Johan HATERT: 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.
Johan HATERT
Largest movements
- Stocks and contracts +€26,400
up €26,400 (+10.9%), from €242,600 to €269,000
- Tangible fixed assets +€21,526
up €21,526 (+4.7%), from €461,493 to €483,020
of which Land and buildings: +€29,616
- Other debts +€57,791
up €57,791 (+165%), from €35,039 to €92,830
- Trade debts +€57,585
up €57,585 (+56.1%), from €102,614 to €160,199
- Debts after one year -€38,271
down €38,271 (-8.8%), from €436,958 to €398,687
- Tax, wage and social debts -€30,806
down €30,806 (-65.0%), from €47,385 to €16,580
of which Taxes: -€30,787
- Short-term financial debts +€10,199
up €10,199 (+200%), from €5,112 to €15,311
- Gross operating margin -€13,556
down €13,556 (-23.8%), from €57,029 to €43,473
- Financial charges +€5,470
up €5,470 (+40.0%), from €13,667 to €19,137
- Financial income -€5,229
down €5,229 (-54.0%), from €9,690 to €4,461
- Taxes -€4,879
down €4,879 (-79.4%), from €6,143 to €1,264
- Staff costs -€4,386
down €4,386 (-20.8%), from €21,122 to €16,737
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 | €862,033 | €920,051 | +€58,018 | +6.7% |
| Fixed assets | 21/28 | €461,616 | €483,142 | +€21,526 | +4.7% |
| Tangible fixed assets | 22/27 | €461,493 | €483,020 | +€21,526 | +4.7% |
| Land and buildings | 22 | €436,172 | €465,788 | +€29,616 | +6.8% |
| Plant, machinery and equipment | 23 | €2,424 | €1,657 | -€767 | -31.6% |
| Furniture and vehicles | 24 | €8,665 | €1,343 | -€7,322 | -84.5% |
| Other tangible fixed assets | 26 | €14,232 | €14,232 | = | 0.0% |
| Financial fixed assets | 28 | €123 | €123 | = | 0.0% |
| Current assets | 29/58 | €400,416 | €436,908 | +€36,492 | +9.1% |
| Amounts receivable after more than one year | 29 | €148,689 | €153,150 | +€4,461 | +3.0% |
| Other amounts receivable | 291 | €148,689 | €153,150 | +€4,461 | +3.0% |
| Stocks and contracts in progress | 3 | €242,600 | €269,000 | +€26,400 | +10.9% |
| Stocks | 30/36 | €242,600 | €269,000 | +€26,400 | +10.9% |
| Amounts receivable within one year | 40/41 | €6,791 | €12,506 | +€5,715 | +84.2% |
| Trade receivables | 40 | €3,464 | €3,872 | +€408 | +11.8% |
| Other amounts receivable | 41 | €3,327 | €8,634 | +€5,307 | +160% |
| Cash at bank and in hand | 54/58 | €1,871 | €232 | -€1,639 | -87.6% |
| Deferred charges and accrued income | 490/1 | €466 | €2,021 | +€1,555 | +334% |
| Total equity and liabilities | 10/49 | €862,033 | €920,051 | +€58,018 | +6.7% |
| Equity | 10/15 | €192,331 | €191,939 | -€391 | -0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €174,063 | €174,063 | = | 0.0% |
| 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 | €172,203 | €172,203 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,068 | €11,677 | -€391 | -3.2% |
| Amounts payable | 17/49 | €669,702 | €728,112 | +€58,409 | +8.7% |
| Amounts payable after more than one year | 17 | €436,958 | €398,687 | -€38,271 | -8.8% |
| Financial debts | 170/4 | €436,958 | €398,687 | -€38,271 | -8.8% |
| Amounts payable within one year | 42/48 | €232,745 | €329,425 | +€96,681 | +41.5% |
| Current portion of amounts payable after more than one year | 42 | €42,595 | €44,506 | +€1,911 | +4.5% |
| Financial debts | 43 | €5,112 | €15,311 | +€10,199 | +200% |
| Credit institutions | 430/8 | €5,112 | €15,311 | +€10,199 | +200% |
| Trade debts | 44 | €102,614 | €160,199 | +€57,585 | +56.1% |
| Suppliers | 440/4 | €102,614 | €160,199 | +€57,585 | +56.1% |
| Taxes, remuneration and social security | 45 | €47,385 | €16,580 | -€30,806 | -65.0% |
| Taxes | 450/3 | €46,437 | €15,650 | -€30,787 | -66.3% |
| Remuneration and social security | 454/9 | €949 | €930 | -€19 | -2.0% |
| Other amounts payable | 47/48 | €35,039 | €92,830 | +€57,791 | +165% |
| Remuneration, social security and pensions | 62 | €21,122 | €16,737 | -€4,386 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,900 | €8,155 | -€2,745 | -25.2% |
| Other operating charges | 640/8 | €3,832 | €2,812 | -€1,020 | -26.6% |
| Non-recurring operating charges | 66A | - | €220 | +€220 | |
| Gross operating margin | 9900 | €57,029 | €43,473 | -€13,556 | -23.8% |
| Operating profit (loss) | 9901 | €21,175 | €15,549 | -€5,625 | -26.6% |
| Financial income | 75/76B | €9,690 | €4,461 | -€5,229 | -54.0% |
| Recurring financial income | 75 | €9,690 | €4,461 | -€5,229 | -54.0% |
| Financial charges | 65/66B | €13,667 | €19,137 | +€5,470 | +40.0% |
| Recurring financial charges | 65 | €13,667 | €19,137 | +€5,470 | +40.0% |
| Profit (loss) for the period before taxes | 9903 | €17,198 | €873 | -€16,325 | -94.9% |
| Income taxes | 67/77 | €6,143 | €1,264 | -€4,879 | -79.4% |
| Profit (loss) for the period | 9904 | €11,055 | -€391 | -€11,446 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,055 | -€391 | -€11,446 |
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 17 October 2026 via checked.be.