HANEDEC: 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.
HANEDEC
Largest movements
- Tangible fixed assets -€37,138
down €37,138 (-4.1%), from €898,530 to €861,392
of which Land and buildings: -€36,727
- Receivables within one year +€10,113
up €10,113 (+323%), from €3,128 to €13,241
of which Other amounts receivable: +€9,842
- Cash -€9,984
down €9,984 (-68.8%), from €14,502 to €4,518
mainly Debts after one year (-€24,016) and Tax, wage and social debts (-€11,686)
- Debts after one year -€24,016
down €24,016 (-3.3%), from €725,526 to €701,510
of which Financial debts: -€13,031
- Tax, wage and social debts -€11,686
no longer reported in 2025 (was €11,686)
- Gross operating margin -€34,754
down €34,754 (-37.5%), from €92,668 to €57,914
- Taxes -€8,714
down €8,714 (-98.2%), from €8,872 to €158
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 | €923,260 | €880,023 | -€43,237 | -4.7% |
| Fixed assets | 21/28 | €898,577 | €861,439 | -€37,138 | -4.1% |
| Tangible fixed assets | 22/27 | €898,530 | €861,392 | -€37,138 | -4.1% |
| Land and buildings | 22 | €896,862 | €860,135 | -€36,727 | -4.1% |
| Furniture and vehicles | 24 | €1,668 | €1,257 | -€411 | -24.6% |
| Financial fixed assets | 28 | €47 | €47 | = | 0.0% |
| Current assets | 29/58 | €24,683 | €18,584 | -€6,099 | -24.7% |
| Amounts receivable within one year | 40/41 | €3,128 | €13,241 | +€10,113 | +323% |
| Trade receivables | 40 | - | €271 | +€271 | |
| Other amounts receivable | 41 | €3,128 | €12,970 | +€9,842 | +315% |
| Cash at bank and in hand | 54/58 | €14,502 | €4,518 | -€9,984 | -68.8% |
| Deferred charges and accrued income | 490/1 | €7,053 | €825 | -€6,228 | -88.3% |
| Total equity and liabilities | 10/49 | €923,260 | €880,023 | -€43,237 | -4.7% |
| Equity | 10/15 | €158,565 | €159,039 | +€474 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €139,965 | €140,439 | +€474 | +0.3% |
| Distributable reserves | 133 | €139,965 | €140,439 | +€474 | +0.3% |
| Amounts payable | 17/49 | €764,695 | €720,984 | -€43,710 | -5.7% |
| Amounts payable after more than one year | 17 | €725,526 | €701,510 | -€24,016 | -3.3% |
| Financial debts | 170/4 | €375,966 | €362,935 | -€13,031 | -3.5% |
| Trade debts | 175 | €349,561 | €338,575 | -€10,986 | -3.1% |
| Amounts payable within one year | 42/48 | €39,148 | €18,804 | -€20,344 | -52.0% |
| Current portion of amounts payable after more than one year | 42 | €24,794 | €16,624 | -€8,170 | -33.0% |
| Trade debts | 44 | €958 | €470 | -€488 | -50.9% |
| Suppliers | 440/4 | €958 | €470 | -€488 | -50.9% |
| Taxes, remuneration and social security | 45 | €11,686 | - | -€11,686 | |
| Taxes | 450/3 | €11,686 | - | -€11,686 | |
| Other amounts payable | 47/48 | €1,710 | €1,710 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €20 | €670 | +€650 | +3,250% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,853 | €37,868 | +€15 | 0.0% |
| Other operating charges | 640/8 | €10,888 | €11,230 | +€342 | +3.1% |
| Gross operating margin | 9900 | €92,668 | €57,914 | -€34,754 | -37.5% |
| Operating profit (loss) | 9901 | €43,928 | €8,816 | -€35,111 | -79.9% |
| Financial income | 75/76B | €41 | - | -€41 | |
| Recurring financial income | 75 | €41 | - | -€41 | |
| Financial charges | 65/66B | €8,781 | €8,185 | -€596 | -6.8% |
| Recurring financial charges | 65 | €8,781 | €8,185 | -€596 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €35,188 | €631 | -€34,557 | -98.2% |
| Income taxes | 67/77 | €8,872 | €158 | -€8,714 | -98.2% |
| Profit (loss) for the period | 9904 | €26,317 | €474 | -€25,843 | -98.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,317 | €474 | -€25,843 | -98.2% |
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 18 October 2026 via checked.be.