HAWK WHEELS: 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.
HAWK WHEELS
Largest movements
- Receivables within one year +€16,014
up €16,014 (+81.4%), from €19,679 to €35,693
of which Trade receivables: +€18,453
- Cash +€10,325
up €10,325 (+108.4%), from €9,523 to €19,848
mainly Net result for the year (+€40,557) and Tax, wage and social debts (+€5,351)
- Tangible fixed assets +€5,067
up €5,067 (+73.8%), from €6,864 to €11,931
of which Land and buildings: +€5,264
- Stocks and contracts +€3,064
up €3,064 (+6.2%), from €49,127 to €52,191
- Reserves +€40,557
up €40,557 (+63.4%), from €64,012 to €104,569
- Trade debts -€10,490
down €10,490 (-60.1%), from €17,463 to €6,973
- Tax, wage and social debts +€5,351
up €5,351 (+643.1%), from €832 to €6,183
- Gross operating margin +€46,002
up €46,002 (+291.3%), from €15,791 to €61,793
- Taxes +€13,070
up €13,070 (+361.1%), from €3,619 to €16,689
- Write-downs -€2,394
no longer reported in 2025 (was €2,394)
- Staff costs +€1,728
new in 2025: €1,728
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 | €85,193 | €120,502 | +€35,309 | +41.4% |
| Fixed assets | 21/28 | €6,864 | €11,931 | +€5,067 | +73.8% |
| Tangible fixed assets | 22/27 | €6,864 | €11,931 | +€5,067 | +73.8% |
| Land and buildings | 22 | €5,905 | €11,169 | +€5,264 | +89.1% |
| Furniture and vehicles | 24 | €959 | €762 | -€197 | -20.5% |
| Current assets | 29/58 | €78,329 | €108,571 | +€30,242 | +38.6% |
| Stocks and contracts in progress | 3 | €49,127 | €52,191 | +€3,064 | +6.2% |
| Stocks | 30/36 | €49,127 | €52,191 | +€3,064 | +6.2% |
| Amounts receivable within one year | 40/41 | €19,679 | €35,693 | +€16,014 | +81.4% |
| Trade receivables | 40 | €3,604 | €22,057 | +€18,453 | +512.0% |
| Other amounts receivable | 41 | €16,075 | €13,636 | -€2,439 | -15.2% |
| Current investments | 50/53 | - | €200 | +€200 | |
| Cash at bank and in hand | 54/58 | €9,523 | €19,848 | +€10,325 | +108.4% |
| Deferred charges and accrued income | 490/1 | - | €639 | +€639 | |
| Total equity and liabilities | 10/49 | €85,193 | €120,502 | +€35,309 | +41.4% |
| Equity | 10/15 | €66,012 | €106,569 | +€40,557 | +61.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €64,012 | €104,569 | +€40,557 | +63.4% |
| Distributable reserves | 133 | €64,012 | €104,569 | +€40,557 | +63.4% |
| Amounts payable | 17/49 | €19,181 | €13,933 | -€5,248 | -27.4% |
| Amounts payable within one year | 42/48 | €19,181 | €13,933 | -€5,248 | -27.4% |
| Financial debts | 43 | €886 | €777 | -€109 | -12.3% |
| Credit institutions | 430/8 | €886 | €777 | -€109 | -12.3% |
| Trade debts | 44 | €17,463 | €6,973 | -€10,490 | -60.1% |
| Suppliers | 440/4 | €17,463 | €6,973 | -€10,490 | -60.1% |
| Taxes, remuneration and social security | 45 | €832 | €6,183 | +€5,351 | +643.1% |
| Taxes | 450/3 | €832 | €6,183 | +€5,351 | +643.1% |
| Remuneration, social security and pensions | 62 | - | €1,728 | +€1,728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €796 | €975 | +€179 | +22.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,394 | - | -€2,394 | |
| Other operating charges | 640/8 | €1,443 | €1,815 | +€372 | +25.8% |
| Gross operating margin | 9900 | €15,791 | €61,793 | +€46,002 | +291.3% |
| Operating profit (loss) | 9901 | €11,158 | €57,275 | +€46,117 | +413.3% |
| Financial income | 75/76B | - | €30 | +€30 | |
| Recurring financial income | 75 | - | €30 | +€30 | |
| Financial charges | 65/66B | €52 | €59 | +€7 | +13.5% |
| Recurring financial charges | 65 | €52 | €59 | +€7 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €11,106 | €57,246 | +€46,140 | +415.5% |
| Income taxes | 67/77 | €3,619 | €16,689 | +€13,070 | +361.1% |
| Profit (loss) for the period | 9904 | €7,487 | €40,557 | +€33,070 | +441.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,487 | €40,557 | +€33,070 | +441.7% |
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 9 October 2026 via checked.be.