HAMALCO: what changed
What changed
HAMALCO
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€21,420
2024 · €322,176-€300,756
Equity
€610,589
2024 · €692,593-€82,004
Cash
€388,924
2024 · €375,095+€13,829
Balance sheet total
€1.2m
2024 · €947,313+€297,870
Largest movements
Assets
- Tangible fixed assets +€432,716
up €432,716 (+188%), from €229,999 to €662,715
of which Land and buildings: +€357,789
- Stocks and contracts -€161,317
down €161,317 (-75.1%), from €214,804 to €53,487
of which Contracts in progress: -€147,520
- Cash +€13,829
up €13,829 (+3.7%), from €375,095 to €388,924
mainly Debts after one year (+€285,892) and Stocks and contracts (+€161,317)
Equity and liabilities
- Debts after one year +€285,892
up €285,892 (+362%), from €79,022 to €364,914
- Other debts +€117,589
up €117,589 (+961%), from €12,236 to €129,825
- Reserves -€82,004
down €82,004 (-12.2%), from €673,993 to €591,989
- Tax, wage and social debts -€25,742
down €25,742 (-47.4%), from €54,338 to €28,596
of which Taxes: -€30,939
- Accrued charges and deferred income -€23,614
down €23,614 (-100%), from €23,614 to €0
Income statement
- Gross operating margin -€401,552
down €401,552 (-56.6%), from €709,280 to €307,728
- Taxes -€129,638
down €129,638 (-91.4%), from €141,826 to €12,188
- Depreciation +€15,269
up €15,269 (+54.7%), from €27,931 to €43,199
- Staff costs +€10,134
up €10,134 (+5.1%), from €200,590 to €210,723
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€322,176
Gross operating margin
-€401,552
Staff costs
-€10,134
Depreciation
-€15,269
Other operating charges
-€1,546
Other operating items
-€4,546
Financial income
-€1,874
Financial charges
+€4,527
Taxes
+€129,638
Result 2025
€21,420
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€287,760
Investment
-€475,916
Financing
+€201,985
Cash 2024
€375,095
From operations (derived)
+€287,760
Net result for the year
+€21,420
Depreciation
+€43,199
Stocks and contracts
+€161,317
Receivables within one year
-€7,198
Deferred charges and accrued income
-€5,444
Trade debts
+€6,232
Tax, wage and social debts
-€25,742
Other debts
+€117,589
Accrued charges and deferred income
-€23,614
Investment (derived)
-€475,916
Investment in fixed assets (net)
-€475,916
Financing
+€201,985
Debts after one year
+€285,892
Current portion of long-term debt
+€17,967
Short-term financial debts
+€1,550
Contributions, distributions and other
-€103,424
Cash 2025
€388,924
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €947,313 | €1,245,182 | +€297,870 | +31.4% |
| Fixed assets | 21/28 | €231,519 | €664,235 | +€432,716 | +187% |
| Tangible fixed assets | 22/27 | €229,999 | €662,715 | +€432,716 | +188% |
| Land and buildings | 22 | €180,165 | €537,954 | +€357,789 | +199% |
| Plant, machinery and equipment | 23 | €6,998 | €5,734 | -€1,264 | -18.1% |
| Furniture and vehicles | 24 | €42,837 | €54,925 | +€12,088 | +28.2% |
| Leasing and similar rights | 25 | - | €64,103 | +€64,103 | |
| Financial fixed assets | 28 | €1,520 | €1,520 | = | 0.0% |
| Current assets | 29/58 | €715,793 | €580,947 | -€134,846 | -18.8% |
| Stocks and contracts in progress | 3 | €214,804 | €53,487 | -€161,317 | -75.1% |
| Stocks | 30/36 | €67,284 | €53,487 | -€13,797 | -20.5% |
| Contracts in progress | 37 | €147,520 | €0 | -€147,520 | -100% |
| Amounts receivable within one year | 40/41 | €111,863 | €119,062 | +€7,198 | +6.4% |
| Trade receivables | 40 | €108,251 | €81,270 | -€26,981 | -24.9% |
| Other amounts receivable | 41 | €3,613 | €37,792 | +€34,179 | +946% |
| Cash at bank and in hand | 54/58 | €375,095 | €388,924 | +€13,829 | +3.7% |
| Deferred charges and accrued income | 490/1 | €14,030 | €19,474 | +€5,444 | +38.8% |
| Total equity and liabilities | 10/49 | €947,313 | €1,245,182 | +€297,870 | +31.4% |
| Equity | 10/15 | €692,593 | €610,589 | -€82,004 | -11.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €673,993 | €591,989 | -€82,004 | -12.2% |
| Distributable reserves | 133 | €673,993 | €591,989 | -€82,004 | -12.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €254,720 | €634,594 | +€379,874 | +149% |
| Amounts payable after more than one year | 17 | €79,022 | €364,914 | +€285,892 | +362% |
| Financial debts | 170/4 | €79,022 | €364,914 | +€285,892 | +362% |
| Amounts payable within one year | 42/48 | €152,083 | €269,680 | +€117,596 | +77.3% |
| Current portion of amounts payable after more than one year | 42 | €34,250 | €52,217 | +€17,967 | +52.5% |
| Financial debts | 43 | €240 | €1,790 | +€1,550 | +647% |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €240 | €1,790 | +€1,550 | +647% |
| Trade debts | 44 | €51,020 | €57,252 | +€6,232 | +12.2% |
| Suppliers | 440/4 | €51,020 | €57,252 | +€6,232 | +12.2% |
| Taxes, remuneration and social security | 45 | €54,338 | €28,596 | -€25,742 | -47.4% |
| Taxes | 450/3 | €34,043 | €3,104 | -€30,939 | -90.9% |
| Remuneration and social security | 454/9 | €20,295 | €25,492 | +€5,197 | +25.6% |
| Other amounts payable | 47/48 | €12,236 | €129,825 | +€117,589 | +961% |
| Accrued charges and deferred income | 492/3 | €23,614 | €0 | -€23,614 | -100% |
| Non-recurring operating income | 76A | €4,540 | €9,830 | +€5,290 | +117% |
| Remuneration, social security and pensions | 62 | €200,590 | €210,723 | +€10,134 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,931 | €43,199 | +€15,269 | +54.7% |
| Other operating charges | 640/8 | €3,418 | €4,963 | +€1,546 | +45.2% |
| Non-recurring operating charges | 66A | - | €4,546 | +€4,546 | |
| Gross operating margin | 9900 | €709,280 | €307,728 | -€401,552 | -56.6% |
| Operating profit (loss) | 9901 | €477,342 | €44,295 | -€433,047 | -90.7% |
| Financial income | 75/76B | €7,888 | €6,014 | -€1,874 | -23.8% |
| Recurring financial income | 75 | €7,888 | €6,014 | -€1,874 | -23.8% |
| Financial charges | 65/66B | €21,229 | €16,702 | -€4,527 | -21.3% |
| Recurring financial charges | 65 | €21,229 | €16,702 | -€4,527 | -21.3% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €464,002 | €33,608 | -€430,394 | -92.8% |
| Income taxes | 67/77 | €141,826 | €12,188 | -€129,638 | -91.4% |
| Profit (loss) for the period | 9904 | €322,176 | €21,420 | -€300,756 | -93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €322,176 | €21,420 | -€300,756 | -93.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.