HAMASA: 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.
HAMASA
Largest movements
- Stocks and contracts +€22,870
new in 2025: €22,870
- Receivables within one year +€10,405
up €10,405 (+490%), from €2,123 to €12,528
of which Other amounts receivable: +€10,415
- Tangible fixed assets +€6,988
up €6,988 (+40.1%), from €17,440 to €24,428
of which Land and buildings: +€6,717
- Other debts +€62,585
up €62,585 (+1,798%), from €3,481 to €66,067
- Trade debts -€15,876
down €15,876 (-69.2%), from €22,930 to €7,055
- Tax, wage and social debts +€11,793
up €11,793 (+2,027%), from €582 to €12,375
of which Remuneration and social security: +€11,859
- Profit (loss) carried forward -€10,452
down €10,452 (-63.9%), from -€16,352 to -€26,804
- Current portion of long-term debt -€7,945
no longer reported in 2025 (was €7,945)
- Purchases and services -€902,953
no longer reported in 2025 (was €902,953)
- Gross operating margin +€11,464
up €11,464 (+15.0%), from €76,568 to €88,032
- Financial charges +€6,689
up €6,689 (+8.2%), from €81,111 to €87,800
- Staff costs +€1,336
up €1,336 (+31.2%), from €4,283 to €5,619
- Other operating charges +€1,299
up €1,299 (+137%), from €948 to €2,248
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 | €20,086 | €60,192 | +€40,106 | +200% |
| Fixed assets | 21/28 | €17,440 | €24,428 | +€6,988 | +40.1% |
| Tangible fixed assets | 22/27 | €17,440 | €24,428 | +€6,988 | +40.1% |
| Land and buildings | 22 | €387 | €7,104 | +€6,717 | +1,734% |
| Plant, machinery and equipment | 23 | €15,072 | €13,867 | -€1,204 | -8.0% |
| Furniture and vehicles | 24 | €1,981 | €3,456 | +€1,475 | +74.5% |
| Current assets | 29/58 | €2,646 | €35,764 | +€33,118 | +1,252% |
| Stocks and contracts in progress | 3 | - | €22,870 | +€22,870 | |
| Stocks | 30/36 | - | €22,870 | +€22,870 | |
| Amounts receivable within one year | 40/41 | €2,123 | €12,528 | +€10,405 | +490% |
| Trade receivables | 40 | €10 | - | -€10 | |
| Other amounts receivable | 41 | €2,113 | €12,528 | +€10,415 | +493% |
| Cash at bank and in hand | 54/58 | €523 | €366 | -€156 | -29.9% |
| Total equity and liabilities | 10/49 | €20,086 | €60,192 | +€40,106 | +200% |
| Equity | 10/15 | -€14,852 | -€25,304 | -€10,452 | -70.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Capital | 10 | €1,500 | €1,500 | = | 0.0% |
| Issued capital | 100 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,352 | -€26,804 | -€10,452 | -63.9% |
| Amounts payable | 17/49 | €34,938 | €85,496 | +€50,558 | +145% |
| Amounts payable within one year | 42/48 | €34,938 | €85,496 | +€50,558 | +145% |
| Current portion of amounts payable after more than one year | 42 | €7,945 | - | -€7,945 | |
| Trade debts | 44 | €22,930 | €7,055 | -€15,876 | -69.2% |
| Suppliers | 440/4 | €22,930 | €7,055 | -€15,876 | -69.2% |
| Taxes, remuneration and social security | 45 | €582 | €12,375 | +€11,793 | +2,027% |
| Taxes | 450/3 | €582 | €515 | -€67 | -11.4% |
| Remuneration and social security | 454/9 | - | €11,859 | +€11,859 | |
| Other amounts payable | 47/48 | €3,481 | €66,067 | +€62,585 | +1,798% |
| Goods, raw materials, services and sundry goods | 60/61 | €902,953 | - | -€902,953 | |
| Remuneration, social security and pensions | 62 | €4,283 | €5,619 | +€1,336 | +31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,756 | €2,275 | +€519 | +29.6% |
| Other operating charges | 640/8 | €948 | €2,248 | +€1,299 | +137% |
| Non-recurring operating charges | 66A | €860 | €542 | -€318 | -37.0% |
| Gross operating margin | 9900 | €76,568 | €88,032 | +€11,464 | +15.0% |
| Operating profit (loss) | 9901 | €68,721 | €77,348 | +€8,627 | +12.6% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €81,111 | €87,800 | +€6,689 | +8.2% |
| Recurring financial charges | 65 | €81,111 | €87,800 | +€6,689 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | -€12,389 | -€10,452 | +€1,937 | +15.6% |
| Profit (loss) for the period | 9904 | -€12,389 | -€10,452 | +€1,937 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,389 | -€10,452 | +€1,937 | +15.6% |
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 21 October 2026 via checked.be.