HANGAR 20: 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.
HANGAR 20
Largest movements
- Tangible fixed assets -€7,586
down €7,586 (-17.8%), from €42,514 to €34,928
- Receivables within one year -€7,524
down €7,524 (-34.6%), from €21,755 to €14,231
- Deferred charges and accrued income +€4,090
up €4,090 (+2,711%), from €151 to €4,241
- Cash -€2,605
down €2,605 (-40.4%), from €6,450 to €3,846
mainly Debts after one year (-€8,457) and Deferred charges and accrued income (-€4,090)
- Stocks and contracts +€1,615
up €1,615 (+9.7%), from €16,698 to €18,313
- Debts after one year -€8,457
down €8,457 (-25.1%), from €33,691 to €25,234
- Trade debts -€2,304
down €2,304 (-6.0%), from €38,080 to €35,777
- Tax, wage and social debts -€1,232
down €1,232 (-31.7%), from €3,882 to €2,650
of which Remuneration and social security: -€1,534
- Current portion of long-term debt +€1,193
up €1,193 (+8.2%), from €14,512 to €15,705
- Profit (loss) carried forward -€1,010
down €1,010 (-4.4%), from -€22,904 to -€23,914
- Gross operating margin +€11,106
up €11,106 (+106%), from €10,460 to €21,566
- Depreciation +€1,846
up €1,846 (+31.1%), from €5,940 to €7,786
- Financial charges -€921
down €921 (-19.7%), from €4,684 to €3,763
of which Financial charges: -€550
- Staff costs -€674
down €674 (-7.1%), from €9,488 to €8,814
- Taxes +€610
new in 2025: €610
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 | €88,313 | €76,104 | -€12,210 | -13.8% |
| Fixed assets | 21/28 | €43,259 | €35,473 | -€7,786 | -18.0% |
| Intangible fixed assets | 21 | €745 | €545 | -€200 | -26.8% |
| Tangible fixed assets | 22/27 | €42,514 | €34,928 | -€7,586 | -17.8% |
| Land and buildings | 22 | €31,771 | €28,058 | -€3,712 | -11.7% |
| Plant, machinery and equipment | 23 | €2,675 | €1,945 | -€729 | -27.3% |
| Furniture and vehicles | 24 | €8,069 | €4,925 | -€3,144 | -39.0% |
| Current assets | 29/58 | €45,054 | €40,630 | -€4,424 | -9.8% |
| Stocks and contracts in progress | 3 | €16,698 | €18,313 | +€1,615 | +9.7% |
| Stocks | 30/36 | €16,698 | €18,313 | +€1,615 | +9.7% |
| Amounts receivable within one year | 40/41 | €21,755 | €14,231 | -€7,524 | -34.6% |
| Trade receivables | 40 | €21,755 | €14,231 | -€7,524 | -34.6% |
| Cash at bank and in hand | 54/58 | €6,450 | €3,846 | -€2,605 | -40.4% |
| Deferred charges and accrued income | 490/1 | €151 | €4,241 | +€4,090 | +2,711% |
| Total equity and liabilities | 10/49 | €88,313 | €76,104 | -€12,210 | -13.8% |
| Equity | 10/15 | -€2,252 | -€3,262 | -€1,010 | -44.9% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €18,252 | €18,252 | = | 0.0% |
| Distributable reserves | 133 | €18,252 | €18,252 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€22,904 | -€23,914 | -€1,010 | -4.4% |
| Amounts payable | 17/49 | €90,565 | €79,366 | -€11,199 | -12.4% |
| Amounts payable after more than one year | 17 | €33,691 | €25,234 | -€8,457 | -25.1% |
| Financial debts | 170/4 | €33,691 | €25,234 | -€8,457 | -25.1% |
| Amounts payable within one year | 42/48 | €56,474 | €54,131 | -€2,342 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €14,512 | €15,705 | +€1,193 | +8.2% |
| Trade debts | 44 | €38,080 | €35,777 | -€2,304 | -6.0% |
| Suppliers | 440/4 | €38,080 | €35,777 | -€2,304 | -6.0% |
| Taxes, remuneration and social security | 45 | €3,882 | €2,650 | -€1,232 | -31.7% |
| Taxes | 450/3 | €2,348 | €2,650 | +€302 | +12.9% |
| Remuneration and social security | 454/9 | €1,534 | - | -€1,534 | |
| Accrued charges and deferred income | 492/3 | €400 | - | -€400 | |
| Remuneration, social security and pensions | 62 | €9,488 | €8,814 | -€674 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,940 | €7,786 | +€1,846 | +31.1% |
| Other operating charges | 640/8 | €1,409 | €1,627 | +€218 | +15.5% |
| Gross operating margin | 9900 | €10,460 | €21,566 | +€11,106 | +106% |
| Operating profit (loss) | 9901 | -€6,377 | €3,339 | +€9,716 | |
| Financial income | 75/76B | €5 | €24 | +€19 | +385% |
| Recurring financial income | 75 | €5 | €24 | +€19 | +385% |
| Financial charges | 65/66B | €4,684 | €3,763 | -€921 | -19.7% |
| Recurring financial charges | 65 | €4,121 | €3,571 | -€550 | -13.3% |
| Non-recurring financial charges | 66B | €563 | €192 | -€371 | -65.8% |
| Profit (loss) for the period before taxes | 9903 | -€11,056 | -€400 | +€10,656 | +96.4% |
| Income taxes | 67/77 | - | €610 | +€610 | |
| Profit (loss) for the period | 9904 | -€11,056 | -€1,010 | +€10,046 | +90.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,056 | -€1,010 | +€10,046 | +90.9% |
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 15 October 2026 via checked.be.