HEDILMA: 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.
HEDILMA
Largest movements
- Receivables within one year +€255,799
up €255,799 (+1043.5%), from €24,513 to €280,311
of which Other amounts receivable: +€255,799
- Receivables after one year -€174,766
down €174,766 (-100.0%), from €174,766 to €0
- Tangible fixed assets -€99,600
down €99,600 (-14.0%), from €711,378 to €611,779
of which Land and buildings: -€58,446
- Cash -€11,087
down €11,087 (-34.3%), from €32,342 to €21,256
mainly Receivables within one year (-€255,799) and Net result for the year (-€126,206)
- Accrued charges and deferred income +€149,770
up €149,770 (+8657.2%), from €1,730 to €151,500
- Profit (loss) carried forward -€126,206
new in 2025: -€126,206
- Trade debts -€28,803
down €28,803 (-37.9%), from €75,978 to €47,175
- Debts after one year -€24,475
down €24,475 (-4.4%), from €555,105 to €530,630
- Tax, wage and social debts -€11,404
down €11,404 (-80.2%), from €14,226 to €2,822
- Financial charges +€15,383
up €15,383 (+170.9%), from €9,001 to €24,384
- Taxes -€11,664
down €11,664 (-96.9%), from €12,037 to €374
- Gross operating margin +€7,440
up €7,440 (+4.8%), from €154,698 to €162,137
- Other operating charges +€2,722
up €2,722 (+20.2%), from €13,458 to €16,180
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 | €947,286 | €915,922 | -€31,364 | -3.3% |
| Fixed assets | 21/28 | €711,378 | €611,779 | -€99,600 | -14.0% |
| Tangible fixed assets | 22/27 | €711,378 | €611,779 | -€99,600 | -14.0% |
| Land and buildings | 22 | €504,532 | €446,086 | -€58,446 | -11.6% |
| Plant, machinery and equipment | 23 | €205,671 | €165,693 | -€39,979 | -19.4% |
| Furniture and vehicles | 24 | €1,175 | €0 | -€1,175 | -100.0% |
| Current assets | 29/58 | €235,907 | €304,143 | +€68,235 | +28.9% |
| Amounts receivable after more than one year | 29 | €174,766 | €0 | -€174,766 | -100.0% |
| Other amounts receivable | 291 | €174,766 | €0 | -€174,766 | -100.0% |
| Amounts receivable within one year | 40/41 | €24,513 | €280,311 | +€255,799 | +1043.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €24,513 | €280,311 | +€255,799 | +1043.5% |
| Cash at bank and in hand | 54/58 | €32,342 | €21,256 | -€11,087 | -34.3% |
| Deferred charges and accrued income | 490/1 | €4,286 | €2,576 | -€1,710 | -39.9% |
| Total equity and liabilities | 10/49 | €947,286 | €915,922 | -€31,364 | -3.3% |
| Equity | 10/15 | €257,343 | €131,137 | -€126,206 | -49.0% |
| Contributions | 10/11 | €75,750 | €75,750 | = | 0.0% |
| Reserves | 13 | €181,593 | €181,593 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €181,593 | €181,593 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€126,206 | -€126,206 | |
| Amounts payable | 17/49 | €689,943 | €784,784 | +€94,841 | +13.7% |
| Amounts payable after more than one year | 17 | €555,105 | €530,630 | -€24,475 | -4.4% |
| Financial debts | 170/4 | €555,105 | €530,630 | -€24,475 | -4.4% |
| Amounts payable within one year | 42/48 | €133,108 | €102,654 | -€30,454 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €39,528 | €38,657 | -€872 | -2.2% |
| Financial debts | 43 | €3,376 | €14,000 | +€10,624 | +314.7% |
| Credit institutions | 430/8 | €3,376 | €14,000 | +€10,624 | +314.7% |
| Trade debts | 44 | €75,978 | €47,175 | -€28,803 | -37.9% |
| Suppliers | 440/4 | €75,978 | €47,175 | -€28,803 | -37.9% |
| Taxes, remuneration and social security | 45 | €14,226 | €2,822 | -€11,404 | -80.2% |
| Taxes | 450/3 | €14,226 | €2,822 | -€11,404 | -80.2% |
| Accrued charges and deferred income | 492/3 | €1,730 | €151,500 | +€149,770 | +8657.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,821 | €97,406 | -€1,415 | -1.4% |
| Other operating charges | 640/8 | €13,458 | €16,180 | +€2,722 | +20.2% |
| Non-recurring operating charges | 66A | - | €150,000 | +€150,000 | |
| Gross operating margin | 9900 | €154,698 | €162,137 | +€7,440 | +4.8% |
| Operating profit (loss) | 9901 | €42,419 | -€101,448 | -€143,867 | |
| Financial income | 75/76B | €1,034 | €0 | -€1,034 | -100.0% |
| Recurring financial income | 75 | €1,034 | €0 | -€1,034 | -100.0% |
| Financial charges | 65/66B | €9,001 | €24,384 | +€15,383 | +170.9% |
| Recurring financial charges | 65 | €9,001 | €24,384 | +€15,383 | +170.9% |
| Profit (loss) for the period before taxes | 9903 | €34,452 | -€125,832 | -€160,284 | |
| Income taxes | 67/77 | €12,037 | €374 | -€11,664 | -96.9% |
| Profit (loss) for the period | 9904 | €22,415 | -€126,206 | -€148,620 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,415 | -€126,206 | -€148,620 |
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 5 October 2026 via checked.be.