HEMADIS: 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.
HEMADIS
Largest movements
- Tangible fixed assets +€221,476
up €221,476 (+409.9%), from €54,037 to €275,513
of which Plant, machinery and equipment: +€157,546
- Cash -€4,633
down €4,633 (-7.1%), from €65,386 to €60,753
mainly Investment in fixed assets (net) (-€255,427) and Tax, wage and social debts (-€17,474)
- Debts after one year +€191,852
up €191,852 (+929.6%), from €20,638 to €212,490
- Current portion of long-term debt +€23,203
up €23,203 (+407.8%), from €5,689 to €28,892
- Tax, wage and social debts -€17,474
down €17,474 (-60.7%), from €28,792 to €11,318
of which Remuneration and social security: -€15,033
- Profit (loss) carried forward +€16,143
up €16,143 (+26.1%), from €61,959 to €78,102
- Staff costs -€31,866
down €31,866 (-23.0%), from €138,259 to €106,393
- Depreciation +€20,986
up €20,986 (+161.9%), from €12,964 to €33,950
- Gross operating margin -€6,749
down €6,749 (-4.0%), from €170,179 to €163,430
- Financial charges +€5,661
up €5,661 (+358.1%), from €1,581 to €7,242
- Taxes +€3,058
new in 2025: €3,058
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 | €203,175 | €417,625 | +€214,450 | +105.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €54,037 | €275,513 | +€221,476 | +409.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €54,037 | €275,513 | +€221,476 | +409.9% |
| Land and buildings | 22 | €5,828 | €69,758 | +€63,930 | +1096.9% |
| Plant, machinery and equipment | 23 | €48,209 | €205,755 | +€157,546 | +326.8% |
| Current assets | 29/58 | €149,138 | €142,112 | -€7,026 | -4.7% |
| Stocks and contracts in progress | 3 | €25,480 | €22,212 | -€3,268 | -12.8% |
| Stocks | 30/36 | €25,480 | €22,212 | -€3,268 | -12.8% |
| Amounts receivable within one year | 40/41 | €58,272 | €59,147 | +€875 | +1.5% |
| Trade receivables | 40 | €21,184 | €13,795 | -€7,389 | -34.9% |
| Other amounts receivable | 41 | €37,088 | €45,352 | +€8,264 | +22.3% |
| Cash at bank and in hand | 54/58 | €65,386 | €60,753 | -€4,633 | -7.1% |
| Total equity and liabilities | 10/49 | €203,175 | €417,625 | +€214,450 | +105.5% |
| Equity | 10/15 | €80,558 | €96,701 | +€16,143 | +20.0% |
| Contributions | 10/11 | €18,599 | €18,599 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,959 | €78,102 | +€16,143 | +26.1% |
| Amounts payable | 17/49 | €122,617 | €320,924 | +€198,307 | +161.7% |
| Amounts payable after more than one year | 17 | €20,638 | €212,490 | +€191,852 | +929.6% |
| Financial debts | 170/4 | €20,638 | €212,490 | +€191,852 | +929.6% |
| Amounts payable within one year | 42/48 | €101,979 | €108,434 | +€6,455 | +6.3% |
| Current portion of amounts payable after more than one year | 42 | €5,689 | €28,892 | +€23,203 | +407.8% |
| Trade debts | 44 | €67,497 | €68,224 | +€727 | +1.1% |
| Suppliers | 440/4 | €67,497 | €68,224 | +€727 | +1.1% |
| Taxes, remuneration and social security | 45 | €28,792 | €11,318 | -€17,474 | -60.7% |
| Taxes | 450/3 | €2,442 | - | -€2,442 | |
| Remuneration and social security | 454/9 | €26,351 | €11,318 | -€15,033 | -57.0% |
| Remuneration, social security and pensions | 62 | €138,259 | €106,393 | -€31,866 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,964 | €33,950 | +€20,986 | +161.9% |
| Other operating charges | 640/8 | €281 | €1,138 | +€857 | +304.8% |
| Gross operating margin | 9900 | €170,179 | €163,430 | -€6,749 | -4.0% |
| Operating profit (loss) | 9901 | €18,675 | €21,949 | +€3,274 | +17.5% |
| Financial income | 75/76B | €4,900 | €4,494 | -€405 | -8.3% |
| Recurring financial income | 75 | €4,900 | €4,494 | -€405 | -8.3% |
| Financial charges | 65/66B | €1,581 | €7,242 | +€5,661 | +358.1% |
| Recurring financial charges | 65 | €1,581 | €7,242 | +€5,661 | +358.1% |
| Profit (loss) for the period before taxes | 9903 | €21,993 | €19,201 | -€2,793 | -12.7% |
| Income taxes | 67/77 | - | €3,058 | +€3,058 | |
| Profit (loss) for the period | 9904 | €21,993 | €16,143 | -€5,851 | -26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,993 | €16,143 | -€5,851 | -26.6% |
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 9 October 2026 via checked.be.