HANTOBEL: 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.
What changed
HANTOBEL
NACE 32.500, Manufacture of medical and dental instruments and supplies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1,948
2024 · -€21,838+€19,890
Equity
€218,485
2024 · €220,433-€1,948
Cash
€25,205
2024 · €49,256-€24,051
Balance sheet total
€405,047
2024 · €418,272-€13,225
Largest movements
Assets
- Receivables within one year +€46,586
up €46,586 (+391%), from €11,901 to €58,487
of which Trade receivables: +€31,827
- Tangible fixed assets -€31,909
down €31,909 (-9.1%), from €351,019 to €319,109
of which Leasing and similar rights: -€19,096
- Cash -€24,051
down €24,051 (-48.8%), from €49,256 to €25,205
mainly Receivables within one year (-€46,586) and Investment in fixed assets (net) (-€24,705)
Equity and liabilities
- Debts after one year -€13,206
down €13,206 (-15.3%), from €86,290 to €73,085
- Other debts +€12,543
up €12,543 (+114%), from €11,031 to €23,574
- Trade debts -€6,748
down €6,748 (-78.1%), from €8,645 to €1,896
Income statement
- Gross operating margin +€18,635
up €18,635 (+8.3%), from €225,141 to €243,777
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.
Result 2024
-€21,838
Gross operating margin
+€18,635
Staff costs
+€1,153
Depreciation
+€1,308
Write-downs
-€455
Other operating charges
-€1,703
Financial income
+€94
Financial charges
+€842
Taxes
+€17
Result 2025
-€1,948
raises the resultlowers the result
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.
From operations
+€11,829
Investment
-€24,705
Financing
-€11,175
Cash 2024
€49,256
From operations (derived)
+€11,829
Net result for the year
-€1,948
Depreciation
+€56,614
Receivables within one year
-€46,586
Deferred charges and accrued income
+€3,851
Trade debts
-€6,748
Tax, wage and social debts
-€3,111
Advances received
-€653
Other debts
+€12,543
Accrued charges and deferred income
-€2,134
Investment (derived)
-€24,705
Investment in fixed assets (net)
-€24,705
Financing
-€11,175
Debts after one year
-€13,206
Current portion of long-term debt
+€2,031
Cash 2025
€25,205
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €418,272 | €405,047 | -€13,225 | -3.2% |
| Fixed assets | 21/28 | €351,019 | €319,109 | -€31,909 | -9.1% |
| Tangible fixed assets | 22/27 | €351,019 | €319,109 | -€31,909 | -9.1% |
| Land and buildings | 22 | €215,559 | €207,480 | -€8,078 | -3.7% |
| Plant, machinery and equipment | 23 | €20,327 | €14,340 | -€5,986 | -29.4% |
| Furniture and vehicles | 24 | €46,754 | €48,933 | +€2,179 | +4.7% |
| Leasing and similar rights | 25 | €66,234 | €47,138 | -€19,096 | -28.8% |
| Other tangible fixed assets | 26 | €2,145 | €1,217 | -€928 | -43.3% |
| Current assets | 29/58 | €67,253 | €85,937 | +€18,684 | +27.8% |
| Amounts receivable within one year | 40/41 | €11,901 | €58,487 | +€46,586 | +391% |
| Trade receivables | 40 | €2,179 | €34,006 | +€31,827 | +1,461% |
| Other amounts receivable | 41 | €9,722 | €24,481 | +€14,759 | +152% |
| Cash at bank and in hand | 54/58 | €49,256 | €25,205 | -€24,051 | -48.8% |
| Deferred charges and accrued income | 490/1 | €6,096 | €2,245 | -€3,851 | -63.2% |
| Total equity and liabilities | 10/49 | €418,272 | €405,047 | -€13,225 | -3.2% |
| Equity | 10/15 | €220,433 | €218,485 | -€1,948 | -0.9% |
| Contributions | 10/11 | €85,700 | €85,700 | = | 0.0% |
| Reserves | 13 | €143,755 | €143,755 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,505 | €9,505 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,505 | €9,505 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €115,500 | €115,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,022 | -€10,970 | -€1,948 | -21.6% |
| Amounts payable | 17/49 | €197,839 | €186,562 | -€11,277 | -5.7% |
| Amounts payable after more than one year | 17 | €86,290 | €73,085 | -€13,206 | -15.3% |
| Financial debts | 170/4 | €86,290 | €73,085 | -€13,206 | -15.3% |
| Amounts payable within one year | 42/48 | €101,383 | €105,445 | +€4,062 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €39,922 | €41,953 | +€2,031 | +5.1% |
| Trade debts | 44 | €8,645 | €1,896 | -€6,748 | -78.1% |
| Suppliers | 440/4 | €8,645 | €1,896 | -€6,748 | -78.1% |
| Advances received on contracts in progress | 46 | €653 | €0 | -€653 | -100% |
| Taxes, remuneration and social security | 45 | €41,133 | €38,022 | -€3,111 | -7.6% |
| Taxes | 450/3 | €17,156 | €12,618 | -€4,538 | -26.4% |
| Remuneration and social security | 454/9 | €23,977 | €25,404 | +€1,427 | +6.0% |
| Other amounts payable | 47/48 | €11,031 | €23,574 | +€12,543 | +114% |
| Accrued charges and deferred income | 492/3 | €10,165 | €8,032 | -€2,134 | -21.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €175,225 | €174,073 | -€1,153 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,922 | €56,614 | -€1,308 | -2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €455 | +€455 | |
| Other operating charges | 640/8 | €5,596 | €7,298 | +€1,703 | +30.4% |
| Gross operating margin | 9900 | €225,141 | €243,777 | +€18,635 | +8.3% |
| Operating profit (loss) | 9901 | -€13,601 | €5,336 | +€18,938 | |
| Financial income | 75/76B | - | €94 | +€94 | |
| Recurring financial income | 75 | - | €94 | +€94 | |
| Financial charges | 65/66B | €7,969 | €7,127 | -€842 | -10.6% |
| Recurring financial charges | 65 | €7,969 | €7,127 | -€842 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | -€21,571 | -€1,697 | +€19,874 | +92.1% |
| Income taxes | 67/77 | €268 | €251 | -€17 | -6.2% |
| Profit (loss) for the period | 9904 | -€21,838 | -€1,948 | +€19,890 | +91.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,838 | -€1,948 | +€19,890 | +91.1% |
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 23 October 2026 via checked.be.