Hanodis: 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.
Hanodis
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+125%), from €954,525 to €2.2m
- Cash -€697,900
down €697,900 (-50.6%), from €1.4m to €680,910
mainly Investment in fixed assets (net) (-€1.3m) and Contributions, distributions and other (-€1.2m)
- Debts after one year +€1.2m
new in 2025: €1.2m
- Reserves -€568,508
down €568,508 (-30.7%), from €1.9m to €1.3m
of which Distributable reserves: -€568,508
- Profit (loss) carried forward -€244,902
down €244,902 (-100%), from €244,902 to €0
- Trade debts +€138,584
up €138,584 (+2,356%), from €5,881 to €144,465
- Taxes -€168,583
down €168,583 (-64.8%), from €260,095 to €91,512
- Depreciation +€43,936
up €43,936 (+39.9%), from €110,213 to €154,150
- Gross operating margin +€41,689
up €41,689 (+6.1%), from €680,087 to €721,776
- Financial charges +€20,769
up €20,769 (+720%), from €2,884 to €23,653
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 | €2,369,992 | €2,890,058 | +€520,066 | +21.9% |
| Fixed assets | 21/28 | €954,525 | €2,150,334 | +€1.2m | +125% |
| Tangible fixed assets | 22/27 | €954,525 | €2,150,334 | +€1.2m | +125% |
| Land and buildings | 22 | €954,525 | €2,150,334 | +€1.2m | +125% |
| Current assets | 29/58 | €1,415,467 | €739,724 | -€675,743 | -47.7% |
| Amounts receivable within one year | 40/41 | €33,734 | €52,020 | +€18,286 | +54.2% |
| Trade receivables | 40 | €18,742 | €38,304 | +€19,563 | +104% |
| Other amounts receivable | 41 | €14,993 | €13,716 | -€1,277 | -8.5% |
| Cash at bank and in hand | 54/58 | €1,378,810 | €680,910 | -€697,900 | -50.6% |
| Deferred charges and accrued income | 490/1 | €2,923 | €6,794 | +€3,871 | +132% |
| Total equity and liabilities | 10/49 | €2,369,992 | €2,890,058 | +€520,066 | +21.9% |
| Equity | 10/15 | €2,158,800 | €1,345,390 | -€813,410 | -37.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,852,397 | €1,283,890 | -€568,508 | -30.7% |
| Non-distributable reserves | 130/1 | €24,789 | €24,789 | = | 0.0% |
| Legal reserve | 130 | €24,789 | €24,789 | = | 0.0% |
| Distributable reserves | 133 | €1,827,608 | €1,259,100 | -€568,508 | -31.1% |
| Profit (loss) carried forward | 14 | €244,902 | €0 | -€244,902 | -100% |
| Amounts payable | 17/49 | €211,192 | €1,544,669 | +€1.3m | +631% |
| Amounts payable after more than one year | 17 | - | €1,200,000 | +€1.2m | |
| Financial debts | 170/4 | - | €1,200,000 | +€1.2m | |
| Amounts payable within one year | 42/48 | €143,047 | €264,631 | +€121,584 | +85.0% |
| Trade debts | 44 | €5,881 | €144,465 | +€138,584 | +2,356% |
| Suppliers | 440/4 | €5,881 | €144,465 | +€138,584 | +2,356% |
| Taxes, remuneration and social security | 45 | €137,165 | €120,165 | -€17,000 | -12.4% |
| Taxes | 450/3 | €137,165 | €120,165 | -€17,000 | -12.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €68,146 | €80,038 | +€11,892 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,213 | €154,150 | +€43,936 | +39.9% |
| Other operating charges | 640/8 | €63,661 | €65,872 | +€2,211 | +3.5% |
| Gross operating margin | 9900 | €680,087 | €721,776 | +€41,689 | +6.1% |
| Operating profit (loss) | 9901 | €506,212 | €501,755 | -€4,458 | -0.9% |
| Financial income | 75/76B | €1,669 | €0 | -€1,668 | -100.0% |
| Recurring financial income | 75 | €1,669 | €0 | -€1,668 | -100.0% |
| Financial charges | 65/66B | €2,884 | €23,653 | +€20,769 | +720% |
| Recurring financial charges | 65 | €2,884 | €23,653 | +€20,769 | +720% |
| Profit (loss) for the period before taxes | 9903 | €504,997 | €478,102 | -€26,895 | -5.3% |
| Income taxes | 67/77 | €260,095 | €91,512 | -€168,583 | -64.8% |
| Profit (loss) for the period | 9904 | €244,902 | €386,590 | +€141,687 | +57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €244,902 | €386,590 | +€141,687 | +57.9% |
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 16 October 2026 via checked.be.