HE: 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.
HE
Largest movements
- Receivables within one year +€113,285
up €113,285 (+28.3%), from €399,935 to €513,219
of which Other amounts receivable: +€112,654
- Cash -€93,716
down €93,716 (-84.7%), from €110,621 to €16,905
mainly Receivables within one year (-€113,285) and Accrued charges and deferred income (-€57,691)
- Financial fixed assets -€17,360
down €17,360 (-100%), from €17,360 to €0
- Tangible fixed assets -€5,934
down €5,934 (-41.4%), from €14,317 to €8,383
of which Plant, machinery and equipment: -€4,454
- Accrued charges and deferred income -€57,691
down €57,691 (-100%), from €57,691 to €0
- Trade debts +€23,220
up €23,220 (+46.3%), from €50,175 to €73,395
- Reserves +€20,533
up €20,533 (+6.3%), from €324,117 to €344,650
of which Distributable reserves: +€20,533
- Tax, wage and social debts +€12,033
up €12,033 (+13.6%), from €88,524 to €100,557
of which Remuneration and social security: +€19,136
- Other debts +€11,300
new in 2024: €11,300
- Gross operating margin -€149,276
down €149,276 (-43.5%), from €343,513 to €194,237
- Taxes -€49,039
down €49,039 (-74.9%), from €65,479 to €16,440
- Financial income +€17,325
up €17,325 (+202%), from €8,598 to €25,923
- Staff costs +€5,332
up €5,332 (+3.4%), from €156,173 to €161,505
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €549,594 | €548,231 | -€1,363 | -0.2% |
| Fixed assets | 21/28 | €31,677 | €8,383 | -€23,294 | -73.5% |
| Tangible fixed assets | 22/27 | €14,317 | €8,383 | -€5,934 | -41.4% |
| Land and buildings | 22 | €2,600 | €2,094 | -€506 | -19.4% |
| Plant, machinery and equipment | 23 | €10,742 | €6,289 | -€4,454 | -41.5% |
| Furniture and vehicles | 24 | €974 | €0 | -€974 | -100% |
| Financial fixed assets | 28 | €17,360 | €0 | -€17,360 | -100% |
| Current assets | 29/58 | €517,917 | €539,848 | +€21,931 | +4.2% |
| Stocks and contracts in progress | 3 | €6,740 | €9,517 | +€2,778 | +41.2% |
| Stocks | 30/36 | €6,740 | €9,517 | +€2,778 | +41.2% |
| Amounts receivable within one year | 40/41 | €399,935 | €513,219 | +€113,285 | +28.3% |
| Trade receivables | 40 | €949 | €1,580 | +€631 | +66.5% |
| Other amounts receivable | 41 | €398,986 | €511,640 | +€112,654 | +28.2% |
| Cash at bank and in hand | 54/58 | €110,621 | €16,905 | -€93,716 | -84.7% |
| Deferred charges and accrued income | 490/1 | €622 | €207 | -€415 | -66.8% |
| Total equity and liabilities | 10/49 | €549,594 | €548,231 | -€1,363 | -0.2% |
| Equity | 10/15 | €342,447 | €362,980 | +€20,533 | +6.0% |
| Contributions | 10/11 | €18,330 | €18,330 | = | 0.0% |
| Reserves | 13 | €324,117 | €344,650 | +€20,533 | +6.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €324,117 | €344,650 | +€20,533 | +6.3% |
| Amounts payable | 17/49 | €207,147 | €185,252 | -€21,895 | -10.6% |
| Amounts payable within one year | 42/48 | €149,456 | €185,252 | +€35,796 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €10,757 | €0 | -€10,757 | -100% |
| Trade debts | 44 | €50,175 | €73,395 | +€23,220 | +46.3% |
| Suppliers | 440/4 | €50,175 | €73,395 | +€23,220 | +46.3% |
| Taxes, remuneration and social security | 45 | €88,524 | €100,557 | +€12,033 | +13.6% |
| Taxes | 450/3 | €62,903 | €55,800 | -€7,103 | -11.3% |
| Remuneration and social security | 454/9 | €25,620 | €44,757 | +€19,136 | +74.7% |
| Other amounts payable | 47/48 | - | €11,300 | +€11,300 | |
| Accrued charges and deferred income | 492/3 | €57,691 | €0 | -€57,691 | -100% |
| Remuneration, social security and pensions | 62 | €156,173 | €161,505 | +€5,332 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,292 | €5,934 | -€2,358 | -28.4% |
| Other operating charges | 640/8 | €11,879 | €8,603 | -€3,276 | -27.6% |
| Non-recurring operating charges | 66A | €0 | €1,491 | +€1,491 | |
| Gross operating margin | 9900 | €343,513 | €194,237 | -€149,276 | -43.5% |
| Operating profit (loss) | 9901 | €167,169 | €16,704 | -€150,465 | -90.0% |
| Financial income | 75/76B | €8,598 | €25,923 | +€17,325 | +202% |
| Recurring financial income | 75 | €8,598 | €25,923 | +€17,325 | +202% |
| Financial charges | 65/66B | €4,972 | €5,654 | +€682 | +13.7% |
| Recurring financial charges | 65 | €4,972 | €5,654 | +€682 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €170,795 | €36,973 | -€133,822 | -78.4% |
| Income taxes | 67/77 | €65,479 | €16,440 | -€49,039 | -74.9% |
| Profit (loss) for the period | 9904 | €105,316 | €20,533 | -€84,783 | -80.5% |
| Profit (loss) for the period to be appropriated | 9905 | €105,316 | €20,533 | -€84,783 | -80.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.