HANKARD PHILIPPE: 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.
HANKARD PHILIPPE
Largest movements
- Tangible fixed assets +€31,888
up €31,888 (+14,610%), from €218 to €32,107
of which Furniture and vehicles: +€31,124
- Stocks and contracts -€9,780
down €9,780 (-40.3%), from €24,250 to €14,470
- Cash -€2,683
no longer reported in 2025 (was €2,683)
mainly Investment in fixed assets (net) (-€34,909) and Trade debts (-€4,647)
- Profit (loss) carried forward +€8,353
up €8,353 (+5.5%), from -€152,040 to -€143,687
- Short-term financial debts +€7,302
up €7,302 (+630%), from €1,159 to €8,462
- Other debts +€6,790
up €6,790 (+13.8%), from €49,051 to €55,840
- Trade debts -€4,647
down €4,647 (-10.8%), from €43,114 to €38,467
- Current portion of long-term debt -€2,516
no longer reported in 2025 (was €2,516)
- Gross operating margin +€21,950
up €21,950, from -€2,662 to €19,288
- Taxes +€12,836
up €12,836, from -€5,526 to €7,310
- Financial income +€2,434
up €2,434 (+48.6%), from €5,013 to €7,447
of which Non-recurring financial income: +€2,450
- Depreciation +€1,972
up €1,972 (+188%), from €1,049 to €3,021
- Financial charges +€1,871
up €1,871 (+69.9%), from €2,676 to €4,547
of which Non-recurring financial charges: +€1,043
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 | €155,568 | €174,045 | +€18,477 | +11.9% |
| Fixed assets | 21/28 | €278 | €32,167 | +€31,888 | +11,452% |
| Tangible fixed assets | 22/27 | €218 | €32,107 | +€31,888 | +14,610% |
| Plant, machinery and equipment | 23 | €218 | €983 | +€765 | +350% |
| Furniture and vehicles | 24 | - | €31,124 | +€31,124 | |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €155,290 | €141,878 | -€13,411 | -8.6% |
| Stocks and contracts in progress | 3 | €24,250 | €14,470 | -€9,780 | -40.3% |
| Stocks | 30/36 | €24,250 | €14,470 | -€9,780 | -40.3% |
| Amounts receivable within one year | 40/41 | €128,255 | €126,922 | -€1,333 | -1.0% |
| Trade receivables | 40 | €92,634 | €125,201 | +€32,567 | +35.2% |
| Other amounts receivable | 41 | €35,621 | €1,721 | -€33,900 | -95.2% |
| Current investments | 50/53 | €6 | €6 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,683 | - | -€2,683 | |
| Deferred charges and accrued income | 490/1 | €95 | €480 | +€385 | +405% |
| Total equity and liabilities | 10/49 | €155,568 | €174,045 | +€18,477 | +11.9% |
| Equity | 10/15 | €56,017 | €64,370 | +€8,353 | +14.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Capital | 10 | €6,197 | €6,197 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €201,859 | €201,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€152,040 | -€143,687 | +€8,353 | +5.5% |
| Amounts payable | 17/49 | €99,551 | €109,676 | +€10,124 | +10.2% |
| Amounts payable within one year | 42/48 | €99,551 | €109,676 | +€10,124 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €2,516 | - | -€2,516 | |
| Financial debts | 43 | €1,159 | €8,462 | +€7,302 | +630% |
| Credit institutions | 430/8 | €1,159 | €8,462 | +€7,302 | +630% |
| Trade debts | 44 | €43,114 | €38,467 | -€4,647 | -10.8% |
| Suppliers | 440/4 | €43,114 | €38,467 | -€4,647 | -10.8% |
| Advances received on contracts in progress | 46 | €2,100 | €2,925 | +€825 | +39.3% |
| Taxes, remuneration and social security | 45 | €1,611 | €3,982 | +€2,371 | +147% |
| Taxes | 450/3 | €1,611 | €3,982 | +€2,371 | +147% |
| Other amounts payable | 47/48 | €49,051 | €55,840 | +€6,790 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,049 | €3,021 | +€1,972 | +188% |
| Other operating charges | 640/8 | €4,223 | €3,504 | -€719 | -17.0% |
| Gross operating margin | 9900 | -€2,662 | €19,288 | +€21,950 | |
| Operating profit (loss) | 9901 | -€7,934 | €12,762 | +€20,696 | |
| Financial income | 75/76B | €5,013 | €7,447 | +€2,434 | +48.6% |
| Recurring financial income | 75 | €16 | €0 | -€16 | -99.1% |
| Non-recurring financial income | 76B | €4,997 | €7,447 | +€2,450 | +49.0% |
| Financial charges | 65/66B | €2,676 | €4,547 | +€1,871 | +69.9% |
| Recurring financial charges | 65 | €2,068 | €2,896 | +€828 | +40.0% |
| Non-recurring financial charges | 66B | €608 | €1,651 | +€1,043 | +171% |
| Profit (loss) for the period before taxes | 9903 | -€5,597 | €15,663 | +€21,260 | |
| Income taxes | 67/77 | -€5,526 | €7,310 | +€12,836 | |
| Profit (loss) for the period | 9904 | -€71 | €8,353 | +€8,424 | |
| Profit (loss) for the period to be appropriated | 9905 | -€71 | €8,353 | +€8,424 |
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 25 October 2026 via checked.be.