HATEFI: 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.
HATEFI
Largest movements
- Receivables within one year -€16,189
down €16,189 (-34.7%), from €46,705 to €30,516
- Tangible fixed assets -€6,420
down €6,420 (-11.7%), from €54,751 to €48,332
of which Plant, machinery and equipment: -€6,338
- Cash +€6,358
up €6,358 (+34.5%), from €18,428 to €24,786
mainly Net result for the year (+€24,852) and Receivables within one year (+€16,189)
- Debts after one year -€8,377
down €8,377 (-25.1%), from €33,411 to €25,034
- Tax, wage and social debts -€7,681
down €7,681 (-64.0%), from €12,004 to €4,323
of which Taxes: -€7,000
- Other debts -€3,500
down €3,500 (-14.0%), from €25,000 to €21,500
- Profit (loss) carried forward +€3,352
up €3,352 (+23.6%), from €14,223 to €17,574
- Gross operating margin +€3,959
up €3,959 (+9.2%), from €42,858 to €46,817
- Depreciation +€2,002
up €2,002 (+37.7%), from €5,305 to €7,308
- Other operating charges +€1,336
up €1,336 (+37.9%), from €3,524 to €4,859
- Financial charges +€986
up €986 (+98.4%), from €1,001 to €1,987
- Staff costs +€899
new in 2025: €899
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 | €123,873 | €108,056 | -€15,818 | -12.8% |
| Fixed assets | 21/28 | €54,751 | €48,332 | -€6,420 | -11.7% |
| Tangible fixed assets | 22/27 | €54,751 | €48,332 | -€6,420 | -11.7% |
| Plant, machinery and equipment | 23 | €53,889 | €47,551 | -€6,338 | -11.8% |
| Furniture and vehicles | 24 | €863 | €781 | -€82 | -9.5% |
| Current assets | 29/58 | €69,122 | €59,724 | -€9,398 | -13.6% |
| Amounts receivable within one year | 40/41 | €46,705 | €30,516 | -€16,189 | -34.7% |
| Other amounts receivable | 41 | €46,705 | €30,516 | -€16,189 | -34.7% |
| Cash at bank and in hand | 54/58 | €18,428 | €24,786 | +€6,358 | +34.5% |
| Deferred charges and accrued income | 490/1 | €3,989 | €4,421 | +€433 | +10.8% |
| Total equity and liabilities | 10/49 | €123,873 | €108,056 | -€15,818 | -12.8% |
| Equity | 10/15 | €34,683 | €38,034 | +€3,352 | +9.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €14,223 | €17,574 | +€3,352 | +23.6% |
| Amounts payable | 17/49 | €89,191 | €70,021 | -€19,169 | -21.5% |
| Amounts payable after more than one year | 17 | €33,411 | €25,034 | -€8,377 | -25.1% |
| Financial debts | 170/4 | €33,411 | €25,034 | -€8,377 | -25.1% |
| Amounts payable within one year | 42/48 | €54,920 | €44,987 | -€9,932 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €8,016 | €8,377 | +€361 | +4.5% |
| Trade debts | 44 | €9,900 | €10,787 | +€888 | +9.0% |
| Suppliers | 440/4 | €9,900 | €10,787 | +€888 | +9.0% |
| Taxes, remuneration and social security | 45 | €12,004 | €4,323 | -€7,681 | -64.0% |
| Taxes | 450/3 | €11,323 | €4,323 | -€7,000 | -61.8% |
| Remuneration and social security | 454/9 | €681 | - | -€681 | |
| Other amounts payable | 47/48 | €25,000 | €21,500 | -€3,500 | -14.0% |
| Accrued charges and deferred income | 492/3 | €860 | - | -€860 | |
| Non-recurring operating income | 76A | - | €1,785 | +€1,785 | |
| Remuneration, social security and pensions | 62 | - | €899 | +€899 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,305 | €7,308 | +€2,002 | +37.7% |
| Other operating charges | 640/8 | €3,524 | €4,859 | +€1,336 | +37.9% |
| Gross operating margin | 9900 | €42,858 | €46,817 | +€3,959 | +9.2% |
| Operating profit (loss) | 9901 | €34,029 | €33,751 | -€277 | -0.8% |
| Financial income | 75/76B | €2,692 | €2,001 | -€690 | -25.6% |
| Recurring financial income | 75 | €2,692 | €2,001 | -€690 | -25.6% |
| Financial charges | 65/66B | €1,001 | €1,987 | +€986 | +98.4% |
| Recurring financial charges | 65 | €1,001 | €1,987 | +€986 | +98.4% |
| Profit (loss) for the period before taxes | 9903 | €35,719 | €33,766 | -€1,953 | -5.5% |
| Income taxes | 67/77 | €9,323 | €8,914 | -€409 | -4.4% |
| Profit (loss) for the period | 9904 | €26,396 | €24,852 | -€1,544 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,396 | €24,852 | -€1,544 | -5.8% |
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.