HAGOMAT: 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.
HAGOMAT
Largest movements
- Receivables within one year -€24,073
down €24,073 (-8.0%), from €300,434 to €276,361
of which Trade receivables: -€21,360
- Stocks and contracts +€13,570
up €13,570 (+4.5%), from €303,770 to €317,340
- Cash -€11,512
down €11,512 (-14.5%), from €79,379 to €67,867
mainly Trade debts (-€39,145) and Contributions, distributions and other (-€36,000)
- Tangible fixed assets -€8,232
down €8,232 (-50.0%), from €16,459 to €8,227
of which Furniture and vehicles: -€7,036
- Trade debts -€39,145
down €39,145 (-19.7%), from €198,350 to €159,205
- Profit (loss) carried forward +€10,717
up €10,717 (+8.4%), from -€127,575 to -€116,858
- Gross operating margin -€22,697
down €22,697 (-12.7%), from €179,416 to €156,719
- Staff costs -€16,779
down €16,779 (-15.3%), from €109,335 to €92,556
- Financial income -€4,932
down €4,932 (-91.2%), from €5,408 to €476
of which Non-recurring financial income: -€5,399
- Taxes +€3,598
up €3,598 (+120%), from €2,998 to €6,596
- Financial charges -€2,910
down €2,910 (-24.5%), from €11,885 to €8,975
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 | €711,720 | €675,262 | -€36,458 | -5.1% |
| Fixed assets | 21/28 | €20,177 | €11,946 | -€8,232 | -40.8% |
| Tangible fixed assets | 22/27 | €16,459 | €8,227 | -€8,232 | -50.0% |
| Plant, machinery and equipment | 23 | €5,612 | €4,417 | -€1,195 | -21.3% |
| Furniture and vehicles | 24 | €10,847 | €3,811 | -€7,036 | -64.9% |
| Financial fixed assets | 28 | €3,718 | €3,718 | = | 0.0% |
| Current assets | 29/58 | €691,543 | €663,316 | -€28,227 | -4.1% |
| Stocks and contracts in progress | 3 | €303,770 | €317,340 | +€13,570 | +4.5% |
| Stocks | 30/36 | €303,770 | €317,340 | +€13,570 | +4.5% |
| Amounts receivable within one year | 40/41 | €300,434 | €276,361 | -€24,073 | -8.0% |
| Trade receivables | 40 | €199,619 | €178,259 | -€21,360 | -10.7% |
| Other amounts receivable | 41 | €100,815 | €98,101 | -€2,714 | -2.7% |
| Cash at bank and in hand | 54/58 | €79,379 | €67,867 | -€11,512 | -14.5% |
| Deferred charges and accrued income | 490/1 | €7,960 | €1,749 | -€6,211 | -78.0% |
| Total equity and liabilities | 10/49 | €711,720 | €675,262 | -€36,458 | -5.1% |
| Equity | 10/15 | €213,601 | €224,318 | +€10,717 | +5.0% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €217,229 | €217,229 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,395 | €12,395 | = | 0.0% |
| Legal reserve | 130 | €12,395 | €12,395 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,700 | €7,700 | = | 0.0% |
| Distributable reserves | 133 | €197,135 | €197,135 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,575 | -€116,858 | +€10,717 | +8.4% |
| Amounts payable | 17/49 | €498,119 | €450,944 | -€47,176 | -9.5% |
| Amounts payable within one year | 42/48 | €498,017 | €450,862 | -€47,155 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €1,667 | €1,667 | = | 0.0% |
| Trade debts | 44 | €198,350 | €159,205 | -€39,145 | -19.7% |
| Suppliers | 440/4 | €198,350 | €159,205 | -€39,145 | -19.7% |
| Taxes, remuneration and social security | 45 | €29,128 | €23,612 | -€5,515 | -18.9% |
| Taxes | 450/3 | €18,383 | €13,252 | -€5,131 | -27.9% |
| Remuneration and social security | 454/9 | €10,745 | €10,360 | -€384 | -3.6% |
| Other amounts payable | 47/48 | €268,873 | €266,378 | -€2,495 | -0.9% |
| Accrued charges and deferred income | 492/3 | €102 | €82 | -€20 | -20.0% |
| Remuneration, social security and pensions | 62 | €109,335 | €92,556 | -€16,779 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,003 | €1,608 | -€1,395 | -46.5% |
| Other operating charges | 640/8 | €889 | €412 | -€477 | -53.7% |
| Non-recurring operating charges | 66A | €391 | €331 | -€61 | -15.5% |
| Gross operating margin | 9900 | €179,416 | €156,719 | -€22,697 | -12.7% |
| Operating profit (loss) | 9901 | €65,799 | €61,813 | -€3,986 | -6.1% |
| Financial income | 75/76B | €5,408 | €476 | -€4,932 | -91.2% |
| Recurring financial income | 75 | €9 | €476 | +€467 | +5,426% |
| Non-recurring financial income | 76B | €5,399 | - | -€5,399 | |
| Financial charges | 65/66B | €11,885 | €8,975 | -€2,910 | -24.5% |
| Recurring financial charges | 65 | €11,885 | €8,975 | -€2,910 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €59,321 | €53,314 | -€6,008 | -10.1% |
| Income taxes | 67/77 | €2,998 | €6,596 | +€3,598 | +120% |
| Profit (loss) for the period | 9904 | €56,323 | €46,717 | -€9,606 | -17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €56,323 | €46,717 | -€9,606 | -17.1% |
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 15 October 2026 via checked.be.