HAYDAR-23: 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.
HAYDAR-23
Largest movements
- Cash -€22,707
down €22,707 (-68.0%), from €33,414 to €10,707
mainly Net result for the year (-€25,109) and Investment in fixed assets (net) (-€7,587)
- Receivables within one year +€4,432
up €4,432 (+2,910%), from €152 to €4,584
of which Other amounts receivable: +€3,902
- Profit (loss) carried forward -€25,109
down €25,109, from €6,613 to -€18,495
- Trade debts +€10,790
up €10,790 (+96.4%), from €11,197 to €21,987
- Other debts -€3,582
down €3,582 (-90.8%), from €3,946 to €364
- Gross operating margin -€50,807
down €50,807 (-31.2%), from €163,038 to €112,231
- Staff costs +€14,125
up €14,125 (+13.1%), from €107,927 to €122,052
- Other operating charges +€3,767
up €3,767 (+972%), from €387 to €4,154
- Financial charges +€2,861
up €2,861 (+1,600%), from €179 to €3,039
- Taxes -€2,278
down €2,278 (-83.9%), from €2,717 to €439
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 | €50,068 | €31,890 | -€18,177 | -36.3% |
| Fixed assets | 21/28 | €11,909 | €11,840 | -€69 | -0.6% |
| Tangible fixed assets | 22/27 | €11,909 | €11,840 | -€69 | -0.6% |
| Plant, machinery and equipment | 23 | €807 | €1,778 | +€971 | +120% |
| Furniture and vehicles | 24 | €9,295 | €8,942 | -€353 | -3.8% |
| Other tangible fixed assets | 26 | €1,807 | €1,120 | -€686 | -38.0% |
| Current assets | 29/58 | €38,159 | €20,051 | -€18,109 | -47.5% |
| Stocks and contracts in progress | 3 | €4,593 | €4,759 | +€166 | +3.6% |
| Stocks | 30/36 | €4,593 | €4,759 | +€166 | +3.6% |
| Amounts receivable within one year | 40/41 | €152 | €4,584 | +€4,432 | +2,910% |
| Trade receivables | 40 | €152 | €683 | +€530 | +348% |
| Other amounts receivable | 41 | - | €3,902 | +€3,902 | |
| Cash at bank and in hand | 54/58 | €33,414 | €10,707 | -€22,707 | -68.0% |
| Total equity and liabilities | 10/49 | €50,068 | €31,890 | -€18,177 | -36.3% |
| Equity | 10/15 | €16,613 | -€8,495 | -€25,109 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,613 | -€18,495 | -€25,109 | |
| Amounts payable | 17/49 | €33,455 | €40,386 | +€6,931 | +20.7% |
| Amounts payable within one year | 42/48 | €33,455 | €40,386 | +€6,931 | +20.7% |
| Financial debts | 43 | - | €28 | +€28 | |
| Credit institutions | 430/8 | - | €28 | +€28 | |
| Trade debts | 44 | €11,197 | €21,987 | +€10,790 | +96.4% |
| Suppliers | 440/4 | €11,197 | €21,987 | +€10,790 | +96.4% |
| Taxes, remuneration and social security | 45 | €18,311 | €18,007 | -€304 | -1.7% |
| Taxes | 450/3 | €5,066 | €3,294 | -€1,772 | -35.0% |
| Remuneration and social security | 454/9 | €13,245 | €14,713 | +€1,468 | +11.1% |
| Other amounts payable | 47/48 | €3,946 | €364 | -€3,582 | -90.8% |
| Remuneration, social security and pensions | 62 | €107,927 | €122,052 | +€14,125 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,115 | €7,656 | +€540 | +7.6% |
| Other operating charges | 640/8 | €387 | €4,154 | +€3,767 | +972% |
| Gross operating margin | 9900 | €163,038 | €112,231 | -€50,807 | -31.2% |
| Operating profit (loss) | 9901 | €47,609 | -€21,631 | -€69,239 | |
| Financial charges | 65/66B | €179 | €3,039 | +€2,861 | +1,600% |
| Recurring financial charges | 65 | €179 | €3,039 | +€2,861 | +1,600% |
| Profit (loss) for the period before taxes | 9903 | €47,430 | -€24,670 | -€72,100 | |
| Income taxes | 67/77 | €2,717 | €439 | -€2,278 | -83.9% |
| Profit (loss) for the period | 9904 | €44,713 | -€25,109 | -€69,822 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,713 | -€25,109 | -€69,822 |
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 25 October 2026 via checked.be.