Hedron 8: 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 8
Largest movements
- Cash +€22,307
up €22,307 (+71.7%), from €31,095 to €53,402
mainly Net result for the year (+€24,882) and Tax, wage and social debts (+€2,638)
- Receivables within one year +€5,688
up €5,688 (+1,825%), from €312 to €6,000
of which Trade receivables: +€6,000
- Tangible fixed assets -€876
down €876 (-43.2%), from €2,027 to €1,152
of which Furniture and vehicles: -€876
- Reserves +€24,882
up €24,882 (+121%), from €20,571 to €45,454
- Tax, wage and social debts +€2,638
up €2,638 (+48.7%), from €5,419 to €8,057
- Trade debts -€1,404
down €1,404 (-100%), from €1,404 to €0
- Other debts +€1,003
up €1,003 (+24.8%), from €4,040 to €5,043
- Financial income +€3,957
new in 2025: €3,957
- Gross operating margin -€2,492
down €2,492 (-8.1%), from €30,594 to €28,102
- Financial charges -€1,616
down €1,616 (-95.3%), from €1,696 to €80
- Taxes +€617
up €617 (+11.4%), from €5,419 to €6,036
- Depreciation +€387
up €387 (+79.1%), from €489 to €876
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 | €33,434 | €60,554 | +€27,120 | +81.1% |
| Fixed assets | 21/28 | €2,027 | €1,152 | -€876 | -43.2% |
| Tangible fixed assets | 22/27 | €2,027 | €1,152 | -€876 | -43.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,027 | €1,152 | -€876 | -43.2% |
| Current assets | 29/58 | €31,406 | €59,402 | +€27,996 | +89.1% |
| Amounts receivable within one year | 40/41 | €312 | €6,000 | +€5,688 | +1,825% |
| Trade receivables | 40 | - | €6,000 | +€6,000 | |
| Other amounts receivable | 41 | €312 | €0 | -€312 | -100% |
| Cash at bank and in hand | 54/58 | €31,095 | €53,402 | +€22,307 | +71.7% |
| Total equity and liabilities | 10/49 | €33,434 | €60,554 | +€27,120 | +81.1% |
| Equity | 10/15 | €22,571 | €47,454 | +€24,882 | +110% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €20,571 | €45,454 | +€24,882 | +121% |
| Distributable reserves | 133 | €20,571 | €45,454 | +€24,882 | +121% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €10,863 | €13,101 | +€2,238 | +20.6% |
| Amounts payable within one year | 42/48 | €10,863 | €13,101 | +€2,238 | +20.6% |
| Trade debts | 44 | €1,404 | €0 | -€1,404 | -100% |
| Suppliers | 440/4 | €1,404 | €0 | -€1,404 | -100% |
| Taxes, remuneration and social security | 45 | €5,419 | €8,057 | +€2,638 | +48.7% |
| Taxes | 450/3 | €5,419 | €8,057 | +€2,638 | +48.7% |
| Other amounts payable | 47/48 | €4,040 | €5,043 | +€1,003 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €489 | €876 | +€387 | +79.1% |
| Other operating charges | 640/8 | €182 | €186 | +€4 | +2.1% |
| Gross operating margin | 9900 | €30,594 | €28,102 | -€2,492 | -8.1% |
| Operating profit (loss) | 9901 | €29,923 | €27,040 | -€2,883 | -9.6% |
| Financial income | 75/76B | - | €3,957 | +€3,957 | |
| Recurring financial income | 75 | - | €3,957 | +€3,957 | |
| Financial charges | 65/66B | €1,696 | €80 | -€1,616 | -95.3% |
| Recurring financial charges | 65 | €1,696 | €80 | -€1,616 | -95.3% |
| Profit (loss) for the period before taxes | 9903 | €28,228 | €30,918 | +€2,690 | +9.5% |
| Income taxes | 67/77 | €5,419 | €6,036 | +€617 | +11.4% |
| Profit (loss) for the period | 9904 | €22,809 | €24,882 | +€2,074 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €22,809 | €24,882 | +€2,074 | +9.1% |
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 23 October 2026 via checked.be.