HAWX: 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.
HAWX
Largest movements
- Cash +€66,312
up €66,312 (+60.7%), from €109,303 to €175,614
mainly Net result for the year (+€85,862) and Depreciation (+€11,836)
- Receivables within one year +€26,163
up €26,163 (+159%), from €16,440 to €42,602
of which Trade receivables: +€25,738
- Tangible fixed assets +€4,464
up €4,464 (+13.4%), from €33,396 to €37,861
of which Plant, machinery and equipment: +€15,719
- Reserves +€85,862
up €85,862 (+86.9%), from €98,826 to €184,689
- Tax, wage and social debts +€10,836
up €10,836 (+18.6%), from €58,312 to €69,148
- Depreciation +€11,467
up €11,467 (+3,106%), from €369 to €11,836
- Gross operating margin -€10,939
down €10,939 (-8.3%), from €132,138 to €121,199
- Taxes -€9,637
down €9,637 (-29.3%), from €32,942 to €23,305
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 | €159,138 | €256,326 | +€97,187 | +61.1% |
| Fixed assets | 21/28 | €33,396 | €37,861 | +€4,464 | +13.4% |
| Tangible fixed assets | 22/27 | €33,396 | €37,861 | +€4,464 | +13.4% |
| Plant, machinery and equipment | 23 | - | €15,719 | +€15,719 | |
| Furniture and vehicles | 24 | €33,396 | €22,141 | -€11,255 | -33.7% |
| Current assets | 29/58 | €125,742 | €218,465 | +€92,723 | +73.7% |
| Amounts receivable within one year | 40/41 | €16,440 | €42,602 | +€26,163 | +159% |
| Trade receivables | 40 | €16,440 | €42,178 | +€25,738 | +157% |
| Other amounts receivable | 41 | - | €424 | +€424 | |
| Cash at bank and in hand | 54/58 | €109,303 | €175,614 | +€66,312 | +60.7% |
| Deferred charges and accrued income | 490/1 | - | €249 | +€249 | |
| Total equity and liabilities | 10/49 | €159,138 | €256,326 | +€97,187 | +61.1% |
| Equity | 10/15 | €100,826 | €186,689 | +€85,862 | +85.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €98,826 | €184,689 | +€85,862 | +86.9% |
| Distributable reserves | 133 | €98,826 | €184,689 | +€85,862 | +86.9% |
| Amounts payable | 17/49 | €58,312 | €69,637 | +€11,325 | +19.4% |
| Amounts payable within one year | 42/48 | €58,312 | €69,637 | +€11,325 | +19.4% |
| Trade debts | 44 | - | €489 | +€489 | |
| Suppliers | 440/4 | - | €489 | +€489 | |
| Taxes, remuneration and social security | 45 | €58,312 | €69,148 | +€10,836 | +18.6% |
| Taxes | 450/3 | €58,312 | €69,148 | +€10,836 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €369 | €11,836 | +€11,467 | +3,106% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €132,138 | €121,199 | -€10,939 | -8.3% |
| Operating profit (loss) | 9901 | €131,769 | €109,243 | -€22,525 | -17.1% |
| Financial income | 75/76B | - | €21 | +€21 | |
| Recurring financial income | 75 | - | €21 | +€21 | |
| Financial charges | 65/66B | -€0 | €98 | +€98 | |
| Recurring financial charges | 65 | -€0 | €98 | +€98 | |
| Profit (loss) for the period before taxes | 9903 | €131,769 | €109,167 | -€22,602 | -17.2% |
| Income taxes | 67/77 | €32,942 | €23,305 | -€9,637 | -29.3% |
| Profit (loss) for the period | 9904 | €98,826 | €85,862 | -€12,964 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €98,826 | €85,862 | -€12,964 | -13.1% |
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 14 October 2026 via checked.be.