HAIGIANG: 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.
HAIGIANG
Largest movements
- Cash -€27,506
down €27,506 (-74.9%), from €36,705 to €9,199
mainly Investment in fixed assets (net) (-€27,416) and Other debts (-€21,938)
- Tangible fixed assets +€21,533
up €21,533 (+6,215%), from €346 to €21,880
of which Other tangible fixed assets: +€16,827
- Intangible fixed assets -€8,333
down €8,333 (-100%), from €8,333 to €0
- Financial fixed assets +€4,800
up €4,800 (+57.1%), from €8,400 to €13,200
- Deferred charges and accrued income +€1,132
up €1,132 (+70.1%), from €1,615 to €2,748
- Other debts -€21,938
down €21,938 (-84.9%), from €25,839 to €3,900
- Reserves +€10,115
new in 2025: €10,115
- Trade debts +€2,849
up €2,849 (+370%), from €770 to €3,619
- Tax, wage and social debts +€1,913
up €1,913 (+200%), from €957 to €2,869
of which Taxes: +€1,843
- Accrued charges and deferred income -€1,200
down €1,200 (-100%), from €1,200 to €0
- Financial charges +€10,079
up €10,079 (+506%), from €1,993 to €12,072
- Gross operating margin -€4,292
down €4,292 (-10.3%), from €41,476 to €37,184
- Taxes +€2,573
up €2,573 (+262%), from €981 to €3,554
- Other operating charges +€1,575
up €1,575 (+97.7%), from €1,612 to €3,187
- Financial income +€1,221
up €1,221 (+14,947%), from €8 to €1,229
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 | €57,574 | €49,312 | -€8,261 | -14.3% |
| Fixed assets | 21/28 | €17,080 | €35,080 | +€18,000 | +105% |
| Intangible fixed assets | 21 | €8,333 | €0 | -€8,333 | -100% |
| Tangible fixed assets | 22/27 | €346 | €21,880 | +€21,533 | +6,215% |
| Plant, machinery and equipment | 23 | - | €2,397 | +€2,397 | |
| Furniture and vehicles | 24 | €346 | €2,656 | +€2,310 | +667% |
| Other tangible fixed assets | 26 | - | €16,827 | +€16,827 | |
| Financial fixed assets | 28 | €8,400 | €13,200 | +€4,800 | +57.1% |
| Current assets | 29/58 | €40,494 | €14,232 | -€26,261 | -64.9% |
| Stocks and contracts in progress | 3 | €516 | €176 | -€340 | -65.8% |
| Stocks | 30/36 | €516 | €176 | -€340 | -65.8% |
| Amounts receivable within one year | 40/41 | €1,658 | €2,110 | +€452 | +27.3% |
| Trade receivables | 40 | - | €653 | +€653 | |
| Other amounts receivable | 41 | €1,658 | €1,457 | -€201 | -12.1% |
| Cash at bank and in hand | 54/58 | €36,705 | €9,199 | -€27,506 | -74.9% |
| Deferred charges and accrued income | 490/1 | €1,615 | €2,748 | +€1,132 | +70.1% |
| Total equity and liabilities | 10/49 | €57,574 | €49,312 | -€8,261 | -14.3% |
| Equity | 10/15 | €28,809 | €38,924 | +€10,115 | +35.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €10,115 | +€10,115 | |
| Distributable reserves | 133 | - | €10,115 | +€10,115 | |
| Profit (loss) carried forward | 14 | €18,809 | €18,809 | = | 0.0% |
| Amounts payable | 17/49 | €28,765 | €10,388 | -€18,376 | -63.9% |
| Amounts payable within one year | 42/48 | €27,565 | €10,388 | -€17,176 | -62.3% |
| Trade debts | 44 | €770 | €3,619 | +€2,849 | +370% |
| Suppliers | 440/4 | €770 | €3,619 | +€2,849 | +370% |
| Taxes, remuneration and social security | 45 | €957 | €2,869 | +€1,913 | +200% |
| Taxes | 450/3 | €957 | €2,799 | +€1,843 | +193% |
| Remuneration and social security | 454/9 | - | €70 | +€70 | |
| Other amounts payable | 47/48 | €25,839 | €3,900 | -€21,938 | -84.9% |
| Accrued charges and deferred income | 492/3 | €1,200 | €0 | -€1,200 | -100% |
| Remuneration, social security and pensions | 62 | €498 | €70 | -€428 | -86.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,283 | €9,416 | -€867 | -8.4% |
| Other operating charges | 640/8 | €1,612 | €3,187 | +€1,575 | +97.7% |
| Gross operating margin | 9900 | €41,476 | €37,184 | -€4,292 | -10.3% |
| Operating profit (loss) | 9901 | €29,083 | €24,511 | -€4,572 | -15.7% |
| Financial income | 75/76B | €8 | €1,229 | +€1,221 | +14,947% |
| Recurring financial income | 75 | €8 | €1,229 | +€1,221 | +14,947% |
| Financial charges | 65/66B | €1,993 | €12,072 | +€10,079 | +506% |
| Recurring financial charges | 65 | €1,993 | €12,072 | +€10,079 | +506% |
| Profit (loss) for the period before taxes | 9903 | €27,098 | €13,669 | -€13,430 | -49.6% |
| Income taxes | 67/77 | €981 | €3,554 | +€2,573 | +262% |
| Profit (loss) for the period | 9904 | €26,117 | €10,115 | -€16,002 | -61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,117 | €10,115 | -€16,002 | -61.3% |
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 23 October 2026 via checked.be.