HAMKO: what changed
HAMKO
Largest movements
- Cash +€87,006
up €87,006 (+220%), from €39,499 to €126,504
mainly Net result for the year (+€435,728) and Other debts (+€50,000)
- Financial fixed assets +€82,500
up €82,500 (+3.7%), from €2.2m to €2.3m
- Receivables within one year +€37,019
up €37,019 (+202%), from €18,286 to €55,305
of which Other amounts receivable: +€37,019
- Tangible fixed assets -€35,421
down €35,421 (-100%), from €35,421 to €0
- Reserves +€235,728
up €235,728 (+8.5%), from €2.8m to €3.0m
of which Distributable reserves: +€371,601
- Debts after one year -€114,613
down €114,613 (-45.8%), from €250,012 to €135,399
- Other debts +€50,000
up €50,000 (+33.3%), from €150,000 to €200,000
- Gross operating margin -€228,965
down €228,965 (-33.4%), from €686,179 to €457,214
- Taxes -€70,326
down €70,326 (-50.7%), from €138,819 to €68,493
- Financial income +€29,663
up €29,663 (+162%), from €18,318 to €47,980
of which Financial income: +€29,584
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,336,941 | €3,508,056 | +€171,115 | +5.1% |
| Fixed assets | 21/28 | €2,279,156 | €2,326,235 | +€47,079 | +2.1% |
| Tangible fixed assets | 22/27 | €35,421 | €0 | -€35,421 | -100% |
| Furniture and vehicles | 24 | €35,421 | €0 | -€35,421 | -100% |
| Financial fixed assets | 28 | €2,243,735 | €2,326,235 | +€82,500 | +3.7% |
| Current assets | 29/58 | €1,057,785 | €1,181,821 | +€124,036 | +11.7% |
| Amounts receivable within one year | 40/41 | €18,286 | €55,305 | +€37,019 | +202% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €18,286 | €55,305 | +€37,019 | +202% |
| Current investments | 50/53 | €1,000,000 | €1,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €39,499 | €126,504 | +€87,006 | +220% |
| Deferred charges and accrued income | 490/1 | €0 | €11 | +€11 | |
| Total equity and liabilities | 10/49 | €3,336,941 | €3,508,056 | +€171,115 | +5.1% |
| Equity | 10/15 | €2,936,930 | €3,172,657 | +€235,728 | +8.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €2,786,930 | €3,022,657 | +€235,728 | +8.5% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €453,667 | €317,794 | -€135,873 | -29.9% |
| Distributable reserves | 133 | €2,318,262 | €2,689,863 | +€371,601 | +16.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €400,012 | €335,399 | -€64,613 | -16.2% |
| Amounts payable after more than one year | 17 | €250,012 | €135,399 | -€114,613 | -45.8% |
| Other amounts payable | 178/9 | €250,012 | €135,399 | -€114,613 | -45.8% |
| Amounts payable within one year | 42/48 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79 | €0 | -€79 | -100% |
| Other operating charges | 640/8 | €507 | €516 | +€9 | +1.7% |
| Gross operating margin | 9900 | €686,179 | €457,214 | -€228,965 | -33.4% |
| Operating profit (loss) | 9901 | €685,594 | €456,699 | -€228,895 | -33.4% |
| Financial income | 75/76B | €18,318 | €47,980 | +€29,663 | +162% |
| Recurring financial income | 75 | €18,318 | €47,901 | +€29,584 | +162% |
| Non-recurring financial income | 76B | €0 | €79 | +€79 | |
| Financial charges | 65/66B | €24 | €459 | +€435 | +1,842% |
| Recurring financial charges | 65 | €24 | €459 | +€435 | +1,842% |
| Profit (loss) for the period before taxes | 9903 | €703,888 | €504,220 | -€199,667 | -28.4% |
| Income taxes | 67/77 | €138,819 | €68,493 | -€70,326 | -50.7% |
| Profit (loss) for the period | 9904 | €565,069 | €435,728 | -€129,341 | -22.9% |
| Transfer from tax-exempt reserves | 789 | €81,345 | €241,123 | +€159,779 | +196% |
| Transfer to tax-exempt reserves | 689 | €0 | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €646,414 | €571,601 | -€74,813 | -11.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.