Hangar K: 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 K
Largest movements
- Receivables within one year -€307,969
down €307,969 (-17.7%), from €1.7m to €1.4m
of which Trade receivables: -€315,985
- Cash -€73,541
down €73,541 (-39.2%), from €187,576 to €114,036
mainly Accrued charges and deferred income (-€484,617) and Trade debts (-€96,844)
- Tangible fixed assets -€64,828
down €64,828 (-37.3%), from €173,840 to €109,012
of which Other tangible fixed assets: -€62,070
- Deferred charges and accrued income +€35,272
up €35,272 (+162%), from €21,779 to €57,051
- Accrued charges and deferred income -€484,617
down €484,617 (-42.4%), from €1.1m to €657,626
- Debts after one year +€110,000
up €110,000 (+43.1%), from €255,000 to €365,000
- Trade debts -€96,844
down €96,844 (-16.6%), from €584,997 to €488,154
- Current portion of long-term debt +€50,000
up €50,000 (+55.6%), from €90,000 to €140,000
- Tax, wage and social debts -€30,794
down €30,794 (-48.3%), from €63,766 to €32,972
of which Taxes: -€29,725
- Staff costs -€33,043
down €33,043 (-11.3%), from €293,522 to €260,478
- Write-downs +€6,925
up €6,925 (+43.7%), from €15,835 to €22,760
- Other operating charges +€4,849
up €4,849 (+346%), from €1,403 to €6,252
- Financial charges +€4,309
up €4,309 (+27.2%), from €15,854 to €20,163
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 | €2,161,944 | €1,740,820 | -€421,124 | -19.5% |
| Formation expenses | 20 | €33,593 | €24,495 | -€9,098 | -27.1% |
| Fixed assets | 21/28 | €176,366 | €110,578 | -€65,788 | -37.3% |
| Intangible fixed assets | 21 | €1,156 | €606 | -€550 | -47.6% |
| Tangible fixed assets | 22/27 | €173,840 | €109,012 | -€64,828 | -37.3% |
| Plant, machinery and equipment | 23 | €9,597 | €7,509 | -€2,089 | -21.8% |
| Furniture and vehicles | 24 | €1,811 | €1,142 | -€669 | -37.0% |
| Other tangible fixed assets | 26 | €162,433 | €100,362 | -€62,070 | -38.2% |
| Financial fixed assets | 28 | €1,370 | €960 | -€410 | -29.9% |
| Current assets | 29/58 | €1,951,985 | €1,605,747 | -€346,238 | -17.7% |
| Amounts receivable within one year | 40/41 | €1,742,629 | €1,434,660 | -€307,969 | -17.7% |
| Trade receivables | 40 | €1,727,122 | €1,411,136 | -€315,985 | -18.3% |
| Other amounts receivable | 41 | €15,508 | €23,524 | +€8,016 | +51.7% |
| Cash at bank and in hand | 54/58 | €187,576 | €114,036 | -€73,541 | -39.2% |
| Deferred charges and accrued income | 490/1 | €21,779 | €57,051 | +€35,272 | +162% |
| Total equity and liabilities | 10/49 | €2,161,944 | €1,740,820 | -€421,124 | -19.5% |
| Equity | 10/15 | €25,938 | €30,522 | +€4,585 | +17.7% |
| Profit (loss) carried forward | 14 | €25,938 | €30,522 | +€4,585 | +17.7% |
| Provisions and deferred taxes | 16 | - | €25,000 | +€25,000 | |
| Provisions for liabilities and charges | 160/5 | - | €25,000 | +€25,000 | |
| Environmental obligations | 163 | - | €25,000 | +€25,000 | |
| Amounts payable | 17/49 | €2,136,006 | €1,685,298 | -€450,708 | -21.1% |
| Amounts payable after more than one year | 17 | €255,000 | €365,000 | +€110,000 | +43.1% |
| Financial debts | 170/4 | €255,000 | €365,000 | +€110,000 | +43.1% |
| Amounts payable within one year | 42/48 | €738,763 | €662,672 | -€76,091 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €90,000 | €140,000 | +€50,000 | +55.6% |
| Financial debts | 43 | €0 | €1,546 | +€1,546 | |
| Other loans | 439 | €0 | €1,546 | +€1,546 | |
| Trade debts | 44 | €584,997 | €488,154 | -€96,844 | -16.6% |
| Suppliers | 440/4 | €584,997 | €488,154 | -€96,844 | -16.6% |
| Taxes, remuneration and social security | 45 | €63,766 | €32,972 | -€30,794 | -48.3% |
| Taxes | 450/3 | €36,157 | €6,433 | -€29,725 | -82.2% |
| Remuneration and social security | 454/9 | €27,608 | €26,539 | -€1,069 | -3.9% |
| Accrued charges and deferred income | 492/3 | €1,142,243 | €657,626 | -€484,617 | -42.4% |
| Non-recurring operating income | 76A | - | €864 | +€864 | |
| Remuneration, social security and pensions | 62 | €293,522 | €260,478 | -€33,043 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,433 | €77,589 | -€844 | -1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,835 | €22,760 | +€6,925 | +43.7% |
| Other operating charges | 640/8 | €1,403 | €6,252 | +€4,849 | +346% |
| Gross operating margin | 9900 | €412,048 | €413,764 | +€1,716 | +0.4% |
| Operating profit (loss) | 9901 | €22,855 | €21,685 | -€1,171 | -5.1% |
| Financial income | 75/76B | €197 | €3,417 | +€3,220 | +1,634% |
| Recurring financial income | 75 | €197 | €3,417 | +€3,220 | +1,634% |
| Financial charges | 65/66B | €15,854 | €20,163 | +€4,309 | +27.2% |
| Recurring financial charges | 65 | €15,854 | €20,163 | +€4,309 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | €7,198 | €4,938 | -€2,260 | -31.4% |
| Income taxes | 67/77 | €647 | €353 | -€293 | -45.3% |
| Profit (loss) for the period | 9904 | €6,552 | €4,585 | -€1,967 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,552 | €4,585 | -€1,967 | -30.0% |
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 19 October 2026 via checked.be.