HASFLUX: 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.
HASFLUX
Largest movements
- Receivables within one year +€26,212
up €26,212 (+57.5%), from €45,557 to €71,770
of which Trade receivables: +€33,645
- Tangible fixed assets -€12,328
down €12,328 (-40.8%), from €30,192 to €17,864
of which Furniture and vehicles: -€11,145
- Cash -€5,140
down €5,140 (-8.5%), from €60,446 to €55,306
mainly Receivables within one year (-€26,212) and Other debts (-€20,397)
- Reserves +€38,853
up €38,853 (+45.4%), from €85,631 to €124,485
- Other debts -€20,397
no longer reported in 2025 (was €20,397)
- Debts after one year -€9,886
no longer reported in 2025 (was €9,886)
- Advances received +€7,865
new in 2025: €7,865
- Trade debts -€5,633
down €5,633 (-94.7%), from €5,945 to €312
- Staff costs -€37,235
down €37,235 (-21.5%), from €173,176 to €135,941
- Gross operating margin -€26,199
down €26,199 (-10.6%), from €246,152 to €219,953
- Depreciation -€3,438
down €3,438 (-32.9%), from €10,438 to €7,000
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 | €142,824 | €150,150 | +€7,326 | +5.1% |
| Fixed assets | 21/28 | €30,192 | €17,864 | -€12,328 | -40.8% |
| Tangible fixed assets | 22/27 | €30,192 | €17,864 | -€12,328 | -40.8% |
| Plant, machinery and equipment | 23 | €3,753 | €2,570 | -€1,183 | -31.5% |
| Furniture and vehicles | 24 | €26,439 | €15,294 | -€11,145 | -42.2% |
| Current assets | 29/58 | €112,632 | €132,286 | +€19,654 | +17.4% |
| Amounts receivable within one year | 40/41 | €45,557 | €71,770 | +€26,212 | +57.5% |
| Trade receivables | 40 | €31,825 | €65,470 | +€33,645 | +105.7% |
| Other amounts receivable | 41 | €13,732 | €6,300 | -€7,433 | -54.1% |
| Cash at bank and in hand | 54/58 | €60,446 | €55,306 | -€5,140 | -8.5% |
| Deferred charges and accrued income | 490/1 | €6,629 | €5,211 | -€1,418 | -21.4% |
| Total equity and liabilities | 10/49 | €142,824 | €150,150 | +€7,326 | +5.1% |
| Equity | 10/15 | €87,631 | €126,485 | +€38,853 | +44.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €85,631 | €124,485 | +€38,853 | +45.4% |
| Distributable reserves | 133 | €85,631 | €124,485 | +€38,853 | +45.4% |
| Amounts payable | 17/49 | €55,193 | €23,666 | -€31,527 | -57.1% |
| Amounts payable after more than one year | 17 | €9,886 | - | -€9,886 | |
| Financial debts | 170/4 | €9,886 | - | -€9,886 | |
| Amounts payable within one year | 42/48 | €45,307 | €23,666 | -€21,641 | -47.8% |
| Current portion of amounts payable after more than one year | 42 | €4,842 | - | -€4,842 | |
| Trade debts | 44 | €5,945 | €312 | -€5,633 | -94.7% |
| Suppliers | 440/4 | €5,945 | €312 | -€5,633 | -94.7% |
| Advances received on contracts in progress | 46 | - | €7,865 | +€7,865 | |
| Taxes, remuneration and social security | 45 | €14,122 | €15,488 | +€1,366 | +9.7% |
| Taxes | 450/3 | €14,122 | €15,488 | +€1,366 | +9.7% |
| Other amounts payable | 47/48 | €20,397 | - | -€20,397 | |
| Remuneration, social security and pensions | 62 | €173,176 | €135,941 | -€37,235 | -21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,438 | €7,000 | -€3,438 | -32.9% |
| Other operating charges | 640/8 | €1,793 | €1,669 | -€124 | -6.9% |
| Non-recurring operating charges | 66A | - | €15,473 | +€15,473 | |
| Gross operating margin | 9900 | €246,152 | €219,953 | -€26,199 | -10.6% |
| Operating profit (loss) | 9901 | €60,745 | €59,871 | -€874 | -1.4% |
| Financial income | 75/76B | €19 | - | -€19 | |
| Recurring financial income | 75 | €19 | - | -€19 | |
| Financial charges | 65/66B | €4,817 | €4,129 | -€688 | -14.3% |
| Recurring financial charges | 65 | €4,817 | €4,129 | -€688 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €55,947 | €55,742 | -€206 | -0.4% |
| Income taxes | 67/77 | €17,107 | €16,888 | -€219 | -1.3% |
| Profit (loss) for the period | 9904 | €38,840 | €38,853 | +€14 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €38,840 | €38,853 | +€14 | 0.0% |
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 7 October 2026 via checked.be.