HAIDER: 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.
HAIDER
Largest movements
- Tangible fixed assets +€443,509
up €443,509 (+105.3%), from €421,200 to €864,709
of which Assets under construction and advance payments: +€445,435
- Cash +€59,068
up €59,068 (+251.9%), from €23,450 to €82,518
mainly Debts after one year (+€256,199) and Short-term financial debts (+€211,507)
- Debts after one year +€256,199
up €256,199 (+90.3%), from €283,799 to €539,998
- Short-term financial debts +€211,507
new in 2025: €211,507
- Other debts +€30,000
up €30,000 (+30.4%), from €98,565 to €128,565
- Profit (loss) carried forward -€14,502
down €14,502 (-62.9%), from €23,039 to €8,537
- Tax, wage and social debts +€13,922
up €13,922 (+119.5%), from €11,649 to €25,571
of which Taxes: +€7,751
- Other operating charges -€14,149
down €14,149 (-56.8%), from €24,916 to €10,767
- Financial charges +€8,395
up €8,395 (+113.4%), from €7,404 to €15,799
- Depreciation +€6,288
up €6,288 (+47.8%), from €13,168 to €19,456
- Gross operating margin +€1,342
up €1,342 (+4.6%), from €29,483 to €30,825
- Financial income +€1,060
new in 2025: €1,060
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 | €469,372 | €973,262 | +€503,890 | +107.4% |
| Fixed assets | 21/28 | €421,200 | €864,709 | +€443,509 | +105.3% |
| Tangible fixed assets | 22/27 | €421,200 | €864,709 | +€443,509 | +105.3% |
| Land and buildings | 22 | €397,983 | €396,521 | -€1,462 | -0.4% |
| Furniture and vehicles | 24 | €1,103 | €639 | -€464 | -42.1% |
| Assets under construction and advance payments | 27 | €22,114 | €467,549 | +€445,435 | +2014.3% |
| Current assets | 29/58 | €48,172 | €108,554 | +€60,381 | +125.3% |
| Amounts receivable within one year | 40/41 | €22,431 | €22,388 | -€43 | -0.2% |
| Trade receivables | 40 | €17,480 | €16,783 | -€696 | -4.0% |
| Other amounts receivable | 41 | €4,951 | €5,604 | +€653 | +13.2% |
| Cash at bank and in hand | 54/58 | €23,450 | €82,518 | +€59,068 | +251.9% |
| Deferred charges and accrued income | 490/1 | €2,292 | €3,648 | +€1,356 | +59.2% |
| Total equity and liabilities | 10/49 | €469,372 | €973,262 | +€503,890 | +107.4% |
| Equity | 10/15 | €43,039 | €28,537 | -€14,502 | -33.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Profit (loss) carried forward | 14 | €23,039 | €8,537 | -€14,502 | -62.9% |
| Amounts payable | 17/49 | €426,332 | €944,725 | +€518,392 | +121.6% |
| Amounts payable after more than one year | 17 | €283,799 | €539,998 | +€256,199 | +90.3% |
| Financial debts | 170/4 | €283,799 | €539,998 | +€256,199 | +90.3% |
| Amounts payable within one year | 42/48 | €142,431 | €404,727 | +€262,296 | +184.2% |
| Current portion of amounts payable after more than one year | 42 | €15,117 | €13,296 | -€1,820 | -12.0% |
| Financial debts | 43 | - | €211,507 | +€211,507 | |
| Credit institutions | 430/8 | - | €211,507 | +€211,507 | |
| Trade debts | 44 | €17,100 | €25,788 | +€8,688 | +50.8% |
| Suppliers | 440/4 | €17,100 | €25,788 | +€8,688 | +50.8% |
| Taxes, remuneration and social security | 45 | €11,649 | €25,571 | +€13,922 | +119.5% |
| Taxes | 450/3 | €9,585 | €17,335 | +€7,751 | +80.9% |
| Remuneration and social security | 454/9 | €2,065 | €8,235 | +€6,171 | +298.9% |
| Other amounts payable | 47/48 | €98,565 | €128,565 | +€30,000 | +30.4% |
| Accrued charges and deferred income | 492/3 | €102 | - | -€102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,168 | €19,456 | +€6,288 | +47.8% |
| Other operating charges | 640/8 | €24,916 | €10,767 | -€14,149 | -56.8% |
| Gross operating margin | 9900 | €29,483 | €30,825 | +€1,342 | +4.6% |
| Operating profit (loss) | 9901 | -€8,601 | €602 | +€9,203 | |
| Financial income | 75/76B | - | €1,060 | +€1,060 | |
| Recurring financial income | 75 | - | €1,060 | +€1,060 | |
| Financial charges | 65/66B | €7,404 | €15,799 | +€8,395 | +113.4% |
| Recurring financial charges | 65 | €7,404 | €15,799 | +€8,395 | +113.4% |
| Profit (loss) for the period before taxes | 9903 | -€16,005 | -€14,137 | +€1,868 | +11.7% |
| Income taxes | 67/77 | €382 | €365 | -€16 | -4.3% |
| Profit (loss) for the period | 9904 | -€16,387 | -€14,502 | +€1,885 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,387 | -€14,502 | +€1,885 | +11.5% |
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 5 October 2026 via checked.be.