HEGA-Management: 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.
HEGA-Management
Largest movements
- Tangible fixed assets -€14,526
down €14,526 (-38.7%), from €37,544 to €23,018
- Cash +€5,417
up €5,417 (+3.2%), from €168,214 to €173,631
mainly Net result for the year (+€101,625) and Depreciation (+€14,526)
- Other debts -€8,409
down €8,409 (-7.6%), from €110,199 to €101,791
- Gross operating margin -€1,896
down €1,896 (-1.2%), from €154,831 to €152,935
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 | €206,710 | €197,653 | -€9,058 | -4.4% |
| Fixed assets | 21/28 | €37,544 | €23,018 | -€14,526 | -38.7% |
| Tangible fixed assets | 22/27 | €37,544 | €23,018 | -€14,526 | -38.7% |
| Furniture and vehicles | 24 | €37,544 | €23,018 | -€14,526 | -38.7% |
| Current assets | 29/58 | €169,166 | €174,634 | +€5,468 | +3.2% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €168,214 | €173,631 | +€5,417 | +3.2% |
| Deferred charges and accrued income | 490/1 | €952 | €1,003 | +€51 | +5.4% |
| Total equity and liabilities | 10/49 | €206,710 | €197,653 | -€9,058 | -4.4% |
| Equity | 10/15 | €90,013 | €91,638 | +€1,625 | +1.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €60,013 | €61,638 | +€1,625 | +2.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €60,013 | €61,638 | +€1,625 | +2.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €116,698 | €106,015 | -€10,683 | -9.2% |
| Amounts payable within one year | 42/48 | €116,505 | €105,817 | -€10,688 | -9.2% |
| Trade debts | 44 | €1,385 | €297 | -€1,088 | -78.6% |
| Suppliers | 440/4 | €1,385 | €297 | -€1,088 | -78.6% |
| Taxes, remuneration and social security | 45 | €4,921 | €3,729 | -€1,192 | -24.2% |
| Taxes | 450/3 | €4,921 | €3,729 | -€1,192 | -24.2% |
| Other amounts payable | 47/48 | €110,199 | €101,791 | -€8,409 | -7.6% |
| Accrued charges and deferred income | 492/3 | €193 | €198 | +€6 | +2.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,517 | €14,526 | +€9 | +0.1% |
| Other operating charges | 640/8 | €1,132 | €841 | -€291 | -25.7% |
| Gross operating margin | 9900 | €154,831 | €152,935 | -€1,896 | -1.2% |
| Operating profit (loss) | 9901 | €139,182 | €137,568 | -€1,613 | -1.2% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €159 | €156 | -€3 | -1.8% |
| Recurring financial charges | 65 | €159 | €156 | -€3 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €139,023 | €137,412 | -€1,611 | -1.2% |
| Income taxes | 67/77 | €36,110 | €35,787 | -€323 | -0.9% |
| Profit (loss) for the period | 9904 | €102,913 | €101,625 | -€1,288 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €102,913 | €101,625 | -€1,288 | -1.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.