H.E.T.Project: what changed
H.E.T.Project
Largest movements
- Financial fixed assets +€194,137
new in 2026: €194,137
- Receivables within one year +€16,708
up €16,708 (+183%), from €9,154 to €25,862
of which Trade receivables: +€12,340
- Cash -€14,989
down €14,989 (-36.6%), from €40,974 to €25,985
mainly Investment in fixed assets (net) (-€194,137) and Receivables within one year (-€16,708)
- Debts after one year +€195,000
new in 2026: €195,000
- Tax, wage and social debts -€3,864
down €3,864 (-62.3%), from €6,203 to €2,339
of which Remuneration and social security: -€5,520
- Other debts +€3,523
up €3,523 (+392%), from €899 to €4,422
- Other operating charges +€456
up €456 (+37.7%), from €1,210 to €1,666
- Taxes -€350
down €350 (-10.6%), from €3,316 to €2,966
- Gross operating margin -€324
down €324 (-4.8%), from €6,744 to €6,420
Change in the result, 2025 to 2026
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 2025 and 2026 balance sheets and the 2026 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 | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,342 | €253,741 | +€194,399 | +328% |
| Fixed assets | 21/28 | €9,160 | €201,893 | +€192,733 | +2,104% |
| Tangible fixed assets | 22/27 | €9,160 | €7,756 | -€1,404 | -15.3% |
| Land and buildings | 22 | €9,160 | €7,756 | -€1,404 | -15.3% |
| Financial fixed assets | 28 | - | €194,137 | +€194,137 | |
| Current assets | 29/58 | €50,182 | €51,847 | +€1,666 | +3.3% |
| Amounts receivable within one year | 40/41 | €9,154 | €25,862 | +€16,708 | +183% |
| Trade receivables | 40 | €8,470 | €20,810 | +€12,340 | +146% |
| Other amounts receivable | 41 | €684 | €5,052 | +€4,368 | +638% |
| Cash at bank and in hand | 54/58 | €40,974 | €25,985 | -€14,989 | -36.6% |
| Deferred charges and accrued income | 490/1 | €53 | - | -€53 | |
| Total equity and liabilities | 10/49 | €59,342 | €253,741 | +€194,399 | +328% |
| Equity | 10/15 | €50,924 | €51,217 | +€293 | +0.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €48,000 | €48,000 | = | 0.0% |
| Distributable reserves | 133 | €48,000 | €48,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €924 | €1,217 | +€293 | +31.7% |
| Amounts payable | 17/49 | €8,418 | €202,523 | +€194,106 | +2,306% |
| Amounts payable after more than one year | 17 | - | €195,000 | +€195,000 | |
| Financial debts | 170/4 | - | €195,000 | +€195,000 | |
| Amounts payable within one year | 42/48 | €7,738 | €7,523 | -€215 | -2.8% |
| Trade debts | 44 | €636 | €763 | +€126 | +19.9% |
| Suppliers | 440/4 | €636 | €763 | +€126 | +19.9% |
| Taxes, remuneration and social security | 45 | €6,203 | €2,339 | -€3,864 | -62.3% |
| Taxes | 450/3 | €593 | €2,249 | +€1,656 | +279% |
| Remuneration and social security | 454/9 | €5,610 | €90 | -€5,520 | -98.4% |
| Other amounts payable | 47/48 | €899 | €4,422 | +€3,523 | +392% |
| Accrued charges and deferred income | 492/3 | €679 | - | -€679 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,404 | €1,404 | = | 0.0% |
| Other operating charges | 640/8 | €1,210 | €1,666 | +€456 | +37.7% |
| Gross operating margin | 9900 | €6,744 | €6,420 | -€324 | -4.8% |
| Operating profit (loss) | 9901 | €4,131 | €3,350 | -€780 | -18.9% |
| Financial charges | 65/66B | €90 | €91 | +€1 | +1.2% |
| Recurring financial charges | 65 | €90 | €91 | +€1 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €4,041 | €3,259 | -€782 | -19.3% |
| Income taxes | 67/77 | €3,316 | €2,966 | -€350 | -10.6% |
| Profit (loss) for the period | 9904 | €725 | €293 | -€432 | -59.6% |
| Profit (loss) for the period to be appropriated | 9905 | €725 | €293 | -€432 | -59.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.