Haymarket: 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.
Haymarket
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-72.9%), from €1.5m to €406,683
of which Other amounts receivable: -€1.0m
- Stocks and contracts +€439,832
up €439,832 (+13.0%), from €3.4m to €3.8m
- Financial fixed assets -€343,349
down €343,349 (-99.3%), from €345,639 to €2,290
- Tangible fixed assets +€292,922
up €292,922 (+8.9%), from €3.3m to €3.6m
of which Land and buildings: +€2.3m
- Cash -€173,337
down €173,337 (-49.6%), from €349,607 to €176,270
mainly Net result for the year (-€1.8m) and Short-term financial debts (-€454,548)
- Profit (loss) carried forward -€1.8m
down €1.8m (-385%), from -€464,136 to -€2.3m
- Debts after one year +€1.2m
up €1.2m (+30.6%), from €3.8m to €5.0m
- Short-term financial debts -€454,548
down €454,548 (-11.0%), from €4.1m to €3.7m
- Current portion of long-term debt +€95,359
new in 2025: €95,359
- Financial charges +€327,378
up €327,378 (+65.6%), from €499,334 to €826,713
of which Non-recurring financial charges: +€299,600
- Gross operating margin -€147,949
down €147,949 (-51.5%), from €287,277 to €139,328
- Financial income -€45,312
down €45,312 (-71.3%), from €63,541 to €18,229
- Other operating charges -€9,213
down €9,213 (-86.6%), from €10,637 to €1,423
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 | €8,984,410 | €8,036,834 | -€947,576 | -10.5% |
| Fixed assets | 21/28 | €3,631,293 | €3,580,865 | -€50,427 | -1.4% |
| Tangible fixed assets | 22/27 | €3,285,654 | €3,578,575 | +€292,922 | +8.9% |
| Land and buildings | 22 | €1,247,743 | €3,578,575 | +€2.3m | +187% |
| Assets under construction and advance payments | 27 | €2,037,911 | €0 | -€2.0m | -100% |
| Financial fixed assets | 28 | €345,639 | €2,290 | -€343,349 | -99.3% |
| Current assets | 29/58 | €5,353,117 | €4,455,969 | -€897,148 | -16.8% |
| Stocks and contracts in progress | 3 | €3,395,790 | €3,835,622 | +€439,832 | +13.0% |
| Stocks | 30/36 | €3,395,790 | €3,835,622 | +€439,832 | +13.0% |
| Amounts receivable within one year | 40/41 | €1,500,747 | €406,683 | -€1.1m | -72.9% |
| Trade receivables | 40 | €481,790 | €406,683 | -€75,107 | -15.6% |
| Other amounts receivable | 41 | €1,018,957 | €0 | -€1.0m | -100% |
| Cash at bank and in hand | 54/58 | €349,607 | €176,270 | -€173,337 | -49.6% |
| Deferred charges and accrued income | 490/1 | €106,973 | €37,394 | -€69,579 | -65.0% |
| Total equity and liabilities | 10/49 | €8,984,410 | €8,036,834 | -€947,576 | -10.5% |
| Equity | 10/15 | €701,852 | -€1,086,015 | -€1.8m | |
| Contributions | 10/11 | €1,034,935 | €1,034,935 | = | 0.0% |
| Capital | 10 | €1,034,935 | €1,034,935 | = | 0.0% |
| Issued capital | 100 | €1,034,935 | €1,034,935 | = | 0.0% |
| Reserves | 13 | €131,052 | €131,052 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,739 | €6,739 | = | 0.0% |
| Legal reserve | 130 | €6,739 | €6,739 | = | 0.0% |
| Distributable reserves | 133 | €124,313 | €124,313 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€464,136 | -€2,252,002 | -€1.8m | -385% |
| Amounts payable | 17/49 | €8,282,558 | €9,122,849 | +€840,291 | +10.1% |
| Amounts payable after more than one year | 17 | €3,793,068 | €4,953,154 | +€1.2m | +30.6% |
| Financial debts | 170/4 | €3,793,068 | €4,953,154 | +€1.2m | +30.6% |
| Amounts payable within one year | 42/48 | €4,346,574 | €4,041,992 | -€304,582 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | - | €95,359 | +€95,359 | |
| Financial debts | 43 | €4,118,824 | €3,664,276 | -€454,548 | -11.0% |
| Credit institutions | 430/8 | €4,118,824 | €3,664,276 | -€454,548 | -11.0% |
| Trade debts | 44 | €124,641 | €155,048 | +€30,407 | +24.4% |
| Suppliers | 440/4 | €124,641 | €155,048 | +€30,407 | +24.4% |
| Taxes, remuneration and social security | 45 | €101,504 | €100,255 | -€1,250 | -1.2% |
| Taxes | 450/3 | €101,504 | €100,255 | -€1,250 | -1.2% |
| Other amounts payable | 47/48 | €1,605 | €27,054 | +€25,449 | +1,586% |
| Accrued charges and deferred income | 492/3 | €142,916 | €127,703 | -€15,214 | -10.6% |
| Non-recurring operating income | 76A | - | €90,000 | +€90,000 | |
| Other operating charges | 640/8 | €10,637 | €1,423 | -€9,213 | -86.6% |
| Non-recurring operating charges | 66A | - | €1,117,287 | +€1.1m | |
| Gross operating margin | 9900 | €287,277 | €139,328 | -€147,949 | -51.5% |
| Operating profit (loss) | 9901 | €276,640 | -€979,383 | -€1.3m | |
| Financial income | 75/76B | €63,541 | €18,229 | -€45,312 | -71.3% |
| Recurring financial income | 75 | €63,541 | €18,229 | -€45,312 | -71.3% |
| Financial charges | 65/66B | €499,334 | €826,713 | +€327,378 | +65.6% |
| Recurring financial charges | 65 | €499,334 | €527,113 | +€27,778 | +5.6% |
| Non-recurring financial charges | 66B | - | €299,600 | +€299,600 | |
| Profit (loss) for the period before taxes | 9903 | -€159,154 | -€1,787,867 | -€1.6m | -1,023% |
| Profit (loss) for the period | 9904 | -€159,154 | -€1,787,867 | -€1.6m | -1,023% |
| Profit (loss) for the period to be appropriated | 9905 | -€159,154 | -€1,787,867 | -€1.6m | -1,023% |
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 20 October 2026 via checked.be.