HAZGO: 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.
What changed
HAZGO
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.1m
2024 · €1.6m+€497,389
Equity
€736,390
2024 · €3.8m-€3.1m
Cash
€1.5m
2024 · €2.7m-€1.2m
Balance sheet total
€8.8m
2024 · €5.9m+€2.9m
Largest movements
Assets
- Current investments +€2.5m
new in 2025: €2.5m
- Cash -€1.2m
down €1.2m (-43.1%), from €2.7m to €1.5m
mainly Contributions, distributions and other (-€5.1m) and Current investments (-€2.5m)
- Tangible fixed assets +€841,681
up €841,681 (+380%), from €221,305 to €1.1m
of which Other tangible fixed assets: +€879,956
- Receivables within one year +€739,193
up €739,193 (+25.4%), from €2.9m to €3.7m
of which Trade receivables: +€760,691
Equity and liabilities
- Other debts +€5.5m
up €5.5m, from €0 to €5.5m
- Profit (loss) carried forward -€3.1m
down €3.1m (-99.5%), from €3.1m to €14,690
- Trade debts +€374,057
up €374,057 (+25.2%), from €1.5m to €1.9m
- Tax, wage and social debts +€121,948
up €121,948 (+22.6%), from €539,656 to €661,604
of which Remuneration and social security: +€117,179
Income statement
- Turnover +€14.2m
new in 2025: €14.2m
- Goods and materials +€6.3m
new in 2025: €6.3m
- Gross operating margin -€4.7m
no longer reported in 2025 (was €4.7m)
- Services and other goods +€2.7m
new in 2025: €2.7m
- Staff costs +€389,196
up €389,196 (+18.3%), from €2.1m to €2.5m
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.
Result 2024
€1.6m
Turnover
+€14.2m
Other operating income
+€78,790
Goods and materials
-€6.3m
Services and other goods
-€2.7m
Staff costs
-€389,196
Depreciation
-€9,221
Write-downs
-€24,393
Other operating charges
+€1,607
Other operating items
-€4.4m
Financial income
+€11,588
Financial charges
-€15,748
Taxes
-€83,149
Result 2025
€2.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€7.5m
Investment
-€3.5m
Financing
-€5.2m
Cash 2024
€2.7m
From operations (derived)
+€7.5m
Net result for the year
+€2.1m
Depreciation
+€114,271
Receivables within one year
-€739,193
Deferred charges and accrued income
+€30,821
Trade debts
+€374,057
Tax, wage and social debts
+€121,948
Other debts
+€5.5m
Accrued charges and deferred income
-€88
Investment (derived)
-€3.5m
Investment in fixed assets (net)
-€948,250
Current investments
-€2.5m
Financing
-€5.2m
Debts after one year
-€25,131
Current portion of long-term debt
-€31,945
Contributions, distributions and other
-€5.1m
Cash 2025
€1.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,905,548 | €8,792,421 | +€2.9m | +48.9% |
| Fixed assets | 21/28 | €235,592 | €1,069,571 | +€833,979 | +354% |
| Intangible fixed assets | 21 | €9,982 | €5,207 | -€4,775 | -47.8% |
| Tangible fixed assets | 22/27 | €221,305 | €1,062,986 | +€841,681 | +380% |
| Plant, machinery and equipment | 23 | €10,186 | €15,070 | +€4,884 | +48.0% |
| Furniture and vehicles | 24 | €135,650 | €116,566 | -€19,084 | -14.1% |
| Leasing and similar rights | 25 | €53,887 | €29,813 | -€24,074 | -44.7% |
| Other tangible fixed assets | 26 | €21,582 | €901,538 | +€879,956 | +4,077% |
| Financial fixed assets | 28 | €4,306 | €1,378 | -€2,928 | -68.0% |
| Other financial fixed assets | 284/8 | - | €1,378 | +€1,378 | |
| Amounts receivable and cash guarantees | 285/8 | - | €1,378 | +€1,378 | |
| Current assets | 29/58 | €5,669,956 | €7,722,850 | +€2.1m | +36.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,915,236 | €3,654,429 | +€739,193 | +25.4% |
| Trade receivables | 40 | €2,890,595 | €3,651,287 | +€760,691 | +26.3% |
| Other amounts receivable | 41 | €24,640 | €3,142 | -€21,498 | -87.2% |
| Current investments | 50/53 | - | €2,501,964 | +€2.5m | |
| Other investments | 51/53 | - | €2,501,964 | +€2.5m | |
| Cash at bank and in hand | 54/58 | €2,683,353 | €1,525,910 | -€1.2m | -43.1% |
| Deferred charges and accrued income | 490/1 | €71,368 | €40,547 | -€30,821 | -43.2% |
| Total equity and liabilities | 10/49 | €5,905,548 | €8,792,421 | +€2.9m | +48.9% |
| Equity | 10/15 | €3,788,360 | €736,390 | -€3.1m | -80.6% |
| Contributions | 10/11 | €20,000 | €82,000 | +€62,000 | +310% |
| Reserves | 13 | €633,500 | €639,700 | +€6,200 | +1.0% |
| Tax-exempt reserves | 132 | €631,500 | €210,500 | -€421,000 | -66.7% |
| Distributable reserves | 133 | €2,000 | €429,200 | +€427,200 | +21,360% |
| Profit (loss) carried forward | 14 | €3,134,860 | €14,690 | -€3.1m | -99.5% |
| Amounts payable | 17/49 | €2,117,188 | €8,056,030 | +€5.9m | +281% |
| Amounts payable after more than one year | 17 | €37,517 | €12,386 | -€25,131 | -67.0% |
| Financial debts | 170/4 | €37,517 | €12,386 | -€25,131 | -67.0% |
| Leasing and similar obligations | 172 | - | €12,386 | +€12,386 | |
| Amounts payable within one year | 42/48 | €2,079,583 | €8,043,644 | +€6.0m | +287% |
| Current portion of amounts payable after more than one year | 42 | €57,226 | €25,281 | -€31,945 | -55.8% |
| Trade debts | 44 | €1,482,701 | €1,856,759 | +€374,057 | +25.2% |
| Suppliers | 440/4 | €1,482,701 | €1,856,759 | +€374,057 | +25.2% |
| Taxes, remuneration and social security | 45 | €539,656 | €661,604 | +€121,948 | +22.6% |
| Taxes | 450/3 | €282,593 | €287,362 | +€4,769 | +1.7% |
| Remuneration and social security | 454/9 | €257,063 | €374,242 | +€117,179 | +45.6% |
| Other amounts payable | 47/48 | €0 | €5,500,000 | +€5.5m | |
| Accrued charges and deferred income | 492/3 | €88 | - | -€88 | |
| Operating income | 70/76A | - | €14,327,162 | +€14.3m | |
| Turnover | 70 | - | €14,248,372 | +€14.2m | |
| Other operating income | 74 | - | €78,790 | +€78,790 | |
| Non-recurring operating income | 76A | €1,240 | - | -€1,240 | |
| Operating charges | 60/66A | - | €11,598,065 | +€11.6m | |
| Goods for resale, raw materials and consumables | 60 | - | €6,272,300 | +€6.3m | |
| Purchases | 600/8 | - | €6,272,300 | +€6.3m | |
| Services and other goods | 61 | - | €2,665,410 | +€2.7m | |
| Remuneration, social security and pensions | 62 | €2,128,806 | €2,518,002 | +€389,196 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,050 | €114,271 | +€9,221 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €24,393 | +€24,393 | |
| Other operating charges | 640/8 | €5,296 | €3,689 | -€1,607 | -30.3% |
| Non-recurring operating charges | 66A | €344,272 | - | -€344,272 | |
| Gross operating margin | 9900 | €4,727,823 | - | -€4.7m | |
| Operating profit (loss) | 9901 | €2,144,398 | €2,729,097 | +€584,698 | +27.3% |
| Financial income | 75/76B | €4,274 | €15,862 | +€11,588 | +271% |
| Recurring financial income | 75 | €4,274 | €15,862 | +€11,588 | +271% |
| Income from current assets | 751 | - | €13,625 | +€13,625 | |
| Other financial income | 752/9 | - | €2,237 | +€2,237 | |
| Financial charges | 65/66B | €20,576 | €36,324 | +€15,748 | +76.5% |
| Recurring financial charges | 65 | €20,576 | €36,324 | +€15,748 | +76.5% |
| Debt charges | 650 | - | €6,806 | +€6,806 | |
| Other financial charges | 652/9 | - | €29,518 | +€29,518 | |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €2,128,097 | €2,708,635 | +€580,538 | +27.3% |
| Income taxes | 67/77 | €566,851 | €650,000 | +€83,149 | +14.7% |
| Taxes | 670/3 | - | €672,901 | +€672,901 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €22,901 | +€22,901 | |
| Profit (loss) for the period | 9904 | €1,561,246 | €2,058,635 | +€497,389 | +31.9% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €1,561,246 | €2,058,635 | +€497,389 | +31.9% |
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 14 October 2026 via checked.be.