HAIXIAN: 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.
HAIXIAN
Largest movements
- Cash +€152,426
up €152,426 (+314%), from €48,480 to €200,906
mainly Net result for the year (+€171,212) and Tax, wage and social debts (+€37,364)
- Tangible fixed assets -€13,496
down €13,496 (-10.0%), from €134,746 to €121,250
of which Plant, machinery and equipment: -€11,374
- Stocks and contracts -€11,383
down €11,383 (-27.7%), from €41,083 to €29,700
- Receivables within one year +€5,763
up €5,763 (+17.0%), from €33,819 to €39,582
of which Trade receivables: +€5,763
- Reserves +€137,730
new in 2025: €137,730
- Other debts -€60,309
down €60,309 (-35.8%), from €168,243 to €107,934
- Tax, wage and social debts +€37,364
up €37,364 (+318%), from €11,738 to €49,102
of which Taxes: +€39,629
- Profit (loss) carried forward +€33,483
no longer reported in 2025 (was -€33,483)
- Trade debts -€16,933
down €16,933 (-57.9%), from €29,267 to €12,335
- Gross operating margin +€284,015
up €284,015 (+332%), from €85,602 to €369,618
- Taxes +€53,715
new in 2025: €53,715
- Staff costs +€14,471
up €14,471 (+13.8%), from €104,878 to €119,349
- Depreciation +€6,374
up €6,374 (+60.4%), from €10,559 to €16,933
- Financial charges +€4,703
up €4,703 (+127%), from €3,701 to €8,404
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 | €277,112 | €409,450 | +€132,338 | +47.8% |
| Fixed assets | 21/28 | €151,132 | €135,880 | -€15,252 | -10.1% |
| Intangible fixed assets | 21 | €16,386 | €14,630 | -€1,756 | -10.7% |
| Tangible fixed assets | 22/27 | €134,746 | €121,250 | -€13,496 | -10.0% |
| Plant, machinery and equipment | 23 | €114,947 | €103,573 | -€11,374 | -9.9% |
| Furniture and vehicles | 24 | €19,799 | €17,677 | -€2,122 | -10.7% |
| Current assets | 29/58 | €125,980 | €273,570 | +€147,590 | +117% |
| Stocks and contracts in progress | 3 | €41,083 | €29,700 | -€11,383 | -27.7% |
| Stocks | 30/36 | €41,083 | €29,700 | -€11,383 | -27.7% |
| Amounts receivable within one year | 40/41 | €33,819 | €39,582 | +€5,763 | +17.0% |
| Trade receivables | 40 | €8,319 | €14,082 | +€5,763 | +69.3% |
| Other amounts receivable | 41 | €25,500 | €25,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €48,480 | €200,906 | +€152,426 | +314% |
| Deferred charges and accrued income | 490/1 | €2,599 | €3,383 | +€784 | +30.2% |
| Total equity and liabilities | 10/49 | €277,112 | €409,450 | +€132,338 | +47.8% |
| Equity | 10/15 | €66,517 | €237,730 | +€171,212 | +257% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | - | €137,730 | +€137,730 | |
| Distributable reserves | 133 | - | €137,730 | +€137,730 | |
| Profit (loss) carried forward | 14 | -€33,483 | - | +€33,483 | |
| Amounts payable | 17/49 | €210,595 | €171,720 | -€38,874 | -18.5% |
| Amounts payable within one year | 42/48 | €209,248 | €169,371 | -€39,878 | -19.1% |
| Trade debts | 44 | €29,267 | €12,335 | -€16,933 | -57.9% |
| Suppliers | 440/4 | €29,267 | €12,335 | -€16,933 | -57.9% |
| Taxes, remuneration and social security | 45 | €11,738 | €49,102 | +€37,364 | +318% |
| Taxes | 450/3 | €1,938 | €41,567 | +€39,629 | +2,045% |
| Remuneration and social security | 454/9 | €9,800 | €7,535 | -€2,265 | -23.1% |
| Other amounts payable | 47/48 | €168,243 | €107,934 | -€60,309 | -35.8% |
| Accrued charges and deferred income | 492/3 | €1,346 | €2,349 | +€1,003 | +74.5% |
| Non-recurring operating income | 76A | €85 | €6,615 | +€6,530 | +7,711% |
| Remuneration, social security and pensions | 62 | €104,878 | €119,349 | +€14,471 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,559 | €16,933 | +€6,374 | +60.4% |
| Non-recurring operating charges | 66A | €220 | €6 | -€214 | -97.5% |
| Gross operating margin | 9900 | €85,602 | €369,618 | +€284,015 | +332% |
| Operating profit (loss) | 9901 | -€30,055 | €233,330 | +€263,384 | |
| Financial income | 75/76B | €273 | €1 | -€272 | -99.6% |
| Recurring financial income | 75 | €273 | €1 | -€272 | -99.6% |
| Financial charges | 65/66B | €3,701 | €8,404 | +€4,703 | +127% |
| Recurring financial charges | 65 | €3,701 | €8,404 | +€4,703 | +127% |
| Profit (loss) for the period before taxes | 9903 | -€33,483 | €224,927 | +€258,410 | |
| Income taxes | 67/77 | - | €53,715 | +€53,715 | |
| Profit (loss) for the period | 9904 | -€33,483 | €171,212 | +€204,695 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,483 | €171,212 | +€204,695 |
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.