Hazelzet: 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.
Hazelzet
Largest movements
- Cash +€100,461
up €100,461 (+76.6%), from €131,173 to €231,633
mainly Net result for the year (+€101,679) and Receivables within one year (+€86,778)
- Receivables within one year -€86,778
down €86,778 (-91.9%), from €94,464 to €7,687
of which Other amounts receivable: -€75,693
- Tangible fixed assets -€39,967
down €39,967 (-15.1%), from €265,534 to €225,567
of which Furniture and vehicles: -€25,222
- Reserves +€101,679
up €101,679 (+66.9%), from €151,944 to €253,624
- Other debts -€83,024
down €83,024 (-5.6%), from €1.5m to €1.4m
- Financial income -€22,407
down €22,407 (-22.2%), from €100,757 to €78,350
- Taxes +€9,382
up €9,382 (+71.7%), from €13,091 to €22,472
- Gross operating margin +€3,754
up €3,754 (+4.1%), from €90,610 to €94,364
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 | €1,830,003 | €1,814,294 | -€15,709 | -0.9% |
| Fixed assets | 21/28 | €1,552,427 | €1,512,459 | -€39,967 | -2.6% |
| Tangible fixed assets | 22/27 | €265,534 | €225,567 | -€39,967 | -15.1% |
| Land and buildings | 22 | €167,157 | €152,411 | -€14,746 | -8.8% |
| Furniture and vehicles | 24 | €98,378 | €73,156 | -€25,222 | -25.6% |
| Financial fixed assets | 28 | €1,286,892 | €1,286,892 | = | 0.0% |
| Current assets | 29/58 | €277,576 | €301,835 | +€24,258 | +8.7% |
| Amounts receivable within one year | 40/41 | €94,464 | €7,687 | -€86,778 | -91.9% |
| Trade receivables | 40 | €13,121 | €2,036 | -€11,085 | -84.5% |
| Other amounts receivable | 41 | €81,344 | €5,651 | -€75,693 | -93.1% |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €131,173 | €231,633 | +€100,461 | +76.6% |
| Deferred charges and accrued income | 490/1 | €41,939 | €52,515 | +€10,575 | +25.2% |
| Total equity and liabilities | 10/49 | €1,830,003 | €1,814,294 | -€15,709 | -0.9% |
| Equity | 10/15 | €164,344 | €266,024 | +€101,679 | +61.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €151,944 | €253,624 | +€101,679 | +66.9% |
| Distributable reserves | 133 | €151,944 | €253,624 | +€101,679 | +66.9% |
| Amounts payable | 17/49 | €1,665,659 | €1,548,270 | -€117,388 | -7.0% |
| Amounts payable after more than one year | 17 | €124,243 | €107,346 | -€16,898 | -13.6% |
| Financial debts | 170/4 | €124,243 | €107,346 | -€16,898 | -13.6% |
| Amounts payable within one year | 42/48 | €1,541,352 | €1,440,800 | -€100,552 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €16,626 | €16,898 | +€272 | +1.6% |
| Trade debts | 44 | €36,731 | €23,339 | -€13,391 | -36.5% |
| Suppliers | 440/4 | €36,731 | €23,339 | -€13,391 | -36.5% |
| Taxes, remuneration and social security | 45 | €5,500 | €1,091 | -€4,409 | -80.2% |
| Taxes | 450/3 | €5,500 | €1,091 | -€4,409 | -80.2% |
| Other amounts payable | 47/48 | €1,482,496 | €1,399,472 | -€83,024 | -5.6% |
| Accrued charges and deferred income | 492/3 | €64 | €125 | +€61 | +96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,447 | €45,255 | +€808 | +1.8% |
| Other operating charges | 640/8 | €551 | €790 | +€239 | +43.3% |
| Gross operating margin | 9900 | €90,610 | €94,364 | +€3,754 | +4.1% |
| Operating profit (loss) | 9901 | €45,612 | €48,319 | +€2,707 | +5.9% |
| Financial income | 75/76B | €100,757 | €78,350 | -€22,407 | -22.2% |
| Recurring financial income | 75 | €100,757 | €78,350 | -€22,407 | -22.2% |
| Financial charges | 65/66B | €2,780 | €2,517 | -€262 | -9.4% |
| Recurring financial charges | 65 | €2,780 | €2,517 | -€262 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €143,589 | €124,151 | -€19,438 | -13.5% |
| Income taxes | 67/77 | €13,091 | €22,472 | +€9,382 | +71.7% |
| Profit (loss) for the period | 9904 | €130,498 | €101,679 | -€28,819 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €130,498 | €101,679 | -€28,819 | -22.1% |
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 27 October 2026 via checked.be.