Hat-Rock: 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.
Hat-Rock
Largest movements
- Cash +€50,328
up €50,328 (+158%), from €31,894 to €82,222
mainly Net result for the year (+€33,906) and Depreciation (+€29,303)
- Tangible fixed assets +€24,243
up €24,243 (+153%), from €15,894 to €40,137
- Intangible fixed assets -€17,000
down €17,000 (-26.1%), from €65,167 to €48,167
- Receivables within one year -€8,410
down €8,410 (-21.9%), from €38,360 to €29,950
of which Other amounts receivable: -€6,922
- Reserves +€33,906
up €33,906 (+74.1%), from €45,763 to €79,669
- Other debts +€9,873
up €9,873 (+11.0%), from €89,571 to €99,444
- Trade debts +€3,393
up €3,393 (+695%), from €488 to €3,881
- Tax, wage and social debts +€2,538
up €2,538 (+15.1%), from €16,769 to €19,307
of which Taxes: +€2,516
- Gross operating margin +€11,608
up €11,608 (+16.7%), from €69,466 to €81,074
- Depreciation +€3,970
up €3,970 (+15.7%), from €25,333 to €29,303
- Taxes +€3,108
up €3,108 (+24.8%), from €12,531 to €15,639
- Other operating charges -€1,483
down €1,483 (-42.2%), from €3,517 to €2,033
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.
Derived cash bridge
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 | €154,591 | €204,301 | +€49,709 | +32.2% |
| Fixed assets | 21/28 | €81,061 | €88,303 | +€7,243 | +8.9% |
| Intangible fixed assets | 21 | €65,167 | €48,167 | -€17,000 | -26.1% |
| Tangible fixed assets | 22/27 | €15,894 | €40,137 | +€24,243 | +153% |
| Furniture and vehicles | 24 | €15,894 | €40,137 | +€24,243 | +153% |
| Current assets | 29/58 | €73,530 | €115,997 | +€42,467 | +57.8% |
| Amounts receivable within one year | 40/41 | €38,360 | €29,950 | -€8,410 | -21.9% |
| Trade receivables | 40 | €28,332 | €26,844 | -€1,488 | -5.3% |
| Other amounts receivable | 41 | €10,029 | €3,107 | -€6,922 | -69.0% |
| Cash at bank and in hand | 54/58 | €31,894 | €82,222 | +€50,328 | +158% |
| Deferred charges and accrued income | 490/1 | €3,276 | €3,825 | +€549 | +16.8% |
| Total equity and liabilities | 10/49 | €154,591 | €204,301 | +€49,709 | +32.2% |
| Equity | 10/15 | €47,763 | €81,669 | +€33,906 | +71.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €45,763 | €79,669 | +€33,906 | +74.1% |
| Distributable reserves | 133 | €45,763 | €79,669 | +€33,906 | +74.1% |
| Amounts payable | 17/49 | €106,828 | €122,631 | +€15,803 | +14.8% |
| Amounts payable within one year | 42/48 | €106,828 | €122,631 | +€15,803 | +14.8% |
| Trade debts | 44 | €488 | €3,881 | +€3,393 | +695% |
| Suppliers | 440/4 | €488 | €3,881 | +€3,393 | +695% |
| Taxes, remuneration and social security | 45 | €16,769 | €19,307 | +€2,538 | +15.1% |
| Taxes | 450/3 | €13,394 | €15,910 | +€2,516 | +18.8% |
| Remuneration and social security | 454/9 | €3,375 | €3,396 | +€21 | +0.6% |
| Other amounts payable | 47/48 | €89,571 | €99,444 | +€9,873 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,333 | €29,303 | +€3,970 | +15.7% |
| Other operating charges | 640/8 | €3,517 | €2,033 | -€1,483 | -42.2% |
| Gross operating margin | 9900 | €69,466 | €81,074 | +€11,608 | +16.7% |
| Operating profit (loss) | 9901 | €40,616 | €49,737 | +€9,121 | +22.5% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.6% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.6% |
| Financial charges | 65/66B | €53 | €192 | +€139 | +264% |
| Recurring financial charges | 65 | €53 | €192 | +€139 | +264% |
| Profit (loss) for the period before taxes | 9903 | €40,568 | €49,545 | +€8,977 | +22.1% |
| Income taxes | 67/77 | €12,531 | €15,639 | +€3,108 | +24.8% |
| Profit (loss) for the period | 9904 | €28,037 | €33,906 | +€5,869 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,037 | €33,906 | +€5,869 | +20.9% |
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 13 October 2026 via checked.be.