HAYASTAN: what changed
Two fiscal 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.
HAYASTAN
Largest movements
- Stocks and contracts +€106,279
up €106,279 (+27.7%), from €383,564 to €489,843
- Tangible fixed assets -€60,465
down €60,465 (-13.8%), from €439,711 to €379,245
of which Other tangible fixed assets: -€39,025
- Cash +€52,357
up €52,357 (+65.5%), from €79,925 to €132,282
mainly Trade debts (+€151,768) and Depreciation (+€84,939)
- Receivables within one year -€34,236
down €34,236 (-10.9%), from €313,104 to €278,867
of which Trade receivables: -€54,754
- Trade debts +€151,768
up €151,768 (+36.8%), from €412,002 to €563,770
- Debts after one year -€82,787
down €82,787 (-26.0%), from €318,572 to €235,785
- Tax, wage and social debts +€23,589
up €23,589 (+38.0%), from €62,156 to €85,745
of which Remuneration and social security: +€20,001
- Other debts -€22,478
down €22,478 (-39.3%), from €57,240 to €34,762
- Advances received -€16,017
no longer reported in 2024 (was €16,017)
- Turnover +€2.8m
new in 2024: €2.8m
- Purchases and services +€2.6m
new in 2024: €2.6m
- Gross operating margin -€47,945
down €47,945 (-18.2%), from €263,142 to €215,197
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,224,899 | €1,282,530 | +€57,631 | +4.7% |
| Fixed assets | 21/28 | €442,259 | €381,354 | -€60,905 | -13.8% |
| Intangible fixed assets | 21 | €880 | €440 | -€440 | -50.0% |
| Tangible fixed assets | 22/27 | €439,711 | €379,245 | -€60,465 | -13.8% |
| Plant, machinery and equipment | 23 | €6,905 | €11,138 | +€4,233 | +61.3% |
| Furniture and vehicles | 24 | €143,424 | €117,750 | -€25,674 | -17.9% |
| Other tangible fixed assets | 26 | €289,382 | €250,357 | -€39,025 | -13.5% |
| Financial fixed assets | 28 | €1,669 | €1,669 | = | 0.0% |
| Current assets | 29/58 | €782,639 | €901,176 | +€118,537 | +15.1% |
| Stocks and contracts in progress | 3 | €383,564 | €489,843 | +€106,279 | +27.7% |
| Stocks | 30/36 | €383,564 | €489,843 | +€106,279 | +27.7% |
| Amounts receivable within one year | 40/41 | €313,104 | €278,867 | -€34,236 | -10.9% |
| Trade receivables | 40 | €225,713 | €170,958 | -€54,754 | -24.3% |
| Other amounts receivable | 41 | €87,391 | €107,909 | +€20,518 | +23.5% |
| Cash at bank and in hand | 54/58 | €79,925 | €132,282 | +€52,357 | +65.5% |
| Deferred charges and accrued income | 490/1 | €6,047 | €183 | -€5,863 | -97.0% |
| Total equity and liabilities | 10/49 | €1,224,899 | €1,282,530 | +€57,631 | +4.7% |
| Equity | 10/15 | €271,223 | €279,681 | +€8,458 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €250,763 | €259,221 | +€8,458 | +3.4% |
| Amounts payable | 17/49 | €953,676 | €1,002,849 | +€49,174 | +5.2% |
| Amounts payable after more than one year | 17 | €318,572 | €235,785 | -€82,787 | -26.0% |
| Financial debts | 170/4 | €318,572 | €235,785 | -€82,787 | -26.0% |
| Amounts payable within one year | 42/48 | €635,103 | €767,064 | +€131,961 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €87,688 | €82,787 | -€4,901 | -5.6% |
| Trade debts | 44 | €412,002 | €563,770 | +€151,768 | +36.8% |
| Suppliers | 440/4 | €412,002 | €563,770 | +€151,768 | +36.8% |
| Advances received on contracts in progress | 46 | €16,017 | - | -€16,017 | |
| Taxes, remuneration and social security | 45 | €62,156 | €85,745 | +€23,589 | +38.0% |
| Taxes | 450/3 | €1,045 | €4,633 | +€3,588 | +343.3% |
| Remuneration and social security | 454/9 | €61,111 | €81,112 | +€20,001 | +32.7% |
| Other amounts payable | 47/48 | €57,240 | €34,762 | -€22,478 | -39.3% |
| Turnover | 70 | - | €2,810,832 | +€2.8m | |
| Non-recurring operating income | 76A | €26,431 | - | -€26,431 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €2,595,635 | +€2.6m | |
| Remuneration, social security and pensions | 62 | €71,552 | €70,794 | -€758 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,389 | €84,939 | +€8,549 | +11.2% |
| Other operating charges | 640/8 | €25,767 | €19,167 | -€6,599 | -25.6% |
| Gross operating margin | 9900 | €263,142 | €215,197 | -€47,945 | -18.2% |
| Operating profit (loss) | 9901 | €89,434 | €40,297 | -€49,137 | -54.9% |
| Financial income | 75/76B | €67 | €2 | -€65 | -96.7% |
| Recurring financial income | 75 | €67 | €2 | -€65 | -96.7% |
| Financial charges | 65/66B | €18,506 | €15,862 | -€2,644 | -14.3% |
| Recurring financial charges | 65 | €18,506 | €15,862 | -€2,644 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €70,995 | €24,437 | -€46,559 | -65.6% |
| Income taxes | 67/77 | €19,269 | €15,979 | -€3,289 | -17.1% |
| Profit (loss) for the period | 9904 | €51,727 | €8,458 | -€43,269 | -83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €51,727 | €8,458 | -€43,269 | -83.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.