HAS-PEN: 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.
HAS-PEN
Largest movements
- Stocks and contracts -€23,561
no longer reported in 2025 (was €23,561)
- Receivables within one year +€1,191
up €1,191 (+72.5%), from €1,644 to €2,835
- Tangible fixed assets -€521
no longer reported in 2025 (was €521)
- Profit (loss) carried forward -€12,563
down €12,563, from €7,008 to -€5,554
- Trade debts -€10,335
down €10,335 (-99.5%), from €10,387 to €51
- Gross operating margin -€23,309
down €23,309, from €1,107 to -€22,202
- Purchases and services +€12,089
up €12,089 (+67.2%), from €17,993 to €30,082
- Turnover -€11,220
down €11,220 (-58.7%), from €19,100 to €7,880
- Financial income +€9,813
up €9,813 (+2444.7%), from €401 to €10,214
of which Non-recurring financial income: +€10,214
- Depreciation -€1,772
down €1,772 (-77.3%), from €2,293 to €521
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,477 | €3,573 | -€22,904 | -86.5% |
| Fixed assets | 21/28 | €571 | €50 | -€521 | -91.2% |
| Tangible fixed assets | 22/27 | €521 | - | -€521 | |
| Furniture and vehicles | 24 | €521 | - | -€521 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €25,906 | €3,523 | -€22,383 | -86.4% |
| Stocks and contracts in progress | 3 | €23,561 | - | -€23,561 | |
| Stocks | 30/36 | €23,561 | - | -€23,561 | |
| Amounts receivable within one year | 40/41 | €1,644 | €2,835 | +€1,191 | +72.5% |
| Other amounts receivable | 41 | €1,644 | €2,835 | +€1,191 | +72.5% |
| Cash at bank and in hand | 54/58 | €701 | €688 | -€13 | -1.8% |
| Total equity and liabilities | 10/49 | €26,477 | €3,573 | -€22,904 | -86.5% |
| Equity | 10/15 | €16,008 | €3,446 | -€12,563 | -78.5% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Outside capital | 11 | €9,000 | €9,000 | = | 0.0% |
| Other | 1109/19 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,008 | -€5,554 | -€12,563 | |
| Amounts payable | 17/49 | €10,468 | €127 | -€10,341 | -98.8% |
| Amounts payable within one year | 42/48 | €10,468 | €127 | -€10,341 | -98.8% |
| Trade debts | 44 | €10,387 | €51 | -€10,335 | -99.5% |
| Suppliers | 440/4 | €10,387 | €51 | -€10,335 | -99.5% |
| Taxes, remuneration and social security | 45 | €76 | €76 | = | 0.0% |
| Taxes | 450/3 | €76 | €76 | = | 0.0% |
| Other amounts payable | 47/48 | €6 | - | -€6 | |
| Turnover | 70 | €19,100 | €7,880 | -€11,220 | -58.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €17,993 | €30,082 | +€12,089 | +67.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,293 | €521 | -€1,772 | -77.3% |
| Gross operating margin | 9900 | €1,107 | -€22,202 | -€23,309 | |
| Operating profit (loss) | 9901 | -€1,186 | -€22,723 | -€21,537 | -1816.6% |
| Financial income | 75/76B | €401 | €10,214 | +€9,813 | +2444.7% |
| Recurring financial income | 75 | €401 | €10,214 | +€9,813 | +2444.7% |
| Non-recurring financial income | 76B | - | €10,214 | +€10,214 | |
| Financial charges | 65/66B | €56 | €54 | -€2 | -3.7% |
| Recurring financial charges | 65 | €56 | €54 | -€2 | -3.7% |
| Profit (loss) for the period before taxes | 9903 | -€840 | -€12,563 | -€11,723 | -1395.6% |
| Profit (loss) for the period | 9904 | -€840 | -€12,563 | -€11,723 | -1395.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€840 | -€12,563 | -€11,723 | -1395.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.