HAYEN GEERT: 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.
HAYEN GEERT
Largest movements
- Current investments +€555,776
up €555,776 (+159%), from €350,208 to €905,985
- Receivables after one year -€547,350
down €547,350 (-66.8%), from €819,478 to €272,128
- Receivables within one year +€212,010
up €212,010 (+48.7%), from €435,113 to €647,123
of which Other amounts receivable: +€156,105
- Tangible fixed assets -€74,643
down €74,643 (-6.8%), from €1.1m to €1.0m
of which Land and buildings: -€70,814
- Cash -€32,237
down €32,237 (-23.8%), from €135,462 to €103,225
mainly Current investments (-€555,776) and Receivables within one year (-€212,010)
- Reserves +€209,153
up €209,153 (+28.0%), from €747,295 to €956,447
of which Distributable reserves: +€209,153
- Debts after one year -€89,625
down €89,625 (-13.3%), from €671,751 to €582,125
of which Financial debts: -€89,625
- Tax, wage and social debts +€40,991
up €40,991 (+592%), from €6,925 to €47,916
- Trade debts -€35,277
down €35,277 (-42.9%), from €82,226 to €46,949
- Gross operating margin +€76,625
up €76,625 (+22.7%), from €337,859 to €414,484
- Taxes +€29,868
up €29,868 (+41.0%), from €72,843 to €102,711
- Write-downs +€4,395
new in 2025: €4,395
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 | €3,108,710 | €3,222,346 | +€113,636 | +3.7% |
| Fixed assets | 21/28 | €1,360,570 | €1,285,927 | -€74,643 | -5.5% |
| Tangible fixed assets | 22/27 | €1,105,181 | €1,030,538 | -€74,643 | -6.8% |
| Land and buildings | 22 | €1,099,505 | €1,028,691 | -€70,814 | -6.4% |
| Plant, machinery and equipment | 23 | €194 | €0 | -€194 | -100% |
| Furniture and vehicles | 24 | €5,483 | €1,847 | -€3,635 | -66.3% |
| Financial fixed assets | 28 | €255,389 | €255,389 | = | 0.0% |
| Current assets | 29/58 | €1,748,140 | €1,936,419 | +€188,279 | +10.8% |
| Amounts receivable after more than one year | 29 | €819,478 | €272,128 | -€547,350 | -66.8% |
| Other amounts receivable | 291 | €819,478 | €272,128 | -€547,350 | -66.8% |
| Amounts receivable within one year | 40/41 | €435,113 | €647,123 | +€212,010 | +48.7% |
| Trade receivables | 40 | €0 | €55,905 | +€55,905 | |
| Other amounts receivable | 41 | €435,113 | €591,218 | +€156,105 | +35.9% |
| Current investments | 50/53 | €350,208 | €905,985 | +€555,776 | +159% |
| Cash at bank and in hand | 54/58 | €135,462 | €103,225 | -€32,237 | -23.8% |
| Deferred charges and accrued income | 490/1 | €7,878 | €7,958 | +€79 | +1.0% |
| Total equity and liabilities | 10/49 | €3,108,710 | €3,222,346 | +€113,636 | +3.7% |
| Equity | 10/15 | €1,869,428 | €2,078,581 | +€209,153 | +11.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €747,295 | €956,447 | +€209,153 | +28.0% |
| Tax-exempt reserves | 132 | €236,396 | €236,396 | = | 0.0% |
| Distributable reserves | 133 | €510,898 | €720,051 | +€209,153 | +40.9% |
| Profit (loss) carried forward | 14 | €1,109,733 | €1,109,733 | = | 0.0% |
| Provisions and deferred taxes | 16 | €78,799 | €78,799 | = | 0.0% |
| Deferred taxes | 168 | €78,799 | €78,799 | = | 0.0% |
| Amounts payable | 17/49 | €1,160,484 | €1,064,967 | -€95,517 | -8.2% |
| Amounts payable after more than one year | 17 | €671,751 | €582,125 | -€89,625 | -13.3% |
| Financial debts | 170/4 | €671,751 | €582,125 | -€89,625 | -13.3% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €466,992 | €462,799 | -€4,193 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €89,146 | €89,625 | +€479 | +0.5% |
| Financial debts | 43 | €27,654 | €23,557 | -€4,098 | -14.8% |
| Credit institutions | 430/8 | €27,654 | €23,557 | -€4,098 | -14.8% |
| Trade debts | 44 | €82,226 | €46,949 | -€35,277 | -42.9% |
| Suppliers | 440/4 | €82,226 | €46,949 | -€35,277 | -42.9% |
| Taxes, remuneration and social security | 45 | €6,925 | €47,916 | +€40,991 | +592% |
| Taxes | 450/3 | €6,925 | €47,916 | +€40,991 | +592% |
| Other amounts payable | 47/48 | €261,041 | €254,753 | -€6,288 | -2.4% |
| Accrued charges and deferred income | 492/3 | €21,741 | €20,042 | -€1,699 | -7.8% |
| Non-recurring operating income | 76A | €26,356 | €0 | -€26,356 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,578 | €80,575 | -€2,004 | -2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,395 | +€4,395 | |
| Other operating charges | 640/8 | €16,009 | €13,230 | -€2,780 | -17.4% |
| Gross operating margin | 9900 | €337,859 | €414,484 | +€76,625 | +22.7% |
| Operating profit (loss) | 9901 | €239,271 | €316,285 | +€77,013 | +32.2% |
| Financial income | 75/76B | €23,870 | €25,501 | +€1,631 | +6.8% |
| Recurring financial income | 75 | €23,870 | €25,501 | +€1,631 | +6.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €33,400 | €29,922 | -€3,478 | -10.4% |
| Recurring financial charges | 65 | €33,400 | €29,922 | -€3,478 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €229,742 | €311,864 | +€82,122 | +35.7% |
| Income taxes | 67/77 | €72,843 | €102,711 | +€29,868 | +41.0% |
| Profit (loss) for the period | 9904 | €156,899 | €209,153 | +€52,254 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €156,899 | €209,153 | +€52,254 | +33.3% |
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 1 November 2026 via checked.be.