HEDYSAB: 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.
HEDYSAB
Largest movements
- Cash +€283,887
up €283,887 (+1,595%), from €17,804 to €301,691
mainly Net result for the year (+€449,403) and Other debts (+€320,252)
- Deferred charges and accrued income +€150,044
up €150,044 (+213%), from €70,459 to €220,502
- Receivables within one year -€102,806
down €102,806 (-42.4%), from €242,507 to €139,701
- Tangible fixed assets -€10,840
down €10,840 (-13.0%), from €83,096 to €72,257
of which Other tangible fixed assets: -€8,311
- Other debts +€320,252
up €320,252 (+81.4%), from €393,360 to €713,612
- Gross operating margin +€113,449
up €113,449 (+22.9%), from €495,884 to €609,333
- Taxes +€29,732
up €29,732 (+25.8%), from €115,302 to €145,034
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 | €413,865 | €734,150 | +€320,284 | +77.4% |
| Fixed assets | 21/28 | €83,096 | €72,257 | -€10,840 | -13.0% |
| Tangible fixed assets | 22/27 | €83,096 | €72,257 | -€10,840 | -13.0% |
| Furniture and vehicles | 24 | €22,001 | €19,472 | -€2,529 | -11.5% |
| Other tangible fixed assets | 26 | €61,095 | €52,784 | -€8,311 | -13.6% |
| Current assets | 29/58 | €330,769 | €661,893 | +€331,124 | +100% |
| Amounts receivable within one year | 40/41 | €242,507 | €139,701 | -€102,806 | -42.4% |
| Other amounts receivable | 41 | €242,507 | €139,701 | -€102,806 | -42.4% |
| Cash at bank and in hand | 54/58 | €17,804 | €301,691 | +€283,887 | +1,595% |
| Deferred charges and accrued income | 490/1 | €70,459 | €220,502 | +€150,044 | +213% |
| Total equity and liabilities | 10/49 | €413,865 | €734,150 | +€320,284 | +77.4% |
| Equity | 10/15 | €20,405 | €20,405 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Amounts payable | 17/49 | €393,460 | €713,745 | +€320,284 | +81.4% |
| Amounts payable within one year | 42/48 | €393,460 | €713,745 | +€320,284 | +81.4% |
| Trade debts | 44 | €100 | €98 | -€2 | -2.0% |
| Suppliers | 440/4 | €100 | €98 | -€2 | -2.0% |
| Taxes, remuneration and social security | 45 | - | €34 | +€34 | |
| Taxes | 450/3 | - | €34 | +€34 | |
| Other amounts payable | 47/48 | €393,360 | €713,612 | +€320,252 | +81.4% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,304 | €14,306 | -€998 | -6.5% |
| Other operating charges | 640/8 | €651 | €466 | -€186 | -28.5% |
| Gross operating margin | 9900 | €495,884 | €609,333 | +€113,449 | +22.9% |
| Operating profit (loss) | 9901 | €479,929 | €594,562 | +€114,633 | +23.9% |
| Financial charges | 65/66B | €125 | €125 | +€0 | +0.1% |
| Recurring financial charges | 65 | €125 | €125 | +€0 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €479,804 | €594,437 | +€114,633 | +23.9% |
| Income taxes | 67/77 | €115,302 | €145,034 | +€29,732 | +25.8% |
| Profit (loss) for the period | 9904 | €364,502 | €449,403 | +€84,901 | +23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €364,502 | €449,403 | +€84,901 | +23.3% |
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 17 October 2026 via checked.be.