HECON: what changed
Two fiscal 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.
HECON
Largest movements
- Current investments +€12,000
up €12,000 (+50.0%), from €24,000 to €36,000
- Cash -€11,046
down €11,046 (-20.3%), from €54,502 to €43,456
mainly Other debts (-€14,829) and Current investments (-€12,000)
- Receivables within one year +€6,221
up €6,221 (+35.2%), from €17,670 to €23,891
of which Other amounts receivable: +€4,038
- Tangible fixed assets -€6,176
down €6,176 (-4.9%), from €124,895 to €118,719
of which Furniture and vehicles: -€3,176
- Reserves +€25,111
up €25,111 (+35.2%), from €71,357 to €96,468
- Other debts -€14,829
down €14,829 (-34.2%), from €43,309 to €28,479
- Debts after one year -€8,834
down €8,834 (-10.6%), from €83,413 to €74,578
- Trade debts +€3,818
up €3,818 (+1338.2%), from €285 to €4,104
- Tax, wage and social debts -€3,698
down €3,698 (-33.0%), from €11,193 to €7,494
of which Taxes: -€3,698
- Other operating charges -€13,307
down €13,307 (-89.0%), from €14,946 to €1,639
- Gross operating margin -€10,496
down €10,496 (-18.1%), from €57,953 to €47,457
- Depreciation +€3,319
up €3,319 (+116.2%), from €2,857 to €6,176
- Taxes +€2,017
up €2,017 (+22.6%), from €8,938 to €10,956
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.
Cash bridge derived
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 | €223,302 | €224,958 | +€1,656 | +0.7% |
| Fixed assets | 21/28 | €125,465 | €119,289 | -€6,176 | -4.9% |
| Tangible fixed assets | 22/27 | €124,895 | €118,719 | -€6,176 | -4.9% |
| Land and buildings | 22 | €110,451 | €107,451 | -€3,000 | -2.7% |
| Furniture and vehicles | 24 | €14,444 | €11,268 | -€3,176 | -22.0% |
| Financial fixed assets | 28 | €570 | €570 | = | 0.0% |
| Current assets | 29/58 | €97,837 | €105,669 | +€7,832 | +8.0% |
| Amounts receivable within one year | 40/41 | €17,670 | €23,891 | +€6,221 | +35.2% |
| Trade receivables | 40 | €17,670 | €19,853 | +€2,183 | +12.4% |
| Other amounts receivable | 41 | - | €4,038 | +€4,038 | |
| Current investments | 50/53 | €24,000 | €36,000 | +€12,000 | +50.0% |
| Cash at bank and in hand | 54/58 | €54,502 | €43,456 | -€11,046 | -20.3% |
| Deferred charges and accrued income | 490/1 | €1,665 | €2,322 | +€657 | +39.5% |
| Total equity and liabilities | 10/49 | €223,302 | €224,958 | +€1,656 | +0.7% |
| Equity | 10/15 | €76,357 | €101,468 | +€25,111 | +32.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €71,357 | €96,468 | +€25,111 | +35.2% |
| Distributable reserves | 133 | €71,357 | €96,468 | +€25,111 | +35.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €146,945 | €123,490 | -€23,455 | -16.0% |
| Amounts payable after more than one year | 17 | €83,413 | €74,578 | -€8,834 | -10.6% |
| Financial debts | 170/4 | €83,413 | €74,578 | -€8,834 | -10.6% |
| Amounts payable within one year | 42/48 | €63,332 | €48,912 | -€14,421 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €8,546 | €8,834 | +€289 | +3.4% |
| Trade debts | 44 | €285 | €4,104 | +€3,818 | +1338.2% |
| Suppliers | 440/4 | €285 | €4,104 | +€3,818 | +1338.2% |
| Taxes, remuneration and social security | 45 | €11,193 | €7,494 | -€3,698 | -33.0% |
| Taxes | 450/3 | €11,193 | €7,494 | -€3,698 | -33.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €43,309 | €28,479 | -€14,829 | -34.2% |
| Accrued charges and deferred income | 492/3 | €200 | €0 | -€200 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,857 | €6,176 | +€3,319 | +116.2% |
| Other operating charges | 640/8 | €14,946 | €1,639 | -€13,307 | -89.0% |
| Gross operating margin | 9900 | €57,953 | €47,457 | -€10,496 | -18.1% |
| Operating profit (loss) | 9901 | €40,150 | €39,643 | -€507 | -1.3% |
| Financial income | 75/76B | €284 | €0 | -€284 | -100.0% |
| Recurring financial income | 75 | €284 | €0 | -€284 | -100.0% |
| Financial charges | 65/66B | €3,445 | €3,576 | +€132 | +3.8% |
| Recurring financial charges | 65 | €3,445 | €3,576 | +€132 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €36,989 | €36,067 | -€922 | -2.5% |
| Income taxes | 67/77 | €8,938 | €10,956 | +€2,017 | +22.6% |
| Profit (loss) for the period | 9904 | €28,051 | €25,111 | -€2,940 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,051 | €25,111 | -€2,940 | -10.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.