HEJO: 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.
HEJO
Largest movements
- Tangible fixed assets -€19,763
down €19,763 (-4.0%), from €493,459 to €473,696
of which Land and buildings: -€13,864
- Cash +€10,148
up €10,148 (+148%), from €6,860 to €17,009
mainly Depreciation (+€19,763) and Accrued charges and deferred income (+€1,810)
- Other debts -€6,250
down €6,250 (-72.8%), from €8,586 to €2,336
- Reserves -€6,204
down €6,204 (-4.0%), from €153,589 to €147,385
of which Tax-exempt reserves: -€6,351
- Gross operating margin -€24,319
down €24,319 (-49.6%), from €49,036 to €24,717
- Taxes -€3,914
down €3,914 (-100%), from €3,914 to €0
- Depreciation -€3,777
down €3,777 (-16.0%), from €23,540 to €19,763
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 | €502,051 | €491,357 | -€10,694 | -2.1% |
| Fixed assets | 21/28 | €493,459 | €473,696 | -€19,763 | -4.0% |
| Tangible fixed assets | 22/27 | €493,459 | €473,696 | -€19,763 | -4.0% |
| Land and buildings | 22 | €463,803 | €449,939 | -€13,864 | -3.0% |
| Plant, machinery and equipment | 23 | €29,656 | €23,757 | -€5,899 | -19.9% |
| Current assets | 29/58 | €8,591 | €17,660 | +€9,069 | +106% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,860 | €17,009 | +€10,148 | +148% |
| Deferred charges and accrued income | 490/1 | €1,731 | €652 | -€1,079 | -62.3% |
| Total equity and liabilities | 10/49 | €502,051 | €491,357 | -€10,694 | -2.1% |
| Equity | 10/15 | €488,589 | €482,385 | -€6,204 | -1.3% |
| Contributions | 10/11 | €335,000 | €335,000 | = | 0.0% |
| Capital | 10 | €335,000 | €335,000 | = | 0.0% |
| Issued capital | 100 | €335,000 | €335,000 | = | 0.0% |
| Reserves | 13 | €153,589 | €147,385 | -€6,204 | -4.0% |
| Non-distributable reserves | 130/1 | €33,500 | €33,500 | = | 0.0% |
| Legal reserve | 130 | €33,500 | €33,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,351 | - | -€6,351 | |
| Distributable reserves | 133 | €113,738 | €113,885 | +€147 | +0.1% |
| Amounts payable | 17/49 | €13,461 | €8,972 | -€4,490 | -33.4% |
| Amounts payable within one year | 42/48 | €13,398 | €7,098 | -€6,300 | -47.0% |
| Trade debts | 44 | €898 | €848 | -€50 | -5.6% |
| Suppliers | 440/4 | €898 | €848 | -€50 | -5.6% |
| Taxes, remuneration and social security | 45 | €3,914 | €3,914 | = | 0.0% |
| Taxes | 450/3 | €3,914 | €3,914 | = | 0.0% |
| Other amounts payable | 47/48 | €8,586 | €2,336 | -€6,250 | -72.8% |
| Accrued charges and deferred income | 492/3 | €63 | €1,874 | +€1,810 | +2,855% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,540 | €19,763 | -€3,777 | -16.0% |
| Other operating charges | 640/8 | €11,381 | €11,076 | -€306 | -2.7% |
| Gross operating margin | 9900 | €49,036 | €24,717 | -€24,319 | -49.6% |
| Operating profit (loss) | 9901 | €14,115 | -€6,122 | -€20,237 | |
| Financial charges | 65/66B | €101 | €82 | -€19 | -18.6% |
| Recurring financial charges | 65 | €101 | €82 | -€19 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €14,014 | -€6,204 | -€20,218 | |
| Income taxes | 67/77 | €3,914 | €0 | -€3,914 | -100% |
| Profit (loss) for the period | 9904 | €10,100 | -€6,204 | -€16,304 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,100 | -€6,204 | -€16,304 |
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 15 October 2026 via checked.be.