HALL18: what changed
Two fiscal 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.
HALL18
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+220.0%), from €496,598 to €1.6m
- Receivables within one year +€517,427
up €517,427 (+35996.1%), from €1,437 to €518,864
of which Trade receivables: +€515,864
- Cash -€77,408
down €77,408 (-71.0%), from €109,054 to €31,646
mainly Investment in fixed assets (net) (-€1.1m) and Receivables within one year (-€517,427)
- Debts after one year +€749,118
up €749,118 (+253.2%), from €295,847 to €1.0m
- Trade debts +€418,873
new in 2025: €418,873
- Other debts +€218,110
new in 2025: €218,110
- Profit (loss) carried forward +€81,715
up €81,715 (+92.7%), from -€88,129 to -€6,414
- Current portion of long-term debt +€67,198
up €67,198 (+152.4%), from €44,083 to €111,281
- Gross operating margin +€157,886
up €157,886, from -€10,272 to €147,613
- Financial charges +€28,272
up €28,272 (+797.4%), from €3,545 to €31,818
- Depreciation +€25,033
up €25,033 (+300.5%), from €8,330 to €33,363
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.
Cash bridge derived
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 | €608,001 | €2,143,640 | +€1.5m | +252.6% |
| Fixed assets | 21/28 | €497,509 | €1,592,403 | +€1.1m | +220.1% |
| Intangible fixed assets | 21 | €911 | €468 | -€443 | -48.6% |
| Tangible fixed assets | 22/27 | €496,598 | €1,588,935 | +€1.1m | +220.0% |
| Land and buildings | 22 | €496,598 | €1,588,935 | +€1.1m | +220.0% |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €110,492 | €551,237 | +€440,746 | +398.9% |
| Amounts receivable within one year | 40/41 | €1,437 | €518,864 | +€517,427 | +35996.1% |
| Trade receivables | 40 | - | €515,864 | +€515,864 | |
| Other amounts receivable | 41 | €1,437 | €3,000 | +€1,563 | +108.7% |
| Cash at bank and in hand | 54/58 | €109,054 | €31,646 | -€77,408 | -71.0% |
| Deferred charges and accrued income | 490/1 | - | €727 | +€727 | |
| Total equity and liabilities | 10/49 | €608,001 | €2,143,640 | +€1.5m | +252.6% |
| Equity | 10/15 | €268,071 | €349,786 | +€81,715 | +30.5% |
| Contributions | 10/11 | €356,200 | €356,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,129 | -€6,414 | +€81,715 | +92.7% |
| Amounts payable | 17/49 | €339,930 | €1,793,855 | +€1.5m | +427.7% |
| Amounts payable after more than one year | 17 | €295,847 | €1,044,965 | +€749,118 | +253.2% |
| Financial debts | 170/4 | €295,847 | €1,044,965 | +€749,118 | +253.2% |
| Amounts payable within one year | 42/48 | €44,083 | €748,264 | +€704,182 | +1597.4% |
| Current portion of amounts payable after more than one year | 42 | €44,083 | €111,281 | +€67,198 | +152.4% |
| Trade debts | 44 | - | €418,873 | +€418,873 | |
| Suppliers | 440/4 | - | €418,873 | +€418,873 | |
| Other amounts payable | 47/48 | - | €218,110 | +€218,110 | |
| Accrued charges and deferred income | 492/3 | - | €625 | +€625 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,330 | €33,363 | +€25,033 | +300.5% |
| Other operating charges | 640/8 | €247 | €877 | +€630 | +255.5% |
| Gross operating margin | 9900 | -€10,272 | €147,613 | +€157,886 | |
| Operating profit (loss) | 9901 | -€18,849 | €113,373 | +€132,223 | |
| Financial income | 75/76B | €123 | €159 | +€37 | +30.2% |
| Recurring financial income | 75 | €123 | €159 | +€37 | +30.2% |
| Financial charges | 65/66B | €3,545 | €31,818 | +€28,272 | +797.4% |
| Recurring financial charges | 65 | €3,545 | €31,818 | +€28,272 | +797.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,272 | €81,715 | +€103,987 | |
| Profit (loss) for the period | 9904 | -€22,272 | €81,715 | +€103,987 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,272 | €81,715 | +€103,987 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.