HANZE: what changed
Two fiscal 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.
HANZE
Largest movements
- Cash -€143,596
down €143,596 (-66.3%), from €216,441 to €72,845
mainly Current investments (-€140,000) and Investment in fixed assets (net) (-€30,995)
- Current investments +€140,000
new in 2025: €140,000
- Tangible fixed assets +€24,378
up €24,378 (+90.8%), from €26,862 to €51,239
- Reserves +€10,398
up €10,398 (+4.8%), from €215,572 to €225,971
- Trade debts +€6,099
up €6,099 (+519.7%), from €1,174 to €7,273
- Write-downs -€10,366
down €10,366, from €5,183 to -€5,183
- Other operating charges +€6,781
up €6,781 (+199.0%), from €3,407 to €10,187
- Gross operating margin -€2,886
down €2,886 (-3.9%), from €74,296 to €71,410
- Depreciation +€1,497
up €1,497 (+29.2%), from €5,121 to €6,617
- Financial income +€1,195
up €1,195 (+83.4%), from €1,432 to €2,627
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.
Cash bridge derived
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 | €272,743 | €293,196 | +€20,453 | +7.5% |
| Fixed assets | 21/28 | €26,862 | €51,239 | +€24,378 | +90.8% |
| Tangible fixed assets | 22/27 | €26,862 | €51,239 | +€24,378 | +90.8% |
| Furniture and vehicles | 24 | €26,862 | €51,239 | +€24,378 | +90.8% |
| Current assets | 29/58 | €245,882 | €241,957 | -€3,925 | -1.6% |
| Amounts receivable within one year | 40/41 | €25,215 | €27,573 | +€2,358 | +9.4% |
| Trade receivables | 40 | €7,707 | €13,937 | +€6,230 | +80.8% |
| Other amounts receivable | 41 | €17,508 | €13,636 | -€3,872 | -22.1% |
| Current investments | 50/53 | - | €140,000 | +€140,000 | |
| Cash at bank and in hand | 54/58 | €216,441 | €72,845 | -€143,596 | -66.3% |
| Deferred charges and accrued income | 490/1 | €4,225 | €1,538 | -€2,687 | -63.6% |
| Total equity and liabilities | 10/49 | €272,743 | €293,196 | +€20,453 | +7.5% |
| Equity | 10/15 | €265,572 | €275,971 | +€10,398 | +3.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €215,572 | €225,971 | +€10,398 | +4.8% |
| Distributable reserves | 133 | €215,572 | €225,971 | +€10,398 | +4.8% |
| Amounts payable | 17/49 | €7,171 | €17,225 | +€10,055 | +140.2% |
| Amounts payable within one year | 42/48 | €6,537 | €17,005 | +€10,468 | +160.1% |
| Trade debts | 44 | €1,174 | €7,273 | +€6,099 | +519.7% |
| Suppliers | 440/4 | €1,174 | €7,273 | +€6,099 | +519.7% |
| Taxes, remuneration and social security | 45 | €5,363 | €7,694 | +€2,331 | +43.5% |
| Taxes | 450/3 | €5,363 | €7,694 | +€2,331 | +43.5% |
| Other amounts payable | 47/48 | - | €2,038 | +€2,038 | |
| Accrued charges and deferred income | 492/3 | €634 | €221 | -€413 | -65.2% |
| Non-recurring operating income | 76A | €7,093 | €8,145 | +€1,051 | +14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,121 | €6,617 | +€1,497 | +29.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,183 | -€5,183 | -€10,366 | |
| Other operating charges | 640/8 | €3,407 | €10,187 | +€6,781 | +199.0% |
| Gross operating margin | 9900 | €74,296 | €71,410 | -€2,886 | -3.9% |
| Operating profit (loss) | 9901 | €60,586 | €59,789 | -€797 | -1.3% |
| Financial income | 75/76B | €1,432 | €2,627 | +€1,195 | +83.4% |
| Recurring financial income | 75 | €1,432 | €2,627 | +€1,195 | +83.4% |
| Financial charges | 65/66B | €162 | €184 | +€22 | +13.5% |
| Recurring financial charges | 65 | €162 | €184 | +€22 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €61,856 | €62,232 | +€376 | +0.6% |
| Income taxes | 67/77 | €21,131 | €21,719 | +€588 | +2.8% |
| Profit (loss) for the period | 9904 | €40,725 | €40,512 | -€213 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,725 | €40,512 | -€213 | -0.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.