HALU: 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.
HALU
Largest movements
- Cash -€110,024
down €110,024 (-79.8%), from €137,802 to €27,779
mainly Debts after one year (-€130,165) and Net result for the year (-€74,681)
- Intangible fixed assets -€30,398
down €30,398 (-100.0%), from €30,398 to €0
- Receivables within one year -€28,699
down €28,699 (-28.3%), from €101,288 to €72,588
of which Other amounts receivable: -€25,966
- Tangible fixed assets +€9,678
up €9,678 (+1.5%), from €650,573 to €660,251
of which Land and buildings: +€75,407
- Debts after one year -€130,165
down €130,165 (-37.3%), from €349,145 to €218,980
- Profit (loss) carried forward -€74,681
down €74,681 (-365.1%), from -€20,457 to -€95,138
- Other debts +€26,907
new in 2025: €26,907
- Current portion of long-term debt +€19,306
up €19,306 (+28.2%), from €68,421 to €87,727
- Gross operating margin -€113,701
down €113,701 (-91.8%), from €123,924 to €10,223
- Depreciation +€6,126
up €6,126 (+8.9%), from €69,029 to €75,155
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 | €920,061 | €760,874 | -€159,187 | -17.3% |
| Fixed assets | 21/28 | €680,971 | €660,251 | -€20,720 | -3.0% |
| Intangible fixed assets | 21 | €30,398 | €0 | -€30,398 | -100.0% |
| Tangible fixed assets | 22/27 | €650,573 | €660,251 | +€9,678 | +1.5% |
| Land and buildings | 22 | €549,166 | €624,572 | +€75,407 | +13.7% |
| Plant, machinery and equipment | 23 | €4,273 | €9,123 | +€4,850 | +113.5% |
| Furniture and vehicles | 24 | €51,608 | €829 | -€50,779 | -98.4% |
| Leasing and similar rights | 25 | €45,526 | €25,726 | -€19,800 | -43.5% |
| Current assets | 29/58 | €239,090 | €100,623 | -€138,467 | -57.9% |
| Amounts receivable within one year | 40/41 | €101,288 | €72,588 | -€28,699 | -28.3% |
| Trade receivables | 40 | €2,915 | €182 | -€2,733 | -93.8% |
| Other amounts receivable | 41 | €98,373 | €72,406 | -€25,966 | -26.4% |
| Cash at bank and in hand | 54/58 | €137,802 | €27,779 | -€110,024 | -79.8% |
| Deferred charges and accrued income | 490/1 | - | €256 | +€256 | |
| Total equity and liabilities | 10/49 | €920,061 | €760,874 | -€159,187 | -17.3% |
| Equity | 10/15 | €488,273 | €413,592 | -€74,681 | -15.3% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €8,730 | €8,730 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,360 | €7,360 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,360 | €7,360 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,370 | €1,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,457 | -€95,138 | -€74,681 | -365.1% |
| Amounts payable | 17/49 | €431,788 | €347,282 | -€84,506 | -19.6% |
| Amounts payable after more than one year | 17 | €349,145 | €218,980 | -€130,165 | -37.3% |
| Financial debts | 170/4 | €349,145 | €218,980 | -€130,165 | -37.3% |
| Amounts payable within one year | 42/48 | €82,643 | €128,302 | +€45,659 | +55.2% |
| Current portion of amounts payable after more than one year | 42 | €68,421 | €87,727 | +€19,306 | +28.2% |
| Trade debts | 44 | €10,795 | €3,101 | -€7,694 | -71.3% |
| Suppliers | 440/4 | €10,795 | €3,101 | -€7,694 | -71.3% |
| Taxes, remuneration and social security | 45 | €3,427 | €10,566 | +€7,139 | +208.3% |
| Taxes | 450/3 | €446 | €7,567 | +€7,121 | +1596.1% |
| Remuneration and social security | 454/9 | €2,981 | €2,999 | +€18 | +0.6% |
| Other amounts payable | 47/48 | - | €26,907 | +€26,907 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,029 | €75,155 | +€6,126 | +8.9% |
| Other operating charges | 640/8 | €5,365 | €5,751 | +€386 | +7.2% |
| Gross operating margin | 9900 | €123,924 | €10,223 | -€113,701 | -91.8% |
| Operating profit (loss) | 9901 | €49,530 | -€70,683 | -€120,213 | |
| Financial income | 75/76B | €1,070 | €1,198 | +€128 | +11.9% |
| Recurring financial income | 75 | €1,070 | €1,198 | +€128 | +11.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €4,215 | €4,958 | +€742 | +17.6% |
| Recurring financial charges | 65 | €4,215 | €4,958 | +€742 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €46,385 | -€74,443 | -€120,828 | |
| Income taxes | 67/77 | €173 | €238 | +€65 | +37.4% |
| Profit (loss) for the period | 9904 | €46,211 | -€74,681 | -€120,893 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,211 | -€74,681 | -€120,893 |
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 3 October 2026 via checked.be.