HANHN: 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.
HANHN
Largest movements
- Receivables within one year +€371,201
up €371,201 (+177%), from €209,671 to €580,872
- Cash -€86,987
down €86,987 (-93.0%), from €93,524 to €6,537
mainly Receivables within one year (-€371,201) and Investment in fixed assets (net) (-€1,189)
- Profit (loss) carried forward +€198,177
up €198,177 (+86.7%), from €228,615 to €426,792
- Tax, wage and social debts +€86,596
up €86,596 (+125%), from €69,538 to €156,135
- Gross operating margin -€40,062
down €40,062 (-13.4%), from €299,245 to €259,182
- Taxes -€10,007
down €10,007 (-14.4%), from €69,538 to €59,532
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 | €303,195 | €588,426 | +€285,231 | +94.1% |
| Fixed assets | 21/28 | - | €1,018 | +€1,018 | |
| Tangible fixed assets | 22/27 | - | €1,018 | +€1,018 | |
| Furniture and vehicles | 24 | - | €1,018 | +€1,018 | |
| Current assets | 29/58 | €303,195 | €587,408 | +€284,214 | +93.7% |
| Amounts receivable within one year | 40/41 | €209,671 | €580,872 | +€371,201 | +177% |
| Trade receivables | 40 | €209,671 | €580,872 | +€371,201 | +177% |
| Cash at bank and in hand | 54/58 | €93,524 | €6,537 | -€86,987 | -93.0% |
| Total equity and liabilities | 10/49 | €303,195 | €588,426 | +€285,231 | +94.1% |
| Equity | 10/15 | €231,615 | €429,792 | +€198,177 | +85.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €228,615 | €426,792 | +€198,177 | +86.7% |
| Amounts payable | 17/49 | €71,580 | €158,634 | +€87,054 | +122% |
| Amounts payable within one year | 42/48 | €71,580 | €158,634 | +€87,054 | +122% |
| Trade debts | 44 | €731 | €1,189 | +€458 | +62.6% |
| Suppliers | 440/4 | €731 | €1,189 | +€458 | +62.6% |
| Taxes, remuneration and social security | 45 | €69,538 | €156,135 | +€86,596 | +125% |
| Taxes | 450/3 | €69,538 | €156,135 | +€86,596 | +125% |
| Other amounts payable | 47/48 | €1,310 | €1,310 | = | 0.0% |
| Remuneration, social security and pensions | 62 | - | €952 | +€952 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,092 | €172 | -€920 | -84.3% |
| Gross operating margin | 9900 | €299,245 | €259,182 | -€40,062 | -13.4% |
| Operating profit (loss) | 9901 | €298,153 | €258,059 | -€40,094 | -13.4% |
| Financial charges | 65/66B | - | €350 | +€350 | |
| Recurring financial charges | 65 | - | €350 | +€350 | |
| Profit (loss) for the period before taxes | 9903 | €298,153 | €257,709 | -€40,444 | -13.6% |
| Income taxes | 67/77 | €69,538 | €59,532 | -€10,007 | -14.4% |
| Profit (loss) for the period | 9904 | €228,615 | €198,177 | -€30,438 | -13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €228,615 | €198,177 | -€30,438 | -13.3% |
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 26 October 2026 via checked.be.