HEDAR: 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.
HEDAR
Largest movements
- Tangible fixed assets -€7,500
down €7,500 (-66.7%), from €11,250 to €3,750
- Cash +€574
up €574 (+464.5%), from €124 to €698
mainly Depreciation (+€7,500) and Other debts (+€5,053)
- Debts after one year -€9,024
no longer reported in 2025 (was €9,024)
- Other debts +€5,053
up €5,053 (+13.9%), from €36,272 to €41,324
- Current portion of long-term debt -€2,452
down €2,452 (-21.4%), from €11,476 to €9,024
- Profit (loss) carried forward -€503
down €503 (-0.8%), from -€59,657 to -€60,160
- Other operating charges -€671
down €671 (-24.8%), from €2,703 to €2,032
- Financial charges -€664
down €664 (-42.1%), from €1,578 to €914
- Gross operating margin +€119
up €119 (+1.2%), from €9,824 to €9,943
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 | €11,374 | €4,448 | -€6,926 | -60.9% |
| Fixed assets | 21/28 | €11,250 | €3,750 | -€7,500 | -66.7% |
| Tangible fixed assets | 22/27 | €11,250 | €3,750 | -€7,500 | -66.7% |
| Leasing and similar rights | 25 | €11,250 | €3,750 | -€7,500 | -66.7% |
| Current assets | 29/58 | €124 | €698 | +€574 | +464.5% |
| Cash at bank and in hand | 54/58 | €124 | €698 | +€574 | +464.5% |
| Total equity and liabilities | 10/49 | €11,374 | €4,448 | -€6,926 | -60.9% |
| Equity | 10/15 | -€45,397 | -€45,900 | -€503 | -1.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,657 | -€60,160 | -€503 | -0.8% |
| Amounts payable | 17/49 | €56,771 | €50,348 | -€6,423 | -11.3% |
| Amounts payable after more than one year | 17 | €9,024 | - | -€9,024 | |
| Financial debts | 170/4 | €9,024 | - | -€9,024 | |
| Amounts payable within one year | 42/48 | €47,747 | €50,348 | +€2,601 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €11,476 | €9,024 | -€2,452 | -21.4% |
| Other amounts payable | 47/48 | €36,272 | €41,324 | +€5,053 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,500 | €7,500 | = | 0.0% |
| Other operating charges | 640/8 | €2,703 | €2,032 | -€671 | -24.8% |
| Gross operating margin | 9900 | €9,824 | €9,943 | +€119 | +1.2% |
| Operating profit (loss) | 9901 | -€379 | €412 | +€790 | |
| Financial charges | 65/66B | €1,578 | €914 | -€664 | -42.1% |
| Recurring financial charges | 65 | €1,578 | €914 | -€664 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,957 | -€503 | +€1,454 | +74.3% |
| Profit (loss) for the period | 9904 | -€1,957 | -€503 | +€1,454 | +74.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,957 | -€503 | +€1,454 | +74.3% |
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 29 September 2026 via checked.be.