HAMESU: what changed
HAMESU
Largest movements
- Tangible fixed assets -€174,822
down €174,822 (-23.5%), from €743,393 to €568,571
of which Land and buildings: -€155,089
- Current investments +€115,539
up €115,539 (+241%), from €48,001 to €163,540
- Cash +€102,440
up €102,440 (+86.9%), from €117,840 to €220,280
mainly Net result for the year (+€177,963) and Investment in fixed assets (net) (+€132,012)
- Receivables within one year +€30,479
up €30,479 (+19.8%), from €153,841 to €184,320
of which Other amounts receivable: +€15,475
- Reserves +€177,963
up €177,963 (+21.4%), from €830,519 to €1.0m
of which Distributable reserves: +€177,963
- Current portion of long-term debt -€56,336
down €56,336 (-48.7%), from €115,701 to €59,366
- Debts after one year -€54,764
down €54,764 (-61.1%), from €89,574 to €34,810
- Trade debts +€12,174
up €12,174 (+61.6%), from €19,777 to €31,951
- Gross operating margin -€46,550
down €46,550 (-10.9%), from €427,343 to €380,794
- Staff costs -€33,583
down €33,583 (-33.9%), from €99,130 to €65,546
- Other operating charges -€4,386
down €4,386 (-27.8%), from €15,769 to €11,383
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,117,710 | €1,191,346 | +€73,635 | +6.6% |
| Fixed assets | 21/28 | €798,029 | €623,206 | -€174,822 | -21.9% |
| Tangible fixed assets | 22/27 | €743,393 | €568,571 | -€174,822 | -23.5% |
| Land and buildings | 22 | €616,912 | €461,823 | -€155,089 | -25.1% |
| Furniture and vehicles | 24 | €45,001 | €38,047 | -€6,954 | -15.5% |
| Other tangible fixed assets | 26 | €81,480 | €68,701 | -€12,780 | -15.7% |
| Financial fixed assets | 28 | €54,636 | €54,636 | = | 0.0% |
| Current assets | 29/58 | €319,682 | €568,139 | +€248,458 | +77.7% |
| Amounts receivable within one year | 40/41 | €153,841 | €184,320 | +€30,479 | +19.8% |
| Trade receivables | 40 | €63,710 | €78,714 | +€15,004 | +23.6% |
| Other amounts receivable | 41 | €90,131 | €105,606 | +€15,475 | +17.2% |
| Current investments | 50/53 | €48,001 | €163,540 | +€115,539 | +241% |
| Cash at bank and in hand | 54/58 | €117,840 | €220,280 | +€102,440 | +86.9% |
| Total equity and liabilities | 10/49 | €1,117,710 | €1,191,346 | +€73,635 | +6.6% |
| Equity | 10/15 | €842,919 | €1,020,882 | +€177,963 | +21.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €830,519 | €1,008,482 | +€177,963 | +21.4% |
| Non-distributable reserves | 130/1 | €11,760 | €11,760 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,760 | €11,760 | = | 0.0% |
| Distributable reserves | 133 | €818,759 | €996,722 | +€177,963 | +21.7% |
| Amounts payable | 17/49 | €274,791 | €170,464 | -€104,327 | -38.0% |
| Amounts payable after more than one year | 17 | €89,574 | €34,810 | -€54,764 | -61.1% |
| Financial debts | 170/4 | €89,574 | €34,810 | -€54,764 | -61.1% |
| Amounts payable within one year | 42/48 | €179,126 | €129,563 | -€49,563 | -27.7% |
| Current portion of amounts payable after more than one year | 42 | €115,701 | €59,366 | -€56,336 | -48.7% |
| Trade debts | 44 | €19,777 | €31,951 | +€12,174 | +61.6% |
| Suppliers | 440/4 | €19,777 | €31,951 | +€12,174 | +61.6% |
| Taxes, remuneration and social security | 45 | €43,648 | €38,247 | -€5,401 | -12.4% |
| Taxes | 450/3 | €35,623 | €26,659 | -€8,964 | -25.2% |
| Remuneration and social security | 454/9 | €8,025 | €11,587 | +€3,563 | +44.4% |
| Accrued charges and deferred income | 492/3 | €6,091 | €6,091 | = | 0.0% |
| Non-recurring operating income | 76A | €96,728 | €117,504 | +€20,777 | +21.5% |
| Remuneration, social security and pensions | 62 | €99,130 | €65,546 | -€33,583 | -33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,315 | €42,810 | +€2,495 | +6.2% |
| Other operating charges | 640/8 | €15,769 | €11,383 | -€4,386 | -27.8% |
| Gross operating margin | 9900 | €427,343 | €380,794 | -€46,550 | -10.9% |
| Operating profit (loss) | 9901 | €272,130 | €261,054 | -€11,076 | -4.1% |
| Financial income | 75/76B | €2,084 | €2,379 | +€295 | +14.1% |
| Recurring financial income | 75 | €2,084 | €2,379 | +€295 | +14.1% |
| Financial charges | 65/66B | €9,224 | €6,787 | -€2,437 | -26.4% |
| Recurring financial charges | 65 | €9,224 | €6,787 | -€2,437 | -26.4% |
| Profit (loss) for the period before taxes | 9903 | €264,990 | €256,646 | -€8,345 | -3.1% |
| Income taxes | 67/77 | €80,888 | €78,683 | -€2,205 | -2.7% |
| Profit (loss) for the period | 9904 | €184,102 | €177,963 | -€6,139 | -3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €184,102 | €177,963 | -€6,139 | -3.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.