HEKON: 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.
HEKON
Largest movements
- Receivables within one year +€554,876
up €554,876 (+335.3%), from €165,488 to €720,364
of which Other amounts receivable: +€593,299
- Cash -€498,786
down €498,786 (-70.7%), from €705,188 to €206,402
mainly Receivables within one year (-€554,876) and Investment in fixed assets (net) (-€64,881)
- Intangible fixed assets +€18,054
new in 2025: €18,054
- Trade debts +€96,389
up €96,389 (+104.3%), from €92,421 to €188,810
- Current portion of long-term debt -€14,364
down €14,364 (-26.4%), from €54,361 to €39,997
- Reserves +€13,960
up €13,960 (+1.5%), from €957,693 to €971,654
of which Distributable reserves: +€13,960
- Financial income -€57,932
down €57,932 (-73.4%), from €78,953 to €21,020
- Staff costs -€43,568
down €43,568 (-16.5%), from €264,487 to €220,919
- Depreciation -€13,671
down €13,671 (-25.2%), from €54,187 to €40,516
- Other operating charges -€11,599
down €11,599 (-48.7%), from €23,794 to €12,195
- Financial charges -€9,507
down €9,507 (-76.0%), from €12,509 to €3,002
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 | €1,227,520 | €1,314,619 | +€87,099 | +7.1% |
| Fixed assets | 21/28 | €88,647 | €113,012 | +€24,365 | +27.5% |
| Intangible fixed assets | 21 | - | €18,054 | +€18,054 | |
| Tangible fixed assets | 22/27 | €88,647 | €89,586 | +€940 | +1.1% |
| Land and buildings | 22 | €55,015 | €40,230 | -€14,785 | -26.9% |
| Plant, machinery and equipment | 23 | €518 | €1,895 | +€1,377 | +266.0% |
| Furniture and vehicles | 24 | €33,114 | €47,461 | +€14,347 | +43.3% |
| Financial fixed assets | 28 | - | €5,371 | +€5,371 | |
| Current assets | 29/58 | €1,138,873 | €1,201,607 | +€62,734 | +5.5% |
| Stocks and contracts in progress | 3 | €267,522 | €271,983 | +€4,462 | +1.7% |
| Stocks | 30/36 | €267,522 | €271,983 | +€4,462 | +1.7% |
| Amounts receivable within one year | 40/41 | €165,488 | €720,364 | +€554,876 | +335.3% |
| Trade receivables | 40 | €135,392 | €96,968 | -€38,424 | -28.4% |
| Other amounts receivable | 41 | €30,096 | €623,395 | +€593,299 | +1971.4% |
| Cash at bank and in hand | 54/58 | €705,188 | €206,402 | -€498,786 | -70.7% |
| Deferred charges and accrued income | 490/1 | €675 | €2,858 | +€2,183 | +323.4% |
| Total equity and liabilities | 10/49 | €1,227,520 | €1,314,619 | +€87,099 | +7.1% |
| Equity | 10/15 | €976,293 | €990,254 | +€13,960 | +1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €957,693 | €971,654 | +€13,960 | +1.5% |
| Tax-exempt reserves | 132 | €3,750 | €3,750 | = | 0.0% |
| Distributable reserves | 133 | €953,943 | €967,904 | +€13,960 | +1.5% |
| Amounts payable | 17/49 | €251,226 | €324,365 | +€73,139 | +29.1% |
| Amounts payable after more than one year | 17 | €58,234 | €58,922 | +€688 | +1.2% |
| Financial debts | 170/4 | €58,234 | €58,922 | +€688 | +1.2% |
| Amounts payable within one year | 42/48 | €192,992 | €265,200 | +€72,207 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €54,361 | €39,997 | -€14,364 | -26.4% |
| Trade debts | 44 | €92,421 | €188,810 | +€96,389 | +104.3% |
| Suppliers | 440/4 | €92,421 | €188,810 | +€96,389 | +104.3% |
| Taxes, remuneration and social security | 45 | €46,211 | €36,393 | -€9,818 | -21.2% |
| Taxes | 450/3 | €18,022 | €13,154 | -€4,868 | -27.0% |
| Remuneration and social security | 454/9 | €28,190 | €23,239 | -€4,950 | -17.6% |
| Accrued charges and deferred income | 492/3 | - | €243 | +€243 | |
| Non-recurring operating income | 76A | - | €3,280 | +€3,280 | |
| Remuneration, social security and pensions | 62 | €264,487 | €220,919 | -€43,568 | -16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,187 | €40,516 | -€13,671 | -25.2% |
| Other operating charges | 640/8 | €23,794 | €12,195 | -€11,599 | -48.7% |
| Gross operating margin | 9900 | €278,307 | €269,743 | -€8,564 | -3.1% |
| Operating profit (loss) | 9901 | -€64,160 | -€3,887 | +€60,274 | +93.9% |
| Financial income | 75/76B | €78,953 | €21,020 | -€57,932 | -73.4% |
| Recurring financial income | 75 | €78,953 | €21,020 | -€57,932 | -73.4% |
| Financial charges | 65/66B | €12,509 | €3,002 | -€9,507 | -76.0% |
| Recurring financial charges | 65 | €12,509 | €3,002 | -€9,507 | -76.0% |
| Profit (loss) for the period before taxes | 9903 | €2,284 | €14,132 | +€11,848 | +518.8% |
| Income taxes | 67/77 | €537 | €171 | -€366 | -68.1% |
| Profit (loss) for the period | 9904 | €1,747 | €13,960 | +€12,214 | +699.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,747 | €13,960 | +€12,214 | +699.2% |
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 11 October 2026 via checked.be.