RED HAWK: what changed
Two fiscal 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.
RED HAWK
Largest movements
- Cash -€14,090
down €14,090 (-24.5%), from €57,576 to €43,486
mainly Net result for the year (-€14,330) and Tax, wage and social debts (-€328)
- Tangible fixed assets -€685
down €685 (-41.4%), from €1,655 to €970
- Profit (loss) carried forward -€14,330
down €14,330, from €1,476 to -€12,854
- Gross operating margin -€12,521
down €12,521 (-2430.2%), from -€515 to -€13,036
- Financial income -€910
down €910 (-100.0%), from €910 to €0
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.
Cash bridge derived
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 | €59,355 | €44,736 | -€14,618 | -24.6% |
| Fixed assets | 21/28 | €1,655 | €970 | -€685 | -41.4% |
| Tangible fixed assets | 22/27 | €1,655 | €970 | -€685 | -41.4% |
| Furniture and vehicles | 24 | €1,655 | €970 | -€685 | -41.4% |
| Current assets | 29/58 | €57,700 | €43,766 | -€13,934 | -24.1% |
| Amounts receivable within one year | 40/41 | €0 | €154 | +€154 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €154 | +€154 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €57,576 | €43,486 | -€14,090 | -24.5% |
| Deferred charges and accrued income | 490/1 | €124 | €126 | +€2 | +2.0% |
| Total equity and liabilities | 10/49 | €59,355 | €44,736 | -€14,618 | -24.6% |
| Equity | 10/15 | €58,226 | €43,896 | -€14,330 | -24.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €46,750 | €46,750 | = | 0.0% |
| Distributable reserves | 133 | €46,750 | €46,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,476 | -€12,854 | -€14,330 | |
| Amounts payable | 17/49 | €1,128 | €840 | -€288 | -25.5% |
| Amounts payable within one year | 42/48 | €1,128 | €840 | -€288 | -25.5% |
| Trade debts | 44 | €800 | €840 | +€40 | +5.0% |
| Suppliers | 440/4 | €800 | €840 | +€40 | +5.0% |
| Taxes, remuneration and social security | 45 | €328 | €0 | -€328 | -100.0% |
| Taxes | 450/3 | €328 | €0 | -€328 | -100.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €685 | €685 | = | 0.0% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | -€515 | -€13,036 | -€12,521 | -2430.2% |
| Operating profit (loss) | 9901 | -€1,769 | -€14,306 | -€12,537 | -708.8% |
| Financial income | 75/76B | €910 | €0 | -€910 | -100.0% |
| Recurring financial income | 75 | €910 | €0 | -€910 | -100.0% |
| Financial charges | 65/66B | €60 | €41 | -€20 | -32.5% |
| Recurring financial charges | 65 | €60 | €41 | -€20 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | -€919 | -€14,346 | -€13,428 | -1461.3% |
| Income taxes | 67/77 | €59 | -€16 | -€75 | |
| Profit (loss) for the period | 9904 | -€978 | -€14,330 | -€13,353 | -1365.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€978 | -€14,330 | -€13,353 | -1365.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.