HALAC: 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.
HALAC
Largest movements
- Tangible fixed assets +€36,487
up €36,487 (+67.1%), from €54,412 to €90,899
of which Furniture and vehicles: +€39,583
- Cash +€4,984
up €4,984 (+115%), from €4,318 to €9,302
mainly Net result for the year (+€62,872) and Debts after one year (+€32,377)
- Receivables within one year +€1,863
up €1,863 (+4.7%), from €39,400 to €41,263
- Debts after one year +€32,377
new in 2025: €32,377
- Other debts -€21,644
down €21,644 (-26.7%), from €80,950 to €59,306
- Reserves +€20,015
up €20,015 (+1,076%), from €1,860 to €21,875
- Current portion of long-term debt +€9,073
new in 2025: €9,073
- Tax, wage and social debts +€3,090
up €3,090 (+48.2%), from €6,409 to €9,499
- Depreciation +€12,921
up €12,921 (+203%), from €6,364 to €19,286
- Gross operating margin -€4,280
down €4,280 (-3.9%), from €109,361 to €105,081
- Taxes -€2,062
down €2,062 (-9.4%), from €21,902 to €19,841
- Financial charges +€1,518
up €1,518 (+323%), from €470 to €1,988
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 | €102,582 | €146,051 | +€43,469 | +42.4% |
| Fixed assets | 21/28 | €54,519 | €91,006 | +€36,487 | +66.9% |
| Tangible fixed assets | 22/27 | €54,412 | €90,899 | +€36,487 | +67.1% |
| Furniture and vehicles | 24 | €38,481 | €78,063 | +€39,583 | +103% |
| Other tangible fixed assets | 26 | €15,932 | €12,836 | -€3,096 | -19.4% |
| Financial fixed assets | 28 | €107 | €107 | = | 0.0% |
| Current assets | 29/58 | €48,063 | €55,045 | +€6,982 | +14.5% |
| Amounts receivable within one year | 40/41 | €39,400 | €41,263 | +€1,863 | +4.7% |
| Trade receivables | 40 | €39,400 | €41,263 | +€1,863 | +4.7% |
| Cash at bank and in hand | 54/58 | €4,318 | €9,302 | +€4,984 | +115% |
| Deferred charges and accrued income | 490/1 | €4,344 | €4,480 | +€136 | +3.1% |
| Total equity and liabilities | 10/49 | €102,582 | €146,051 | +€43,469 | +42.4% |
| Equity | 10/15 | €10,032 | €30,047 | +€20,015 | +200% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €21,875 | +€20,015 | +1,076% |
| Distributable reserves | 133 | €1,860 | €21,875 | +€20,015 | +1,076% |
| Profit (loss) carried forward | 14 | €1,972 | €1,972 | = | 0.0% |
| Amounts payable | 17/49 | €92,550 | €116,004 | +€23,454 | +25.3% |
| Amounts payable after more than one year | 17 | - | €32,377 | +€32,377 | |
| Financial debts | 170/4 | - | €32,377 | +€32,377 | |
| Amounts payable within one year | 42/48 | €92,507 | €83,623 | -€8,885 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | - | €9,073 | +€9,073 | |
| Trade debts | 44 | €5,149 | €5,745 | +€596 | +11.6% |
| Suppliers | 440/4 | €5,149 | €5,745 | +€596 | +11.6% |
| Taxes, remuneration and social security | 45 | €6,409 | €9,499 | +€3,090 | +48.2% |
| Taxes | 450/3 | €6,409 | €9,499 | +€3,090 | +48.2% |
| Other amounts payable | 47/48 | €80,950 | €59,306 | -€21,644 | -26.7% |
| Accrued charges and deferred income | 492/3 | €42 | €5 | -€38 | -89.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,364 | €19,286 | +€12,921 | +203% |
| Other operating charges | 640/8 | €1,220 | €1,139 | -€81 | -6.6% |
| Gross operating margin | 9900 | €109,361 | €105,081 | -€4,280 | -3.9% |
| Operating profit (loss) | 9901 | €101,777 | €84,657 | -€17,120 | -16.8% |
| Financial income | 75/76B | €19 | €44 | +€25 | +133% |
| Recurring financial income | 75 | €19 | €44 | +€25 | +133% |
| Financial charges | 65/66B | €470 | €1,988 | +€1,518 | +323% |
| Recurring financial charges | 65 | €470 | €1,988 | +€1,518 | +323% |
| Profit (loss) for the period before taxes | 9903 | €101,326 | €82,713 | -€18,613 | -18.4% |
| Income taxes | 67/77 | €21,902 | €19,841 | -€2,062 | -9.4% |
| Profit (loss) for the period | 9904 | €79,424 | €62,872 | -€16,552 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €79,424 | €62,872 | -€16,552 | -20.8% |
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 16 October 2026 via checked.be.