HAMACH: 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.
HAMACH
Largest movements
- Cash +€3.1m
up €3.1m (+1217.4%), from €254,310 to €3.4m
mainly Debts after one year (+€2.6m) and Current investments (+€2.5m)
- Tangible fixed assets +€3.0m
up €3.0m (+137.8%), from €2.2m to €5.2m
of which Land and buildings: +€3.4m
- Current investments -€2.5m
down €2.5m (-100.0%), from €2.5m to €0
- Receivables within one year +€200,711
up €200,711 (+182.7%), from €109,846 to €310,558
of which Other amounts receivable: +€149,873
- Debts after one year +€2.6m
up €2.6m (+348.9%), from €742,619 to €3.3m
- Other debts +€1.0m
new in 2025: €1.0m
- Reserves -€686,525
down €686,525 (-14.8%), from €4.6m to €3.9m
of which Distributable reserves: -€686,208
- Trade debts +€614,542
up €614,542 (+1930.4%), from €31,834 to €646,377
- Current portion of long-term debt +€345,699
up €345,699 (+352.8%), from €97,988 to €443,686
- Financial income -€391,579
down €391,579 (-44.8%), from €873,119 to €481,540
- Gross operating margin +€65,237
up €65,237 (+41.7%), from €156,387 to €221,624
- Depreciation +€49,905
up €49,905 (+36.4%), from €137,175 to €187,080
- Taxes -€37,374
down €37,374 (-49.6%), from €75,417 to €38,043
- Financial charges +€34,274
up €34,274 (+97.7%), from €35,080 to €69,354
of which Financial charges: +€34,274
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 | €5,640,368 | €9,518,177 | +€3.9m | +68.8% |
| Fixed assets | 21/28 | €2,601,879 | €5,629,001 | +€3.0m | +116.3% |
| Tangible fixed assets | 22/27 | €2,196,524 | €5,223,031 | +€3.0m | +137.8% |
| Land and buildings | 22 | €1,425,192 | €4,783,904 | +€3.4m | +235.7% |
| Plant, machinery and equipment | 23 | €51,362 | €439,128 | +€387,765 | +755.0% |
| Assets under construction and advance payments | 27 | €719,970 | €0 | -€719,970 | -100.0% |
| Financial fixed assets | 28 | €405,355 | €405,970 | +€615 | +0.2% |
| Current assets | 29/58 | €3,038,489 | €3,889,176 | +€850,687 | +28.0% |
| Amounts receivable after more than one year | 29 | €174,333 | €228,333 | +€54,000 | +31.0% |
| Other amounts receivable | 291 | €174,333 | €228,333 | +€54,000 | +31.0% |
| Amounts receivable within one year | 40/41 | €109,846 | €310,558 | +€200,711 | +182.7% |
| Trade receivables | 40 | €39,677 | €90,516 | +€50,838 | +128.1% |
| Other amounts receivable | 41 | €70,169 | €220,042 | +€149,873 | +213.6% |
| Current investments | 50/53 | €2,500,000 | €0 | -€2.5m | -100.0% |
| Cash at bank and in hand | 54/58 | €254,310 | €3,350,285 | +€3.1m | +1217.4% |
| Total equity and liabilities | 10/49 | €5,640,368 | €9,518,177 | +€3.9m | +68.8% |
| Equity | 10/15 | €4,690,716 | €4,004,191 | -€686,525 | -14.6% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €4,627,716 | €3,941,191 | -€686,525 | -14.8% |
| Tax-exempt reserves | 132 | €3,485 | €3,168 | -€317 | -9.1% |
| Distributable reserves | 133 | €4,624,231 | €3,938,023 | -€686,208 | -14.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €1,795 | €1,632 | -€163 | -9.1% |
| Deferred taxes | 168 | €1,795 | €1,632 | -€163 | -9.1% |
| Amounts payable | 17/49 | €947,858 | €5,512,354 | +€4.6m | +481.6% |
| Amounts payable after more than one year | 17 | €742,619 | €3,333,391 | +€2.6m | +348.9% |
| Financial debts | 170/4 | €742,619 | €3,333,391 | +€2.6m | +348.9% |
| Amounts payable within one year | 42/48 | €205,239 | €2,178,963 | +€2.0m | +961.7% |
| Current portion of amounts payable after more than one year | 42 | €97,988 | €443,686 | +€345,699 | +352.8% |
| Trade debts | 44 | €31,834 | €646,377 | +€614,542 | +1930.4% |
| Suppliers | 440/4 | €31,834 | €646,377 | +€614,542 | +1930.4% |
| Taxes, remuneration and social security | 45 | €75,417 | €75,133 | -€284 | -0.4% |
| Taxes | 450/3 | €75,417 | €75,133 | -€284 | -0.4% |
| Other amounts payable | 47/48 | - | €1,013,767 | +€1.0m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,175 | €187,080 | +€49,905 | +36.4% |
| Other operating charges | 640/8 | €28,145 | €28,740 | +€596 | +2.1% |
| Gross operating margin | 9900 | €156,387 | €221,624 | +€65,237 | +41.7% |
| Operating profit (loss) | 9901 | -€8,933 | €5,804 | +€14,737 | |
| Financial income | 75/76B | €873,119 | €481,540 | -€391,579 | -44.8% |
| Recurring financial income | 75 | €873,119 | €481,540 | -€391,579 | -44.8% |
| Financial charges | 65/66B | €35,080 | €69,354 | +€34,274 | +97.7% |
| Recurring financial charges | 65 | €35,080 | €69,354 | +€34,274 | +97.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €829,106 | €417,990 | -€411,116 | -49.6% |
| Transfer from deferred taxes | 780 | €163 | €163 | = | 0.0% |
| Income taxes | 67/77 | €75,417 | €38,043 | -€37,374 | -49.6% |
| Profit (loss) for the period | 9904 | €753,852 | €380,110 | -€373,742 | -49.6% |
| Transfer from tax-exempt reserves | 789 | €317 | €317 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €754,169 | €380,427 | -€373,742 | -49.6% |
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 12 October 2026 via checked.be.