -€25,558 | -70.4% |
| Profit (loss) carried forward | 14 | €5,541 | - | -€5,541 | |
| Amounts payable | 17/49 | €51,997 | €29,823 | -€22,174 | -42.6% |
| Amounts payable within one year | 42/48 | €51,997 | €29,467 | -€22,530 | -43.3% |
| Trade debts | 44 | €21,761 | €10,905 | -€10,856 | -49.9% |
| Suppliers | 440/4 | €21,761 | €10,905 | -€10,856 | -49.9% |
| Taxes, remuneration and social security | 45 | €22,183 | €12,938 | -€9,245 | -41.7% |
| Taxes | 450/3 | €10,347 | €10,586 | +€239 | +2.3% |
| Remuneration and social security | 454/9 | €11,836 | €2,352 | -€9,484 | -80.1% |
| Other amounts payable | 47/48 | €8,053 | €5,624 | -€2,429 | -30.2% |
| Accrued charges and deferred income | 492/3 | - | €356 | +€356 | |
| Remuneration, social security and pensions | 62 | €47,585 | €35,209 | -€12,376 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,030 | €4,437 | +€407 | +10.1% |
| Other operating charges | 640/8 | €5,545 | €6,575 | +€1,030 | +18.6% |
| Gross operating margin | 9900 | €69,862 | €17,570 | -€52,292 | -74.9% |
| Operating profit (loss) | 9901 | €12,702 | -€28,651 | -€41,353 | |
| Financial income | 75/76B | €217 | €129 | -€88 | -40.6% |
| Recurring financial income | 75 | €217 | €129 | -€88 | -40.6% |
| Financial charges | 65/66B | €2,792 | €2,577 | -€215 | -7.7% |
| Recurring financial charges | 65 | €2,792 | €2,577 | -€215 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €10,127 | -€31,099 | -€41,226 | |
| Income taxes | 67/77 | €4,586 | - | -€4,586 | |
| Profit (loss) for the period | 9904 | €5,541 | -€31,099 | -€36,640 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,541 | -€31,099 | -€36,640 |
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 12 October 2026 via checked.be.