HECRA: 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.
HECRA
Largest movements
- Cash -€46,584
down €46,584 (-90.1%), from €51,690 to €5,106
mainly Net result for the year (-€41,771) and Investment in fixed assets (net) (-€33,500)
- Tangible fixed assets +€11,324
up €11,324 (+33.4%), from €33,925 to €45,248
of which Furniture and vehicles: +€13,351
- Receivables within one year -€9,914
down €9,914 (-54.4%), from €18,232 to €8,319
of which Other amounts receivable: -€9,759
- Deferred charges and accrued income -€5,070
down €5,070 (-8.9%), from €56,967 to €51,897
- Reserves -€41,771
down €41,771 (-35.9%), from €116,412 to €74,641
of which Distributable reserves: -€39,911
- Accrued charges and deferred income +€10,298
up €10,298 (+164.3%), from €6,266 to €16,564
- Current portion of long-term debt -€8,423
down €8,423 (-74.9%), from €11,249 to €2,826
- Other debts -€5,306
down €5,306 (-23.6%), from €22,507 to €17,200
- Short-term financial debts -€2,949
down €2,949 (-100.0%), from €2,949 to €0
- Gross operating margin +€6,948
up €6,948 (+28.9%), from -€24,030 to -€17,082
- Other operating charges +€462
up €462 (+23.5%), from €1,962 to €2,424
- Financial income -€363
down €363 (-31.3%), from €1,157 to €795
- Depreciation +€318
up €318 (+1.5%), from €21,858 to €22,176
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 | €177,923 | €129,435 | -€48,487 | -27.3% |
| Fixed assets | 21/28 | €33,925 | €45,248 | +€11,324 | +33.4% |
| Tangible fixed assets | 22/27 | €33,925 | €45,248 | +€11,324 | +33.4% |
| Land and buildings | 22 | €7,881 | €6,755 | -€1,126 | -14.3% |
| Plant, machinery and equipment | 23 | €1,317 | €415 | -€902 | -68.5% |
| Furniture and vehicles | 24 | €24,727 | €38,078 | +€13,351 | +54.0% |
| Current assets | 29/58 | €143,998 | €84,187 | -€59,811 | -41.5% |
| Amounts receivable within one year | 40/41 | €18,232 | €8,319 | -€9,914 | -54.4% |
| Trade receivables | 40 | €8,473 | €8,319 | -€155 | -1.8% |
| Other amounts receivable | 41 | €9,759 | €0 | -€9,759 | -100.0% |
| Current investments | 50/53 | €17,109 | €18,865 | +€1,756 | +10.3% |
| Cash at bank and in hand | 54/58 | €51,690 | €5,106 | -€46,584 | -90.1% |
| Deferred charges and accrued income | 490/1 | €56,967 | €51,897 | -€5,070 | -8.9% |
| Total equity and liabilities | 10/49 | €177,923 | €129,435 | -€48,487 | -27.3% |
| Equity | 10/15 | €122,612 | €80,841 | -€41,771 | -34.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €116,412 | €74,641 | -€41,771 | -35.9% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100.0% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100.0% |
| Distributable reserves | 133 | €114,552 | €74,641 | -€39,911 | -34.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €55,311 | €48,594 | -€6,716 | -12.1% |
| Amounts payable after more than one year | 17 | €2,826 | €0 | -€2,826 | -100.0% |
| Financial debts | 170/4 | €2,826 | €0 | -€2,826 | -100.0% |
| Amounts payable within one year | 42/48 | €46,218 | €32,030 | -€14,188 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €11,249 | €2,826 | -€8,423 | -74.9% |
| Financial debts | 43 | €2,949 | €0 | -€2,949 | -100.0% |
| Other loans | 439 | €2,949 | €0 | -€2,949 | -100.0% |
| Trade debts | 44 | €2,637 | €5,239 | +€2,602 | +98.7% |
| Suppliers | 440/4 | €2,637 | €5,239 | +€2,602 | +98.7% |
| Taxes, remuneration and social security | 45 | €6,876 | €6,764 | -€112 | -1.6% |
| Taxes | 450/3 | €6,876 | €6,764 | -€112 | -1.6% |
| Other amounts payable | 47/48 | €22,507 | €17,200 | -€5,306 | -23.6% |
| Accrued charges and deferred income | 492/3 | €6,266 | €16,564 | +€10,298 | +164.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,858 | €22,176 | +€318 | +1.5% |
| Other operating charges | 640/8 | €1,962 | €2,424 | +€462 | +23.5% |
| Gross operating margin | 9900 | -€24,030 | -€17,082 | +€6,948 | +28.9% |
| Operating profit (loss) | 9901 | -€47,850 | -€41,682 | +€6,169 | +12.9% |
| Financial income | 75/76B | €1,157 | €795 | -€363 | -31.3% |
| Recurring financial income | 75 | €1,157 | €795 | -€363 | -31.3% |
| Financial charges | 65/66B | €573 | €537 | -€36 | -6.3% |
| Recurring financial charges | 65 | €573 | €537 | -€36 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | -€47,266 | -€41,424 | +€5,842 | +12.4% |
| Income taxes | 67/77 | €346 | €347 | +€2 | +0.4% |
| Profit (loss) for the period | 9904 | -€47,612 | -€41,771 | +€5,841 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,612 | -€41,771 | +€5,841 | +12.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.