HEDON 1st: 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.
HEDON 1st
Largest movements
- Tangible fixed assets -€16,425
down €16,425 (-20.0%), from €82,125 to €65,700
- Cash -€8,900
down €8,900 (-9.3%), from €95,772 to €86,872
mainly Debts after one year (-€25,271) and Deferred charges and accrued income (-€54)
- Debts after one year -€25,271
down €25,271 (-49.6%), from €50,979 to €25,708
- Gross operating margin -€446
down €446 (-2.6%), from €17,316 to €16,870
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 | €178,415 | €153,144 | -€25,271 | -14.2% |
| Fixed assets | 21/28 | €82,125 | €65,700 | -€16,425 | -20.0% |
| Tangible fixed assets | 22/27 | €82,125 | €65,700 | -€16,425 | -20.0% |
| Land and buildings | 22 | €82,125 | €65,700 | -€16,425 | -20.0% |
| Current assets | 29/58 | €96,290 | €87,444 | -€8,846 | -9.2% |
| Cash at bank and in hand | 54/58 | €95,772 | €86,872 | -€8,900 | -9.3% |
| Deferred charges and accrued income | 490/1 | €518 | €572 | +€54 | +10.3% |
| Total equity and liabilities | 10/49 | €178,415 | €153,144 | -€25,271 | -14.2% |
| Equity | 10/15 | €84,985 | €84,985 | +€0 | 0.0% |
| Contributions | 10/11 | €61,974 | €61,974 | = | 0.0% |
| Capital | 10 | €61,974 | €61,974 | = | 0.0% |
| Issued capital | 100 | €61,974 | €61,974 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,813 | €16,814 | +€0 | 0.0% |
| Provisions and deferred taxes | 16 | €3,451 | €3,451 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €3,451 | €3,451 | = | 0.0% |
| Other liabilities and charges | 164/5 | €3,451 | €3,451 | = | 0.0% |
| Amounts payable | 17/49 | €89,979 | €64,708 | -€25,271 | -28.1% |
| Amounts payable after more than one year | 17 | €50,979 | €25,708 | -€25,271 | -49.6% |
| Financial debts | 170/4 | €50,979 | €25,708 | -€25,271 | -49.6% |
| Amounts payable within one year | 42/48 | €36,500 | €36,500 | = | 0.0% |
| Trade debts | 44 | €36,500 | €36,500 | = | 0.0% |
| Suppliers | 440/4 | €36,500 | €36,500 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,425 | €16,425 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €17,316 | €16,870 | -€446 | -2.6% |
| Operating profit (loss) | 9901 | €504 | €45 | -€459 | -91.0% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €459 | €0 | -€459 | -99.9% |
| Profit (loss) for the period | 9904 | €459 | €0 | -€459 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €459 | €0 | -€459 | -99.9% |
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 15 October 2026 via checked.be.