HAXCO: 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.
HAXCO
Largest movements
- Receivables after one year +€35,560
new in 2025: €35,560
- Cash +€29,115
up €29,115 (+6.1%), from €473,497 to €502,612
mainly Net result for the year (+€63,608) and Trade debts (+€19,754)
- Deferred charges and accrued income +€14,303
new in 2025: €14,303
- Reserves +€63,608
up €63,608 (+7.9%), from €804,470 to €868,078
- Trade debts +€19,754
up €19,754 (+367%), from €5,379 to €25,133
- Tax, wage and social debts -€13,407
down €13,407 (-37.0%), from €36,208 to €22,801
of which Taxes: -€9,274
- Gross operating margin -€70,964
down €70,964 (-41.7%), from €170,134 to €99,169
- Taxes -€20,165
down €20,165 (-45.2%), from €44,564 to €24,399
- Depreciation -€2,756
down €2,756 (-32.7%), from €8,435 to €5,679
- Other operating charges +€2,185
up €2,185 (+61.9%), from €3,529 to €5,714
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 | €864,657 | €936,703 | +€72,046 | +8.3% |
| Fixed assets | 21/28 | €361,473 | €356,798 | -€4,675 | -1.3% |
| Tangible fixed assets | 22/27 | €40,983 | €36,708 | -€4,275 | -10.4% |
| Plant, machinery and equipment | 23 | €1,047 | €2,193 | +€1,146 | +110% |
| Furniture and vehicles | 24 | €330 | €0 | -€330 | -100% |
| Other tangible fixed assets | 26 | €39,606 | €34,516 | -€5,091 | -12.9% |
| Financial fixed assets | 28 | €320,490 | €320,090 | -€400 | -0.1% |
| Current assets | 29/58 | €503,184 | €579,905 | +€76,720 | +15.2% |
| Amounts receivable after more than one year | 29 | - | €35,560 | +€35,560 | |
| Other amounts receivable | 291 | - | €35,560 | +€35,560 | |
| Amounts receivable within one year | 40/41 | €29,687 | €27,429 | -€2,258 | -7.6% |
| Trade receivables | 40 | €25,617 | €27,425 | +€1,808 | +7.1% |
| Other amounts receivable | 41 | €4,070 | €4 | -€4,066 | -99.9% |
| Cash at bank and in hand | 54/58 | €473,497 | €502,612 | +€29,115 | +6.1% |
| Deferred charges and accrued income | 490/1 | - | €14,303 | +€14,303 | |
| Total equity and liabilities | 10/49 | €864,657 | €936,703 | +€72,046 | +8.3% |
| Equity | 10/15 | €823,070 | €886,678 | +€63,608 | +7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €804,470 | €868,078 | +€63,608 | +7.9% |
| Distributable reserves | 133 | €804,470 | €868,078 | +€63,608 | +7.9% |
| Amounts payable | 17/49 | €41,587 | €50,025 | +€8,438 | +20.3% |
| Amounts payable within one year | 42/48 | €41,587 | €50,025 | +€8,438 | +20.3% |
| Trade debts | 44 | €5,379 | €25,133 | +€19,754 | +367% |
| Suppliers | 440/4 | €5,379 | €25,133 | +€19,754 | +367% |
| Taxes, remuneration and social security | 45 | €36,208 | €22,801 | -€13,407 | -37.0% |
| Taxes | 450/3 | €32,074 | €22,801 | -€9,274 | -28.9% |
| Remuneration and social security | 454/9 | €4,133 | €0 | -€4,133 | -100% |
| Other amounts payable | 47/48 | €0 | €2,091 | +€2,091 | |
| Non-recurring operating income | 76A | €17,521 | €0 | -€17,521 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,435 | €5,679 | -€2,756 | -32.7% |
| Other operating charges | 640/8 | €3,529 | €5,714 | +€2,185 | +61.9% |
| Gross operating margin | 9900 | €170,134 | €99,169 | -€70,964 | -41.7% |
| Operating profit (loss) | 9901 | €158,169 | €87,776 | -€70,393 | -44.5% |
| Financial income | 75/76B | €2,394 | €3,707 | +€1,313 | +54.8% |
| Recurring financial income | 75 | €2,394 | €3,707 | +€1,313 | +54.8% |
| Financial charges | 65/66B | €4,099 | €3,477 | -€623 | -15.2% |
| Recurring financial charges | 65 | €4,099 | €3,477 | -€623 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €156,464 | €88,007 | -€68,458 | -43.8% |
| Income taxes | 67/77 | €44,564 | €24,399 | -€20,165 | -45.2% |
| Profit (loss) for the period | 9904 | €111,900 | €63,608 | -€48,293 | -43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €111,900 | €63,608 | -€48,293 | -43.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.