HANGAR 29: what changed
Two fiscal 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 29
Largest movements
- Cash +€88,447
up €88,447 (+62.5%), from €141,471 to €229,918
mainly Net result for the year (+€238,782) and Trade debts (+€45,295)
- Receivables within one year +€49,153
up €49,153 (+46.0%), from €106,930 to €156,083
- Tangible fixed assets -€5,608
down €5,608 (-3.6%), from €156,673 to €151,066
of which Plant, machinery and equipment: -€4,934
- Reserves +€88,000
up €88,000 (+47.6%), from €185,000 to €273,000
- Trade debts +€45,295
new in 2025: €45,295
- Gross operating margin +€51,112
up €51,112 (+17.1%), from €298,276 to €349,387
- Other operating charges +€30,188
up €30,188 (+296.8%), from €10,170 to €40,358
- Taxes -€26,452
down €26,452 (-48.2%), from €54,906 to €28,454
- Depreciation +€9,654
up €9,654 (+32.7%), from €29,506 to €39,160
- Write-downs +€5,731
up €5,731, from -€5,731 to €0
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.
Cash bridge derived
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 | €405,074 | €541,394 | +€136,319 | +33.7% |
| Fixed assets | 21/28 | €156,673 | €151,066 | -€5,608 | -3.6% |
| Tangible fixed assets | 22/27 | €156,673 | €151,066 | -€5,608 | -3.6% |
| Plant, machinery and equipment | 23 | €17,633 | €12,699 | -€4,934 | -28.0% |
| Other tangible fixed assets | 26 | €139,040 | €138,367 | -€673 | -0.5% |
| Current assets | 29/58 | €248,401 | €390,328 | +€141,927 | +57.1% |
| Amounts receivable within one year | 40/41 | €106,930 | €156,083 | +€49,153 | +46.0% |
| Trade receivables | 40 | €106,930 | €156,083 | +€49,153 | +46.0% |
| Cash at bank and in hand | 54/58 | €141,471 | €229,918 | +€88,447 | +62.5% |
| Deferred charges and accrued income | 490/1 | - | €4,327 | +€4,327 | |
| Total equity and liabilities | 10/49 | €405,074 | €541,394 | +€136,319 | +33.7% |
| Equity | 10/15 | €207,818 | €291,600 | +€83,782 | +40.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €185,000 | €273,000 | +€88,000 | +47.6% |
| Distributable reserves | 133 | €185,000 | €273,000 | +€88,000 | +47.6% |
| Profit (loss) carried forward | 14 | €4,218 | €0 | -€4,218 | -100.0% |
| Amounts payable | 17/49 | €197,256 | €249,794 | +€52,537 | +26.6% |
| Amounts payable within one year | 42/48 | €197,256 | €248,481 | +€51,225 | +26.0% |
| Trade debts | 44 | - | €45,295 | +€45,295 | |
| Suppliers | 440/4 | - | €45,295 | +€45,295 | |
| Taxes, remuneration and social security | 45 | €47,256 | €48,186 | +€930 | +2.0% |
| Taxes | 450/3 | €47,256 | €48,186 | +€930 | +2.0% |
| Other amounts payable | 47/48 | €150,000 | €155,000 | +€5,000 | +3.3% |
| Accrued charges and deferred income | 492/3 | - | €1,313 | +€1,313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,506 | €39,160 | +€9,654 | +32.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,731 | €0 | +€5,731 | |
| Other operating charges | 640/8 | €10,170 | €40,358 | +€30,188 | +296.8% |
| Gross operating margin | 9900 | €298,276 | €349,387 | +€51,112 | +17.1% |
| Operating profit (loss) | 9901 | €264,331 | €269,870 | +€5,539 | +2.1% |
| Financial income | 75/76B | €5 | €0 | -€5 | -100.0% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -100.0% |
| Financial charges | 65/66B | €2,655 | €2,634 | -€21 | -0.8% |
| Recurring financial charges | 65 | €2,655 | €2,634 | -€21 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €261,680 | €267,236 | +€5,555 | +2.1% |
| Income taxes | 67/77 | €54,906 | €28,454 | -€26,452 | -48.2% |
| Profit (loss) for the period | 9904 | €206,774 | €238,782 | +€32,008 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €206,774 | €238,782 | +€32,008 | +15.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.