HALL9: 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.
HALL9
Largest movements
- Tangible fixed assets -€57,271
down €57,271 (-7.3%), from €789,327 to €732,057
of which Plant, machinery and equipment: -€49,017
- Financial fixed assets +€16,887
up €16,887 (+123.8%), from €13,638 to €30,525
- Deferred charges and accrued income +€15,658
new in 2025: €15,658
- Receivables within one year -€9,985
down €9,985 (-11.9%), from €84,080 to €74,095
of which Trade receivables: -€66,730
- Other debts +€102,071
up €102,071 (+41.6%), from €245,317 to €347,388
- Profit (loss) carried forward -€101,023
down €101,023 (-41.0%), from -€246,267 to -€347,291
- Debts after one year -€79,068
down €79,068 (-16.0%), from €493,847 to €414,778
- Current portion of long-term debt +€72,283
up €72,283 (+43.0%), from €168,182 to €240,464
- Trade debts -€19,863
down €19,863 (-54.2%), from €36,658 to €16,796
- Gross operating margin -€36,792
down €36,792 (-36.1%), from €101,993 to €65,201
- Staff costs -€14,665
down €14,665 (-18.3%), from €80,172 to €65,508
- Financial charges -€8,230
down €8,230 (-18.2%), from €45,153 to €36,924
- Depreciation +€4,161
up €4,161 (+6.4%), from €65,399 to €69,560
- Other operating charges +€3,443
up €3,443 (+2754.0%), from €125 to €3,568
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 | €907,703 | €872,129 | -€35,574 | -3.9% |
| Formation expenses | 20 | €472 | €291 | -€181 | -38.4% |
| Fixed assets | 21/28 | €802,965 | €762,581 | -€40,384 | -5.0% |
| Tangible fixed assets | 22/27 | €789,327 | €732,057 | -€57,271 | -7.3% |
| Land and buildings | 22 | €54,843 | €51,835 | -€3,008 | -5.5% |
| Plant, machinery and equipment | 23 | €716,452 | €667,435 | -€49,017 | -6.8% |
| Furniture and vehicles | 24 | €18,033 | €12,787 | -€5,246 | -29.1% |
| Financial fixed assets | 28 | €13,638 | €30,525 | +€16,887 | +123.8% |
| Current assets | 29/58 | €104,266 | €109,257 | +€4,991 | +4.8% |
| Stocks and contracts in progress | 3 | €1,932 | €3,897 | +€1,965 | +101.7% |
| Stocks | 30/36 | €1,932 | €3,897 | +€1,965 | +101.7% |
| Amounts receivable within one year | 40/41 | €84,080 | €74,095 | -€9,985 | -11.9% |
| Trade receivables | 40 | €68,502 | €1,772 | -€66,730 | -97.4% |
| Other amounts receivable | 41 | €15,578 | €72,323 | +€56,745 | +364.3% |
| Cash at bank and in hand | 54/58 | €18,254 | €15,608 | -€2,646 | -14.5% |
| Deferred charges and accrued income | 490/1 | - | €15,658 | +€15,658 | |
| Total equity and liabilities | 10/49 | €907,703 | €872,129 | -€35,574 | -3.9% |
| Equity | 10/15 | -€113,025 | -€221,057 | -€108,033 | -95.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€246,267 | -€347,291 | -€101,023 | -41.0% |
| Investment grants | 15 | €123,243 | €116,233 | -€7,009 | -5.7% |
| Provisions and deferred taxes | 16 | €41,081 | €38,745 | -€2,336 | -5.7% |
| Deferred taxes | 168 | €41,081 | €38,745 | -€2,336 | -5.7% |
| Amounts payable | 17/49 | €979,647 | €1,054,442 | +€74,795 | +7.6% |
| Amounts payable after more than one year | 17 | €493,847 | €414,778 | -€79,068 | -16.0% |
| Financial debts | 170/4 | €493,847 | €414,778 | -€79,068 | -16.0% |
| Amounts payable within one year | 42/48 | €464,874 | €621,474 | +€156,600 | +33.7% |
| Current portion of amounts payable after more than one year | 42 | €168,182 | €240,464 | +€72,283 | +43.0% |
| Trade debts | 44 | €36,658 | €16,796 | -€19,863 | -54.2% |
| Suppliers | 440/4 | €36,658 | €16,796 | -€19,863 | -54.2% |
| Taxes, remuneration and social security | 45 | €14,717 | €16,827 | +€2,110 | +14.3% |
| Taxes | 450/3 | €14,717 | €2,276 | -€12,441 | -84.5% |
| Remuneration and social security | 454/9 | - | €14,550 | +€14,550 | |
| Other amounts payable | 47/48 | €245,317 | €347,388 | +€102,071 | +41.6% |
| Accrued charges and deferred income | 492/3 | €20,927 | €18,190 | -€2,737 | -13.1% |
| Remuneration, social security and pensions | 62 | €80,172 | €65,508 | -€14,665 | -18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,399 | €69,560 | +€4,161 | +6.4% |
| Other operating charges | 640/8 | €125 | €3,568 | +€3,443 | +2754.0% |
| Gross operating margin | 9900 | €101,993 | €65,201 | -€36,792 | -36.1% |
| Operating profit (loss) | 9901 | -€43,703 | -€73,434 | -€29,731 | -68.0% |
| Financial income | 75/76B | €7,013 | €6,998 | -€15 | -0.2% |
| Recurring financial income | 75 | €7,013 | €6,998 | -€15 | -0.2% |
| Financial charges | 65/66B | €45,153 | €36,924 | -€8,230 | -18.2% |
| Recurring financial charges | 65 | €45,153 | €36,924 | -€8,230 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | -€81,844 | -€103,360 | -€21,516 | -26.3% |
| Transfer from deferred taxes | 780 | €2,336 | €2,336 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€79,507 | -€101,023 | -€21,516 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,507 | -€101,023 | -€21,516 | -27.1% |
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 6 October 2026 via checked.be.