HALIZ: 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.
HALIZ
Largest movements
- Stocks and contracts -€12,133
no longer reported in 2025 (was €12,133)
- Other debts +€20,193
up €20,193 (+513%), from €3,935 to €24,128
- Debts after one year -€18,790
down €18,790 (-2.4%), from €771,743 to €752,953
of which Financial debts: -€568,790
- Advances received +€10,035
up €10,035 (+138%), from €7,280 to €17,315
- Gross operating margin -€27,278
down €27,278 (-37.3%), from €73,112 to €45,834
- Financial charges -€2,125
down €2,125 (-15.0%), from €14,192 to €12,067
- Depreciation +€1,928
up €1,928 (+5.3%), from €36,088 to €38,016
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 | €808,932 | €809,502 | +€570 | +0.1% |
| Fixed assets | 21/28 | €774,645 | €780,376 | +€5,731 | +0.7% |
| Tangible fixed assets | 22/27 | €774,645 | €780,376 | +€5,731 | +0.7% |
| Land and buildings | 22 | €757,067 | €725,082 | -€31,985 | -4.2% |
| Plant, machinery and equipment | 23 | €8,802 | €6,921 | -€1,881 | -21.4% |
| Furniture and vehicles | 24 | €330 | €48,374 | +€48,043 | +14,545% |
| Leasing and similar rights | 25 | €8,445 | - | -€8,445 | |
| Current assets | 29/58 | €34,287 | €29,126 | -€5,161 | -15.1% |
| Stocks and contracts in progress | 3 | €12,133 | - | -€12,133 | |
| Stocks | 30/36 | €12,133 | - | -€12,133 | |
| Amounts receivable within one year | 40/41 | - | €6,891 | +€6,891 | |
| Trade receivables | 40 | - | €6,891 | +€6,891 | |
| Cash at bank and in hand | 54/58 | €22,155 | €22,235 | +€80 | +0.4% |
| Total equity and liabilities | 10/49 | €808,932 | €809,502 | +€570 | +0.1% |
| Equity | 10/15 | -€2,963 | -€9,574 | -€6,611 | -223% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,963 | -€134,574 | -€6,611 | -5.2% |
| Amounts payable | 17/49 | €811,895 | €819,076 | +€7,181 | +0.9% |
| Amounts payable after more than one year | 17 | €771,743 | €752,953 | -€18,790 | -2.4% |
| Financial debts | 170/4 | €771,743 | €202,953 | -€568,790 | -73.7% |
| Other amounts payable | 178/9 | - | €550,000 | +€550,000 | |
| Amounts payable within one year | 42/48 | €40,152 | €66,123 | +€25,971 | +64.7% |
| Current portion of amounts payable after more than one year | 42 | €18,600 | €15,450 | -€3,150 | -16.9% |
| Trade debts | 44 | €9,255 | €8,717 | -€538 | -5.8% |
| Suppliers | 440/4 | €9,255 | €8,717 | -€538 | -5.8% |
| Advances received on contracts in progress | 46 | €7,280 | €17,315 | +€10,035 | +138% |
| Taxes, remuneration and social security | 45 | €1,082 | €513 | -€569 | -52.6% |
| Taxes | 450/3 | €1,082 | €513 | -€569 | -52.6% |
| Other amounts payable | 47/48 | €3,935 | €24,128 | +€20,193 | +513% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,088 | €38,016 | +€1,928 | +5.3% |
| Other operating charges | 640/8 | €2,163 | €2,344 | +€181 | +8.4% |
| Gross operating margin | 9900 | €73,112 | €45,834 | -€27,278 | -37.3% |
| Operating profit (loss) | 9901 | €34,861 | €5,474 | -€29,387 | -84.3% |
| Financial income | 75/76B | - | €33 | +€33 | |
| Recurring financial income | 75 | - | €33 | +€33 | |
| Financial charges | 65/66B | €14,192 | €12,067 | -€2,125 | -15.0% |
| Recurring financial charges | 65 | €14,192 | €12,067 | -€2,125 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €20,669 | -€6,560 | -€27,229 | |
| Income taxes | 67/77 | - | €51 | +€51 | |
| Profit (loss) for the period | 9904 | €20,669 | -€6,611 | -€27,280 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,669 | -€6,611 | -€27,280 |
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 18 October 2026 via checked.be.