Haystack Ventures: 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.
Haystack Ventures
Largest movements
- Intangible fixed assets +€113,184
new in 2025: €113,184
- Receivables within one year -€111,048
down €111,048 (-57.9%), from €191,888 to €80,839
of which Trade receivables: -€109,655
- Cash +€2,107
up €2,107 (+25.2%), from €8,365 to €10,473
mainly Receivables within one year (+€111,048) and Depreciation (+€56,419)
- Profit (loss) carried forward -€34,710
down €34,710 (-62.2%), from -€55,802 to -€90,512
- Trade debts +€27,998
up €27,998 (+12.4%), from €225,467 to €253,465
- Other debts +€15,000
new in 2025: €15,000
- Accrued charges and deferred income -€4,045
down €4,045 (-72.4%), from €5,588 to €1,543
- Gross operating margin +€77,342
up €77,342, from -€55,307 to €22,035
- Depreciation +€56,419
new in 2025: €56,419
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 | €200,253 | €204,496 | +€4,243 | +2.1% |
| Fixed assets | 21/28 | - | €113,184 | +€113,184 | |
| Intangible fixed assets | 21 | - | €113,184 | +€113,184 | |
| Current assets | 29/58 | €200,253 | €91,312 | -€108,941 | -54.4% |
| Amounts receivable within one year | 40/41 | €191,888 | €80,839 | -€111,048 | -57.9% |
| Trade receivables | 40 | €190,149 | €80,494 | -€109,655 | -57.7% |
| Other amounts receivable | 41 | €1,739 | €345 | -€1,394 | -80.1% |
| Cash at bank and in hand | 54/58 | €8,365 | €10,473 | +€2,107 | +25.2% |
| Total equity and liabilities | 10/49 | €200,253 | €204,496 | +€4,243 | +2.1% |
| Equity | 10/15 | -€30,802 | -€65,512 | -€34,710 | -112.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,802 | -€90,512 | -€34,710 | -62.2% |
| Amounts payable | 17/49 | €231,055 | €270,008 | +€38,953 | +16.9% |
| Amounts payable within one year | 42/48 | €225,467 | €268,465 | +€42,998 | +19.1% |
| Trade debts | 44 | €225,467 | €253,465 | +€27,998 | +12.4% |
| Suppliers | 440/4 | €225,467 | €253,465 | +€27,998 | +12.4% |
| Other amounts payable | 47/48 | - | €15,000 | +€15,000 | |
| Accrued charges and deferred income | 492/3 | €5,588 | €1,543 | -€4,045 | -72.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €56,419 | +€56,419 | |
| Other operating charges | 640/8 | €480 | - | -€480 | |
| Non-recurring operating charges | 66A | - | €88 | +€88 | |
| Gross operating margin | 9900 | -€55,307 | €22,035 | +€77,342 | |
| Operating profit (loss) | 9901 | -€55,788 | -€34,472 | +€21,316 | +38.2% |
| Financial charges | 65/66B | €15 | €238 | +€223 | +1521.6% |
| Recurring financial charges | 65 | €15 | €238 | +€223 | +1521.6% |
| Profit (loss) for the period before taxes | 9903 | -€55,802 | -€34,710 | +€21,093 | +37.8% |
| Profit (loss) for the period | 9904 | -€55,802 | -€34,710 | +€21,093 | +37.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€55,802 | -€34,710 | +€21,093 | +37.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.