Pol Hanssens: 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.
Pol Hanssens
Largest movements
- Tangible fixed assets -€35,709
down €35,709 (-20.8%), from €171,878 to €136,169
of which Plant, machinery and equipment: -€24,566
- Cash +€28,889
up €28,889 (+5.6%), from €513,979 to €542,868
mainly Net result for the year (+€39,829) and Depreciation (+€35,709)
- Receivables within one year +€18,242
up €18,242 (+123%), from €14,866 to €33,108
of which Other amounts receivable: +€18,163
- Reserves +€39,829
up €39,829 (+6.1%), from €655,490 to €695,319
- Tax, wage and social debts -€19,840
down €19,840 (-52.7%), from €37,653 to €17,813
of which Taxes: -€21,912
- Gross operating margin -€197,372
down €197,372 (-32.3%), from €611,057 to €413,685
- Taxes -€55,656
down €55,656 (-71.9%), from €77,359 to €21,703
- Staff costs -€20,834
down €20,834 (-6.2%), from €336,976 to €316,142
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 | €734,864 | €744,291 | +€9,428 | +1.3% |
| Fixed assets | 21/28 | €171,878 | €136,169 | -€35,709 | -20.8% |
| Intangible fixed assets | 21 | €0 | €0 | -€0 | -25.0% |
| Tangible fixed assets | 22/27 | €171,878 | €136,169 | -€35,709 | -20.8% |
| Plant, machinery and equipment | 23 | €135,334 | €110,768 | -€24,566 | -18.2% |
| Furniture and vehicles | 24 | €36,544 | €25,401 | -€11,143 | -30.5% |
| Current assets | 29/58 | €562,985 | €608,122 | +€45,137 | +8.0% |
| Stocks and contracts in progress | 3 | €8,500 | €8,500 | = | 0.0% |
| Stocks | 30/36 | €8,500 | €8,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,866 | €33,108 | +€18,242 | +123% |
| Trade receivables | 40 | €2,583 | €2,662 | +€79 | +3.1% |
| Other amounts receivable | 41 | €12,283 | €30,447 | +€18,163 | +148% |
| Current investments | 50/53 | €23,645 | €23,645 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €513,979 | €542,868 | +€28,889 | +5.6% |
| Deferred charges and accrued income | 490/1 | €1,994 | €0 | -€1,994 | -100% |
| Total equity and liabilities | 10/49 | €734,864 | €744,291 | +€9,428 | +1.3% |
| Equity | 10/15 | €660,490 | €700,319 | +€39,829 | +6.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €655,490 | €695,319 | +€39,829 | +6.1% |
| Distributable reserves | 133 | €655,490 | €695,319 | +€39,829 | +6.1% |
| Amounts payable | 17/49 | €74,374 | €43,972 | -€30,401 | -40.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €74,374 | €43,972 | -€30,401 | -40.9% |
| Current portion of amounts payable after more than one year | 42 | €4,292 | €0 | -€4,292 | -100% |
| Trade debts | 44 | €32,428 | €26,159 | -€6,269 | -19.3% |
| Suppliers | 440/4 | €32,428 | €26,159 | -€6,269 | -19.3% |
| Taxes, remuneration and social security | 45 | €37,653 | €17,813 | -€19,840 | -52.7% |
| Taxes | 450/3 | €22,010 | €98 | -€21,912 | -99.6% |
| Remuneration and social security | 454/9 | €15,643 | €17,715 | +€2,072 | +13.2% |
| Remuneration, social security and pensions | 62 | €336,976 | €316,142 | -€20,834 | -6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,383 | €35,709 | +€326 | +0.9% |
| Other operating charges | 640/8 | €1,084 | €1,489 | +€405 | +37.3% |
| Gross operating margin | 9900 | €611,057 | €413,685 | -€197,372 | -32.3% |
| Operating profit (loss) | 9901 | €237,614 | €60,346 | -€177,269 | -74.6% |
| Financial income | 75/76B | €5,897 | €6,036 | +€140 | +2.4% |
| Recurring financial income | 75 | €5,897 | €6,036 | +€140 | +2.4% |
| Financial charges | 65/66B | €1,196 | €4,850 | +€3,655 | +306% |
| Recurring financial charges | 65 | €1,196 | €4,850 | +€3,655 | +306% |
| Profit (loss) for the period before taxes | 9903 | €242,315 | €61,532 | -€180,783 | -74.6% |
| Income taxes | 67/77 | €77,359 | €21,703 | -€55,656 | -71.9% |
| Profit (loss) for the period | 9904 | €164,956 | €39,829 | -€125,127 | -75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €164,956 | €39,829 | -€125,127 | -75.9% |
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 20 October 2026 via checked.be.