HAJO: 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.
HAJO
Largest movements
- Tangible fixed assets -€6,044
down €6,044 (-5.1%), from €118,788 to €112,744
of which Land and buildings: -€5,632
- Receivables within one year +€5,007
up €5,007 (+8.1%), from €61,443 to €66,450
of which Trade receivables: +€5,007
- Reserves -€117,024
no longer reported in 2025 (was €117,024)
- Other debts +€110,642
up €110,642 (+973%), from €11,374 to €122,015
- Tax, wage and social debts +€15,011
up €15,011 (+94.2%), from €15,930 to €30,942
of which Taxes: +€12,789
- Debts after one year -€8,557
down €8,557 (-20.3%), from €42,214 to €33,657
- Gross operating margin +€11,621
up €11,621 (+6.8%), from €172,127 to €183,749
- Financial charges +€2,432
up €2,432 (+76.1%), from €3,197 to €5,630
- Depreciation +€2,024
up €2,024 (+12.2%), from €16,545 to €18,570
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 | €198,765 | €198,704 | -€60 | 0.0% |
| Fixed assets | 21/28 | €118,788 | €112,744 | -€6,044 | -5.1% |
| Tangible fixed assets | 22/27 | €118,788 | €112,744 | -€6,044 | -5.1% |
| Land and buildings | 22 | €98,668 | €93,037 | -€5,632 | -5.7% |
| Plant, machinery and equipment | 23 | €7,820 | €6,455 | -€1,365 | -17.5% |
| Furniture and vehicles | 24 | €12,300 | €13,253 | +€953 | +7.7% |
| Current assets | 29/58 | €79,976 | €85,960 | +€5,984 | +7.5% |
| Amounts receivable within one year | 40/41 | €61,443 | €66,450 | +€5,007 | +8.1% |
| Trade receivables | 40 | €52,786 | €57,793 | +€5,007 | +9.5% |
| Other amounts receivable | 41 | €8,657 | €8,657 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,467 | €17,085 | +€618 | +3.8% |
| Deferred charges and accrued income | 490/1 | €2,067 | €2,425 | +€359 | +17.4% |
| Total equity and liabilities | 10/49 | €198,765 | €198,704 | -€60 | 0.0% |
| Equity | 10/15 | €118,024 | €1,000 | -€117,024 | -99.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €117,024 | - | -€117,024 | |
| Distributable reserves | 133 | €117,024 | - | -€117,024 | |
| Amounts payable | 17/49 | €80,741 | €197,704 | +€116,964 | +145% |
| Amounts payable after more than one year | 17 | €42,214 | €33,657 | -€8,557 | -20.3% |
| Financial debts | 170/4 | €42,214 | €33,657 | -€8,557 | -20.3% |
| Amounts payable within one year | 42/48 | €38,527 | €164,047 | +€125,520 | +326% |
| Current portion of amounts payable after more than one year | 42 | €8,466 | €8,557 | +€91 | +1.1% |
| Trade debts | 44 | €2,757 | €2,534 | -€223 | -8.1% |
| Suppliers | 440/4 | €2,757 | €2,534 | -€223 | -8.1% |
| Taxes, remuneration and social security | 45 | €15,930 | €30,942 | +€15,011 | +94.2% |
| Taxes | 450/3 | €15,930 | €28,719 | +€12,789 | +80.3% |
| Remuneration and social security | 454/9 | - | €2,222 | +€2,222 | |
| Other amounts payable | 47/48 | €11,374 | €122,015 | +€110,642 | +973% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,545 | €18,570 | +€2,024 | +12.2% |
| Other operating charges | 640/8 | €1,293 | €1,248 | -€46 | -3.5% |
| Gross operating margin | 9900 | €172,127 | €183,749 | +€11,621 | +6.8% |
| Operating profit (loss) | 9901 | €154,289 | €163,931 | +€9,643 | +6.2% |
| Financial income | 75/76B | €1 | €0 | -€0 | -26.2% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -26.2% |
| Financial charges | 65/66B | €3,197 | €5,630 | +€2,432 | +76.1% |
| Recurring financial charges | 65 | €3,197 | €5,630 | +€2,432 | +76.1% |
| Profit (loss) for the period before taxes | 9903 | €151,092 | €158,302 | +€7,210 | +4.8% |
| Income taxes | 67/77 | €34,068 | €35,871 | +€1,803 | +5.3% |
| Profit (loss) for the period | 9904 | €117,024 | €122,431 | +€5,407 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €117,024 | €122,431 | +€5,407 | +4.6% |
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 26 October 2026 via checked.be.