HAT TRICK: 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.
HAT TRICK
Largest movements
- Financial fixed assets +€8.9m
up €8.9m (+15.6%), from €57.0m to €65.9m
- Receivables within one year -€2.9m
down €2.9m (-8.7%), from €33.1m to €30.2m
of which Other amounts receivable: -€2.9m
- Debts after one year +€3.1m
up €3.1m (+13.8%), from €22.2m to €25.3m
- Other debts +€2.9m
up €2.9m (+7.0%), from €41.9m to €44.9m
- Profit (loss) carried forward +€1.4m
up €1.4m (+4.5%), from €31.2m to €32.7m
- Current portion of long-term debt -€1.4m
down €1.4m (-64.4%), from €2.1m to €747,119
- Financial income +€2.0m
up €2.0m (+258.3%), from €774,732 to €2.8m
of which Non-recurring financial income: +€2.1m
- Financial charges +€155,758
up €155,758 (+14.5%), from €1.1m to €1.2m
- Taxes +€69,021
new in 2025: €69,021
- Gross operating margin +€63,060
up €63,060 (+48.9%), from -€128,874 to -€65,814
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 | €100,218,162 | €106,210,911 | +€6.0m | +6.0% |
| Fixed assets | 21/28 | €57,028,855 | €65,898,855 | +€8.9m | +15.6% |
| Financial fixed assets | 28 | €57,028,855 | €65,898,855 | +€8.9m | +15.6% |
| Current assets | 29/58 | €43,189,307 | €40,312,057 | -€2.9m | -6.7% |
| Amounts receivable within one year | 40/41 | €33,122,915 | €30,245,852 | -€2.9m | -8.7% |
| Trade receivables | 40 | €196,592 | €194,323 | -€2,269 | -1.2% |
| Other amounts receivable | 41 | €32,926,324 | €30,051,529 | -€2.9m | -8.7% |
| Current investments | 50/53 | €10,000,000 | €10,000,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €66,392 | €66,204 | -€188 | -0.3% |
| Total equity and liabilities | 10/49 | €100,218,162 | €106,210,911 | +€6.0m | +6.0% |
| Equity | 10/15 | €31,779,400 | €33,191,744 | +€1.4m | +4.4% |
| Contributions | 10/11 | €285,217 | €285,217 | = | 0.0% |
| Reserves | 13 | €249,449 | €249,449 | = | 0.0% |
| Distributable reserves | 133 | €249,449 | €249,449 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,244,735 | €32,657,078 | +€1.4m | +4.5% |
| Amounts payable | 17/49 | €68,438,762 | €73,019,168 | +€4.6m | +6.7% |
| Amounts payable after more than one year | 17 | €22,200,000 | €25,270,523 | +€3.1m | +13.8% |
| Financial debts | 170/4 | €22,200,000 | €25,270,523 | +€3.1m | +13.8% |
| Amounts payable within one year | 42/48 | €46,099,491 | €47,605,817 | +€1.5m | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €2,100,000 | €747,119 | -€1.4m | -64.4% |
| Financial debts | 43 | €2,000,000 | €2,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €2,000,000 | €2,000,000 | = | 0.0% |
| Trade debts | 44 | €81,957 | €5,284 | -€76,674 | -93.6% |
| Suppliers | 440/4 | €81,957 | €5,284 | -€76,674 | -93.6% |
| Other amounts payable | 47/48 | €41,917,534 | €44,853,414 | +€2.9m | +7.0% |
| Accrued charges and deferred income | 492/3 | €139,271 | €142,827 | +€3,557 | +2.6% |
| Other operating charges | 640/8 | €1,298 | €998 | -€299 | -23.0% |
| Gross operating margin | 9900 | -€128,874 | -€65,814 | +€63,060 | +48.9% |
| Operating profit (loss) | 9901 | -€130,172 | -€66,813 | +€63,359 | +48.7% |
| Financial income | 75/76B | €774,732 | €2,775,739 | +€2.0m | +258.3% |
| Recurring financial income | 75 | €774,732 | €647,028 | -€127,704 | -16.5% |
| Non-recurring financial income | 76B | - | €2,128,711 | +€2.1m | |
| Financial charges | 65/66B | €1,071,804 | €1,227,562 | +€155,758 | +14.5% |
| Recurring financial charges | 65 | €1,071,804 | €1,227,562 | +€155,758 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€427,244 | €1,481,364 | +€1.9m | |
| Income taxes | 67/77 | - | €69,021 | +€69,021 | |
| Profit (loss) for the period | 9904 | -€427,244 | €1,412,344 | +€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€427,244 | €1,412,344 | +€1.8m |
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.