HAIRMAX: 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.
HAIRMAX
Largest movements
- Cash -€5,897
down €5,897 (-23.0%), from €25,647 to €19,750
mainly Investment in fixed assets (net) (-€7,907) and Net result for the year (-€4,741)
- Tangible fixed assets -€1,059
down €1,059 (-1.8%), from €57,386 to €56,327
- Deferred charges and accrued income +€926
up €926 (+43.3%), from €2,138 to €3,064
- Profit (loss) carried forward -€4,741
down €4,741, from €1,128 to -€3,613
- Debts after one year -€3,008
down €3,008 (-11.4%), from €26,283 to €23,275
- Current portion of long-term debt +€1,954
up €1,954 (+47.1%), from €4,152 to €6,106
- Tax, wage and social debts +€1,148
up €1,148 (+150%), from €763 to €1,911
of which Taxes: +€1,148
- Trade debts -€930
down €930 (-16.3%), from €5,715 to €4,785
- Depreciation +€2,565
up €2,565 (+40.1%), from €6,401 to €8,966
- Gross operating margin -€2,295
down €2,295 (-21.5%), from €10,678 to €8,383
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 | €91,871 | €85,209 | -€6,662 | -7.3% |
| Fixed assets | 21/28 | €57,386 | €56,327 | -€1,059 | -1.8% |
| Tangible fixed assets | 22/27 | €57,386 | €56,327 | -€1,059 | -1.8% |
| Other tangible fixed assets | 26 | €57,386 | €56,327 | -€1,059 | -1.8% |
| Current assets | 29/58 | €34,485 | €28,882 | -€5,603 | -16.2% |
| Stocks and contracts in progress | 3 | €6,700 | €6,068 | -€632 | -9.4% |
| Stocks | 30/36 | €6,700 | €6,068 | -€632 | -9.4% |
| Cash at bank and in hand | 54/58 | €25,647 | €19,750 | -€5,897 | -23.0% |
| Deferred charges and accrued income | 490/1 | €2,138 | €3,064 | +€926 | +43.3% |
| Total equity and liabilities | 10/49 | €91,871 | €85,209 | -€6,662 | -7.3% |
| Equity | 10/15 | €19,966 | €15,225 | -€4,741 | -23.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €238 | €238 | = | 0.0% |
| Distributable reserves | 133 | €238 | €238 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,128 | -€3,613 | -€4,741 | |
| Amounts payable | 17/49 | €71,905 | €69,984 | -€1,921 | -2.7% |
| Amounts payable after more than one year | 17 | €26,283 | €23,275 | -€3,008 | -11.4% |
| Financial debts | 170/4 | €26,283 | €23,275 | -€3,008 | -11.4% |
| Amounts payable within one year | 42/48 | €45,305 | €46,709 | +€1,404 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €4,152 | €6,106 | +€1,954 | +47.1% |
| Financial debts | 43 | €57 | €204 | +€147 | +260% |
| Credit institutions | 430/8 | €57 | €204 | +€147 | +260% |
| Trade debts | 44 | €5,715 | €4,785 | -€930 | -16.3% |
| Suppliers | 440/4 | €5,715 | €4,785 | -€930 | -16.3% |
| Taxes, remuneration and social security | 45 | €763 | €1,911 | +€1,148 | +150% |
| Taxes | 450/3 | €363 | €1,511 | +€1,148 | +316% |
| Remuneration and social security | 454/9 | €400 | €400 | = | 0.0% |
| Other amounts payable | 47/48 | €34,618 | €33,704 | -€914 | -2.6% |
| Accrued charges and deferred income | 492/3 | €317 | - | -€317 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,401 | €8,966 | +€2,565 | +40.1% |
| Other operating charges | 640/8 | €748 | €654 | -€94 | -12.6% |
| Gross operating margin | 9900 | €10,678 | €8,383 | -€2,295 | -21.5% |
| Operating profit (loss) | 9901 | €3,529 | -€1,237 | -€4,766 | |
| Financial income | 75/76B | €11 | €0 | -€11 | -99.9% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -99.9% |
| Financial charges | 65/66B | €3,275 | €3,352 | +€76 | +2.3% |
| Recurring financial charges | 65 | €3,275 | €3,352 | +€76 | +2.3% |
| Profit (loss) for the period before taxes | 9903 | €264 | -€4,589 | -€4,853 | |
| Income taxes | 67/77 | €158 | €152 | -€6 | -3.7% |
| Profit (loss) for the period | 9904 | €107 | -€4,741 | -€4,847 | |
| Profit (loss) for the period to be appropriated | 9905 | €107 | -€4,741 | -€4,847 |
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.