HEC CONSULTING: 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.
HEC CONSULTING
Largest movements
- Receivables within one year -€12,004
down €12,004 (-35.5%), from €33,794 to €21,790
of which Trade receivables: -€11,980
- Cash +€6,092
up €6,092 (+9.2%), from €66,170 to €72,261
mainly Receivables within one year (+€12,004) and Net result for the year (+€1,712)
- Intangible fixed assets +€4,560
new in 2026: €4,560
- Tangible fixed assets -€3,000
no longer reported in 2026 (was €3,000)
- Accrued charges and deferred income -€5,641
down €5,641 (-68.6%), from €8,219 to €2,578
- Profit (loss) carried forward +€1,712
up €1,712 (+3.1%), from €54,668 to €56,380
- Contributions -€1,221
down €1,221 (-6.7%), from €18,209 to €16,988
- Gross operating margin +€2,314
up €2,314 (+46.9%), from €4,939 to €7,254
- Depreciation +€1,520
new in 2026: €1,520
- Other operating charges +€1,482
up €1,482 (+674%), from €220 to €1,702
- Taxes +€219
up €219 (+10.5%), from €2,080 to €2,299
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €102,963 | €98,611 | -€4,352 | -4.2% |
| Fixed assets | 21/28 | €3,000 | €4,560 | +€1,560 | +52.0% |
| Intangible fixed assets | 21 | - | €4,560 | +€4,560 | |
| Tangible fixed assets | 22/27 | €3,000 | - | -€3,000 | |
| Assets under construction and advance payments | 27 | €3,000 | - | -€3,000 | |
| Current assets | 29/58 | €99,963 | €94,051 | -€5,912 | -5.9% |
| Amounts receivable within one year | 40/41 | €33,794 | €21,790 | -€12,004 | -35.5% |
| Trade receivables | 40 | €28,513 | €16,533 | -€11,980 | -42.0% |
| Other amounts receivable | 41 | €5,281 | €5,257 | -€24 | -0.5% |
| Cash at bank and in hand | 54/58 | €66,170 | €72,261 | +€6,092 | +9.2% |
| Total equity and liabilities | 10/49 | €102,963 | €98,611 | -€4,352 | -4.2% |
| Equity | 10/15 | €91,693 | €92,184 | +€490 | +0.5% |
| Contributions | 10/11 | €18,209 | €16,988 | -€1,221 | -6.7% |
| Reserves | 13 | €18,816 | €18,816 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,623 | €1,623 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,623 | €1,623 | = | 0.0% |
| Distributable reserves | 133 | €17,193 | €17,193 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,668 | €56,380 | +€1,712 | +3.1% |
| Amounts payable | 17/49 | €11,270 | €6,427 | -€4,843 | -43.0% |
| Amounts payable within one year | 42/48 | €3,052 | €3,849 | +€798 | +26.1% |
| Trade debts | 44 | €982 | €1,249 | +€268 | +27.3% |
| Suppliers | 440/4 | €982 | €1,249 | +€268 | +27.3% |
| Taxes, remuneration and social security | 45 | €2,070 | €2,600 | +€530 | +25.6% |
| Taxes | 450/3 | €2,070 | €2,600 | +€530 | +25.6% |
| Accrued charges and deferred income | 492/3 | €8,219 | €2,578 | -€5,641 | -68.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,520 | +€1,520 | |
| Other operating charges | 640/8 | €220 | €1,702 | +€1,482 | +674% |
| Gross operating margin | 9900 | €4,939 | €7,254 | +€2,314 | +46.9% |
| Operating profit (loss) | 9901 | €4,719 | €4,031 | -€688 | -14.6% |
| Financial charges | 65/66B | €56 | €21 | -€35 | -62.4% |
| Recurring financial charges | 65 | €56 | €21 | -€35 | -62.4% |
| Profit (loss) for the period before taxes | 9903 | €4,663 | €4,010 | -€653 | -14.0% |
| Income taxes | 67/77 | €2,080 | €2,299 | +€219 | +10.5% |
| Profit (loss) for the period | 9904 | €2,584 | €1,712 | -€872 | -33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,584 | €1,712 | -€872 | -33.8% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.