Pascal Hanique: 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.
Pascal Hanique
Largest movements
- Current investments +€150,000
up €150,000 (+75.0%), from €200,000 to €350,000
- Cash -€63,347
down €63,347 (-23.9%), from €264,649 to €201,302
mainly Current investments (-€150,000) and Other debts (-€35,612)
- Receivables within one year -€25,575
down €25,575 (-36.2%), from €70,746 to €45,171
of which Trade receivables: -€41,085
- Reserves +€111,599
up €111,599 (+25.3%), from €440,614 to €552,212
- Other debts -€35,612
no longer reported in 2025 (was €35,612)
- Tax, wage and social debts -€6,839
down €6,839 (-13.5%), from €50,546 to €43,706
- Gross operating margin +€42,061
up €42,061 (+30.2%), from €139,431 to €181,493
- Other operating charges +€15,819
up €15,819 (+3,552%), from €445 to €16,265
- Taxes +€7,915
up €7,915 (+17.2%), from €46,026 to €53,940
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 | €544,505 | €609,432 | +€64,927 | +11.9% |
| Fixed assets | 21/28 | €4,713 | €7,164 | +€2,451 | +52.0% |
| Tangible fixed assets | 22/27 | €2,713 | €5,164 | +€2,451 | +90.3% |
| Land and buildings | 22 | €570 | €285 | -€285 | -50.0% |
| Plant, machinery and equipment | 23 | €2,074 | €2,293 | +€219 | +10.6% |
| Other tangible fixed assets | 26 | €69 | €2,586 | +€2,517 | +3,644% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €539,792 | €602,268 | +€62,476 | +11.6% |
| Amounts receivable within one year | 40/41 | €70,746 | €45,171 | -€25,575 | -36.2% |
| Trade receivables | 40 | €70,746 | €29,661 | -€41,085 | -58.1% |
| Other amounts receivable | 41 | - | €15,510 | +€15,510 | |
| Current investments | 50/53 | €200,000 | €350,000 | +€150,000 | +75.0% |
| Cash at bank and in hand | 54/58 | €264,649 | €201,302 | -€63,347 | -23.9% |
| Deferred charges and accrued income | 490/1 | €4,398 | €5,795 | +€1,397 | +31.8% |
| Total equity and liabilities | 10/49 | €544,505 | €609,432 | +€64,927 | +11.9% |
| Equity | 10/15 | €440,614 | €552,212 | +€111,599 | +25.3% |
| Reserves | 13 | €440,614 | €552,212 | +€111,599 | +25.3% |
| Distributable reserves | 133 | €440,614 | €552,212 | +€111,599 | +25.3% |
| Amounts payable | 17/49 | €103,891 | €57,220 | -€46,671 | -44.9% |
| Amounts payable within one year | 42/48 | €103,891 | €57,220 | -€46,671 | -44.9% |
| Trade debts | 44 | €17,734 | €13,514 | -€4,220 | -23.8% |
| Suppliers | 440/4 | €17,734 | €13,514 | -€4,220 | -23.8% |
| Taxes, remuneration and social security | 45 | €50,546 | €43,706 | -€6,839 | -13.5% |
| Taxes | 450/3 | €50,546 | €43,706 | -€6,839 | -13.5% |
| Other amounts payable | 47/48 | €35,612 | - | -€35,612 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,115 | €1,643 | +€528 | +47.4% |
| Other operating charges | 640/8 | €445 | €16,265 | +€15,819 | +3,552% |
| Gross operating margin | 9900 | €139,431 | €181,493 | +€42,061 | +30.2% |
| Operating profit (loss) | 9901 | €137,871 | €163,585 | +€25,714 | +18.7% |
| Financial income | 75/76B | €4,333 | €4,022 | -€311 | -7.2% |
| Recurring financial income | 75 | €4,333 | €4,022 | -€311 | -7.2% |
| Financial charges | 65/66B | €2,329 | €2,069 | -€261 | -11.2% |
| Recurring financial charges | 65 | €2,329 | €2,069 | -€261 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €139,875 | €165,539 | +€25,663 | +18.3% |
| Income taxes | 67/77 | €46,026 | €53,940 | +€7,915 | +17.2% |
| Profit (loss) for the period | 9904 | €93,850 | €111,599 | +€17,749 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €93,850 | €111,599 | +€17,749 | +18.9% |
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 17 October 2026 via checked.be.