HAWEX: 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.
HAWEX
Largest movements
- Cash +€4,485
up €4,485 (+781.6%), from €574 to €5,059
mainly Net result for the year (+€4,457) and Depreciation (+€833)
- Receivables within one year +€1,364
up €1,364 (+5.3%), from €25,581 to €26,945
of which Other amounts receivable: +€1,845
- Tangible fixed assets -€833
down €833 (-49.4%), from €1,687 to €854
- Reserves +€4,457
up €4,457 (+45.8%), from €9,728 to €14,185
- Tax, wage and social debts +€635
up €635 (+3.6%), from €17,671 to €18,306
- Gross operating margin +€3,069
up €3,069 (+70.5%), from €4,352 to €7,421
- Taxes +€623
up €623 (+77.7%), from €802 to €1,425
- Financial charges -€93
down €93 (-59.0%), from €157 to €65
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 | €27,874 | €32,891 | +€5,017 | +18.0% |
| Fixed assets | 21/28 | €1,687 | €854 | -€833 | -49.4% |
| Tangible fixed assets | 22/27 | €1,687 | €854 | -€833 | -49.4% |
| Furniture and vehicles | 24 | €1,687 | €854 | -€833 | -49.4% |
| Current assets | 29/58 | €26,187 | €32,037 | +€5,850 | +22.3% |
| Amounts receivable within one year | 40/41 | €25,581 | €26,945 | +€1,364 | +5.3% |
| Trade receivables | 40 | €19,006 | €18,525 | -€481 | -2.5% |
| Other amounts receivable | 41 | €6,575 | €8,420 | +€1,845 | +28.1% |
| Cash at bank and in hand | 54/58 | €574 | €5,059 | +€4,485 | +781.6% |
| Deferred charges and accrued income | 490/1 | €32 | €34 | +€1 | +4.7% |
| Total equity and liabilities | 10/49 | €27,874 | €32,891 | +€5,017 | +18.0% |
| Equity | 10/15 | €10,128 | €14,585 | +€4,457 | +44.0% |
| Contributions | 10/11 | €400 | €400 | = | 0.0% |
| Reserves | 13 | €9,728 | €14,185 | +€4,457 | +45.8% |
| Distributable reserves | 133 | €9,728 | €14,185 | +€4,457 | +45.8% |
| Amounts payable | 17/49 | €17,746 | €18,306 | +€560 | +3.2% |
| Amounts payable within one year | 42/48 | €17,746 | €18,306 | +€560 | +3.2% |
| Trade debts | 44 | €75 | €0 | -€75 | -100.0% |
| Suppliers | 440/4 | €75 | €0 | -€75 | -100.0% |
| Taxes, remuneration and social security | 45 | €17,671 | €18,306 | +€635 | +3.6% |
| Taxes | 450/3 | €17,671 | €18,306 | +€635 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €813 | €833 | +€20 | +2.5% |
| Other operating charges | 640/8 | €1,051 | €1,047 | -€4 | -0.4% |
| Gross operating margin | 9900 | €4,352 | €7,421 | +€3,069 | +70.5% |
| Operating profit (loss) | 9901 | €2,488 | €5,541 | +€3,052 | +122.7% |
| Financial income | 75/76B | €357 | €407 | +€49 | +13.8% |
| Recurring financial income | 75 | €357 | €407 | +€49 | +13.8% |
| Financial charges | 65/66B | €157 | €65 | -€93 | -59.0% |
| Recurring financial charges | 65 | €157 | €65 | -€93 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €2,688 | €5,883 | +€3,194 | +118.8% |
| Income taxes | 67/77 | €802 | €1,425 | +€623 | +77.7% |
| Profit (loss) for the period | 9904 | €1,886 | €4,457 | +€2,571 | +136.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,886 | €4,457 | +€2,571 | +136.3% |
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 6 October 2026 via checked.be.