HECAJAC: 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.
What changed
HECAJAC
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€164,142
2024 · €93,139+€71,003
Equity
€3.1m
2024 · €2.9m+€164,142
Cash
€955,135
2024 · €656,087+€299,048
Balance sheet total
€3.6m
2024 · €3.4m+€193,286
Largest movements
Assets
- Cash +€299,048
up €299,048 (+45.6%), from €656,087 to €955,135
mainly Net result for the year (+€164,142) and Depreciation (+€136,607)
- Tangible fixed assets -€115,281
down €115,281 (-5.6%), from €2.1m to €2.0m
Equity and liabilities
- Profit (loss) carried forward +€164,142
up €164,142 (+8.2%), from €2.0m to €2.2m
Income statement
- Gross operating margin +€84,265
up €84,265 (+28.4%), from €296,310 to €380,575
- Depreciation -€10,534
down €10,534 (-7.2%), from €147,141 to €136,607
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.
Result 2024
€93,139
Gross operating margin
+€84,265
Staff costs
-€166
Depreciation
+€10,534
Other operating charges
+€679
Other operating items
-€30,759
Financial income
+€2,956
Financial charges
+€243
Taxes
+€3,251
Result 2025
€164,142
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€320,374
Investment
-€21,326
Financing
€0
Cash 2024
€656,087
From operations (derived)
+€320,374
Net result for the year
+€164,142
Depreciation
+€136,607
Stocks and contracts
+€3,621
Receivables within one year
-€11,251
Deferred charges and accrued income
-€1,889
Trade debts
+€6,748
Tax, wage and social debts
+€20,081
Other debts
+€2,315
Investment (derived)
-€21,326
Investment in fixed assets (net)
-€21,326
Cash 2025
€955,135
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,433,173 | €3,626,459 | +€193,286 | +5.6% |
| Fixed assets | 21/28 | €2,444,388 | €2,329,107 | -€115,281 | -4.7% |
| Tangible fixed assets | 22/27 | €2,066,660 | €1,951,379 | -€115,281 | -5.6% |
| Land and buildings | 22 | €2,066,660 | €1,951,379 | -€115,281 | -5.6% |
| Financial fixed assets | 28 | €377,728 | €377,728 | = | 0.0% |
| Current assets | 29/58 | €988,785 | €1,297,352 | +€308,567 | +31.2% |
| Stocks and contracts in progress | 3 | €304,104 | €300,483 | -€3,621 | -1.2% |
| Stocks | 30/36 | €304,104 | €300,483 | -€3,621 | -1.2% |
| Amounts receivable within one year | 40/41 | €21,665 | €32,916 | +€11,251 | +51.9% |
| Other amounts receivable | 41 | €21,665 | €32,916 | +€11,251 | +51.9% |
| Cash at bank and in hand | 54/58 | €656,087 | €955,135 | +€299,048 | +45.6% |
| Deferred charges and accrued income | 490/1 | €6,929 | €8,818 | +€1,889 | +27.3% |
| Total equity and liabilities | 10/49 | €3,433,173 | €3,626,459 | +€193,286 | +5.6% |
| Equity | 10/15 | €2,944,807 | €3,108,949 | +€164,142 | +5.6% |
| Contributions | 10/11 | €937,483 | €937,483 | = | 0.0% |
| Capital | 10 | €937,483 | €937,483 | = | 0.0% |
| Issued capital | 100 | €937,483 | €937,483 | = | 0.0% |
| Reserves | 13 | €7,402 | €7,402 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,402 | €7,402 | = | 0.0% |
| Legal reserve | 130 | €7,402 | €7,402 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,999,922 | €2,164,064 | +€164,142 | +8.2% |
| Amounts payable | 17/49 | €488,366 | €517,510 | +€29,144 | +6.0% |
| Amounts payable within one year | 42/48 | €488,366 | €517,510 | +€29,144 | +6.0% |
| Trade debts | 44 | €2,635 | €9,383 | +€6,748 | +256% |
| Suppliers | 440/4 | €2,635 | €9,383 | +€6,748 | +256% |
| Taxes, remuneration and social security | 45 | €11,926 | €32,007 | +€20,081 | +168% |
| Remuneration and social security | 454/9 | €11,926 | €32,007 | +€20,081 | +168% |
| Other amounts payable | 47/48 | €473,805 | €476,120 | +€2,315 | +0.5% |
| Remuneration, social security and pensions | 62 | €34,905 | €35,071 | +€166 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,141 | €136,607 | -€10,534 | -7.2% |
| Other operating charges | 640/8 | €16,136 | €15,457 | -€679 | -4.2% |
| Non-recurring operating charges | 66A | - | €30,759 | +€30,759 | |
| Gross operating margin | 9900 | €296,310 | €380,575 | +€84,265 | +28.4% |
| Operating profit (loss) | 9901 | €98,128 | €162,681 | +€64,553 | +65.8% |
| Financial income | 75/76B | €15,120 | €18,076 | +€2,956 | +19.6% |
| Recurring financial income | 75 | €15,120 | €18,076 | +€2,956 | +19.6% |
| Financial charges | 65/66B | €690 | €447 | -€243 | -35.2% |
| Recurring financial charges | 65 | €690 | €447 | -€243 | -35.2% |
| Profit (loss) for the period before taxes | 9903 | €112,558 | €180,310 | +€67,752 | +60.2% |
| Income taxes | 67/77 | €19,419 | €16,168 | -€3,251 | -16.7% |
| Profit (loss) for the period | 9904 | €93,139 | €164,142 | +€71,003 | +76.2% |
| Profit (loss) for the period to be appropriated | 9905 | €93,139 | €164,142 | +€71,003 | +76.2% |
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 15 October 2026 via checked.be.