HAS DAL: 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.
HAS DAL
Largest movements
- Stocks and contracts +€192,850
up €192,850 (+59.1%), from €326,200 to €519,050
of which Contracts in progress: +€195,000
- Receivables within one year +€132,582
up €132,582 (+69.3%), from €191,365 to €323,947
of which Trade receivables: +€94,911
- Tangible fixed assets -€51,576
down €51,576 (-18.8%), from €273,728 to €222,151
of which Furniture and vehicles: -€32,917
- Trade debts +€143,774
up €143,774 (+94.8%), from €151,643 to €295,417
- Debts after one year +€83,529
up €83,529 (+40.8%), from €204,486 to €288,015
- Other debts +€39,686
up €39,686 (+53.5%), from €74,202 to €113,888
- Short-term financial debts -€30,785
down €30,785 (-31.2%), from €98,635 to €67,851
- Tax, wage and social debts +€16,255
up €16,255 (+45.0%), from €36,113 to €52,368
of which Remuneration and social security: +€10,470
- Staff costs -€30,671
down €30,671 (-8.7%), from €350,737 to €320,066
- Gross operating margin -€25,819
down €25,819 (-5.3%), from €484,828 to €459,010
- Depreciation +€4,947
up €4,947 (+5.6%), from €87,629 to €92,576
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €793,827 | €1,067,684 | +€273,856 | +34.5% |
| Fixed assets | 21/28 | €276,263 | €224,686 | -€51,576 | -18.7% |
| Tangible fixed assets | 22/27 | €273,728 | €222,151 | -€51,576 | -18.8% |
| Plant, machinery and equipment | 23 | €22,539 | €18,661 | -€3,878 | -17.2% |
| Furniture and vehicles | 24 | €78,426 | €45,509 | -€32,917 | -42.0% |
| Leasing and similar rights | 25 | €172,763 | €157,982 | -€14,781 | -8.6% |
| Financial fixed assets | 28 | €2,535 | €2,535 | = | 0.0% |
| Current assets | 29/58 | €517,565 | €842,997 | +€325,432 | +62.9% |
| Stocks and contracts in progress | 3 | €326,200 | €519,050 | +€192,850 | +59.1% |
| Stocks | 30/36 | €86,450 | €84,300 | -€2,150 | -2.5% |
| Contracts in progress | 37 | €239,750 | €434,750 | +€195,000 | +81.3% |
| Amounts receivable within one year | 40/41 | €191,365 | €323,947 | +€132,582 | +69.3% |
| Trade receivables | 40 | €172,443 | €267,354 | +€94,911 | +55.0% |
| Other amounts receivable | 41 | €18,922 | €56,593 | +€37,671 | +199% |
| Total equity and liabilities | 10/49 | €793,827 | €1,067,684 | +€273,856 | +34.5% |
| Equity | 10/15 | €92,704 | €93,095 | +€391 | +0.4% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Reserves | 13 | €20,853 | €20,853 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,077 | €2,077 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,077 | €2,077 | = | 0.0% |
| Distributable reserves | 133 | €18,776 | €18,776 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,852 | €27,242 | +€391 | +1.5% |
| Amounts payable | 17/49 | €701,123 | €974,589 | +€273,466 | +39.0% |
| Amounts payable after more than one year | 17 | €204,486 | €288,015 | +€83,529 | +40.8% |
| Financial debts | 170/4 | €204,486 | €288,015 | +€83,529 | +40.8% |
| Amounts payable within one year | 42/48 | €496,637 | €686,573 | +€189,936 | +38.2% |
| Current portion of amounts payable after more than one year | 42 | €100,088 | €114,886 | +€14,798 | +14.8% |
| Financial debts | 43 | €98,635 | €67,851 | -€30,785 | -31.2% |
| Credit institutions | 430/8 | €98,635 | €67,851 | -€30,785 | -31.2% |
| Trade debts | 44 | €151,643 | €295,417 | +€143,774 | +94.8% |
| Suppliers | 440/4 | €151,643 | €295,417 | +€143,774 | +94.8% |
| Advances received on contracts in progress | 46 | €35,957 | €42,164 | +€6,208 | +17.3% |
| Taxes, remuneration and social security | 45 | €36,113 | €52,368 | +€16,255 | +45.0% |
| Taxes | 450/3 | €6,513 | €12,298 | +€5,785 | +88.8% |
| Remuneration and social security | 454/9 | €29,600 | €40,070 | +€10,470 | +35.4% |
| Other amounts payable | 47/48 | €74,202 | €113,888 | +€39,686 | +53.5% |
| Non-recurring operating income | 76A | - | €3,500 | +€3,500 | |
| Remuneration, social security and pensions | 62 | €350,737 | €320,066 | -€30,671 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,629 | €92,576 | +€4,947 | +5.6% |
| Other operating charges | 640/8 | €5,206 | €5,256 | +€50 | +1.0% |
| Gross operating margin | 9900 | €484,828 | €459,010 | -€25,819 | -5.3% |
| Operating profit (loss) | 9901 | €41,257 | €41,112 | -€145 | -0.4% |
| Financial income | 75/76B | €217 | - | -€217 | |
| Recurring financial income | 75 | €217 | - | -€217 | |
| Financial charges | 65/66B | €34,699 | €36,508 | +€1,809 | +5.2% |
| Recurring financial charges | 65 | €34,699 | €36,508 | +€1,809 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €6,774 | €4,604 | -€2,170 | -32.0% |
| Income taxes | 67/77 | €6,236 | €4,213 | -€2,023 | -32.4% |
| Profit (loss) for the period | 9904 | €538 | €391 | -€147 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €538 | €391 | -€147 | -27.4% |
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 17 October 2026 via checked.be.