Hematite: 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.
Hematite
Largest movements
- Receivables within one year +€160,078
up €160,078 (+69.9%), from €229,076 to €389,154
of which Trade receivables: +€160,875
- Cash +€28,048
up €28,048 (+2,700%), from €1,039 to €29,087
mainly Accrued charges and deferred income (+€189,447) and Trade debts (+€89,202)
- Deferred charges and accrued income +€22,142
new in 2025: €22,142
- Tangible fixed assets +€18,672
up €18,672 (+32.9%), from €56,766 to €75,439
- Accrued charges and deferred income +€189,447
up €189,447 (+1,363%), from €13,901 to €203,347
- Trade debts +€89,202
up €89,202 (+5,947%), from €1,500 to €90,702
- Debts after one year -€60,000
down €60,000 (-28.6%), from €210,000 to €150,000
- Profit (loss) carried forward +€11,195
up €11,195 (+63.5%), from €17,642 to €28,837
- Gross operating margin -€179,721
down €179,721 (-75.8%), from €237,036 to €57,315
- Depreciation +€8,568
up €8,568 (+86.1%), from €9,953 to €18,521
- Financial charges +€5,404
up €5,404 (+49.0%), from €11,027 to €16,431
- Other operating charges -€2,599
down €2,599 (-60.4%), from €4,305 to €1,706
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 | €292,295 | €520,478 | +€228,183 | +78.1% |
| Fixed assets | 21/28 | €62,181 | €80,096 | +€17,915 | +28.8% |
| Intangible fixed assets | 21 | €4,224 | €3,467 | -€757 | -17.9% |
| Tangible fixed assets | 22/27 | €56,766 | €75,439 | +€18,672 | +32.9% |
| Plant, machinery and equipment | 23 | €24,552 | €30,267 | +€5,715 | +23.3% |
| Furniture and vehicles | 24 | €32,215 | €40,347 | +€8,133 | +25.2% |
| Other tangible fixed assets | 26 | - | €4,825 | +€4,825 | |
| Financial fixed assets | 28 | €1,190 | €1,190 | = | 0.0% |
| Current assets | 29/58 | €230,114 | €440,382 | +€210,268 | +91.4% |
| Amounts receivable within one year | 40/41 | €229,076 | €389,154 | +€160,078 | +69.9% |
| Trade receivables | 40 | €228,279 | €389,154 | +€160,875 | +70.5% |
| Other amounts receivable | 41 | €797 | - | -€797 | |
| Cash at bank and in hand | 54/58 | €1,039 | €29,087 | +€28,048 | +2,700% |
| Deferred charges and accrued income | 490/1 | - | €22,142 | +€22,142 | |
| Total equity and liabilities | 10/49 | €292,295 | €520,478 | +€228,183 | +78.1% |
| Equity | 10/15 | €22,642 | €33,837 | +€11,195 | +49.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | - | -€5,000 | |
| Other | 1109/19 | €5,000 | - | -€5,000 | |
| Profit (loss) carried forward | 14 | €17,642 | €28,837 | +€11,195 | +63.5% |
| Amounts payable | 17/49 | €269,653 | €486,641 | +€216,988 | +80.5% |
| Amounts payable after more than one year | 17 | €210,000 | €150,000 | -€60,000 | -28.6% |
| Financial debts | 170/4 | €210,000 | €150,000 | -€60,000 | -28.6% |
| Amounts payable within one year | 42/48 | €45,752 | €133,294 | +€87,542 | +191% |
| Trade debts | 44 | €1,500 | €90,702 | +€89,202 | +5,947% |
| Suppliers | 440/4 | €1,500 | €90,702 | +€89,202 | +5,947% |
| Taxes, remuneration and social security | 45 | €44,252 | €42,591 | -€1,661 | -3.8% |
| Taxes | 450/3 | €44,252 | €40,594 | -€3,658 | -8.3% |
| Remuneration and social security | 454/9 | - | €1,997 | +€1,997 | |
| Accrued charges and deferred income | 492/3 | €13,901 | €203,347 | +€189,447 | +1,363% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,953 | €18,521 | +€8,568 | +86.1% |
| Other operating charges | 640/8 | €4,305 | €1,706 | -€2,599 | -60.4% |
| Gross operating margin | 9900 | €237,036 | €57,315 | -€179,721 | -75.8% |
| Operating profit (loss) | 9901 | €222,779 | €37,088 | -€185,691 | -83.4% |
| Financial income | 75/76B | €9 | €49 | +€40 | +446% |
| Recurring financial income | 75 | €9 | €49 | +€40 | +446% |
| Financial charges | 65/66B | €11,027 | €16,431 | +€5,404 | +49.0% |
| Recurring financial charges | 65 | €11,027 | €16,431 | +€5,404 | +49.0% |
| Profit (loss) for the period before taxes | 9903 | €211,760 | €20,706 | -€191,054 | -90.2% |
| Income taxes | 67/77 | €9,238 | €9,511 | +€274 | +3.0% |
| Profit (loss) for the period | 9904 | €202,523 | €11,195 | -€191,328 | -94.5% |
| Profit (loss) for the period to be appropriated | 9905 | €202,523 | €11,195 | -€191,328 | -94.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.