HAY TRADE: 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.
HAY TRADE
Largest movements
- Tangible fixed assets -€3,996
down €3,996 (-56.9%), from €7,028 to €3,032
- Other debts -€5,229
down €5,229 (-5.6%), from €92,810 to €87,581
- Profit (loss) carried forward +€4,007
up €4,007 (+9.3%), from -€43,099 to -€39,092
- Trade debts +€3,074
up €3,074 (+64.1%), from €4,793 to €7,867
- Tax, wage and social debts -€3,005
down €3,005 (-33.7%), from €8,914 to €5,909
of which Remuneration and social security: -€2,636
- Current portion of long-term debt -€2,339
no longer reported in 2025 (was €2,339)
- Gross operating margin -€2,373
down €2,373 (-18.8%), from €12,626 to €10,253
- Financial charges +€1,732
up €1,732 (+1,506%), from €115 to €1,847
- Other operating charges -€1,385
down €1,385 (-77.5%), from €1,788 to €403
- Staff costs -€157
no longer reported in 2025 (was €157)
- Taxes -€141
no longer reported in 2025 (was €141)
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 | €126,208 | €122,716 | -€3,492 | -2.8% |
| Fixed assets | 21/28 | €9,008 | €5,012 | -€3,996 | -44.4% |
| Tangible fixed assets | 22/27 | €7,028 | €3,032 | -€3,996 | -56.9% |
| Furniture and vehicles | 24 | €7,028 | €3,032 | -€3,996 | -56.9% |
| Financial fixed assets | 28 | €1,980 | €1,980 | = | 0.0% |
| Current assets | 29/58 | €117,200 | €117,704 | +€504 | +0.4% |
| Stocks and contracts in progress | 3 | €114,733 | €114,466 | -€267 | -0.2% |
| Stocks | 30/36 | €114,733 | €114,466 | -€267 | -0.2% |
| Cash at bank and in hand | 54/58 | €2,404 | €3,238 | +€834 | +34.7% |
| Deferred charges and accrued income | 490/1 | €63 | - | -€63 | |
| Total equity and liabilities | 10/49 | €126,208 | €122,716 | -€3,492 | -2.8% |
| Equity | 10/15 | -€22,648 | -€18,641 | +€4,007 | +17.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,099 | -€39,092 | +€4,007 | +9.3% |
| Amounts payable | 17/49 | €148,856 | €141,357 | -€7,499 | -5.0% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 170/4 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €108,856 | €101,357 | -€7,499 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €2,339 | - | -€2,339 | |
| Trade debts | 44 | €4,793 | €7,867 | +€3,074 | +64.1% |
| Suppliers | 440/4 | €4,793 | €7,867 | +€3,074 | +64.1% |
| Taxes, remuneration and social security | 45 | €8,914 | €5,909 | -€3,005 | -33.7% |
| Taxes | 450/3 | €6,278 | €5,909 | -€369 | -5.9% |
| Remuneration and social security | 454/9 | €2,636 | - | -€2,636 | |
| Other amounts payable | 47/48 | €92,810 | €87,581 | -€5,229 | -5.6% |
| Remuneration, social security and pensions | 62 | €157 | - | -€157 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,996 | €3,996 | = | 0.0% |
| Other operating charges | 640/8 | €1,788 | €403 | -€1,385 | -77.5% |
| Non-recurring operating charges | 66A | €59 | - | -€59 | |
| Gross operating margin | 9900 | €12,626 | €10,253 | -€2,373 | -18.8% |
| Operating profit (loss) | 9901 | €6,626 | €5,854 | -€772 | -11.7% |
| Financial income | 75/76B | €56 | - | -€56 | |
| Recurring financial income | 75 | €56 | - | -€56 | |
| Financial charges | 65/66B | €115 | €1,847 | +€1,732 | +1,506% |
| Recurring financial charges | 65 | €115 | €1,847 | +€1,732 | +1,506% |
| Profit (loss) for the period before taxes | 9903 | €6,567 | €4,007 | -€2,560 | -39.0% |
| Income taxes | 67/77 | €141 | - | -€141 | |
| Profit (loss) for the period | 9904 | €6,426 | €4,007 | -€2,419 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,426 | €4,007 | -€2,419 | -37.6% |
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 29 October 2026 via checked.be.