THE HANGAR: 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.
THE HANGAR
Largest movements
- Cash +€40,044
up €40,044 (+28.9%), from €138,507 to €178,551
mainly Other debts (+€69,263) and Net result for the year (+€47,214)
- Tangible fixed assets -€10,803
down €10,803 (-19.1%), from €56,557 to €45,754
of which Furniture and vehicles: -€8,804
- Receivables within one year +€3,546
up €3,546 (+224%), from €1,584 to €5,130
of which Trade receivables: +€3,535
- Other debts +€69,263
up €69,263 (+157%), from €44,240 to €113,503
- Profit (loss) carried forward -€28,049
down €28,049 (-27.1%), from €103,311 to €75,263
- Debts after one year -€10,262
down €10,262 (-69.9%), from €14,677 to €4,415
- Gross operating margin -€4,582
down €4,582 (-5.8%), from €79,135 to €74,553
- Depreciation +€4,453
up €4,453 (+50.6%), from €8,797 to €13,250
- Financial income +€1,014
up €1,014 (+1,683%), from €60 to €1,075
- Taxes -€977
down €977 (-7.1%), from €13,777 to €12,800
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 | €196,940 | €230,077 | +€33,138 | +16.8% |
| Fixed assets | 21/28 | €56,807 | €46,004 | -€10,803 | -19.0% |
| Tangible fixed assets | 22/27 | €56,557 | €45,754 | -€10,803 | -19.1% |
| Plant, machinery and equipment | 23 | €19,169 | €18,248 | -€922 | -4.8% |
| Furniture and vehicles | 24 | €31,019 | €22,215 | -€8,804 | -28.4% |
| Other tangible fixed assets | 26 | €6,369 | €5,292 | -€1,078 | -16.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €140,132 | €184,073 | +€43,941 | +31.4% |
| Amounts receivable within one year | 40/41 | €1,584 | €5,130 | +€3,546 | +224% |
| Trade receivables | 40 | €1,287 | €4,822 | +€3,535 | +275% |
| Other amounts receivable | 41 | €297 | €308 | +€11 | +3.8% |
| Cash at bank and in hand | 54/58 | €138,507 | €178,551 | +€40,044 | +28.9% |
| Deferred charges and accrued income | 490/1 | €42 | €393 | +€351 | +842% |
| Total equity and liabilities | 10/49 | €196,940 | €230,077 | +€33,138 | +16.8% |
| Equity | 10/15 | €105,811 | €77,763 | -€28,049 | -26.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,311 | €75,263 | -€28,049 | -27.1% |
| Amounts payable | 17/49 | €91,128 | €152,315 | +€61,186 | +67.1% |
| Amounts payable after more than one year | 17 | €14,677 | €4,415 | -€10,262 | -69.9% |
| Financial debts | 170/4 | €14,677 | €4,415 | -€10,262 | -69.9% |
| Amounts payable within one year | 42/48 | €76,452 | €147,899 | +€71,448 | +93.5% |
| Current portion of amounts payable after more than one year | 42 | €9,806 | €10,262 | +€456 | +4.6% |
| Trade debts | 44 | €1,362 | €1,761 | +€399 | +29.3% |
| Suppliers | 440/4 | €1,362 | €1,761 | +€399 | +29.3% |
| Taxes, remuneration and social security | 45 | €21,044 | €22,374 | +€1,330 | +6.3% |
| Taxes | 450/3 | €19,944 | €21,274 | +€1,330 | +6.7% |
| Remuneration and social security | 454/9 | €1,100 | €1,100 | = | 0.0% |
| Other amounts payable | 47/48 | €44,240 | €113,503 | +€69,263 | +157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,797 | €13,250 | +€4,453 | +50.6% |
| Other operating charges | 640/8 | €86 | €650 | +€564 | +657% |
| Gross operating margin | 9900 | €79,135 | €74,553 | -€4,582 | -5.8% |
| Operating profit (loss) | 9901 | €70,252 | €60,653 | -€9,598 | -13.7% |
| Financial income | 75/76B | €60 | €1,075 | +€1,014 | +1,683% |
| Recurring financial income | 75 | €60 | €1,075 | +€1,014 | +1,683% |
| Financial charges | 65/66B | €1,696 | €1,713 | +€18 | +1.0% |
| Recurring financial charges | 65 | €1,696 | €1,713 | +€18 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €68,616 | €60,015 | -€8,602 | -12.5% |
| Income taxes | 67/77 | €13,777 | €12,800 | -€977 | -7.1% |
| Profit (loss) for the period | 9904 | €54,839 | €47,214 | -€7,625 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,839 | €47,214 | -€7,625 | -13.9% |
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.