HAXHE: 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.
HAXHE
Largest movements
- Tangible fixed assets -€120,570
down €120,570 (-33.4%), from €361,333 to €240,762
- Cash +€50,811
up €50,811 (+32.8%), from €154,818 to €205,629
mainly Depreciation (+€120,405) and Net result for the year (+€86,504)
- Receivables within one year +€32,009
up €32,009 (+5.8%), from €548,691 to €580,701
of which Other amounts receivable: +€82,070
- Profit (loss) carried forward +€86,504
up €86,504 (+17.9%), from €482,724 to €569,229
- Debts after one year -€71,304
down €71,304 (-65.8%), from €108,290 to €36,986
- Trade debts -€52,813
down €52,813 (-54.6%), from €96,749 to €43,936
- Gross operating margin +€84,794
up €84,794 (+17.0%), from €497,802 to €582,596
- Write-downs -€63,996
down €63,996, from €31,998 to -€31,998
- Other operating charges +€38,848
up €38,848 (+432%), from €8,989 to €47,837
- Taxes +€21,151
up €21,151 (+279%), from €7,581 to €28,732
- Staff costs +€18,910
up €18,910 (+6.2%), from €304,055 to €322,965
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 | €1,086,125 | €1,047,998 | -€38,128 | -3.5% |
| Fixed assets | 21/28 | €361,696 | €241,125 | -€120,570 | -33.3% |
| Tangible fixed assets | 22/27 | €361,333 | €240,762 | -€120,570 | -33.4% |
| Plant, machinery and equipment | 23 | €134,876 | €98,054 | -€36,822 | -27.3% |
| Furniture and vehicles | 24 | €129,606 | €95,690 | -€33,916 | -26.2% |
| Leasing and similar rights | 25 | €96,850 | €47,018 | -€49,833 | -51.5% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €724,430 | €806,872 | +€82,443 | +11.4% |
| Amounts receivable within one year | 40/41 | €548,691 | €580,701 | +€32,009 | +5.8% |
| Trade receivables | 40 | €375,071 | €325,010 | -€50,061 | -13.3% |
| Other amounts receivable | 41 | €173,621 | €255,691 | +€82,070 | +47.3% |
| Cash at bank and in hand | 54/58 | €154,818 | €205,629 | +€50,811 | +32.8% |
| Deferred charges and accrued income | 490/1 | €20,920 | €20,543 | -€377 | -1.8% |
| Total equity and liabilities | 10/49 | €1,086,125 | €1,047,998 | -€38,128 | -3.5% |
| Equity | 10/15 | €573,207 | €659,711 | +€86,504 | +15.1% |
| Contributions | 10/11 | €6,283 | €6,283 | = | 0.0% |
| Reserves | 13 | €84,200 | €84,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,200 | €84,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €482,724 | €569,229 | +€86,504 | +17.9% |
| Amounts payable | 17/49 | €512,918 | €388,286 | -€124,632 | -24.3% |
| Amounts payable after more than one year | 17 | €108,290 | €36,986 | -€71,304 | -65.8% |
| Financial debts | 170/4 | €108,290 | €36,986 | -€71,304 | -65.8% |
| Amounts payable within one year | 42/48 | €404,628 | €351,255 | -€53,373 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €71,798 | €70,815 | -€983 | -1.4% |
| Trade debts | 44 | €96,749 | €43,936 | -€52,813 | -54.6% |
| Suppliers | 440/4 | €96,749 | €43,936 | -€52,813 | -54.6% |
| Taxes, remuneration and social security | 45 | €27,185 | €36,580 | +€9,396 | +34.6% |
| Taxes | 450/3 | €10,648 | €7,711 | -€2,936 | -27.6% |
| Remuneration and social security | 454/9 | €16,537 | €28,869 | +€12,332 | +74.6% |
| Other amounts payable | 47/48 | €208,897 | €199,924 | -€8,973 | -4.3% |
| Accrued charges and deferred income | 492/3 | - | €45 | +€45 | |
| Remuneration, social security and pensions | 62 | €304,055 | €322,965 | +€18,910 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,908 | €120,405 | -€503 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €31,998 | -€31,998 | -€63,996 | |
| Other operating charges | 640/8 | €8,989 | €47,837 | +€38,848 | +432% |
| Gross operating margin | 9900 | €497,802 | €582,596 | +€84,794 | +17.0% |
| Operating profit (loss) | 9901 | €31,853 | €123,388 | +€91,535 | +287% |
| Financial income | 75/76B | €4,770 | €14 | -€4,756 | -99.7% |
| Recurring financial income | 75 | €4,770 | €14 | -€4,756 | -99.7% |
| Financial charges | 65/66B | €12,046 | €8,165 | -€3,881 | -32.2% |
| Recurring financial charges | 65 | €12,046 | €8,165 | -€3,881 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | €24,577 | €115,236 | +€90,659 | +369% |
| Income taxes | 67/77 | €7,581 | €28,732 | +€21,151 | +279% |
| Profit (loss) for the period | 9904 | €16,996 | €86,504 | +€69,509 | +409% |
| Profit (loss) for the period to be appropriated | 9905 | €16,996 | €86,504 | +€69,509 | +409% |
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 13 October 2026 via checked.be.