Halyard: 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.
Halyard
Largest movements
- Tangible fixed assets -€21,798
down €21,798 (-30.9%), from €70,459 to €48,661
of which Other tangible fixed assets: -€15,412
- Cash +€10,949
up €10,949 (+49.4%), from €22,162 to €33,111
mainly Depreciation (+€27,429) and Net result for the year (+€16,585)
- Receivables within one year -€2,523
down €2,523 (-5.9%), from €42,715 to €40,192
of which Trade receivables: -€2,464
- Other debts -€14,291
down €14,291 (-27.5%), from €52,020 to €37,729
- Tax, wage and social debts +€12,487
up €12,487 (+101%), from €12,386 to €24,872
of which Taxes: +€10,653
- Debts after one year -€12,422
down €12,422 (-21.0%), from €59,219 to €46,797
- Depreciation +€3,438
up €3,438 (+14.3%), from €23,991 to €27,429
- Gross operating margin +€2,436
up €2,436 (+5.0%), from €48,770 to €51,206
- Financial charges -€982
down €982 (-48.0%), from €2,048 to €1,066
- Other operating charges +€570
up €570 (+319%), from €179 to €749
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 | €137,925 | €124,075 | -€13,850 | -10.0% |
| Fixed assets | 21/28 | €70,459 | €48,661 | -€21,798 | -30.9% |
| Tangible fixed assets | 22/27 | €70,459 | €48,661 | -€21,798 | -30.9% |
| Plant, machinery and equipment | 23 | €2,017 | €5,827 | +€3,809 | +189% |
| Furniture and vehicles | 24 | €33,195 | €23,000 | -€10,195 | -30.7% |
| Other tangible fixed assets | 26 | €35,247 | €19,835 | -€15,412 | -43.7% |
| Current assets | 29/58 | €67,466 | €75,414 | +€7,948 | +11.8% |
| Stocks and contracts in progress | 3 | €2,000 | €2,000 | = | 0.0% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €42,715 | €40,192 | -€2,523 | -5.9% |
| Trade receivables | 40 | €42,332 | €39,868 | -€2,464 | -5.8% |
| Other amounts receivable | 41 | €383 | €324 | -€59 | -15.4% |
| Cash at bank and in hand | 54/58 | €22,162 | €33,111 | +€10,949 | +49.4% |
| Deferred charges and accrued income | 490/1 | €590 | €112 | -€479 | -81.1% |
| Total equity and liabilities | 10/49 | €137,925 | €124,075 | -€13,850 | -10.0% |
| Equity | 10/15 | €2,000 | €2,000 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €135,925 | €122,075 | -€13,850 | -10.2% |
| Amounts payable after more than one year | 17 | €59,219 | €46,797 | -€12,422 | -21.0% |
| Financial debts | 170/4 | €59,219 | €46,797 | -€12,422 | -21.0% |
| Amounts payable within one year | 42/48 | €76,707 | €75,279 | -€1,428 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €12,124 | €11,483 | -€642 | -5.3% |
| Trade debts | 44 | €176 | €1,194 | +€1,018 | +577% |
| Suppliers | 440/4 | €176 | €1,194 | +€1,018 | +577% |
| Taxes, remuneration and social security | 45 | €12,386 | €24,872 | +€12,487 | +101% |
| Taxes | 450/3 | €12,386 | €23,039 | +€10,653 | +86.0% |
| Remuneration and social security | 454/9 | €0 | €1,834 | +€1,834 | |
| Other amounts payable | 47/48 | €52,020 | €37,729 | -€14,291 | -27.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,991 | €27,429 | +€3,438 | +14.3% |
| Other operating charges | 640/8 | €179 | €749 | +€570 | +319% |
| Gross operating margin | 9900 | €48,770 | €51,206 | +€2,436 | +5.0% |
| Operating profit (loss) | 9901 | €24,601 | €23,028 | -€1,572 | -6.4% |
| Financial income | 75/76B | €31 | €1 | -€31 | -98.4% |
| Recurring financial income | 75 | €31 | €1 | -€31 | -98.4% |
| Financial charges | 65/66B | €2,048 | €1,066 | -€982 | -48.0% |
| Recurring financial charges | 65 | €2,048 | €1,066 | -€982 | -48.0% |
| Profit (loss) for the period before taxes | 9903 | €22,584 | €21,963 | -€621 | -2.7% |
| Income taxes | 67/77 | €5,200 | €5,378 | +€178 | +3.4% |
| Profit (loss) for the period | 9904 | €17,383 | €16,585 | -€799 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,383 | €16,585 | -€799 | -4.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.