HASA GROUP: 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.
HASA GROUP
Largest movements
- Tangible fixed assets +€25,345
new in 2025: €25,345
- Receivables within one year -€10,780
down €10,780 (-23.3%), from €46,351 to €35,571
- Cash -€1,611
down €1,611 (-14.4%), from €11,151 to €9,540
mainly Investment in fixed assets (net) (-€25,885) and Current portion of long-term debt (-€1,599)
- Profit (loss) carried forward +€12,423
up €12,423 (+123.2%), from €10,083 to €22,507
- Trade debts +€1,694
new in 2025: €1,694
- Current portion of long-term debt -€1,599
no longer reported in 2025 (was €1,599)
- Depreciation -€15,548
down €15,548 (-96.6%), from €16,088 to €539
- Gross operating margin -€6,645
down €6,645 (-40.4%), from €16,464 to €9,819
- Other operating charges +€1,206
up €1,206 (+433.7%), from €278 to €1,484
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 | €57,502 | €70,456 | +€12,954 | +22.5% |
| Fixed assets | 21/28 | - | €25,345 | +€25,345 | |
| Tangible fixed assets | 22/27 | - | €25,345 | +€25,345 | |
| Furniture and vehicles | 24 | - | €25,345 | +€25,345 | |
| Current assets | 29/58 | €57,502 | €45,111 | -€12,391 | -21.5% |
| Amounts receivable within one year | 40/41 | €46,351 | €35,571 | -€10,780 | -23.3% |
| Other amounts receivable | 41 | €46,351 | €35,571 | -€10,780 | -23.3% |
| Cash at bank and in hand | 54/58 | €11,151 | €9,540 | -€1,611 | -14.4% |
| Total equity and liabilities | 10/49 | €57,502 | €70,456 | +€12,954 | +22.5% |
| Equity | 10/15 | €55,287 | €67,710 | +€12,423 | +22.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,604 | €26,604 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,604 | €16,604 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,604 | €16,604 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,083 | €22,507 | +€12,423 | +123.2% |
| Amounts payable | 17/49 | €2,215 | €2,746 | +€531 | +24.0% |
| Amounts payable within one year | 42/48 | €2,215 | €2,746 | +€531 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €1,599 | - | -€1,599 | |
| Trade debts | 44 | - | €1,694 | +€1,694 | |
| Suppliers | 440/4 | - | €1,694 | +€1,694 | |
| Taxes, remuneration and social security | 45 | €616 | €1,052 | +€435 | +70.6% |
| Taxes | 450/3 | €616 | €1,052 | +€435 | +70.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,088 | €539 | -€15,548 | -96.6% |
| Other operating charges | 640/8 | €278 | €1,484 | +€1,206 | +433.7% |
| Gross operating margin | 9900 | €16,464 | €9,819 | -€6,645 | -40.4% |
| Operating profit (loss) | 9901 | €98 | €7,795 | +€7,697 | +7854.2% |
| Financial income | 75/76B | €2,120 | €2,283 | +€163 | +7.7% |
| Recurring financial income | 75 | €2,120 | €2,283 | +€163 | +7.7% |
| Financial charges | 65/66B | €66 | €49 | -€17 | -25.8% |
| Recurring financial charges | 65 | €66 | €49 | -€17 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €2,152 | €10,029 | +€7,877 | +366.0% |
| Profit (loss) for the period | 9904 | €2,152 | €10,029 | +€7,877 | +366.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,152 | €10,029 | +€7,877 | +366.0% |
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.