HANKANG: what changed
HANKANG
Largest movements
- Receivables within one year +€12,797
up €12,797 (+181%), from €7,059 to €19,856
of which Trade receivables: +€7,295
- Cash -€8,141
down €8,141 (-14.0%), from €58,230 to €50,089
mainly Net result for the year (-€67,600) and Investment in fixed assets (net) (-€20,939)
- Tangible fixed assets -€8,033
down €8,033 (-7.5%), from €106,523 to €98,490
of which Plant, machinery and equipment: -€9,157
- Stocks and contracts -€3,558
down €3,558 (-26.1%), from €13,607 to €10,049
- Profit (loss) carried forward -€67,600
down €67,600, from €63,196 to -€4,404
- Tax, wage and social debts +€36,659
up €36,659 (+143%), from €25,711 to €62,370
of which Remuneration and social security: +€46,214
- Trade debts +€12,952
up €12,952 (+161%), from €8,050 to €21,002
- Current portion of long-term debt +€7,103
up €7,103 (+73.6%), from €9,646 to €16,749
- Other debts +€5,777
up €5,777 (+547%), from €1,057 to €6,834
- Turnover -€666,791
no longer reported in 2025 (was €666,791)
- Purchases and services -€410,312
no longer reported in 2025 (was €410,312)
- Gross operating margin -€58,577
down €58,577 (-22.8%), from €256,479 to €197,902
- Staff costs +€24,900
up €24,900 (+12.8%), from €194,903 to €219,803
- Taxes -€10,390
down €10,390 (-77.6%), from €13,384 to €2,994
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €194,318 | €188,389 | -€5,929 | -3.1% |
| Fixed assets | 21/28 | €112,523 | €105,496 | -€7,027 | -6.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €106,523 | €98,490 | -€8,033 | -7.5% |
| Plant, machinery and equipment | 23 | €106,523 | €97,366 | -€9,157 | -8.6% |
| Other tangible fixed assets | 26 | - | €1,124 | +€1,124 | |
| Financial fixed assets | 28 | €6,000 | €7,005 | +€1,005 | +16.8% |
| Current assets | 29/58 | €81,795 | €82,894 | +€1,099 | +1.3% |
| Stocks and contracts in progress | 3 | €13,607 | €10,049 | -€3,558 | -26.1% |
| Stocks | 30/36 | €13,607 | €10,049 | -€3,558 | -26.1% |
| Amounts receivable within one year | 40/41 | €7,059 | €19,856 | +€12,797 | +181% |
| Trade receivables | 40 | €59 | €7,354 | +€7,295 | +12,364% |
| Other amounts receivable | 41 | €7,000 | €12,502 | +€5,502 | +78.6% |
| Cash at bank and in hand | 54/58 | €58,230 | €50,089 | -€8,141 | -14.0% |
| Deferred charges and accrued income | 490/1 | €2,899 | €2,899 | +€0 | 0.0% |
| Total equity and liabilities | 10/49 | €194,318 | €188,389 | -€5,929 | -3.1% |
| Equity | 10/15 | €90,696 | €23,096 | -€67,600 | -74.5% |
| Contributions | 10/11 | €27,500 | €25,000 | -€2,500 | -9.1% |
| Reserves | 13 | - | €2,500 | +€2,500 | |
| Non-distributable reserves | 130/1 | - | €2,500 | +€2,500 | |
| Reserves not available under the articles | 1311 | - | €2,500 | +€2,500 | |
| Profit (loss) carried forward | 14 | €63,196 | -€4,404 | -€67,600 | |
| Amounts payable | 17/49 | €103,622 | €165,294 | +€61,672 | +59.5% |
| Amounts payable after more than one year | 17 | €59,158 | €58,338 | -€820 | -1.4% |
| Financial debts | 170/4 | €59,158 | €58,338 | -€820 | -1.4% |
| Amounts payable within one year | 42/48 | €44,464 | €106,955 | +€62,491 | +141% |
| Current portion of amounts payable after more than one year | 42 | €9,646 | €16,749 | +€7,103 | +73.6% |
| Trade debts | 44 | €8,050 | €21,002 | +€12,952 | +161% |
| Suppliers | 440/4 | €8,050 | €21,002 | +€12,952 | +161% |
| Taxes, remuneration and social security | 45 | €25,711 | €62,370 | +€36,659 | +143% |
| Taxes | 450/3 | €17,483 | €7,927 | -€9,556 | -54.7% |
| Remuneration and social security | 454/9 | €8,228 | €54,442 | +€46,214 | +562% |
| Other amounts payable | 47/48 | €1,057 | €6,834 | +€5,777 | +547% |
| Turnover | 70 | €666,791 | - | -€666,791 | |
| Goods, raw materials, services and sundry goods | 60/61 | €410,312 | - | -€410,312 | |
| Remuneration, social security and pensions | 62 | €194,903 | €219,803 | +€24,900 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,929 | €27,966 | +€8,037 | +40.3% |
| Other operating charges | 640/8 | €3,286 | €4,429 | +€1,143 | +34.8% |
| Gross operating margin | 9900 | €256,479 | €197,902 | -€58,577 | -22.8% |
| Operating profit (loss) | 9901 | €38,361 | -€54,296 | -€92,657 | |
| Financial income | 75/76B | €140 | €193 | +€53 | +37.6% |
| Recurring financial income | 75 | €140 | €193 | +€53 | +37.6% |
| Financial charges | 65/66B | €7,496 | €10,503 | +€3,007 | +40.1% |
| Recurring financial charges | 65 | €7,496 | €10,503 | +€3,007 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €31,005 | -€64,606 | -€95,611 | |
| Income taxes | 67/77 | €13,384 | €2,994 | -€10,390 | -77.6% |
| Profit (loss) for the period | 9904 | €17,621 | -€67,600 | -€85,221 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,621 | -€67,600 | -€85,221 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.