HAX TRADING: 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.
HAX TRADING
Largest movements
- Cash -€373,565
down €373,565 (-95.7%), from €390,550 to €16,985
mainly Trade debts (-€676,729) and Receivables after one year (-€100,000)
- Receivables within one year -€139,730
down €139,730 (-21.5%), from €650,855 to €511,124
of which Trade receivables: -€77,750
- Tangible fixed assets -€113,783
down €113,783 (-33.5%), from €339,259 to €225,476
of which Furniture and vehicles: -€102,882
- Receivables after one year +€100,000
up €100,000 (+75.5%), from €132,390 to €232,390
- Stocks and contracts -€89,037
down €89,037 (-14.0%), from €635,564 to €546,527
- Trade debts -€676,729
down €676,729 (-51.7%), from €1.3m to €631,536
- Profit (loss) carried forward +€98,033
up €98,033 (+45.3%), from €216,203 to €314,235
- Debts after one year -€71,987
down €71,987 (-21.3%), from €338,269 to €266,281
- Current portion of long-term debt +€38,576
up €38,576 (+47.6%), from €81,121 to €119,697
- Tax, wage and social debts -€33,452
down €33,452 (-23.0%), from €145,424 to €111,972
of which Taxes: -€30,974
- Gross operating margin +€185,781
up €185,781 (+64.5%), from €288,200 to €473,981
- Depreciation +€95,342
up €95,342 (+517%), from €18,441 to €113,783
- Taxes +€58,278
up €58,278 (+161%), from €36,120 to €94,398
- Financial charges +€41,824
up €41,824 (+427%), from €9,788 to €51,612
- Other operating charges -€20,323
down €20,323 (-58.7%), from €34,632 to €14,309
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 | €2,156,564 | €1,544,182 | -€612,382 | -28.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €347,205 | €233,422 | -€113,783 | -32.8% |
| Tangible fixed assets | 22/27 | €339,259 | €225,476 | -€113,783 | -33.5% |
| Plant, machinery and equipment | 23 | €19,085 | €13,312 | -€5,773 | -30.2% |
| Furniture and vehicles | 24 | €297,630 | €194,747 | -€102,882 | -34.6% |
| Leasing and similar rights | 25 | €22,545 | €17,417 | -€5,128 | -22.7% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €7,946 | €7,946 | = | 0.0% |
| Current assets | 29/58 | €1,809,359 | €1,310,760 | -€498,599 | -27.6% |
| Amounts receivable after more than one year | 29 | €132,390 | €232,390 | +€100,000 | +75.5% |
| Other amounts receivable | 291 | €132,390 | €232,390 | +€100,000 | +75.5% |
| Stocks and contracts in progress | 3 | €635,564 | €546,527 | -€89,037 | -14.0% |
| Stocks | 30/36 | €635,564 | €546,527 | -€89,037 | -14.0% |
| Amounts receivable within one year | 40/41 | €650,855 | €511,124 | -€139,730 | -21.5% |
| Trade receivables | 40 | €567,401 | €489,652 | -€77,750 | -13.7% |
| Other amounts receivable | 41 | €83,454 | €21,473 | -€61,981 | -74.3% |
| Cash at bank and in hand | 54/58 | €390,550 | €16,985 | -€373,565 | -95.7% |
| Deferred charges and accrued income | 490/1 | - | €3,734 | +€3,734 | |
| Total equity and liabilities | 10/49 | €2,156,564 | €1,544,182 | -€612,382 | -28.4% |
| Equity | 10/15 | €283,486 | €381,519 | +€98,033 | +34.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,684 | €48,684 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €46,824 | €46,824 | = | 0.0% |
| Profit (loss) carried forward | 14 | €216,203 | €314,235 | +€98,033 | +45.3% |
| Amounts payable | 17/49 | €1,873,078 | €1,162,664 | -€710,414 | -37.9% |
| Amounts payable after more than one year | 17 | €338,269 | €266,281 | -€71,987 | -21.3% |
| Financial debts | 170/4 | €338,269 | €266,281 | -€71,987 | -21.3% |
| Amounts payable within one year | 42/48 | €1,534,809 | €896,382 | -€638,427 | -41.6% |
| Current portion of amounts payable after more than one year | 42 | €81,121 | €119,697 | +€38,576 | +47.6% |
| Financial debts | 43 | - | €33,177 | +€33,177 | |
| Credit institutions | 430/8 | - | €33,177 | +€33,177 | |
| Trade debts | 44 | €1,308,264 | €631,536 | -€676,729 | -51.7% |
| Suppliers | 440/4 | €1,308,264 | €631,536 | -€676,729 | -51.7% |
| Taxes, remuneration and social security | 45 | €145,424 | €111,972 | -€33,452 | -23.0% |
| Taxes | 450/3 | €97,004 | €66,030 | -€30,974 | -31.9% |
| Remuneration and social security | 454/9 | €48,420 | €45,942 | -€2,478 | -5.1% |
| Remuneration, social security and pensions | 62 | €102,488 | €101,864 | -€624 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,441 | €113,783 | +€95,342 | +517% |
| Other operating charges | 640/8 | €34,632 | €14,309 | -€20,323 | -58.7% |
| Gross operating margin | 9900 | €288,200 | €473,981 | +€185,781 | +64.5% |
| Operating profit (loss) | 9901 | €132,638 | €244,024 | +€111,386 | +84.0% |
| Financial income | 75/76B | €82 | €18 | -€64 | -77.8% |
| Recurring financial income | 75 | €82 | €18 | -€64 | -77.8% |
| Financial charges | 65/66B | €9,788 | €51,612 | +€41,824 | +427% |
| Recurring financial charges | 65 | €9,788 | €51,612 | +€41,824 | +427% |
| Profit (loss) for the period before taxes | 9903 | €122,932 | €192,431 | +€69,499 | +56.5% |
| Income taxes | 67/77 | €36,120 | €94,398 | +€58,278 | +161% |
| Profit (loss) for the period | 9904 | €86,812 | €98,033 | +€11,220 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €86,812 | €98,033 | +€11,220 | +12.9% |
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 28 October 2026 via checked.be.