HANREZ STABLES: 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.
HANREZ STABLES
Largest movements
- Cash -€39,643
down €39,643 (-49.3%), from €80,464 to €40,821
mainly Net result for the year (-€27,899) and Receivables within one year (-€20,332)
- Receivables within one year +€20,332
up €20,332 (+602%), from €3,378 to €23,710
of which Trade receivables: +€19,036
- Profit (loss) carried forward -€27,899
down €27,899 (-37.6%), from €74,189 to €46,290
- Trade debts +€13,779
up €13,779 (+348%), from €3,964 to €17,743
- Tax, wage and social debts -€4,882
down €4,882 (-94.3%), from €5,178 to €295
- Other debts -€1,096
down €1,096 (-92.6%), from €1,184 to €87
- Gross operating margin -€29,850
down €29,850, from €2,840 to -€27,010
- Financial charges -€520
down €520 (-86.1%), from €604 to €84
- Taxes -€295
no longer reported in 2025 (was €295)
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 | €86,015 | €65,916 | -€20,098 | -23.4% |
| Fixed assets | 21/28 | €2,173 | €1,385 | -€788 | -36.2% |
| Tangible fixed assets | 22/27 | €2,173 | €1,385 | -€788 | -36.2% |
| Plant, machinery and equipment | 23 | €2,173 | €1,385 | -€788 | -36.2% |
| Current assets | 29/58 | €83,842 | €64,531 | -€19,311 | -23.0% |
| Amounts receivable within one year | 40/41 | €3,378 | €23,710 | +€20,332 | +602% |
| Trade receivables | 40 | €2,185 | €21,221 | +€19,036 | +871% |
| Other amounts receivable | 41 | €1,193 | €2,489 | +€1,296 | +109% |
| Cash at bank and in hand | 54/58 | €80,464 | €40,821 | -€39,643 | -49.3% |
| Total equity and liabilities | 10/49 | €86,015 | €65,916 | -€20,098 | -23.4% |
| Equity | 10/15 | €75,689 | €47,790 | -€27,899 | -36.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,189 | €46,290 | -€27,899 | -37.6% |
| Amounts payable | 17/49 | €10,326 | €18,126 | +€7,801 | +75.5% |
| Amounts payable within one year | 42/48 | €10,326 | €18,126 | +€7,801 | +75.5% |
| Trade debts | 44 | €3,964 | €17,743 | +€13,779 | +348% |
| Suppliers | 440/4 | €3,964 | €17,743 | +€13,779 | +348% |
| Taxes, remuneration and social security | 45 | €5,178 | €295 | -€4,882 | -94.3% |
| Taxes | 450/3 | €5,178 | €295 | -€4,882 | -94.3% |
| Other amounts payable | 47/48 | €1,184 | €87 | -€1,096 | -92.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €788 | €788 | = | 0.0% |
| Other operating charges | 640/8 | €193 | €46 | -€147 | -76.3% |
| Gross operating margin | 9900 | €2,840 | -€27,010 | -€29,850 | |
| Operating profit (loss) | 9901 | €1,859 | -€27,843 | -€29,703 | |
| Financial income | 75/76B | - | €29 | +€29 | |
| Recurring financial income | 75 | - | €29 | +€29 | |
| Financial charges | 65/66B | €604 | €84 | -€520 | -86.1% |
| Recurring financial charges | 65 | €604 | €84 | -€520 | -86.1% |
| Profit (loss) for the period before taxes | 9903 | €1,255 | -€27,899 | -€29,154 | |
| Income taxes | 67/77 | €295 | - | -€295 | |
| Profit (loss) for the period | 9904 | €960 | -€27,899 | -€28,859 | |
| Profit (loss) for the period to be appropriated | 9905 | €960 | -€27,899 | -€28,859 |
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 24 October 2026 via checked.be.