HEGRO: 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.
HEGRO
Largest movements
- Cash -€18,916
down €18,916 (-29.9%), from €63,195 to €44,279
mainly Net result for the year (-€21,788) and Receivables within one year (-€5,498)
- Tangible fixed assets -€7,330
no longer reported in 2025 (was €7,330)
- Receivables within one year +€5,498
up €5,498 (+1.3%), from €418,099 to €423,597
of which Other amounts receivable: +€5,861
- Profit (loss) carried forward -€21,788
down €21,788 (-4.6%), from €470,485 to €448,697
- Depreciation -€5,590
down €5,590 (-49.0%), from €11,397 to €5,807
- Gross operating margin -€5,257
down €5,257 (-61.0%), from -€8,613 to -€13,870
- Other operating charges +€1,383
up €1,383 (+111.3%), from €1,243 to €2,626
- Financial income +€419
up €419 (+77.4%), from €542 to €961
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 | €490,387 | €468,895 | -€21,492 | -4.4% |
| Fixed assets | 21/28 | €7,330 | - | -€7,330 | |
| Tangible fixed assets | 22/27 | €7,330 | - | -€7,330 | |
| Furniture and vehicles | 24 | €7,330 | - | -€7,330 | |
| Current assets | 29/58 | €483,057 | €468,895 | -€14,161 | -2.9% |
| Amounts receivable within one year | 40/41 | €418,099 | €423,597 | +€5,498 | +1.3% |
| Trade receivables | 40 | €363 | - | -€363 | |
| Other amounts receivable | 41 | €417,736 | €423,597 | +€5,861 | +1.4% |
| Cash at bank and in hand | 54/58 | €63,195 | €44,279 | -€18,916 | -29.9% |
| Deferred charges and accrued income | 490/1 | €1,762 | €1,019 | -€743 | -42.2% |
| Total equity and liabilities | 10/49 | €490,387 | €468,895 | -€21,492 | -4.4% |
| Equity | 10/15 | €484,745 | €462,957 | -€21,788 | -4.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €470,485 | €448,697 | -€21,788 | -4.6% |
| Amounts payable | 17/49 | €5,642 | €5,938 | +€296 | +5.2% |
| Amounts payable within one year | 42/48 | €5,642 | €5,938 | +€296 | +5.2% |
| Trade debts | 44 | €3,206 | €2,725 | -€481 | -15.0% |
| Suppliers | 440/4 | €3,206 | €2,725 | -€481 | -15.0% |
| Taxes, remuneration and social security | 45 | €2,436 | €3,213 | +€777 | +31.9% |
| Taxes | 450/3 | €2,436 | €3,213 | +€777 | +31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,397 | €5,807 | -€5,590 | -49.0% |
| Other operating charges | 640/8 | €1,243 | €2,626 | +€1,383 | +111.3% |
| Gross operating margin | 9900 | -€8,613 | -€13,870 | -€5,257 | -61.0% |
| Operating profit (loss) | 9901 | -€21,253 | -€22,303 | -€1,050 | -4.9% |
| Financial income | 75/76B | €542 | €961 | +€419 | +77.4% |
| Recurring financial income | 75 | €542 | €961 | +€419 | +77.4% |
| Financial charges | 65/66B | €134 | €66 | -€68 | -50.6% |
| Recurring financial charges | 65 | €134 | €66 | -€68 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,845 | -€21,408 | -€563 | -2.7% |
| Income taxes | 67/77 | €383 | €380 | -€3 | -0.7% |
| Profit (loss) for the period | 9904 | -€21,228 | -€21,788 | -€560 | -2.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,228 | -€21,788 | -€560 | -2.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.