T'HAIRAPY: 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.
T'HAIRAPY
Largest movements
- Tangible fixed assets +€65,539
up €65,539 (+233%), from €28,132 to €93,671
of which Other tangible fixed assets: +€66,715
- Receivables within one year +€32,439
up €32,439 (+466%), from €6,960 to €39,399
of which Trade receivables: +€33,751
- Cash -€16,684
down €16,684 (-63.7%), from €26,177 to €9,494
mainly Investment in fixed assets (net) (-€72,414) and Receivables within one year (-€32,439)
- Receivables after one year -€5,473
down €5,473 (-64.6%), from €8,478 to €3,005
- Debts after one year +€45,562
new in 2025: €45,562
- Trade debts +€35,580
up €35,580 (+493%), from €7,218 to €42,798
- Profit (loss) carried forward -€11,852
down €11,852 (-26.8%), from -€44,283 to -€56,134
- Current portion of long-term debt +€4,104
new in 2025: €4,104
- Tax, wage and social debts +€1,624
up €1,624 (+69.8%), from €2,326 to €3,950
of which Taxes: +€1,963
- Gross operating margin +€39,108
up €39,108 (+95.5%), from -€40,967 to -€1,859
- Depreciation +€4,804
up €4,804 (+232%), from €2,070 to €6,874
- Financial charges +€1,509
up €1,509 (+945%), from €160 to €1,669
- Other operating charges +€437
up €437 (+34.6%), from €1,260 to €1,697
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 | €80,216 | €155,234 | +€75,018 | +93.5% |
| Fixed assets | 21/28 | €30,723 | €96,262 | +€65,539 | +213% |
| Tangible fixed assets | 22/27 | €28,132 | €93,671 | +€65,539 | +233% |
| Plant, machinery and equipment | 23 | €3,041 | €2,214 | -€827 | -27.2% |
| Furniture and vehicles | 24 | €1,690 | €1,342 | -€348 | -20.6% |
| Other tangible fixed assets | 26 | €23,401 | €90,116 | +€66,715 | +285% |
| Financial fixed assets | 28 | €2,591 | €2,591 | = | 0.0% |
| Current assets | 29/58 | €49,494 | €58,972 | +€9,478 | +19.2% |
| Amounts receivable after more than one year | 29 | €8,478 | €3,005 | -€5,473 | -64.6% |
| Other amounts receivable | 291 | €8,478 | €3,005 | -€5,473 | -64.6% |
| Stocks and contracts in progress | 3 | €7,266 | €7,074 | -€192 | -2.6% |
| Stocks | 30/36 | €7,266 | €7,074 | -€192 | -2.6% |
| Amounts receivable within one year | 40/41 | €6,960 | €39,399 | +€32,439 | +466% |
| Trade receivables | 40 | €5,126 | €38,877 | +€33,751 | +658% |
| Other amounts receivable | 41 | €1,833 | €522 | -€1,311 | -71.5% |
| Cash at bank and in hand | 54/58 | €26,177 | €9,494 | -€16,684 | -63.7% |
| Deferred charges and accrued income | 490/1 | €613 | - | -€613 | |
| Total equity and liabilities | 10/49 | €80,216 | €155,234 | +€75,018 | +93.5% |
| Equity | 10/15 | €57,403 | €45,552 | -€11,852 | -20.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €39,686 | €39,686 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,797 | €3,797 | = | 0.0% |
| Distributable reserves | 133 | €29,689 | €29,689 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,283 | -€56,134 | -€11,852 | -26.8% |
| Amounts payable | 17/49 | €22,813 | €109,682 | +€86,869 | +381% |
| Amounts payable after more than one year | 17 | - | €45,562 | +€45,562 | |
| Financial debts | 170/4 | - | €45,562 | +€45,562 | |
| Amounts payable within one year | 42/48 | €21,869 | €63,176 | +€41,307 | +189% |
| Current portion of amounts payable after more than one year | 42 | - | €4,104 | +€4,104 | |
| Trade debts | 44 | €7,218 | €42,798 | +€35,580 | +493% |
| Suppliers | 440/4 | €7,218 | €42,798 | +€35,580 | +493% |
| Taxes, remuneration and social security | 45 | €2,326 | €3,950 | +€1,624 | +69.8% |
| Taxes | 450/3 | €101 | €2,064 | +€1,963 | +1,952% |
| Remuneration and social security | 454/9 | €2,225 | €1,886 | -€339 | -15.2% |
| Other amounts payable | 47/48 | €12,325 | €12,325 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €944 | €944 | = | 0.0% |
| Non-recurring operating income | 76A | - | €84 | +€84 | |
| Remuneration, social security and pensions | 62 | -€180 | - | +€180 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,070 | €6,874 | +€4,804 | +232% |
| Other operating charges | 640/8 | €1,260 | €1,697 | +€437 | +34.6% |
| Gross operating margin | 9900 | -€40,967 | -€1,859 | +€39,108 | +95.5% |
| Operating profit (loss) | 9901 | -€44,117 | -€10,431 | +€33,687 | +76.4% |
| Financial income | 75/76B | €129 | €248 | +€119 | +91.9% |
| Recurring financial income | 75 | €129 | €248 | +€119 | +91.9% |
| Financial charges | 65/66B | €160 | €1,669 | +€1,509 | +945% |
| Recurring financial charges | 65 | €160 | €1,669 | +€1,509 | +945% |
| Profit (loss) for the period before taxes | 9903 | -€44,148 | -€11,852 | +€32,296 | +73.2% |
| Income taxes | 67/77 | €135 | - | -€135 | |
| Profit (loss) for the period | 9904 | -€44,283 | -€11,852 | +€32,431 | +73.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,283 | -€11,852 | +€32,431 | +73.2% |
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 31 October 2026 via checked.be.