HEFRACON: 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.
HEFRACON
Largest movements
- Receivables within one year -€210,428
down €210,428 (-78.2%), from €269,033 to €58,604
of which Trade receivables: -€218,038
- Deferred charges and accrued income +€171,793
up €171,793 (+2141.9%), from €8,021 to €179,814
- Cash +€74,699
up €74,699 (+62.5%), from €119,554 to €194,254
mainly Receivables within one year (+€210,428) and Other debts (+€125,603)
- Tangible fixed assets -€14,287
down €14,287 (-23.5%), from €60,691 to €46,403
of which Furniture and vehicles: -€13,715
- Other debts +€125,603
up €125,603 (+45.5%), from €275,822 to €401,425
- Profit (loss) carried forward -€82,259
down €82,259 (-68.2%), from €120,564 to €38,305
- Debts after one year -€16,163
down €16,163 (-75.2%), from €21,491 to €5,328
- Current portion of long-term debt -€6,332
down €6,332 (-27.6%), from €22,918 to €16,585
- Tax, wage and social debts +€5,365
up €5,365 (+33.3%), from €16,127 to €21,491
of which Remuneration and social security: +€6,500
- Gross operating margin -€25,183
down €25,183 (-13.8%), from €182,651 to €157,467
- Financial charges +€8,274
up €8,274 (+72.1%), from €11,473 to €19,747
- Taxes -€7,927
down €7,927 (-23.1%), from €34,369 to €26,442
- Financial income -€2,035
down €2,035 (-90.2%), from €2,258 to €222
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 | €482,298 | €504,076 | +€21,777 | +4.5% |
| Fixed assets | 21/28 | €85,691 | €71,403 | -€14,287 | -16.7% |
| Tangible fixed assets | 22/27 | €60,691 | €46,403 | -€14,287 | -23.5% |
| Plant, machinery and equipment | 23 | €3,872 | €3,300 | -€572 | -14.8% |
| Furniture and vehicles | 24 | €56,819 | €43,104 | -€13,715 | -24.1% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €396,608 | €432,672 | +€36,064 | +9.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €269,033 | €58,604 | -€210,428 | -78.2% |
| Trade receivables | 40 | €262,233 | €44,194 | -€218,038 | -83.1% |
| Other amounts receivable | 41 | €6,800 | €14,410 | +€7,610 | +111.9% |
| Cash at bank and in hand | 54/58 | €119,554 | €194,254 | +€74,699 | +62.5% |
| Deferred charges and accrued income | 490/1 | €8,021 | €179,814 | +€171,793 | +2141.9% |
| Total equity and liabilities | 10/49 | €482,298 | €504,076 | +€21,777 | +4.5% |
| Equity | 10/15 | €140,969 | €58,710 | -€82,259 | -58.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,564 | €38,305 | -€82,259 | -68.2% |
| Amounts payable | 17/49 | €341,330 | €445,366 | +€104,036 | +30.5% |
| Amounts payable after more than one year | 17 | €21,491 | €5,328 | -€16,163 | -75.2% |
| Financial debts | 170/4 | €21,491 | €5,328 | -€16,163 | -75.2% |
| Amounts payable within one year | 42/48 | €319,371 | €440,038 | +€120,667 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €22,918 | €16,585 | -€6,332 | -27.6% |
| Trade debts | 44 | €4,505 | €537 | -€3,968 | -88.1% |
| Suppliers | 440/4 | €4,505 | €537 | -€3,968 | -88.1% |
| Taxes, remuneration and social security | 45 | €16,127 | €21,491 | +€5,365 | +33.3% |
| Taxes | 450/3 | €16,127 | €14,991 | -€1,135 | -7.0% |
| Remuneration and social security | 454/9 | - | €6,500 | +€6,500 | |
| Other amounts payable | 47/48 | €275,822 | €401,425 | +€125,603 | +45.5% |
| Accrued charges and deferred income | 492/3 | €468 | €0 | -€468 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,660 | €17,667 | +€7 | 0.0% |
| Other operating charges | 640/8 | €843 | €1,092 | +€249 | +29.5% |
| Gross operating margin | 9900 | €182,651 | €157,467 | -€25,183 | -13.8% |
| Operating profit (loss) | 9901 | €164,147 | €138,708 | -€25,439 | -15.5% |
| Financial income | 75/76B | €2,258 | €222 | -€2,035 | -90.2% |
| Recurring financial income | 75 | €2,258 | €222 | -€2,035 | -90.2% |
| Financial charges | 65/66B | €11,473 | €19,747 | +€8,274 | +72.1% |
| Recurring financial charges | 65 | €11,473 | €19,747 | +€8,274 | +72.1% |
| Profit (loss) for the period before taxes | 9903 | €154,932 | €119,183 | -€35,749 | -23.1% |
| Income taxes | 67/77 | €34,369 | €26,442 | -€7,927 | -23.1% |
| Profit (loss) for the period | 9904 | €120,564 | €92,741 | -€27,822 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €120,564 | €92,741 | -€27,822 | -23.1% |
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 4 October 2026 via checked.be.