Hayashi: 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.
Hayashi
Largest movements
- Cash -€85,601
down €85,601 (-48.1%), from €177,950 to €92,349
mainly Investment in fixed assets (net) (-€114,081) and Debts after one year (-€22,059)
- Tangible fixed assets +€75,339
up €75,339 (+53.0%), from €142,050 to €217,389
of which Plant, machinery and equipment: +€62,776
- Current investments +€12,000
up €12,000 (+57.1%), from €21,000 to €33,000
- Reserves +€26,648
up €26,648 (+98.7%), from €27,002 to €53,650
of which Distributable reserves: +€26,648
- Debts after one year -€22,059
down €22,059 (-50.0%), from €44,151 to €22,092
- Tax, wage and social debts +€5,039
up €5,039 (+48.3%), from €10,441 to €15,480
of which Taxes: +€4,063
- Gross operating margin +€28,301
up €28,301 (+20.0%), from €141,237 to €169,538
- Staff costs +€18,622
up €18,622 (+29.8%), from €62,535 to €81,157
- Depreciation +€6,281
up €6,281 (+19.3%), from €32,461 to €38,742
- Taxes +€2,155
up €2,155 (+31.3%), from €6,878 to €9,033
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.
Cash bridge derived
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 | €355,611 | €362,607 | +€6,996 | +2.0% |
| Fixed assets | 21/28 | €142,050 | €217,389 | +€75,339 | +53.0% |
| Tangible fixed assets | 22/27 | €142,050 | €217,389 | +€75,339 | +53.0% |
| Land and buildings | 22 | €32,122 | €69,945 | +€37,823 | +117.7% |
| Plant, machinery and equipment | 23 | €33,669 | €96,445 | +€62,776 | +186.5% |
| Furniture and vehicles | 24 | €4,611 | €3,234 | -€1,377 | -29.9% |
| Leasing and similar rights | 25 | €71,648 | €47,765 | -€23,883 | -33.3% |
| Current assets | 29/58 | €213,561 | €145,218 | -€68,343 | -32.0% |
| Stocks and contracts in progress | 3 | €2,194 | €4,416 | +€2,222 | +101.3% |
| Stocks | 30/36 | €2,194 | €4,416 | +€2,222 | +101.3% |
| Amounts receivable within one year | 40/41 | €12,417 | €15,453 | +€3,036 | +24.5% |
| Other amounts receivable | 41 | €12,417 | €15,453 | +€3,036 | +24.5% |
| Current investments | 50/53 | €21,000 | €33,000 | +€12,000 | +57.1% |
| Cash at bank and in hand | 54/58 | €177,950 | €92,349 | -€85,601 | -48.1% |
| Total equity and liabilities | 10/49 | €355,611 | €362,607 | +€6,996 | +2.0% |
| Equity | 10/15 | €262,263 | €288,911 | +€26,648 | +10.2% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €27,002 | €53,650 | +€26,648 | +98.7% |
| Non-distributable reserves | 130/1 | €5,500 | €5,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,500 | €5,500 | = | 0.0% |
| Distributable reserves | 133 | €21,502 | €48,150 | +€26,648 | +123.9% |
| Profit (loss) carried forward | 14 | €180,261 | €180,261 | = | 0.0% |
| Amounts payable | 17/49 | €93,348 | €73,696 | -€19,652 | -21.1% |
| Amounts payable after more than one year | 17 | €44,151 | €22,092 | -€22,059 | -50.0% |
| Financial debts | 170/4 | €44,151 | €22,092 | -€22,059 | -50.0% |
| Amounts payable within one year | 42/48 | €49,197 | €51,604 | +€2,407 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €21,064 | €22,060 | +€996 | +4.7% |
| Trade debts | 44 | €8,293 | €4,861 | -€3,432 | -41.4% |
| Suppliers | 440/4 | €8,293 | €4,861 | -€3,432 | -41.4% |
| Taxes, remuneration and social security | 45 | €10,441 | €15,480 | +€5,039 | +48.3% |
| Taxes | 450/3 | - | €4,063 | +€4,063 | |
| Remuneration and social security | 454/9 | €10,441 | €11,417 | +€976 | +9.3% |
| Other amounts payable | 47/48 | €9,399 | €9,203 | -€196 | -2.1% |
| Remuneration, social security and pensions | 62 | €62,535 | €81,157 | +€18,622 | +29.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,461 | €38,742 | +€6,281 | +19.3% |
| Other operating charges | 640/8 | €4,438 | €5,040 | +€602 | +13.6% |
| Gross operating margin | 9900 | €141,237 | €169,538 | +€28,301 | +20.0% |
| Operating profit (loss) | 9901 | €41,803 | €44,599 | +€2,796 | +6.7% |
| Financial income | 75/76B | €758 | €1,626 | +€868 | +114.5% |
| Recurring financial income | 75 | €758 | €1,626 | +€868 | +114.5% |
| Financial charges | 65/66B | €10,690 | €10,544 | -€146 | -1.4% |
| Recurring financial charges | 65 | €10,690 | €10,544 | -€146 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €31,871 | €35,681 | +€3,810 | +12.0% |
| Income taxes | 67/77 | €6,878 | €9,033 | +€2,155 | +31.3% |
| Profit (loss) for the period | 9904 | €24,993 | €26,648 | +€1,655 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €24,993 | €26,648 | +€1,655 | +6.6% |
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 10 October 2026 via checked.be.