2B HEDO: 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.
2B HEDO
Largest movements
- Cash +€22,636
up €22,636 (+24.4%), from €92,949 to €115,585
mainly Net result for the year (+€36,304) and Tax, wage and social debts (+€22,120)
- Receivables within one year +€16,286
up €16,286 (+6499.1%), from €251 to €16,537
of which Trade receivables: +€16,537
- Tangible fixed assets -€12,069
down €12,069 (-26.7%), from €45,248 to €33,179
of which Furniture and vehicles: -€7,930
- Intangible fixed assets +€8,975
new in 2025: €8,975
- Deferred charges and accrued income +€6,593
new in 2025: €6,593
- Trade debts -€31,141
down €31,141 (-60.6%), from €51,376 to €20,234
- Tax, wage and social debts +€22,120
up €22,120 (+78.1%), from €28,322 to €50,443
of which Taxes: +€27,156
- Profit (loss) carried forward +€19,991
no longer reported in 2025 (was -€19,991)
- Reserves +€16,313
up €16,313 (+3412.7%), from €478 to €16,791
of which Distributable reserves: +€16,313
- Other debts +€14,294
up €14,294 (+71.9%), from €19,873 to €34,167
- Turnover -€435,262
no longer reported in 2025 (was €435,262)
- Purchases and services -€351,658
no longer reported in 2025 (was €351,658)
- Gross operating margin +€82,788
up €82,788 (+84.4%), from €98,095 to €180,883
- Taxes +€31,060
up €31,060, from -€13,146 to €17,914
- Staff costs +€30,828
up €30,828 (+44.5%), from €69,208 to €100,037
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 | €142,058 | €184,479 | +€42,421 | +29.9% |
| Fixed assets | 21/28 | €45,248 | €42,155 | -€3,094 | -6.8% |
| Intangible fixed assets | 21 | - | €8,975 | +€8,975 | |
| Tangible fixed assets | 22/27 | €45,248 | €33,179 | -€12,069 | -26.7% |
| Land and buildings | 22 | €366 | - | -€366 | |
| Plant, machinery and equipment | 23 | €19,197 | €15,424 | -€3,773 | -19.7% |
| Furniture and vehicles | 24 | €25,685 | €17,755 | -€7,930 | -30.9% |
| Current assets | 29/58 | €96,809 | €142,324 | +€45,515 | +47.0% |
| Stocks and contracts in progress | 3 | €3,610 | €3,610 | = | 0.0% |
| Stocks | 30/36 | €3,610 | €3,610 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €251 | €16,537 | +€16,286 | +6499.1% |
| Trade receivables | 40 | - | €16,537 | +€16,537 | |
| Other amounts receivable | 41 | €251 | - | -€251 | |
| Cash at bank and in hand | 54/58 | €92,949 | €115,585 | +€22,636 | +24.4% |
| Deferred charges and accrued income | 490/1 | - | €6,593 | +€6,593 | |
| Total equity and liabilities | 10/49 | €142,058 | €184,479 | +€42,421 | +29.9% |
| Equity | 10/15 | €42,487 | €78,791 | +€36,304 | +85.4% |
| 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 | €478 | €16,791 | +€16,313 | +3412.7% |
| Non-distributable reserves | 130/1 | €478 | €478 | = | 0.0% |
| Legal reserve | 130 | €478 | €478 | = | 0.0% |
| Distributable reserves | 133 | - | €16,313 | +€16,313 | |
| Profit (loss) carried forward | 14 | -€19,991 | - | +€19,991 | |
| Amounts payable | 17/49 | €99,571 | €105,688 | +€6,117 | +6.1% |
| Amounts payable within one year | 42/48 | €99,571 | €104,844 | +€5,273 | +5.3% |
| Trade debts | 44 | €51,376 | €20,234 | -€31,141 | -60.6% |
| Suppliers | 440/4 | €51,376 | €20,234 | -€31,141 | -60.6% |
| Taxes, remuneration and social security | 45 | €28,322 | €50,443 | +€22,120 | +78.1% |
| Taxes | 450/3 | €11,874 | €39,030 | +€27,156 | +228.7% |
| Remuneration and social security | 454/9 | €16,448 | €11,412 | -€5,036 | -30.6% |
| Other amounts payable | 47/48 | €19,873 | €34,167 | +€14,294 | +71.9% |
| Accrued charges and deferred income | 492/3 | - | €844 | +€844 | |
| Turnover | 70 | €435,262 | - | -€435,262 | |
| Goods, raw materials, services and sundry goods | 60/61 | €351,658 | - | -€351,658 | |
| Remuneration, social security and pensions | 62 | €69,208 | €100,037 | +€30,828 | +44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,924 | €19,604 | +€4,680 | +31.4% |
| Other operating charges | 640/8 | €9,610 | €3,560 | -€6,050 | -63.0% |
| Gross operating margin | 9900 | €98,095 | €180,883 | +€82,788 | +84.4% |
| Operating profit (loss) | 9901 | €4,353 | €57,682 | +€53,329 | +1225.2% |
| Financial charges | 65/66B | €330 | €3,465 | +€3,135 | +951.3% |
| Recurring financial charges | 65 | €330 | €3,465 | +€3,135 | +951.3% |
| Profit (loss) for the period before taxes | 9903 | €4,023 | €54,218 | +€50,194 | +1247.6% |
| Income taxes | 67/77 | -€13,146 | €17,914 | +€31,060 | |
| Profit (loss) for the period | 9904 | €17,169 | €36,304 | +€19,135 | +111.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,169 | €36,304 | +€19,135 | +111.4% |
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 4 October 2026 via checked.be.