Handley: 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.
Handley
Largest movements
- Cash -€88,116
down €88,116 (-61.5%), from €143,293 to €55,177
mainly Other debts (-€94,332) and Tax, wage and social debts (-€14,784)
- Receivables within one year +€8,656
up €8,656 (+9.2%), from €94,223 to €102,879
of which Trade receivables: +€11,977
- Tangible fixed assets +€4,909
up €4,909 (+271%), from €1,815 to €6,724
- Deferred charges and accrued income -€4,206
down €4,206 (-59.1%), from €7,121 to €2,915
- Other debts -€94,332
down €94,332 (-62.9%), from €149,958 to €55,626
- Reserves +€15,677
new in 2025: €15,677
- Tax, wage and social debts -€14,784
down €14,784 (-33.5%), from €44,101 to €29,316
of which Taxes: -€18,592
- Trade debts +€14,119
up €14,119 (+58.5%), from €24,152 to €38,271
- Gross operating margin -€45,066
down €45,066 (-24.7%), from €182,731 to €137,665
- Staff costs +€16,278
up €16,278 (+17.2%), from €94,415 to €110,692
- Taxes -€15,223
down €15,223 (-67.3%), from €22,605 to €7,382
- Financial income -€1,968
down €1,968 (-95.4%), from €2,063 to €95
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 | €262,692 | €182,891 | -€79,801 | -30.4% |
| Fixed assets | 21/28 | €11,955 | €15,420 | +€3,465 | +29.0% |
| Intangible fixed assets | 21 | €5,640 | €4,196 | -€1,444 | -25.6% |
| Tangible fixed assets | 22/27 | €1,815 | €6,724 | +€4,909 | +271% |
| Furniture and vehicles | 24 | €1,815 | €6,724 | +€4,909 | +271% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €250,737 | €167,471 | -€83,266 | -33.2% |
| Stocks and contracts in progress | 3 | €6,100 | €6,500 | +€400 | +6.6% |
| Stocks | 30/36 | €6,100 | €6,500 | +€400 | +6.6% |
| Amounts receivable within one year | 40/41 | €94,223 | €102,879 | +€8,656 | +9.2% |
| Trade receivables | 40 | €51,081 | €63,059 | +€11,977 | +23.4% |
| Other amounts receivable | 41 | €43,142 | €39,820 | -€3,322 | -7.7% |
| Cash at bank and in hand | 54/58 | €143,293 | €55,177 | -€88,116 | -61.5% |
| Deferred charges and accrued income | 490/1 | €7,121 | €2,915 | -€4,206 | -59.1% |
| Total equity and liabilities | 10/49 | €262,692 | €182,891 | -€79,801 | -30.4% |
| Equity | 10/15 | €44,000 | €59,677 | +€15,677 | +35.6% |
| Contributions | 10/11 | €44,000 | €44,000 | = | 0.0% |
| Reserves | 13 | - | €15,677 | +€15,677 | |
| Distributable reserves | 133 | - | €15,677 | +€15,677 | |
| Amounts payable | 17/49 | €218,692 | €123,214 | -€95,478 | -43.7% |
| Amounts payable within one year | 42/48 | €218,692 | €123,214 | -€95,478 | -43.7% |
| Financial debts | 43 | €481 | - | -€481 | |
| Credit institutions | 430/8 | €481 | - | -€481 | |
| Trade debts | 44 | €24,152 | €38,271 | +€14,119 | +58.5% |
| Suppliers | 440/4 | €24,152 | €38,271 | +€14,119 | +58.5% |
| Taxes, remuneration and social security | 45 | €44,101 | €29,316 | -€14,784 | -33.5% |
| Taxes | 450/3 | €36,723 | €18,131 | -€18,592 | -50.6% |
| Remuneration and social security | 454/9 | €7,378 | €11,185 | +€3,807 | +51.6% |
| Other amounts payable | 47/48 | €149,958 | €55,626 | -€94,332 | -62.9% |
| Remuneration, social security and pensions | 62 | €94,415 | €110,692 | +€16,278 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,478 | €3,048 | -€1,431 | -31.9% |
| Other operating charges | 640/8 | €387 | €445 | +€58 | +14.9% |
| Gross operating margin | 9900 | €182,731 | €137,665 | -€45,066 | -24.7% |
| Operating profit (loss) | 9901 | €83,451 | €23,480 | -€59,971 | -71.9% |
| Financial income | 75/76B | €2,063 | €95 | -€1,968 | -95.4% |
| Recurring financial income | 75 | €2,063 | €95 | -€1,968 | -95.4% |
| Financial charges | 65/66B | €770 | €516 | -€254 | -33.0% |
| Recurring financial charges | 65 | €770 | €516 | -€254 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €84,744 | €23,059 | -€61,685 | -72.8% |
| Income taxes | 67/77 | €22,605 | €7,382 | -€15,223 | -67.3% |
| Profit (loss) for the period | 9904 | €62,138 | €15,677 | -€46,461 | -74.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,138 | €15,677 | -€46,461 | -74.8% |
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 16 October 2026 via checked.be.