HED-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.
HED-CONSULTING
Largest movements
- Cash +€8,535
up €8,535 (+193%), from €4,420 to €12,955
mainly Depreciation (+€7,636) and Net result for the year (+€7,062)
- Tangible fixed assets -€7,636
down €7,636 (-4.8%), from €159,806 to €152,170
of which Land and buildings: -€6,351
- Receivables within one year +€2,831
up €2,831 (+13.4%), from €21,201 to €24,033
of which Trade receivables: +€2,792
- Profit (loss) carried forward +€7,062
up €7,062 (+4.8%), from €146,483 to €153,546
- Debts after one year -€3,280
down €3,280 (-62.8%), from €5,223 to €1,944
- Gross operating margin -€2,523
down €2,523 (-11.8%), from €21,453 to €18,930
- Depreciation +€1,067
up €1,067 (+16.2%), from €6,569 to €7,636
- Financial income +€400
up €400 (+399,900%), from €0 to €400
- Financial charges -€394
down €394 (-39.8%), from €990 to €596
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 | €185,427 | €189,158 | +€3,731 | +2.0% |
| Fixed assets | 21/28 | €159,806 | €152,170 | -€7,636 | -4.8% |
| Tangible fixed assets | 22/27 | €159,806 | €152,170 | -€7,636 | -4.8% |
| Land and buildings | 22 | €147,176 | €140,825 | -€6,351 | -4.3% |
| Plant, machinery and equipment | 23 | €12,631 | €11,346 | -€1,285 | -10.2% |
| Current assets | 29/58 | €25,621 | €36,988 | +€11,367 | +44.4% |
| Amounts receivable within one year | 40/41 | €21,201 | €24,033 | +€2,831 | +13.4% |
| Trade receivables | 40 | - | €2,792 | +€2,792 | |
| Other amounts receivable | 41 | €21,201 | €21,240 | +€39 | +0.2% |
| Cash at bank and in hand | 54/58 | €4,420 | €12,955 | +€8,535 | +193% |
| Total equity and liabilities | 10/49 | €185,427 | €189,158 | +€3,731 | +2.0% |
| Equity | 10/15 | €175,185 | €182,248 | +€7,062 | +4.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €10,110 | €10,110 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €8,110 | €8,110 | = | 0.0% |
| Profit (loss) carried forward | 14 | €146,483 | €153,546 | +€7,062 | +4.8% |
| Amounts payable | 17/49 | €10,242 | €6,911 | -€3,332 | -32.5% |
| Amounts payable after more than one year | 17 | €5,223 | €1,944 | -€3,280 | -62.8% |
| Financial debts | 170/4 | €5,223 | €1,944 | -€3,280 | -62.8% |
| Amounts payable within one year | 42/48 | €5,019 | €4,967 | -€52 | -1.0% |
| Current portion of amounts payable after more than one year | 42 | €3,215 | €3,280 | +€65 | +2.0% |
| Trade debts | 44 | €278 | €215 | -€62 | -22.4% |
| Suppliers | 440/4 | €278 | €215 | -€62 | -22.4% |
| Taxes, remuneration and social security | 45 | €1,178 | €1,123 | -€55 | -4.6% |
| Taxes | 450/3 | €1,178 | €1,123 | -€55 | -4.6% |
| Other amounts payable | 47/48 | €348 | €348 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,569 | €7,636 | +€1,067 | +16.2% |
| Other operating charges | 640/8 | €1,611 | €1,661 | +€49 | +3.1% |
| Gross operating margin | 9900 | €21,453 | €18,930 | -€2,523 | -11.8% |
| Operating profit (loss) | 9901 | €13,273 | €9,634 | -€3,639 | -27.4% |
| Financial income | 75/76B | €0 | €400 | +€400 | +399,900% |
| Recurring financial income | 75 | €0 | €400 | +€400 | +399,900% |
| Financial charges | 65/66B | €990 | €596 | -€394 | -39.8% |
| Recurring financial charges | 65 | €990 | €596 | -€394 | -39.8% |
| Profit (loss) for the period before taxes | 9903 | €12,283 | €9,437 | -€2,846 | -23.2% |
| Income taxes | 67/77 | €2,573 | €2,375 | -€198 | -7.7% |
| Profit (loss) for the period | 9904 | €9,710 | €7,062 | -€2,648 | -27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,710 | €7,062 | -€2,648 | -27.3% |
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 20 October 2026 via checked.be.