HEGIMA: 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.
What changed
HEGIMA
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€152,072
2024 · €186,335-€34,263
Equity
€9.6m
2024 · €9.5m+€152,072
Cash
€215,321
2024 · €1.0m-€832,253
Balance sheet total
€9.7m
2024 · €9.5m+€152,894
Largest movements
Assets
- Cash -€832,253
down €832,253 (-79.4%), from €1.0m to €215,321
mainly Current investments (-€700,000) and Investment in fixed assets (net) (-€287,991)
- Current investments +€700,000
new in 2025: €700,000
- Financial fixed assets +€287,991
up €287,991 (+3.7%), from €7.7m to €8.0m
of which Affiliated companies: +€287,991
Equity and liabilities
- Reserves +€152,072
up €152,072 (+1.6%), from €9.4m to €9.6m
of which Distributable reserves: +€152,072
Income statement
- Turnover -€44,039
down €44,039 (-53.8%), from €81,839 to €37,800
- Staff costs -€29,389
down €29,389 (-63.9%), from €46,020 to €16,631
- Financial income -€22,575
down €22,575 (-7.4%), from €304,621 to €282,046
- Taxes -€12,680
down €12,680 (-20.0%), from €63,265 to €50,584
of which Taxes: -€12,605
- Services and other goods +€10,610
up €10,610 (+10.8%), from €98,139 to €108,749
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.
Result 2024
€186,335
Turnover
-€44,039
Other operating income
+€747
Services and other goods
-€10,610
Staff costs
+€29,389
Depreciation
-€317
Other operating charges
+€325
Financial income
-€22,575
Financial charges
+€135
Taxes
+€12,680
Result 2025
€152,072
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.
From operations
+€155,738
Investment
-€987,991
Financing
€0
Cash 2024
€1.0m
From operations (derived)
+€155,738
Net result for the year
+€152,072
Depreciation
+€716
Receivables within one year
-€4,001
Deferred charges and accrued income
+€6,129
Smaller working-capital items
+€822
Investment (derived)
-€987,991
Investment in fixed assets (net)
-€287,991
Current investments
-€700,000
Cash 2025
€215,321
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,500,078 | €9,652,972 | +€152,894 | +1.6% |
| Fixed assets | 21/28 | €7,724,456 | €8,011,731 | +€287,275 | +3.7% |
| Tangible fixed assets | 22/27 | €1,749 | €1,033 | -€716 | -40.9% |
| Furniture and vehicles | 24 | €1,749 | €1,033 | -€716 | -40.9% |
| Financial fixed assets | 28 | €7,722,707 | €8,010,698 | +€287,991 | +3.7% |
| Affiliated companies | 280/1 | €7,722,528 | €8,010,519 | +€287,991 | +3.7% |
| Participating interests | 280 | €375,000 | €375,000 | = | 0.0% |
| Amounts receivable | 281 | €7,347,528 | €7,635,519 | +€287,991 | +3.9% |
| Other financial fixed assets | 284/8 | €179 | €179 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €179 | €179 | = | 0.0% |
| Current assets | 29/58 | €1,775,622 | €1,641,241 | -€134,381 | -7.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €630,647 | €634,648 | +€4,001 | +0.6% |
| Trade receivables | 40 | €12,148 | €3,321 | -€8,827 | -72.7% |
| Other amounts receivable | 41 | €618,499 | €631,327 | +€12,828 | +2.1% |
| Current investments | 50/53 | - | €700,000 | +€700,000 | |
| Other investments | 51/53 | - | €700,000 | +€700,000 | |
| Cash at bank and in hand | 54/58 | €1,047,574 | €215,321 | -€832,253 | -79.4% |
| Deferred charges and accrued income | 490/1 | €97,401 | €91,273 | -€6,129 | -6.3% |
| Total equity and liabilities | 10/49 | €9,500,078 | €9,652,972 | +€152,894 | +1.6% |
| Equity | 10/15 | €9,484,891 | €9,636,962 | +€152,072 | +1.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €9,422,891 | €9,574,962 | +€152,072 | +1.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €9,360,441 | €9,512,512 | +€152,072 | +1.6% |
| Amounts payable | 17/49 | €15,187 | €16,009 | +€822 | +5.4% |
| Amounts payable within one year | 42/48 | €15,157 | €16,009 | +€852 | +5.6% |
| Trade debts | 44 | €6,144 | €6,962 | +€818 | +13.3% |
| Suppliers | 440/4 | €6,144 | €6,962 | +€818 | +13.3% |
| Taxes, remuneration and social security | 45 | €3,586 | €3,491 | -€95 | -2.6% |
| Taxes | 450/3 | €930 | €837 | -€93 | -10.1% |
| Remuneration and social security | 454/9 | €2,656 | €2,654 | -€1 | 0.0% |
| Other amounts payable | 47/48 | €5,427 | €5,556 | +€129 | +2.4% |
| Accrued charges and deferred income | 492/3 | €30 | €0 | -€30 | -100.0% |
| Operating income | 70/76A | €91,306 | €48,014 | -€43,292 | -47.4% |
| Turnover | 70 | €81,839 | €37,800 | -€44,039 | -53.8% |
| Other operating income | 74 | €9,468 | €10,214 | +€747 | +7.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €146,152 | €127,364 | -€18,788 | -12.9% |
| Services and other goods | 61 | €98,139 | €108,749 | +€10,610 | +10.8% |
| Remuneration, social security and pensions | 62 | €46,020 | €16,631 | -€29,389 | -63.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €399 | €716 | +€317 | +79.4% |
| Other operating charges | 640/8 | €1,594 | €1,269 | -€325 | -20.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | -€54,846 | -€79,349 | -€24,504 | -44.7% |
| Financial income | 75/76B | €304,621 | €282,046 | -€22,575 | -7.4% |
| Recurring financial income | 75 | €304,621 | €282,046 | -€22,575 | -7.4% |
| Income from financial fixed assets | 750 | €0 | €282,046 | +€282,046 | |
| Income from current assets | 751 | €304,621 | €0 | -€304,621 | -100.0% |
| Other financial income | 752/9 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €176 | €40 | -€135 | -77.0% |
| Recurring financial charges | 65 | €176 | €40 | -€135 | -77.0% |
| Debt charges | 650 | €0 | - | = | |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €0 | - | = | |
| Other financial charges | 652/9 | €176 | €40 | -€135 | -77.0% |
| Profit (loss) for the period before taxes | 9903 | €249,600 | €202,656 | -€46,944 | -18.8% |
| Income taxes | 67/77 | €63,265 | €50,584 | -€12,680 | -20.0% |
| Taxes | 670/3 | €63,265 | €50,660 | -€12,605 | -19.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €76 | +€76 | |
| Profit (loss) for the period | 9904 | €186,335 | €152,072 | -€34,263 | -18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €186,335 | €152,072 | -€34,263 | -18.4% |
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.