Hecas: 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.
Hecas
Largest movements
- Receivables within one year +€43,901
up €43,901 (+151%), from €29,099 to €73,000
of which Trade receivables: +€51,881
- Cash -€27,965
down €27,965 (-96.7%), from €28,908 to €943
mainly Receivables within one year (-€43,901) and Net result for the year (-€25,635)
- Stocks and contracts -€7,583
down €7,583 (-100%), from €7,583 to €0
- Deferred charges and accrued income +€7,105
up €7,105 (+311%), from €2,285 to €9,390
- Tangible fixed assets -€2,011
down €2,011 (-44.1%), from €4,559 to €2,547
- Trade debts +€26,331
up €26,331 (+211%), from €12,461 to €38,792
- Reserves -€25,635
down €25,635 (-58.5%), from €43,823 to €18,189
- Accrued charges and deferred income +€11,606
up €11,606 (+1,048%), from €1,108 to €12,713
- Short-term financial debts +€2,751
new in 2025: €2,751
- Tax, wage and social debts -€1,606
down €1,606 (-18.2%), from €8,842 to €7,236
- Gross operating margin -€31,998
down €31,998, from €11,170 to -€20,828
- Depreciation -€3,104
down €3,104 (-60.7%), from €5,115 to €2,011
- Taxes -€1,503
down €1,503 (-87.9%), from €1,709 to €206
- Financial income -€687
down €687 (-63.6%), from €1,079 to €393
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 | €72,434 | €85,881 | +€13,447 | +18.6% |
| Fixed assets | 21/28 | €4,559 | €2,547 | -€2,011 | -44.1% |
| Tangible fixed assets | 22/27 | €4,559 | €2,547 | -€2,011 | -44.1% |
| Plant, machinery and equipment | 23 | €544 | €297 | -€248 | -45.5% |
| Furniture and vehicles | 24 | €1,028 | €159 | -€869 | -84.6% |
| Other tangible fixed assets | 26 | €2,986 | €2,092 | -€894 | -30.0% |
| Current assets | 29/58 | €67,875 | €83,333 | +€15,458 | +22.8% |
| Stocks and contracts in progress | 3 | €7,583 | €0 | -€7,583 | -100% |
| Stocks | 30/36 | €7,583 | €0 | -€7,583 | -100% |
| Amounts receivable within one year | 40/41 | €29,099 | €73,000 | +€43,901 | +151% |
| Trade receivables | 40 | €12,384 | €64,265 | +€51,881 | +419% |
| Other amounts receivable | 41 | €16,716 | €8,735 | -€7,980 | -47.7% |
| Cash at bank and in hand | 54/58 | €28,908 | €943 | -€27,965 | -96.7% |
| Deferred charges and accrued income | 490/1 | €2,285 | €9,390 | +€7,105 | +311% |
| Total equity and liabilities | 10/49 | €72,434 | €85,881 | +€13,447 | +18.6% |
| Equity | 10/15 | €50,023 | €24,389 | -€25,635 | -51.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €43,823 | €18,189 | -€25,635 | -58.5% |
| Distributable reserves | 133 | €43,823 | €18,189 | -€25,635 | -58.5% |
| Amounts payable | 17/49 | €22,411 | €61,492 | +€39,081 | +174% |
| Amounts payable within one year | 42/48 | €21,303 | €48,779 | +€27,476 | +129% |
| Financial debts | 43 | - | €2,751 | +€2,751 | |
| Credit institutions | 430/8 | - | €2,751 | +€2,751 | |
| Trade debts | 44 | €12,461 | €38,792 | +€26,331 | +211% |
| Suppliers | 440/4 | €12,461 | €38,792 | +€26,331 | +211% |
| Taxes, remuneration and social security | 45 | €8,842 | €7,236 | -€1,606 | -18.2% |
| Taxes | 450/3 | €8,842 | €7,236 | -€1,606 | -18.2% |
| Accrued charges and deferred income | 492/3 | €1,108 | €12,713 | +€11,606 | +1,048% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,115 | €2,011 | -€3,104 | -60.7% |
| Other operating charges | 640/8 | €1,369 | €1,292 | -€78 | -5.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €11,170 | -€20,828 | -€31,998 | |
| Operating profit (loss) | 9901 | €4,686 | -€24,131 | -€28,817 | |
| Financial income | 75/76B | €1,079 | €393 | -€687 | -63.6% |
| Recurring financial income | 75 | €1,079 | €393 | -€687 | -63.6% |
| Financial charges | 65/66B | €1,667 | €1,690 | +€23 | +1.4% |
| Recurring financial charges | 65 | €1,667 | €1,690 | +€23 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €4,098 | -€25,429 | -€29,527 | |
| Income taxes | 67/77 | €1,709 | €206 | -€1,503 | -87.9% |
| Profit (loss) for the period | 9904 | €2,390 | -€25,635 | -€28,025 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,390 | -€25,635 | -€28,025 |
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 19 October 2026 via checked.be.