HASSAL: 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.
What changed
HASSAL
NACE 24.540, Manufacture of basic metals
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€236,627
2024 · €107,815-€344,442
Equity
€914,283
2024 · €1.2m-€236,627
Cash
€206,752
2024 · €207,803-€1,051
Balance sheet total
€2.6m
2024 · €1.6m+€1.1m
Largest movements
Assets
- Tangible fixed assets +€928,820
up €928,820 (+199.0%), from €466,699 to €1.4m
of which Plant, machinery and equipment: +€837,727
- Receivables within one year +€76,156
up €76,156 (+28.0%), from €272,363 to €348,519
of which Trade receivables: +€48,678
- Stocks and contracts +€51,238
up €51,238 (+8.5%), from €604,700 to €655,938
Equity and liabilities
- Other debts +€527,919
up €527,919 (+738.1%), from €71,520 to €599,440
- Debts after one year +€493,412
new in 2025: €493,412
- Profit (loss) carried forward -€236,627
down €236,627 (-101.1%), from -€234,090 to -€470,717
- Trade debts +€133,562
up €133,562 (+67.8%), from €197,006 to €330,568
- Short-term financial debts +€124,393
new in 2025: €124,393
Income statement
- Gross operating margin -€269,845
down €269,845 (-27.7%), from €975,537 to €705,692
- Depreciation +€59,764
up €59,764 (+114.2%), from €52,341 to €112,105
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.
Result 2024
€107,815
Gross operating margin
-€269,845
Staff costs
+€3,167
Depreciation
-€59,764
Other operating charges
-€9,099
Other operating items
-€179
Financial income
+€227
Financial charges
-€8,032
Taxes
-€917
Result 2025
-€236,627
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.
From operations
+€398,592
Investment
-€1.1m
Financing
+€654,762
Cash 2024
€207,803
From operations (derived)
+€398,592
Net result for the year
-€236,627
Depreciation
+€112,105
Stocks and contracts
-€51,238
Receivables within one year
-€76,156
Deferred charges and accrued income
-€9,985
Trade debts
+€133,562
Tax, wage and social debts
-€19,805
Other debts
+€527,919
Accrued charges and deferred income
+€18,816
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Current investments
-€10
Financing
+€654,762
Debts after one year
+€493,412
Current portion of long-term debt
+€36,957
Short-term financial debts
+€124,393
Cash 2025
€206,752
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,565,330 | €2,643,957 | +€1.1m | +68.9% |
| Fixed assets | 21/28 | €472,717 | €1,415,007 | +€942,290 | +199.3% |
| Intangible fixed assets | 21 | - | €13,470 | +€13,470 | |
| Tangible fixed assets | 22/27 | €466,699 | €1,395,519 | +€928,820 | +199.0% |
| Land and buildings | 22 | €255,645 | €340,140 | +€84,495 | +33.1% |
| Plant, machinery and equipment | 23 | €203,166 | €1,040,893 | +€837,727 | +412.3% |
| Furniture and vehicles | 24 | €7,888 | €14,486 | +€6,598 | +83.6% |
| Financial fixed assets | 28 | €6,018 | €6,018 | = | 0.0% |
| Current assets | 29/58 | €1,092,613 | €1,228,951 | +€136,337 | +12.5% |
| Stocks and contracts in progress | 3 | €604,700 | €655,938 | +€51,238 | +8.5% |
| Stocks | 30/36 | €604,700 | €655,938 | +€51,238 | +8.5% |
| Amounts receivable within one year | 40/41 | €272,363 | €348,519 | +€76,156 | +28.0% |
| Trade receivables | 40 | €264,902 | €313,580 | +€48,678 | +18.4% |
| Other amounts receivable | 41 | €7,461 | €34,940 | +€27,478 | +368.3% |
| Current investments | 50/53 | €2,314 | €2,323 | +€10 | +0.4% |
| Cash at bank and in hand | 54/58 | €207,803 | €206,752 | -€1,051 | -0.5% |
| Deferred charges and accrued income | 490/1 | €5,433 | €15,418 | +€9,985 | +183.8% |
| Total equity and liabilities | 10/49 | €1,565,330 | €2,643,957 | +€1.1m | +68.9% |
| Equity | 10/15 | €1,150,910 | €914,283 | -€236,627 | -20.6% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,135,000 | €1,135,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €1,110,000 | €1,110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€234,090 | -€470,717 | -€236,627 | -101.1% |
| Amounts payable | 17/49 | €414,420 | €1,729,674 | +€1.3m | +317.4% |
| Amounts payable after more than one year | 17 | - | €493,412 | +€493,412 | |
| Financial debts | 170/4 | - | €493,412 | +€493,412 | |
| Amounts payable within one year | 42/48 | €413,646 | €1,216,673 | +€803,027 | +194.1% |
| Current portion of amounts payable after more than one year | 42 | - | €36,957 | +€36,957 | |
| Financial debts | 43 | - | €124,393 | +€124,393 | |
| Credit institutions | 430/8 | - | €124,393 | +€124,393 | |
| Trade debts | 44 | €197,006 | €330,568 | +€133,562 | +67.8% |
| Suppliers | 440/4 | €197,006 | €330,568 | +€133,562 | +67.8% |
| Taxes, remuneration and social security | 45 | €145,119 | €125,314 | -€19,805 | -13.6% |
| Taxes | 450/3 | €25,906 | €1,743 | -€24,163 | -93.3% |
| Remuneration and social security | 454/9 | €119,213 | €123,571 | +€4,358 | +3.7% |
| Other amounts payable | 47/48 | €71,520 | €599,440 | +€527,919 | +738.1% |
| Accrued charges and deferred income | 492/3 | €774 | €19,590 | +€18,816 | +2431.2% |
| Remuneration, social security and pensions | 62 | €801,452 | €798,285 | -€3,167 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,341 | €112,105 | +€59,764 | +114.2% |
| Other operating charges | 640/8 | €14,056 | €23,155 | +€9,099 | +64.7% |
| Non-recurring operating charges | 66A | - | €179 | +€179 | |
| Gross operating margin | 9900 | €975,537 | €705,692 | -€269,845 | -27.7% |
| Operating profit (loss) | 9901 | €107,689 | -€228,031 | -€335,720 | |
| Financial income | 75/76B | €234 | €462 | +€227 | +97.1% |
| Recurring financial income | 75 | €234 | €462 | +€227 | +97.1% |
| Financial charges | 65/66B | €104 | €8,136 | +€8,032 | +7741.3% |
| Recurring financial charges | 65 | €104 | €8,136 | +€8,032 | +7741.3% |
| Profit (loss) for the period before taxes | 9903 | €107,819 | -€235,706 | -€343,525 | |
| Income taxes | 67/77 | €4 | €921 | +€917 | +22148.8% |
| Profit (loss) for the period | 9904 | €107,815 | -€236,627 | -€344,442 | |
| Profit (loss) for the period to be appropriated | 9905 | €107,815 | -€236,627 | -€344,442 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.