HATS: 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.
HATS
Largest movements
- Cash -€127,227
down €127,227 (-70.6%), from €180,316 to €53,089
mainly Current investments (-€94,850) and Net result for the year (-€35,963)
- Current investments +€94,850
new in 2025: €94,850
- Profit (loss) carried forward -€35,963
down €35,963 (-6.3%), from €575,144 to €539,181
- Purchases and services +€80,758
new in 2025: €80,758
- Gross operating margin -€21,691
down €21,691, from €16,507 to -€5,184
- Other operating charges +€6,873
up €6,873 (+91.4%), from €7,520 to €14,393
- Depreciation +€1,618
up €1,618 (+10.4%), from €15,521 to €17,139
- Taxes +€590
new in 2025: €590
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 | €726,243 | €697,607 | -€28,636 | -3.9% |
| Fixed assets | 21/28 | €515,429 | €516,637 | +€1,207 | +0.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €392,589 | €393,796 | +€1,207 | +0.3% |
| Land and buildings | 22 | €373,900 | €359,301 | -€14,599 | -3.9% |
| Other tangible fixed assets | 26 | €18,689 | €34,495 | +€15,806 | +84.6% |
| Financial fixed assets | 28 | €122,841 | €122,841 | = | 0.0% |
| Current assets | 29/58 | €210,814 | €180,970 | -€29,843 | -14.2% |
| Amounts receivable within one year | 40/41 | €22,385 | €25,954 | +€3,569 | +15.9% |
| Trade receivables | 40 | €301 | €3,041 | +€2,740 | +909% |
| Other amounts receivable | 41 | €22,084 | €22,913 | +€829 | +3.8% |
| Current investments | 50/53 | - | €94,850 | +€94,850 | |
| Cash at bank and in hand | 54/58 | €180,316 | €53,089 | -€127,227 | -70.6% |
| Deferred charges and accrued income | 490/1 | €8,112 | €7,077 | -€1,035 | -12.8% |
| Total equity and liabilities | 10/49 | €726,243 | €697,607 | -€28,636 | -3.9% |
| Equity | 10/15 | €717,672 | €681,709 | -€35,963 | -5.0% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €17,528 | €17,528 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €5,028 | €5,028 | = | 0.0% |
| Profit (loss) carried forward | 14 | €575,144 | €539,181 | -€35,963 | -6.3% |
| Amounts payable | 17/49 | €8,571 | €15,898 | +€7,327 | +85.5% |
| Amounts payable within one year | 42/48 | €8,571 | €14,844 | +€6,273 | +73.2% |
| Trade debts | 44 | €7,300 | €14,025 | +€6,725 | +92.1% |
| Suppliers | 440/4 | €7,300 | €14,025 | +€6,725 | +92.1% |
| Taxes, remuneration and social security | 45 | €35 | €35 | = | 0.0% |
| Taxes | 450/3 | €35 | €35 | = | 0.0% |
| Other amounts payable | 47/48 | €1,236 | €785 | -€452 | -36.6% |
| Accrued charges and deferred income | 492/3 | - | €1,054 | +€1,054 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €80,758 | +€80,758 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,521 | €17,139 | +€1,618 | +10.4% |
| Other operating charges | 640/8 | €7,520 | €14,393 | +€6,873 | +91.4% |
| Gross operating margin | 9900 | €16,507 | -€5,184 | -€21,691 | |
| Operating profit (loss) | 9901 | -€6,533 | -€36,715 | -€30,182 | -462% |
| Financial income | 75/76B | €1,766 | €2,067 | +€302 | +17.1% |
| Recurring financial income | 75 | €1,766 | €2,067 | +€302 | +17.1% |
| Financial charges | 65/66B | €726 | €726 | = | 0.0% |
| Recurring financial charges | 65 | €726 | €726 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,493 | -€35,374 | -€29,881 | -544% |
| Income taxes | 67/77 | - | €590 | +€590 | |
| Profit (loss) for the period | 9904 | -€5,493 | -€35,963 | -€30,470 | -555% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,493 | -€35,963 | -€30,470 | -555% |
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.