HaLo: 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.
HaLo
Largest movements
- Tangible fixed assets -€19,886
down €19,886 (-3.4%), from €589,793 to €569,907
of which Land and buildings: -€20,036
- Cash +€6,372
up €6,372 (+34.3%), from €18,559 to €24,931
mainly Depreciation (+€29,440) and Accrued charges and deferred income (+€20,533)
- Other debts -€20,909
down €20,909 (-7.6%), from €275,097 to €254,188
- Accrued charges and deferred income +€20,533
up €20,533 (+72.5%), from €28,317 to €48,850
- Profit (loss) carried forward -€10,894
down €10,894 (-97.9%), from -€11,124 to -€22,018
- Trade debts -€6,538
down €6,538 (-89.0%), from €7,349 to €811
- Gross operating margin -€30,394
down €30,394 (-44.2%), from €68,766 to €38,373
- Depreciation -€3,587
down €3,587 (-10.9%), from €33,026 to €29,440
- Other operating charges +€2,800
up €2,800 (+221%), from €1,268 to €4,069
- Financial charges -€2,641
down €2,641 (-14.4%), from €18,343 to €15,702
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 | €625,848 | €607,866 | -€17,982 | -2.9% |
| Fixed assets | 21/28 | €589,793 | €569,907 | -€19,886 | -3.4% |
| Tangible fixed assets | 22/27 | €589,793 | €569,907 | -€19,886 | -3.4% |
| Land and buildings | 22 | €587,127 | €567,092 | -€20,036 | -3.4% |
| Plant, machinery and equipment | 23 | €369 | €248 | -€121 | -32.8% |
| Furniture and vehicles | 24 | €2,297 | €2,568 | +€271 | +11.8% |
| Current assets | 29/58 | €36,055 | €37,959 | +€1,904 | +5.3% |
| Amounts receivable within one year | 40/41 | €10,622 | €8,105 | -€2,517 | -23.7% |
| Trade receivables | 40 | €2,179 | €2,579 | +€399 | +18.3% |
| Other amounts receivable | 41 | €8,443 | €5,527 | -€2,916 | -34.5% |
| Cash at bank and in hand | 54/58 | €18,559 | €24,931 | +€6,372 | +34.3% |
| Deferred charges and accrued income | 490/1 | €6,874 | €4,923 | -€1,951 | -28.4% |
| Total equity and liabilities | 10/49 | €625,848 | €607,866 | -€17,982 | -2.9% |
| Equity | 10/15 | €313,876 | €302,982 | -€10,894 | -3.5% |
| Contributions | 10/11 | €325,000 | €325,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,124 | -€22,018 | -€10,894 | -97.9% |
| Amounts payable | 17/49 | €311,972 | €304,884 | -€7,089 | -2.3% |
| Amounts payable within one year | 42/48 | €283,656 | €256,034 | -€27,622 | -9.7% |
| Trade debts | 44 | €7,349 | €811 | -€6,538 | -89.0% |
| Suppliers | 440/4 | €7,349 | €811 | -€6,538 | -89.0% |
| Taxes, remuneration and social security | 45 | €1,209 | €1,035 | -€174 | -14.4% |
| Taxes | 450/3 | €1,209 | €1,035 | -€174 | -14.4% |
| Other amounts payable | 47/48 | €275,097 | €254,188 | -€20,909 | -7.6% |
| Accrued charges and deferred income | 492/3 | €28,317 | €48,850 | +€20,533 | +72.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,026 | €29,440 | -€3,587 | -10.9% |
| Other operating charges | 640/8 | €1,268 | €4,069 | +€2,800 | +221% |
| Gross operating margin | 9900 | €68,766 | €38,373 | -€30,394 | -44.2% |
| Operating profit (loss) | 9901 | €34,472 | €4,864 | -€29,608 | -85.9% |
| Financial charges | 65/66B | €18,343 | €15,702 | -€2,641 | -14.4% |
| Recurring financial charges | 65 | €18,343 | €15,702 | -€2,641 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €16,129 | -€10,838 | -€26,967 | |
| Income taxes | 67/77 | €54 | €56 | +€2 | +3.1% |
| Profit (loss) for the period | 9904 | €16,075 | -€10,894 | -€26,968 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,075 | -€10,894 | -€26,968 |
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.