Hazes: 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.
Hazes
Largest movements
- Cash -€1.5m
down €1.5m (-97.8%), from €1.5m to €33,161
mainly Current investments (-€1.4m) and Tax, wage and social debts (-€30,329)
- Current investments +€1.4m
new in 2025: €1.4m
- Tax, wage and social debts -€30,329
no longer reported in 2025 (was €30,329)
- Financial income -€16,418
down €16,418 (-48.5%), from €33,830 to €17,412
- Gross operating margin -€6,813
down €6,813 (-31.0%), from -€21,975 to -€28,788
- Taxes -€3,300
no longer reported in 2025 (was €3,300)
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 | €1,518,665 | €1,469,882 | -€48,783 | -3.2% |
| Current assets | 29/58 | €1,518,665 | €1,469,882 | -€48,783 | -3.2% |
| Amounts receivable within one year | 40/41 | €14,281 | €16,721 | +€2,440 | +17.1% |
| Other amounts receivable | 41 | €14,281 | €16,721 | +€2,440 | +17.1% |
| Current investments | 50/53 | - | €1,420,000 | +€1.4m | |
| Cash at bank and in hand | 54/58 | €1,504,384 | €33,161 | -€1.5m | -97.8% |
| Total equity and liabilities | 10/49 | €1,518,665 | €1,469,882 | -€48,783 | -3.2% |
| Equity | 10/15 | €1,318,038 | €1,305,277 | -€12,761 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,299,438 | €1,286,677 | -€12,761 | -1.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,297,578 | €1,284,817 | -€12,761 | -1.0% |
| Provisions and deferred taxes | 16 | €100,000 | €100,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €100,000 | €100,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable | 17/49 | €100,627 | €64,605 | -€36,023 | -35.8% |
| Amounts payable within one year | 42/48 | €100,627 | €64,605 | -€36,023 | -35.8% |
| Trade debts | 44 | €7,252 | €1,513 | -€5,740 | -79.1% |
| Suppliers | 440/4 | €7,252 | €1,513 | -€5,740 | -79.1% |
| Taxes, remuneration and social security | 45 | €30,329 | - | -€30,329 | |
| Taxes | 450/3 | €30,329 | - | -€30,329 | |
| Other amounts payable | 47/48 | €63,046 | €63,092 | +€46 | +0.1% |
| Other operating charges | 640/8 | €1,086 | €1,182 | +€96 | +8.9% |
| Gross operating margin | 9900 | -€21,975 | -€28,788 | -€6,813 | -31.0% |
| Operating profit (loss) | 9901 | -€23,061 | -€29,970 | -€6,909 | -30.0% |
| Financial income | 75/76B | €33,830 | €17,412 | -€16,418 | -48.5% |
| Recurring financial income | 75 | €33,830 | €17,412 | -€16,418 | -48.5% |
| Financial charges | 65/66B | €196 | €203 | +€6 | +3.2% |
| Recurring financial charges | 65 | €196 | €203 | +€6 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €10,573 | -€12,761 | -€23,334 | |
| Income taxes | 67/77 | €3,300 | - | -€3,300 | |
| Profit (loss) for the period | 9904 | €7,273 | -€12,761 | -€20,034 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,273 | -€12,761 | -€20,034 |
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 3 October 2026 via checked.be.