HAWIN: 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.
HAWIN
Largest movements
- Receivables within one year +€282,920
up €282,920 (+36.8%), from €769,577 to €1.1m
of which Other amounts receivable: +€287,473
- Tangible fixed assets +€63,223
up €63,223 (+11.5%), from €551,103 to €614,326
of which Land and buildings: +€35,215
- Short-term financial debts +€345,000
new in 2025: €345,000
- Other debts -€24,688
down €24,688 (-19.2%), from €128,663 to €103,976
- Trade debts +€18,398
up €18,398 (+19.8%), from €93,150 to €111,547
- Gross operating margin -€35,155
down €35,155 (-43.8%), from €80,254 to €45,099
- Taxes -€13,623
down €13,623 (-94.0%), from €14,489 to €866
- Depreciation +€10,108
up €10,108 (+73.9%), from €13,677 to €23,785
- Financial charges +€10,100
up €10,100 (+310.6%), from €3,252 to €13,352
- Other operating charges +€7,065
up €7,065 (+1398.1%), from €505 to €7,570
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 | €1,455,573 | €1,785,184 | +€329,611 | +22.6% |
| Fixed assets | 21/28 | €556,146 | €619,370 | +€63,223 | +11.4% |
| Tangible fixed assets | 22/27 | €551,103 | €614,326 | +€63,223 | +11.5% |
| Land and buildings | 22 | €536,763 | €571,977 | +€35,215 | +6.6% |
| Plant, machinery and equipment | 23 | €1,876 | €34,014 | +€32,138 | +1713.4% |
| Furniture and vehicles | 24 | €12,465 | €8,335 | -€4,129 | -33.1% |
| Financial fixed assets | 28 | €5,043 | €5,043 | = | 0.0% |
| Current assets | 29/58 | €899,426 | €1,165,814 | +€266,388 | +29.6% |
| Amounts receivable after more than one year | 29 | €9,000 | €9,000 | = | 0.0% |
| Trade receivables | 290 | €9,000 | €9,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €769,577 | €1,052,497 | +€282,920 | +36.8% |
| Trade receivables | 40 | €6,144 | €1,591 | -€4,553 | -74.1% |
| Other amounts receivable | 41 | €763,432 | €1,050,906 | +€287,473 | +37.7% |
| Cash at bank and in hand | 54/58 | €115,217 | €101,976 | -€13,241 | -11.5% |
| Deferred charges and accrued income | 490/1 | €5,633 | €2,342 | -€3,291 | -58.4% |
| Total equity and liabilities | 10/49 | €1,455,573 | €1,785,184 | +€329,611 | +22.6% |
| Equity | 10/15 | €1,032,069 | €1,031,776 | -€293 | 0.0% |
| Contributions | 10/11 | €478,400 | €478,400 | = | 0.0% |
| Capital | 10 | €478,400 | €478,400 | = | 0.0% |
| Issued capital | 100 | €478,400 | €478,400 | = | 0.0% |
| Reserves | 13 | €47,840 | €47,840 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,840 | €47,840 | = | 0.0% |
| Legal reserve | 130 | €47,840 | €47,840 | = | 0.0% |
| Profit (loss) carried forward | 14 | €505,829 | €505,536 | -€293 | -0.1% |
| Amounts payable | 17/49 | €423,504 | €753,409 | +€329,905 | +77.9% |
| Amounts payable after more than one year | 17 | €73,750 | €73,750 | = | 0.0% |
| Financial debts | 170/4 | €73,750 | €73,750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €250,065 | €578,348 | +€328,283 | +131.3% |
| Financial debts | 43 | - | €345,000 | +€345,000 | |
| Credit institutions | 430/8 | - | €345,000 | +€345,000 | |
| Trade debts | 44 | €93,150 | €111,547 | +€18,398 | +19.8% |
| Suppliers | 440/4 | €93,150 | €111,547 | +€18,398 | +19.8% |
| Taxes, remuneration and social security | 45 | €28,252 | €17,825 | -€10,428 | -36.9% |
| Taxes | 450/3 | €28,252 | €17,825 | -€10,428 | -36.9% |
| Other amounts payable | 47/48 | €128,663 | €103,976 | -€24,688 | -19.2% |
| Accrued charges and deferred income | 492/3 | €99,689 | €101,311 | +€1,622 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,677 | €23,785 | +€10,108 | +73.9% |
| Other operating charges | 640/8 | €505 | €7,570 | +€7,065 | +1398.1% |
| Gross operating margin | 9900 | €80,254 | €45,099 | -€35,155 | -43.8% |
| Operating profit (loss) | 9901 | €66,072 | €13,745 | -€52,327 | -79.2% |
| Financial income | 75/76B | €646 | €180 | -€466 | -72.2% |
| Recurring financial income | 75 | €646 | €180 | -€466 | -72.2% |
| Financial charges | 65/66B | €3,252 | €13,352 | +€10,100 | +310.6% |
| Recurring financial charges | 65 | €3,252 | €13,352 | +€10,100 | +310.6% |
| Profit (loss) for the period before taxes | 9903 | €63,466 | €573 | -€62,893 | -99.1% |
| Income taxes | 67/77 | €14,489 | €866 | -€13,623 | -94.0% |
| Profit (loss) for the period | 9904 | €48,977 | -€293 | -€49,271 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,977 | -€293 | -€49,271 |
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 9 October 2026 via checked.be.