Mick Hanon: 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.
Mick Hanon
Largest movements
- Tangible fixed assets +€35,182
up €35,182 (+210%), from €16,737 to €51,919
of which Furniture and vehicles: +€34,536
- Cash -€17,612
down €17,612 (-29.6%), from €59,448 to €41,837
mainly Contributions, distributions and other (-€50,000) and Investment in fixed assets (net) (-€40,701)
- Receivables within one year -€5,151
down €5,151 (-24.6%), from €20,954 to €15,803
of which Other amounts receivable: -€4,101
- Reserves -€20,591
down €20,591 (-26.8%), from €76,754 to €56,163
- Debts after one year +€19,279
up €19,279 (+1,322%), from €1,458 to €20,737
of which Financial debts: +€20,737
- Tax, wage and social debts +€9,687
up €9,687 (+339%), from €2,861 to €12,548
of which Taxes: +€8,488
- Current portion of long-term debt +€8,847
up €8,847 (+154%), from €5,758 to €14,605
- Other debts -€4,432
down €4,432 (-63.3%), from €7,000 to €2,568
- Depreciation -€8,227
down €8,227 (-59.8%), from €13,746 to €5,519
- Gross operating margin +€6,026
up €6,026 (+15.1%), from €39,911 to €45,937
- Taxes +€5,034
up €5,034 (+92.7%), from €5,430 to €10,463
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 | €97,729 | €110,159 | +€12,430 | +12.7% |
| Fixed assets | 21/28 | €16,737 | €51,919 | +€35,182 | +210% |
| Tangible fixed assets | 22/27 | €16,737 | €51,919 | +€35,182 | +210% |
| Land and buildings | 22 | €4,341 | €5,455 | +€1,114 | +25.7% |
| Plant, machinery and equipment | 23 | €8,680 | €8,212 | -€468 | -5.4% |
| Furniture and vehicles | 24 | €3,717 | €38,253 | +€34,536 | +929% |
| Current assets | 29/58 | €80,992 | €58,239 | -€22,752 | -28.1% |
| Amounts receivable within one year | 40/41 | €20,954 | €15,803 | -€5,151 | -24.6% |
| Trade receivables | 40 | €16,533 | €15,483 | -€1,050 | -6.3% |
| Other amounts receivable | 41 | €4,421 | €320 | -€4,101 | -92.8% |
| Cash at bank and in hand | 54/58 | €59,448 | €41,837 | -€17,612 | -29.6% |
| Deferred charges and accrued income | 490/1 | €590 | €600 | +€10 | +1.8% |
| Total equity and liabilities | 10/49 | €97,729 | €110,159 | +€12,430 | +12.7% |
| Equity | 10/15 | €79,754 | €59,163 | -€20,591 | -25.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €76,754 | €56,163 | -€20,591 | -26.8% |
| Distributable reserves | 133 | €76,754 | €56,163 | -€20,591 | -26.8% |
| Amounts payable | 17/49 | €17,975 | €50,996 | +€33,021 | +184% |
| Amounts payable after more than one year | 17 | €1,458 | €20,737 | +€19,279 | +1,322% |
| Financial debts | 170/4 | - | €20,737 | +€20,737 | |
| Other amounts payable | 178/9 | €1,458 | - | -€1,458 | |
| Amounts payable within one year | 42/48 | €16,517 | €30,259 | +€13,742 | +83.2% |
| Current portion of amounts payable after more than one year | 42 | €5,758 | €14,605 | +€8,847 | +154% |
| Trade debts | 44 | €898 | €537 | -€361 | -40.2% |
| Suppliers | 440/4 | €898 | €537 | -€361 | -40.2% |
| Taxes, remuneration and social security | 45 | €2,861 | €12,548 | +€9,687 | +339% |
| Taxes | 450/3 | €2,861 | €11,349 | +€8,488 | +297% |
| Remuneration and social security | 454/9 | - | €1,199 | +€1,199 | |
| Other amounts payable | 47/48 | €7,000 | €2,568 | -€4,432 | -63.3% |
| Non-recurring operating income | 76A | - | €16,117 | +€16,117 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,746 | €5,519 | -€8,227 | -59.8% |
| Other operating charges | 640/8 | €677 | €602 | -€76 | -11.2% |
| Gross operating margin | 9900 | €39,911 | €45,937 | +€6,026 | +15.1% |
| Operating profit (loss) | 9901 | €25,488 | €39,815 | +€14,328 | +56.2% |
| Financial income | 75/76B | €340 | €240 | -€100 | -29.4% |
| Recurring financial income | 75 | €340 | €240 | -€100 | -29.4% |
| Financial charges | 65/66B | €282 | €183 | -€99 | -35.0% |
| Recurring financial charges | 65 | €282 | €183 | -€99 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €25,546 | €39,872 | +€14,327 | +56.1% |
| Income taxes | 67/77 | €5,430 | €10,463 | +€5,034 | +92.7% |
| Profit (loss) for the period | 9904 | €20,116 | €29,409 | +€9,293 | +46.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,116 | €29,409 | +€9,293 | +46.2% |
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 13 October 2026 via checked.be.