HASMA: 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.
HASMA
Largest movements
- Receivables within one year -€37,360
down €37,360 (-86.9%), from €43,015 to €5,655
of which Trade receivables: -€24,617
- Tangible fixed assets +€23,940
up €23,940 (+86.9%), from €27,556 to €51,496
of which Plant, machinery and equipment: +€28,028
- Current investments +€21,509
up €21,509 (+7.4%), from €290,503 to €312,011
- Cash +€10,404
up €10,404 (+249.2%), from €4,176 to €14,580
mainly Other debts (+€39,676) and Receivables within one year (+€37,360)
- Other debts +€39,676
up €39,676 (+141.3%), from €28,073 to €67,748
- Reserves -€19,858
down €19,858 (-6.5%), from €307,521 to €287,663
- Gross operating margin -€5,168
down €5,168 (-3.9%), from €132,828 to €127,660
- Depreciation -€2,714
down €2,714 (-22.5%), from €12,082 to €9,368
- Staff costs +€1,578
up €1,578 (+2.3%), from €67,272 to €68,850
- Taxes -€1,403
down €1,403 (-9.0%), from €15,598 to €14,196
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 | €370,793 | €388,821 | +€18,028 | +4.9% |
| Fixed assets | 21/28 | €27,581 | €51,521 | +€23,940 | +86.8% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €27,556 | €51,496 | +€23,940 | +86.9% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €2,837 | €30,865 | +€28,028 | +988.1% |
| Furniture and vehicles | 24 | €9,803 | €5,715 | -€4,088 | -41.7% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €14,916 | €14,916 | = | 0.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €343,212 | €337,300 | -€5,912 | -1.7% |
| Amounts receivable within one year | 40/41 | €43,015 | €5,655 | -€37,360 | -86.9% |
| Trade receivables | 40 | €25,113 | €496 | -€24,617 | -98.0% |
| Other amounts receivable | 41 | €17,902 | €5,159 | -€12,743 | -71.2% |
| Current investments | 50/53 | €290,503 | €312,011 | +€21,509 | +7.4% |
| Cash at bank and in hand | 54/58 | €4,176 | €14,580 | +€10,404 | +249.2% |
| Deferred charges and accrued income | 490/1 | €5,518 | €5,054 | -€464 | -8.4% |
| Total equity and liabilities | 10/49 | €370,793 | €388,821 | +€18,028 | +4.9% |
| Equity | 10/15 | €330,692 | €310,001 | -€20,691 | -6.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €307,521 | €287,663 | -€19,858 | -6.5% |
| Distributable reserves | 133 | €307,521 | €287,663 | -€19,858 | -6.5% |
| Profit (loss) carried forward | 14 | €4,579 | €3,746 | -€833 | -18.2% |
| Amounts payable | 17/49 | €40,102 | €78,821 | +€38,719 | +96.6% |
| Amounts payable within one year | 42/48 | €39,811 | €78,821 | +€39,009 | +98.0% |
| Trade debts | 44 | €4,002 | €2,963 | -€1,039 | -26.0% |
| Suppliers | 440/4 | €4,002 | €2,963 | -€1,039 | -26.0% |
| Taxes, remuneration and social security | 45 | €7,737 | €8,110 | +€373 | +4.8% |
| Taxes | 450/3 | €430 | €426 | -€4 | -0.9% |
| Remuneration and social security | 454/9 | €7,307 | €7,684 | +€377 | +5.2% |
| Other amounts payable | 47/48 | €28,073 | €67,748 | +€39,676 | +141.3% |
| Accrued charges and deferred income | 492/3 | €291 | €0 | -€291 | -100.0% |
| Remuneration, social security and pensions | 62 | €67,272 | €68,850 | +€1,578 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,082 | €9,368 | -€2,714 | -22.5% |
| Other operating charges | 640/8 | €941 | €929 | -€11 | -1.2% |
| Gross operating margin | 9900 | €132,828 | €127,660 | -€5,168 | -3.9% |
| Operating profit (loss) | 9901 | €52,533 | €48,512 | -€4,021 | -7.7% |
| Financial income | 75/76B | €1,247 | €1,798 | +€552 | +44.3% |
| Recurring financial income | 75 | €1,247 | €1,798 | +€552 | +44.3% |
| Financial charges | 65/66B | €220 | €242 | +€23 | +10.3% |
| Recurring financial charges | 65 | €220 | €242 | +€23 | +10.3% |
| Profit (loss) for the period before taxes | 9903 | €53,560 | €50,068 | -€3,491 | -6.5% |
| Income taxes | 67/77 | €15,598 | €14,196 | -€1,403 | -9.0% |
| Profit (loss) for the period | 9904 | €37,962 | €35,873 | -€2,089 | -5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,962 | €35,873 | -€2,089 | -5.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.