Hedron: 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.
Hedron
Largest movements
- Cash +€37,686
up €37,686 (+47.4%), from €79,476 to €117,162
mainly Net result for the year (+€59,584) and Depreciation (+€22,788)
- Tangible fixed assets -€21,589
down €21,589 (-37.7%), from €57,265 to €35,676
of which Furniture and vehicles: -€18,342
- Receivables within one year -€4,598
down €4,598 (-12.2%), from €37,674 to €33,077
of which Trade receivables: -€4,594
- Reserves +€9,584
up €9,584 (+2.9%), from €325,933 to €335,517
- Tax, wage and social debts +€4,654
up €4,654 (+103.0%), from €4,520 to €9,174
of which Taxes: +€4,654
- Gross operating margin +€11,782
up €11,782 (+13.2%), from €89,168 to €100,950
- Taxes +€3,216
up €3,216 (+16.8%), from €19,148 to €22,364
- Financial income +€2,427
up €2,427 (+106.9%), from €2,271 to €4,697
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €333,838 | €346,175 | +€12,337 | +3.7% |
| Fixed assets | 21/28 | €57,265 | €35,676 | -€21,589 | -37.7% |
| Tangible fixed assets | 22/27 | €57,265 | €35,676 | -€21,589 | -37.7% |
| Plant, machinery and equipment | 23 | €3,875 | €2,667 | -€1,207 | -31.2% |
| Furniture and vehicles | 24 | €43,977 | €25,634 | -€18,342 | -41.7% |
| Other tangible fixed assets | 26 | €9,414 | €7,375 | -€2,039 | -21.7% |
| Current assets | 29/58 | €276,572 | €310,498 | +€33,926 | +12.3% |
| Amounts receivable within one year | 40/41 | €37,674 | €33,077 | -€4,598 | -12.2% |
| Trade receivables | 40 | €37,421 | €32,827 | -€4,594 | -12.3% |
| Other amounts receivable | 41 | €253 | €250 | -€3 | -1.3% |
| Current investments | 50/53 | €157,447 | €158,614 | +€1,167 | +0.7% |
| Cash at bank and in hand | 54/58 | €79,476 | €117,162 | +€37,686 | +47.4% |
| Deferred charges and accrued income | 490/1 | €1,974 | €1,645 | -€329 | -16.7% |
| Total equity and liabilities | 10/49 | €333,838 | €346,175 | +€12,337 | +3.7% |
| Equity | 10/15 | €326,333 | €335,917 | +€9,584 | +2.9% |
| Contributions | 10/11 | €400 | €400 | = | 0.0% |
| Reserves | 13 | €325,933 | €335,517 | +€9,584 | +2.9% |
| Distributable reserves | 133 | €325,933 | €335,517 | +€9,584 | +2.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €7,505 | €10,258 | +€2,753 | +36.7% |
| Amounts payable within one year | 42/48 | €7,298 | €9,996 | +€2,698 | +37.0% |
| Financial debts | 43 | €133 | €99 | -€34 | -25.6% |
| Credit institutions | 430/8 | €133 | €99 | -€34 | -25.6% |
| Trade debts | 44 | €2,536 | €569 | -€1,967 | -77.6% |
| Suppliers | 440/4 | €2,536 | €569 | -€1,967 | -77.6% |
| Taxes, remuneration and social security | 45 | €4,520 | €9,174 | +€4,654 | +103.0% |
| Taxes | 450/3 | €3,770 | €8,424 | +€4,654 | +123.5% |
| Remuneration and social security | 454/9 | €750 | €750 | = | 0.0% |
| Other amounts payable | 47/48 | €109 | €154 | +€45 | +41.3% |
| Accrued charges and deferred income | 492/3 | €207 | €261 | +€54 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,574 | €22,788 | +€215 | +1.0% |
| Other operating charges | 640/8 | €926 | €774 | -€153 | -16.5% |
| Gross operating margin | 9900 | €89,168 | €100,950 | +€11,782 | +13.2% |
| Operating profit (loss) | 9901 | €65,668 | €77,388 | +€11,719 | +17.8% |
| Financial income | 75/76B | €2,271 | €4,697 | +€2,427 | +106.9% |
| Recurring financial income | 75 | €2,271 | €4,697 | +€2,427 | +106.9% |
| Financial charges | 65/66B | €153 | €136 | -€16 | -10.7% |
| Recurring financial charges | 65 | €153 | €136 | -€16 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €67,787 | €81,949 | +€14,162 | +20.9% |
| Income taxes | 67/77 | €19,148 | €22,364 | +€3,216 | +16.8% |
| Profit (loss) for the period | 9904 | €48,638 | €59,584 | +€10,946 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €48,638 | €59,584 | +€10,946 | +22.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.