HEKDO: 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.
HEKDO
Largest movements
- Financial fixed assets +€2.7m
up €2.7m (+12.6%), from €21.7m to €24.4m
- Debts +€2.7m
up €2.7m (+19.9%), from €13.4m to €16.1m
of which Debts within one year: +€10.8m
- Gross operating margin -€20,405
down €20,405 (-21.9%), from -€93,240 to -€113,645
From the 2019 result to the 2020 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2019 | 2020 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,076,803 | €39,718,712 | +€2.6m | +7.1% |
| Fixed assets | 21/28 | €25,198,714 | €27,834,028 | +€2.6m | +10.5% |
| Tangible fixed assets | 22/27 | €3,537,616 | €3,441,917 | -€95,699 | -2.7% |
| Financial fixed assets | 28 | €21,661,098 | €24,392,110 | +€2.7m | +12.6% |
| Current assets | 29/58 | €11,878,089 | €11,884,685 | +€6,596 | +0.1% |
| Amounts receivable within one year | 40/41 | €2,843,315 | €2,945,864 | +€102,548 | +3.6% |
| Current investments | 50/53 | €8,079,213 | €8,138,698 | +€59,485 | +0.7% |
| Cash at bank and in hand | 54/58 | €677,505 | €434,121 | -€243,384 | -35.9% |
| Total equity and liabilities | 10/49 | €37,076,803 | €39,718,712 | +€2.6m | +7.1% |
| Equity | 10/15 | €23,657,831 | €23,626,516 | -€31,315 | -0.1% |
| Contributions | 10/11 | €8,061,500 | €8,061,500 | = | 0.0% |
| Reserves | 13 | €786,142 | €15,565,016 | +€14.8m | +1879.9% |
| Profit (loss) carried forward | 14 | €14,810,189 | €14,322,709 | -€487,481 | -3.3% |
| Amounts payable | 17/49 | €13,418,972 | €16,092,196 | +€2.7m | +19.9% |
| Amounts payable after more than one year | 17 | €8,125,000 | €0 | -€8.1m | -100.0% |
| Amounts payable within one year | 42/48 | €5,242,040 | €16,083,142 | +€10.8m | +206.8% |
| Trade debts | 44 | €33,023 | €28,724 | -€4,299 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,111 | €95,699 | -€412 | -0.4% |
| Gross operating margin | 9900 | -€93,240 | -€113,645 | -€20,405 | -21.9% |
| Operating profit (loss) | 9901 | -€217,280 | -€249,024 | -€31,744 | -14.6% |
| Recurring financial income | 75 | €636,583 | €370,809 | -€265,773 | -41.8% |
| Recurring financial charges | 65 | -€249,033 | €153,139 | +€402,172 | |
| Profit (loss) for the period before taxes | 9903 | €487,520 | -€31,354 | -€518,873 | |
| Income taxes | 67/77 | €39 | -€39 | -€78 | |
| Profit (loss) for the period | 9904 | €487,481 | -€31,315 | -€518,796 | |
| Profit (loss) for the period to be appropriated | 9905 | €487,481 | -€31,315 | -€518,796 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2019 and 31 December 2020. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.