HAZO: 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.
HAZO
Largest movements
- Cash -€13,984
down €13,984 (-10.6%), from €131,473 to €117,490
mainly Net result for the year (-€17,073) and Trade debts (-€384)
- Tangible fixed assets -€3,280
down €3,280 (-60.2%), from €5,449 to €2,169
of which Furniture and vehicles: -€2,831
- Profit (loss) carried forward -€17,073
down €17,073, from €402 to -€16,671
- Gross operating margin -€21,081
down €21,081, from €8,020 to -€13,062
- Depreciation -€3,373
down €3,373 (-50.7%), from €6,654 to €3,280
- Taxes -€433
down €433 (-100%), from €433 to €0
- Financial income -€172
down €172 (-100%), from €172 to €0
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 | €139,572 | €121,997 | -€17,575 | -12.6% |
| Fixed assets | 21/28 | €5,449 | €2,169 | -€3,280 | -60.2% |
| Tangible fixed assets | 22/27 | €5,449 | €2,169 | -€3,280 | -60.2% |
| Furniture and vehicles | 24 | €2,831 | €0 | -€2,831 | -100% |
| Other tangible fixed assets | 26 | €2,618 | €2,169 | -€449 | -17.2% |
| Current assets | 29/58 | €134,123 | €119,828 | -€14,295 | -10.7% |
| Amounts receivable within one year | 40/41 | €1,761 | €1,387 | -€374 | -21.3% |
| Trade receivables | 40 | €40 | €0 | -€40 | -100% |
| Other amounts receivable | 41 | €1,721 | €1,387 | -€334 | -19.4% |
| Cash at bank and in hand | 54/58 | €131,473 | €117,490 | -€13,984 | -10.6% |
| Deferred charges and accrued income | 490/1 | €888 | €952 | +€64 | +7.2% |
| Total equity and liabilities | 10/49 | €139,572 | €121,997 | -€17,575 | -12.6% |
| Equity | 10/15 | €136,753 | €119,680 | -€17,073 | -12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,751 | €117,751 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €117,751 | €117,751 | = | 0.0% |
| Profit (loss) carried forward | 14 | €402 | -€16,671 | -€17,073 | |
| Amounts payable | 17/49 | €2,819 | €2,317 | -€502 | -17.8% |
| Amounts payable within one year | 42/48 | €2,819 | €2,317 | -€502 | -17.8% |
| Trade debts | 44 | €439 | €54 | -€384 | -87.6% |
| Suppliers | 440/4 | €439 | €54 | -€384 | -87.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,380 | €2,262 | -€117 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,654 | €3,280 | -€3,373 | -50.7% |
| Other operating charges | 640/8 | €634 | €660 | +€26 | +4.1% |
| Gross operating margin | 9900 | €8,020 | -€13,062 | -€21,081 | |
| Operating profit (loss) | 9901 | €732 | -€17,002 | -€17,734 | |
| Financial income | 75/76B | €172 | €0 | -€172 | -100% |
| Recurring financial income | 75 | €172 | €0 | -€172 | -100% |
| Financial charges | 65/66B | €69 | €71 | +€2 | +2.9% |
| Recurring financial charges | 65 | €69 | €71 | +€2 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €835 | -€17,073 | -€17,908 | |
| Income taxes | 67/77 | €433 | €0 | -€433 | -100% |
| Profit (loss) for the period | 9904 | €402 | -€17,073 | -€17,475 | |
| Profit (loss) for the period to be appropriated | 9905 | €402 | -€17,073 | -€17,475 |
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.