HAWER: 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.
HAWER
Largest movements
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Cash +€201,990
up €201,990 (+319.4%), from €63,250 to €265,240
mainly Current investments (+€250,000) and Depreciation (+€16,694)
- Tangible fixed assets -€16,694
down €16,694 (-3.1%), from €538,102 to €521,408
- Other debts -€59,100
down €59,100 (-25.2%), from €234,679 to €175,579
- Financial income +€7,046
up €7,046 (+367.6%), from €1,917 to €8,964
- Gross operating margin +€1,856
up €1,856 (+19.3%), from €9,604 to €11,460
- Other operating charges +€1,615
up €1,615 (+34.4%), from €4,693 to €6,309
- Depreciation -€466
down €466 (-2.7%), from €17,160 to €16,694
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 | €853,766 | €792,035 | -€61,731 | -7.2% |
| Fixed assets | 21/28 | €538,102 | €521,408 | -€16,694 | -3.1% |
| Tangible fixed assets | 22/27 | €538,102 | €521,408 | -€16,694 | -3.1% |
| Land and buildings | 22 | €538,102 | €521,408 | -€16,694 | -3.1% |
| Current assets | 29/58 | €315,664 | €270,627 | -€45,037 | -14.3% |
| Amounts receivable within one year | 40/41 | €47 | €2,125 | +€2,078 | +4411.4% |
| Other amounts receivable | 41 | €47 | €2,125 | +€2,078 | +4411.4% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €63,250 | €265,240 | +€201,990 | +319.4% |
| Deferred charges and accrued income | 490/1 | €2,368 | €3,262 | +€894 | +37.8% |
| Total equity and liabilities | 10/49 | €853,766 | €792,035 | -€61,731 | -7.2% |
| Equity | 10/15 | €617,587 | €614,350 | -€3,238 | -0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €707,089 | €707,089 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | - | -€6,200 | |
| Reserves not available under the articles | 1311 | €6,200 | - | -€6,200 | |
| Distributable reserves | 133 | €700,889 | €707,089 | +€6,200 | +0.9% |
| Profit (loss) carried forward | 14 | -€151,501 | -€154,739 | -€3,238 | -2.1% |
| Amounts payable | 17/49 | €236,179 | €177,685 | -€58,493 | -24.8% |
| Amounts payable after more than one year | 17 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 178/9 | €1,500 | €1,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €234,679 | €176,185 | -€58,493 | -24.9% |
| Trade debts | 44 | - | €607 | +€607 | |
| Suppliers | 440/4 | - | €607 | +€607 | |
| Other amounts payable | 47/48 | €234,679 | €175,579 | -€59,100 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,160 | €16,694 | -€466 | -2.7% |
| Other operating charges | 640/8 | €4,693 | €6,309 | +€1,615 | +34.4% |
| Gross operating margin | 9900 | €9,604 | €11,460 | +€1,856 | +19.3% |
| Operating profit (loss) | 9901 | -€12,250 | -€11,542 | +€707 | +5.8% |
| Financial income | 75/76B | €1,917 | €8,964 | +€7,046 | +367.6% |
| Recurring financial income | 75 | €1,917 | €8,964 | +€7,046 | +367.6% |
| Financial charges | 65/66B | €68 | €95 | +€28 | +40.9% |
| Recurring financial charges | 65 | €68 | €95 | +€28 | +40.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,400 | -€2,674 | +€7,726 | +74.3% |
| Income taxes | 67/77 | €528 | €564 | +€36 | +6.8% |
| Profit (loss) for the period | 9904 | -€10,928 | -€3,238 | +€7,690 | +70.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,928 | -€3,238 | +€7,690 | +70.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.