HEDICO: 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.
HEDICO
Largest movements
- Tangible fixed assets -€17,711
down €17,711 (-25.5%), from €69,373 to €51,662
of which Furniture and vehicles: -€15,421
- Cash -€16,199
down €16,199 (-33.2%), from €48,766 to €32,567
mainly Other debts (-€43,956) and Receivables within one year (-€14,632)
- Receivables within one year +€14,632
up €14,632 (+68.8%), from €21,262 to €35,893
of which Trade receivables: +€24,256
- Stocks and contracts -€9,938
no longer reported in 2025 (was €9,938)
- Other debts -€43,956
down €43,956 (-94.0%), from €46,753 to €2,797
- Profit (loss) carried forward +€29,199
up €29,199 (+64.6%), from €45,215 to €74,415
- Debts after one year -€14,080
down €14,080 (-35.0%), from €40,226 to €26,145
- Gross operating margin -€6,872
down €6,872 (-10.3%), from €66,970 to €60,098
- Depreciation +€1,234
up €1,234 (+7.5%), from €16,477 to €17,711
- Financial charges -€681
down €681 (-23.4%), from €2,916 to €2,235
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 | €152,345 | €122,969 | -€29,375 | -19.3% |
| Fixed assets | 21/28 | €69,373 | €51,662 | -€17,711 | -25.5% |
| Tangible fixed assets | 22/27 | €69,373 | €51,662 | -€17,711 | -25.5% |
| Land and buildings | 22 | €6,843 | €5,559 | -€1,285 | -18.8% |
| Plant, machinery and equipment | 23 | €4,860 | €3,854 | -€1,005 | -20.7% |
| Furniture and vehicles | 24 | €57,670 | €42,249 | -€15,421 | -26.7% |
| Current assets | 29/58 | €82,972 | €71,308 | -€11,664 | -14.1% |
| Stocks and contracts in progress | 3 | €9,938 | - | -€9,938 | |
| Stocks | 30/36 | €9,938 | - | -€9,938 | |
| Amounts receivable within one year | 40/41 | €21,262 | €35,893 | +€14,632 | +68.8% |
| Trade receivables | 40 | €10,000 | €34,256 | +€24,256 | +242.6% |
| Other amounts receivable | 41 | €11,262 | €1,637 | -€9,624 | -85.5% |
| Cash at bank and in hand | 54/58 | €48,766 | €32,567 | -€16,199 | -33.2% |
| Deferred charges and accrued income | 490/1 | €3,006 | €2,848 | -€159 | -5.3% |
| Total equity and liabilities | 10/49 | €152,345 | €122,969 | -€29,375 | -19.3% |
| Equity | 10/15 | €47,715 | €76,915 | +€29,199 | +61.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,215 | €74,415 | +€29,199 | +64.6% |
| Amounts payable | 17/49 | €104,629 | €46,055 | -€58,575 | -56.0% |
| Amounts payable after more than one year | 17 | €40,226 | €26,145 | -€14,080 | -35.0% |
| Financial debts | 170/4 | €40,226 | €26,145 | -€14,080 | -35.0% |
| Amounts payable within one year | 42/48 | €64,404 | €19,910 | -€44,494 | -69.1% |
| Current portion of amounts payable after more than one year | 42 | €13,488 | €14,080 | +€593 | +4.4% |
| Trade debts | 44 | €1,633 | €699 | -€934 | -57.2% |
| Suppliers | 440/4 | €1,633 | €699 | -€934 | -57.2% |
| Taxes, remuneration and social security | 45 | €2,530 | €2,333 | -€198 | -7.8% |
| Taxes | 450/3 | €2,530 | €2,333 | -€198 | -7.8% |
| Other amounts payable | 47/48 | €46,753 | €2,797 | -€43,956 | -94.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,477 | €17,711 | +€1,234 | +7.5% |
| Other operating charges | 640/8 | €337 | €120 | -€217 | -64.4% |
| Gross operating margin | 9900 | €66,970 | €60,098 | -€6,872 | -10.3% |
| Operating profit (loss) | 9901 | €50,156 | €42,267 | -€7,889 | -15.7% |
| Financial charges | 65/66B | €2,916 | €2,235 | -€681 | -23.4% |
| Recurring financial charges | 65 | €2,916 | €2,235 | -€681 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €47,240 | €40,032 | -€7,208 | -15.3% |
| Income taxes | 67/77 | €10,770 | €10,833 | +€63 | +0.6% |
| Profit (loss) for the period | 9904 | €36,470 | €29,199 | -€7,271 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €36,470 | €29,199 | -€7,271 | -19.9% |
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 7 October 2026 via checked.be.