HAGOR: 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.
What changed
HAGOR
NACE 10.890, Manufacture of food products
fiscal year 31-12-2024 against 31-12-2025filed annual accounts (NBB)
Net result for the year
€109,407
31-12-2024 · €369,995-€260,588
Equity
€397,650
31-12-2024 · €397,650
Cash
€10,476
31-12-2024 · €67,859-€57,382
Balance sheet total
€517,731
31-12-2024 · €7.7m-€7.2m
Largest movements
Assets
- Receivables within one year -€7.1m
down €7.1m (-93.4%), from €7.6m to €507,086
Equity and liabilities
- Other debts -€7.2m
down €7.2m (-98.5%), from €7.3m to €109,407
Income statement
- Financial income -€202,692
down €202,692 (-54.5%), from €371,615 to €168,923
- Turnover -€104,055
no longer reported in 2025 (was €104,055)
- Staff costs -€78,578
down €78,578 (-99.2%), from €79,207 to €629
- Taxes +€29,904
up €29,904 (+455.5%), from €6,565 to €36,469
- Other operating income -€2,492
down €2,492 (-74.7%), from €3,337 to €845
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024
€369,995
Turnover
-€104,055
Other operating income
-€2,492
Services and other goods
-€300
Staff costs
+€78,578
Write-downs
-€153
Other operating charges
+€556
Financial income
-€202,692
Financial charges
-€125
Taxes
-€29,904
Result 31-12-2025
€109,407
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€49,625
Investment
+€2,400
Financing
-€109,407
Cash 31-12-2024
€67,859
From operations (derived)
+€49,625
Net result for the year
+€109,407
Receivables within one year
+€7.1m
Smaller working-capital items
-€7,937
Other debts
-€7.2m
Investment (derived)
+€2,400
Investment in fixed assets (net)
+€2,400
Financing
-€109,407
Contributions, distributions and other
-€109,407
Cash 31-12-2025
€10,476
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,704,268 | €517,731 | -€7.2m | -93.3% |
| Fixed assets | 21/28 | €2,400 | - | -€2,400 | |
| Financial fixed assets | 28 | €2,400 | - | -€2,400 | |
| Other financial fixed assets | 284/8 | €2,400 | - | -€2,400 | |
| Amounts receivable and cash guarantees | 285/8 | €2,400 | - | -€2,400 | |
| Current assets | 29/58 | €7,701,868 | €517,731 | -€7.2m | -93.3% |
| Amounts receivable within one year | 40/41 | €7,634,010 | €507,086 | -€7.1m | -93.4% |
| Other amounts receivable | 41 | €7,634,010 | €507,086 | -€7.1m | -93.4% |
| Cash at bank and in hand | 54/58 | €67,859 | €10,476 | -€57,382 | -84.6% |
| Deferred charges and accrued income | 490/1 | - | €169 | +€169 | |
| Total equity and liabilities | 10/49 | €7,704,268 | €517,731 | -€7.2m | -93.3% |
| Equity | 10/15 | €397,650 | €397,650 | = | 0.0% |
| Contributions | 10/11 | €361,500 | €361,500 | = | 0.0% |
| Capital | 10 | €361,500 | €361,500 | = | 0.0% |
| Issued capital | 100 | €361,500 | €361,500 | = | 0.0% |
| Reserves | 13 | €36,150 | €36,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,150 | €36,150 | = | 0.0% |
| Legal reserve | 130 | €36,150 | €36,150 | = | 0.0% |
| Amounts payable | 17/49 | €7,306,618 | €120,081 | -€7.2m | -98.4% |
| Amounts payable within one year | 42/48 | €7,306,618 | €120,081 | -€7.2m | -98.4% |
| Trade debts | 44 | €9,709 | €10,674 | +€965 | +9.9% |
| Suppliers | 440/4 | €9,709 | €10,674 | +€965 | +9.9% |
| Taxes, remuneration and social security | 45 | €8,733 | - | -€8,733 | |
| Taxes | 450/3 | €8,733 | - | -€8,733 | |
| Other amounts payable | 47/48 | €7,288,176 | €109,407 | -€7.2m | -98.5% |
| Operating income | 70/76A | €107,392 | €845 | -€106,547 | -99.2% |
| Turnover | 70 | €104,055 | - | -€104,055 | |
| Other operating income | 74 | €3,337 | €845 | -€2,492 | -74.7% |
| Operating charges | 60/66A | €100,590 | €21,910 | -€78,680 | -78.2% |
| Services and other goods | 61 | €20,396 | €20,696 | +€300 | +1.5% |
| Remuneration, social security and pensions | 62 | €79,207 | €629 | -€78,578 | -99.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€918 | -€765 | +€153 | +16.7% |
| Other operating charges | 640/8 | €1,905 | €1,349 | -€556 | -29.2% |
| Operating profit (loss) | 9901 | €6,802 | -€21,064 | -€27,867 | |
| Financial income | 75/76B | €371,615 | €168,923 | -€202,692 | -54.5% |
| Recurring financial income | 75 | €371,615 | €168,923 | -€202,692 | -54.5% |
| Income from financial fixed assets | 750 | €371,615 | - | -€371,615 | |
| Income from current assets | 751 | - | €168,923 | +€168,923 | |
| Financial charges | 65/66B | €1,857 | €1,982 | +€125 | +6.7% |
| Recurring financial charges | 65 | €1,857 | €1,982 | +€125 | +6.7% |
| Other financial charges | 652/9 | €1,857 | €1,982 | +€125 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €376,560 | €145,877 | -€230,684 | -61.3% |
| Income taxes | 67/77 | €6,565 | €36,469 | +€29,904 | +455.5% |
| Taxes | 670/3 | €6,565 | €36,469 | +€29,904 | +455.5% |
| Profit (loss) for the period | 9904 | €369,995 | €109,407 | -€260,588 | -70.4% |
| Profit (loss) for the period to be appropriated | 9905 | €369,995 | €109,407 | -€260,588 | -70.4% |
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 2 October 2026 via checked.be.