HEMAG: 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.
What changed
HEMAG
NACE 28.410, Manufacture of machinery and equipment not elsewhere classified
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€727,166
2024 · -€474,679-€252,487
Equity
€2.6m
2024 · €3.4m-€727,166
Cash
€29,176
2024 · €16,682+€12,495
Balance sheet total
€6.6m
2024 · €7.8m-€1.2m
Largest movements
Assets
- Receivables within one year -€756,670
down €756,670 (-28.9%), from €2.6m to €1.9m
of which Other amounts receivable: -€1.4m
- Tangible fixed assets -€204,096
down €204,096 (-11.4%), from €1.8m to €1.6m
- Intangible fixed assets -€164,608
down €164,608 (-15.4%), from €1.1m to €900,984
Equity and liabilities
- Advances received -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
- Debts after one year +€1.1m
up €1.1m (+487.1%), from €232,964 to €1.4m
- Profit (loss) carried forward -€727,166
down €727,166 (-44.6%), from €1.6m to €902,355
- Trade debts -€438,841
down €438,841 (-26.7%), from €1.6m to €1.2m
- Other debts +€99,895
up €99,895 (+24.0%), from €416,270 to €516,166
Income statement
- Other operating charges +€578,164
up €578,164 (+1786.0%), from €32,373 to €610,537
- Gross operating margin +€283,601
up €283,601 (+56.9%), from €498,166 to €781,767
- Write-downs -€102,787
down €102,787 (-100.0%), from €102,787 to €0
- Staff costs +€32,042
up €32,042 (+8.3%), from €384,155 to €416,197
- Financial charges +€29,553
up €29,553 (+33.7%), from €87,810 to €117,363
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.
Result 2024
-€474,679
Gross operating margin
+€283,601
Staff costs
-€32,042
Depreciation
+€2,958
Write-downs
+€102,787
Provisions
-€10,000
Other operating charges
-€578,164
Financial income
+€8,055
Financial charges
-€29,553
Taxes
-€129
Result 2025
-€727,166
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.
From operations
-€1.1m
Investment
-€293
Financing
+€1.1m
Cash 2024
€16,682
From operations (derived)
-€1.1m
Net result for the year
-€727,166
Depreciation
+€368,997
Stocks and contracts
+€18,873
Receivables within one year
+€756,670
Deferred charges and accrued income
+€31,542
Provisions
+€10,000
Trade debts
-€438,841
Tax, wage and social debts
+€14,956
Advances received
-€1.3m
Other debts
+€99,895
Accrued charges and deferred income
-€9,436
Investment (derived)
-€293
Investment in fixed assets (net)
-€293
Financing
+€1.1m
Debts after one year
+€1.1m
Current portion of long-term debt
+€2,501
Cash 2025
€29,176
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,804,120 | €6,640,826 | -€1.2m | -14.9% |
| Fixed assets | 21/28 | €4,982,718 | €4,614,014 | -€368,704 | -7.4% |
| Intangible fixed assets | 21 | €1,065,592 | €900,984 | -€164,608 | -15.4% |
| Tangible fixed assets | 22/27 | €1,786,702 | €1,582,606 | -€204,096 | -11.4% |
| Land and buildings | 22 | €933,569 | €873,823 | -€59,746 | -6.4% |
| Plant, machinery and equipment | 23 | €284,929 | €213,822 | -€71,107 | -25.0% |
| Furniture and vehicles | 24 | €6,491 | €3,463 | -€3,029 | -46.7% |
| Leasing and similar rights | 25 | €561,712 | €491,498 | -€70,214 | -12.5% |
| Financial fixed assets | 28 | €2,130,424 | €2,130,424 | = | 0.0% |
| Current assets | 29/58 | €2,821,402 | €2,026,812 | -€794,591 | -28.2% |
| Stocks and contracts in progress | 3 | €141,266 | €122,393 | -€18,873 | -13.4% |
| Stocks | 30/36 | €141,266 | €122,393 | -€18,873 | -13.4% |
| Amounts receivable within one year | 40/41 | €2,617,096 | €1,860,425 | -€756,670 | -28.9% |
| Trade receivables | 40 | €836,506 | €1,449,746 | +€613,239 | +73.3% |
| Other amounts receivable | 41 | €1,780,589 | €410,680 | -€1.4m | -76.9% |
| Cash at bank and in hand | 54/58 | €16,682 | €29,176 | +€12,495 | +74.9% |
| Deferred charges and accrued income | 490/1 | €46,359 | €14,817 | -€31,542 | -68.0% |
| Total equity and liabilities | 10/49 | €7,804,120 | €6,640,826 | -€1.2m | -14.9% |
| Equity | 10/15 | €3,359,171 | €2,632,005 | -€727,166 | -21.6% |
| Contributions | 10/11 | €1,276,652 | €1,276,652 | = | 0.0% |
| Capital | 10 | €1,276,652 | €1,276,652 | = | 0.0% |
| Issued capital | 100 | €1,276,652 | €1,276,652 | = | 0.0% |
| Revaluation surpluses | 12 | €325,334 | €325,334 | = | 0.0% |
| Reserves | 13 | €127,665 | €127,665 | = | 0.0% |
| Non-distributable reserves | 130/1 | €127,665 | €127,665 | = | 0.0% |
| Legal reserve | 130 | €127,665 | €127,665 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,629,521 | €902,355 | -€727,166 | -44.6% |
| Provisions and deferred taxes | 16 | - | €10,000 | +€10,000 | |
| Provisions for liabilities and charges | 160/5 | - | €10,000 | +€10,000 | |
| Pensions and similar obligations | 160 | - | €10,000 | +€10,000 | |
| Amounts payable | 17/49 | €4,444,949 | €3,998,820 | -€446,129 | -10.0% |
| Amounts payable after more than one year | 17 | €232,964 | €1,367,760 | +€1.1m | +487.1% |
| Financial debts | 170/4 | €232,964 | €1,367,760 | +€1.1m | +487.1% |
| Amounts payable within one year | 42/48 | €4,202,549 | €2,631,060 | -€1.6m | -37.4% |
| Current portion of amounts payable after more than one year | 42 | €112,704 | €115,204 | +€2,501 | +2.2% |
| Financial debts | 43 | €750,000 | €750,000 | = | 0.0% |
| Credit institutions | 430/8 | €750,000 | €750,000 | = | 0.0% |
| Trade debts | 44 | €1,643,391 | €1,204,550 | -€438,841 | -26.7% |
| Suppliers | 440/4 | €1,643,391 | €1,204,550 | -€438,841 | -26.7% |
| Advances received on contracts in progress | 46 | €1,250,000 | €0 | -€1.3m | -100.0% |
| Taxes, remuneration and social security | 45 | €30,184 | €45,140 | +€14,956 | +49.6% |
| Taxes | 450/3 | €5,540 | €3,271 | -€2,269 | -41.0% |
| Remuneration and social security | 454/9 | €24,644 | €41,869 | +€17,225 | +69.9% |
| Other amounts payable | 47/48 | €416,270 | €516,166 | +€99,895 | +24.0% |
| Accrued charges and deferred income | 492/3 | €9,436 | €0 | -€9,436 | -100.0% |
| Non-recurring operating income | 76A | €726,132 | €0 | -€726,132 | -100.0% |
| Remuneration, social security and pensions | 62 | €384,155 | €416,197 | +€32,042 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €371,955 | €368,997 | -€2,958 | -0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €102,787 | €0 | -€102,787 | -100.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €32,373 | €610,537 | +€578,164 | +1786.0% |
| Gross operating margin | 9900 | €498,166 | €781,767 | +€283,601 | +56.9% |
| Operating profit (loss) | 9901 | -€393,104 | -€623,963 | -€230,859 | -58.7% |
| Financial income | 75/76B | €6,462 | €14,517 | +€8,055 | +124.7% |
| Recurring financial income | 75 | €6,462 | €14,517 | +€8,055 | +124.7% |
| Financial charges | 65/66B | €87,810 | €117,363 | +€29,553 | +33.7% |
| Recurring financial charges | 65 | €87,810 | €117,363 | +€29,553 | +33.7% |
| Profit (loss) for the period before taxes | 9903 | -€474,452 | -€726,810 | -€252,357 | -53.2% |
| Income taxes | 67/77 | €227 | €356 | +€129 | +57.1% |
| Profit (loss) for the period | 9904 | -€474,679 | -€727,166 | -€252,487 | -53.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€474,679 | -€727,166 | -€252,487 | -53.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.