HE Consulting Services: 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 Consulting Services
Largest movements
- Receivables within one year -€2.8m
down €2.8m (-99.9%), from €2.8m to €2,777
of which Other amounts receivable: -€2.8m
- Current investments +€2.2m
new in 2025: €2.2m
- Receivables after one year -€436,469
down €436,469 (-100%), from €436,469 to €0
- Cash +€232,939
up €232,939 (+46.5%), from €501,215 to €734,154
mainly Receivables within one year (+€2.8m) and Receivables after one year (+€436,469)
- Reserves -€656,918
down €656,918 (-19.7%), from €3.3m to €2.7m
- Tax, wage and social debts -€235,235
down €235,235 (-51.8%), from €454,001 to €218,766
of which Taxes: -€231,235
- Other debts +€88,464
up €88,464 (+4,756%), from €1,860 to €90,324
- Current portion of long-term debt -€50,678
no longer reported in 2025 (was €50,678)
- Gross operating margin -€800,111
down €800,111 (-78.4%), from €1.0m to €220,172
- Taxes -€280,995
down €280,995 (-76.9%), from €365,417 to €84,422
- Financial income -€41,425
down €41,425 (-30.9%), from €134,064 to €92,640
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 | €3,849,583 | €3,017,320 | -€832,263 | -21.6% |
| Fixed assets | 21/28 | €53,075 | €40,702 | -€12,373 | -23.3% |
| Tangible fixed assets | 22/27 | €53,075 | €40,702 | -€12,373 | -23.3% |
| Furniture and vehicles | 24 | €53,075 | €40,702 | -€12,373 | -23.3% |
| Current assets | 29/58 | €3,796,508 | €2,976,618 | -€819,890 | -21.6% |
| Amounts receivable after more than one year | 29 | €436,469 | €0 | -€436,469 | -100% |
| Other amounts receivable | 291 | €436,469 | €0 | -€436,469 | -100% |
| Amounts receivable within one year | 40/41 | €2,843,031 | €2,777 | -€2.8m | -99.9% |
| Trade receivables | 40 | - | €2,777 | +€2,777 | |
| Other amounts receivable | 41 | €2,843,031 | €0 | -€2.8m | -100% |
| Current investments | 50/53 | - | €2,239,687 | +€2.2m | |
| Cash at bank and in hand | 54/58 | €501,215 | €734,154 | +€232,939 | +46.5% |
| Deferred charges and accrued income | 490/1 | €15,793 | - | -€15,793 | |
| Total equity and liabilities | 10/49 | €3,849,583 | €3,017,320 | -€832,263 | -21.6% |
| Equity | 10/15 | €3,339,199 | €2,682,281 | -€656,918 | -19.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €3,326,799 | €2,669,881 | -€656,918 | -19.7% |
| Distributable reserves | 133 | €3,326,799 | €2,669,881 | -€656,918 | -19.7% |
| Amounts payable | 17/49 | €510,385 | €335,039 | -€175,346 | -34.4% |
| Amounts payable within one year | 42/48 | €510,385 | €335,039 | -€175,346 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €50,678 | - | -€50,678 | |
| Financial debts | 43 | - | €25,234 | +€25,234 | |
| Credit institutions | 430/8 | - | €25,234 | +€25,234 | |
| Trade debts | 44 | €3,846 | €715 | -€3,131 | -81.4% |
| Suppliers | 440/4 | €3,846 | €715 | -€3,131 | -81.4% |
| Taxes, remuneration and social security | 45 | €454,001 | €218,766 | -€235,235 | -51.8% |
| Taxes | 450/3 | €450,001 | €218,766 | -€231,235 | -51.4% |
| Remuneration and social security | 454/9 | €4,000 | - | -€4,000 | |
| Other amounts payable | 47/48 | €1,860 | €90,324 | +€88,464 | +4,756% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,790 | €12,373 | +€3,583 | +40.8% |
| Other operating charges | 640/8 | €4,721 | €5,083 | +€362 | +7.7% |
| Gross operating margin | 9900 | €1,020,283 | €220,172 | -€800,111 | -78.4% |
| Operating profit (loss) | 9901 | €1,006,772 | €202,716 | -€804,056 | -79.9% |
| Financial income | 75/76B | €134,064 | €92,640 | -€41,425 | -30.9% |
| Recurring financial income | 75 | €134,064 | €92,640 | -€41,425 | -30.9% |
| Financial charges | 65/66B | €4,461 | €8,125 | +€3,665 | +82.2% |
| Recurring financial charges | 65 | €4,461 | €8,125 | +€3,665 | +82.2% |
| Profit (loss) for the period before taxes | 9903 | €1,136,376 | €287,230 | -€849,146 | -74.7% |
| Income taxes | 67/77 | €365,417 | €84,422 | -€280,995 | -76.9% |
| Profit (loss) for the period | 9904 | €770,959 | €202,808 | -€568,151 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €770,959 | €202,808 | -€568,151 | -73.7% |
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 18 October 2026 via checked.be.