HANZOE: 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.
HANZOE
Largest movements
- Cash +€19,656
up €19,656 (+59.9%), from €32,815 to €52,471
mainly Net result for the year (+€49,497) and Other debts (+€25,091)
- Tangible fixed assets -€17,715
down €17,715 (-45.3%), from €39,124 to €21,409
of which Furniture and vehicles: -€9,120
- Receivables within one year +€17,672
up €17,672 (+36.3%), from €48,751 to €66,423
of which Other amounts receivable: +€24,354
- Other debts +€25,091
up €25,091 (+658.7%), from €3,809 to €28,900
- Contributions -€18,550
down €18,550 (-100.0%), from €18,550 to €0
- Reserves +€8,997
up €8,997 (+16.4%), from €54,783 to €63,780
- Tax, wage and social debts +€4,037
up €4,037 (+21.2%), from €19,010 to €23,046
of which Taxes: +€5,578
- Debts after one year -€3,917
down €3,917 (-100.0%), from €3,917 to €0
- Gross operating margin +€18,260
up €18,260 (+10.5%), from €173,549 to €191,809
- Taxes +€15,283
up €15,283 (+157.0%), from €9,737 to €25,020
- Staff costs +€4,433
up €4,433 (+4.5%), from €99,129 to €103,563
- Depreciation -€4,177
down €4,177 (-30.8%), from €13,567 to €9,390
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 | €130,030 | €148,952 | +€18,922 | +14.6% |
| Fixed assets | 21/28 | €39,124 | €21,409 | -€17,715 | -45.3% |
| Tangible fixed assets | 22/27 | €39,124 | €21,409 | -€17,715 | -45.3% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €13,567 | €8,646 | -€4,920 | -36.3% |
| Furniture and vehicles | 24 | €11,503 | €2,383 | -€9,120 | -79.3% |
| Other tangible fixed assets | 26 | €14,054 | €10,379 | -€3,675 | -26.2% |
| Current assets | 29/58 | €90,906 | €127,543 | +€36,637 | +40.3% |
| Stocks and contracts in progress | 3 | €7,019 | €7,119 | +€100 | +1.4% |
| Stocks | 30/36 | €7,019 | €7,119 | +€100 | +1.4% |
| Amounts receivable within one year | 40/41 | €48,751 | €66,423 | +€17,672 | +36.3% |
| Trade receivables | 40 | €10,225 | €3,543 | -€6,682 | -65.4% |
| Other amounts receivable | 41 | €38,527 | €62,881 | +€24,354 | +63.2% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €32,815 | €52,471 | +€19,656 | +59.9% |
| Deferred charges and accrued income | 490/1 | €2,322 | €1,530 | -€792 | -34.1% |
| Total equity and liabilities | 10/49 | €130,030 | €148,952 | +€18,922 | +14.6% |
| Equity | 10/15 | €73,333 | €63,780 | -€9,553 | -13.0% |
| Contributions | 10/11 | €18,550 | €0 | -€18,550 | -100.0% |
| Reserves | 13 | €54,783 | €63,780 | +€8,997 | +16.4% |
| Distributable reserves | 133 | €54,783 | €63,780 | +€8,997 | +16.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,698 | €85,172 | +€28,474 | +50.2% |
| Amounts payable after more than one year | 17 | €3,917 | €0 | -€3,917 | -100.0% |
| Financial debts | 170/4 | €3,917 | €0 | -€3,917 | -100.0% |
| Amounts payable within one year | 42/48 | €52,780 | €85,172 | +€32,392 | +61.4% |
| Current portion of amounts payable after more than one year | 42 | €6,605 | €8,436 | +€1,831 | +27.7% |
| Financial debts | 43 | €4,410 | €8,307 | +€3,897 | +88.4% |
| Credit institutions | 430/8 | €4,410 | €8,307 | +€3,897 | +88.4% |
| Trade debts | 44 | €18,946 | €16,482 | -€2,463 | -13.0% |
| Suppliers | 440/4 | €18,946 | €16,482 | -€2,463 | -13.0% |
| Taxes, remuneration and social security | 45 | €19,010 | €23,046 | +€4,037 | +21.2% |
| Taxes | 450/3 | €70 | €5,648 | +€5,578 | +7953.6% |
| Remuneration and social security | 454/9 | €18,940 | €17,398 | -€1,541 | -8.1% |
| Other amounts payable | 47/48 | €3,809 | €28,900 | +€25,091 | +658.7% |
| Non-recurring operating income | 76A | €0 | €16,109 | +€16,109 | |
| Remuneration, social security and pensions | 62 | €99,129 | €103,563 | +€4,433 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,567 | €9,390 | -€4,177 | -30.8% |
| Other operating charges | 640/8 | €1,786 | €3,299 | +€1,513 | +84.7% |
| Non-recurring operating charges | 66A | €29,817 | €0 | -€29,817 | -100.0% |
| Gross operating margin | 9900 | €173,549 | €191,809 | +€18,260 | +10.5% |
| Operating profit (loss) | 9901 | €29,250 | €75,557 | +€46,307 | +158.3% |
| Financial income | 75/76B | €1,582 | €3,275 | +€1,693 | +107.0% |
| Recurring financial income | 75 | €1,582 | €3,275 | +€1,693 | +107.0% |
| Financial charges | 65/66B | €5,872 | €4,315 | -€1,557 | -26.5% |
| Recurring financial charges | 65 | €5,872 | €4,315 | -€1,557 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | €24,960 | €74,518 | +€49,557 | +198.5% |
| Income taxes | 67/77 | €9,737 | €25,020 | +€15,283 | +157.0% |
| Profit (loss) for the period | 9904 | €15,223 | €49,497 | +€34,274 | +225.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,223 | €49,497 | +€34,274 | +225.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.