HEMAN: 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.
HEMAN
Largest movements
- Receivables within one year +€155,831
up €155,831 (+79.7%), from €195,543 to €351,374
of which Trade receivables: +€91,117
- Tangible fixed assets -€28,079
down €28,079 (-24.1%), from €116,544 to €88,465
of which Furniture and vehicles: -€23,560
- Stocks and contracts +€22,111
up €22,111 (+40.0%), from €55,256 to €77,366
- Cash +€7,062
up €7,062 (+6.4%), from €109,738 to €116,801
mainly Net result for the year (+€118,389) and Trade debts (+€37,961)
- Profit (loss) carried forward +€118,389
up €118,389 (+80.4%), from €147,180 to €265,569
- Trade debts +€37,961
up €37,961 (+30.0%), from €126,588 to €164,549
- Debts after one year -€15,511
down €15,511 (-28.7%), from €54,026 to €38,515
- Tax, wage and social debts +€14,519
up €14,519 (+61.3%), from €23,694 to €38,213
of which Taxes: +€13,551
- Turnover -€1.4m
no longer reported in 2025 (was €1.4m)
- Purchases and services -€1.1m
no longer reported in 2025 (was €1.1m)
- Gross operating margin +€90,030
up €90,030 (+28.4%), from €316,951 to €406,980
- Financial charges +€35,760
up €35,760 (+269.4%), from €13,272 to €49,031
of which Non-recurring financial charges: +€27,613
- Staff costs -€34,214
down €34,214 (-14.7%), from €232,412 to €198,198
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 | €481,547 | €634,006 | +€152,460 | +31.7% |
| Fixed assets | 21/28 | €116,544 | €88,465 | -€28,079 | -24.1% |
| Tangible fixed assets | 22/27 | €116,544 | €88,465 | -€28,079 | -24.1% |
| Plant, machinery and equipment | 23 | €8,467 | €4,987 | -€3,480 | -41.1% |
| Furniture and vehicles | 24 | €105,758 | €82,198 | -€23,560 | -22.3% |
| Other tangible fixed assets | 26 | €2,319 | €1,280 | -€1,039 | -44.8% |
| Current assets | 29/58 | €365,003 | €545,541 | +€180,538 | +49.5% |
| Stocks and contracts in progress | 3 | €55,256 | €77,366 | +€22,111 | +40.0% |
| Stocks | 30/36 | €55,256 | €77,366 | +€22,111 | +40.0% |
| Amounts receivable within one year | 40/41 | €195,543 | €351,374 | +€155,831 | +79.7% |
| Trade receivables | 40 | €190,305 | €281,423 | +€91,117 | +47.9% |
| Other amounts receivable | 41 | €5,237 | €69,951 | +€64,714 | +1235.7% |
| Cash at bank and in hand | 54/58 | €109,738 | €116,801 | +€7,062 | +6.4% |
| Deferred charges and accrued income | 490/1 | €4,466 | - | -€4,466 | |
| Total equity and liabilities | 10/49 | €481,547 | €634,006 | +€152,460 | +31.7% |
| Equity | 10/15 | €251,575 | €369,964 | +€118,389 | +47.1% |
| Contributions | 10/11 | €14,500 | €14,500 | = | 0.0% |
| Reserves | 13 | €89,895 | €89,895 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €88,035 | €88,035 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,180 | €265,569 | +€118,389 | +80.4% |
| Amounts payable | 17/49 | €229,971 | €264,042 | +€34,071 | +14.8% |
| Amounts payable after more than one year | 17 | €54,026 | €38,515 | -€15,511 | -28.7% |
| Financial debts | 170/4 | €54,026 | €38,515 | -€15,511 | -28.7% |
| Amounts payable within one year | 42/48 | €175,945 | €225,527 | +€49,581 | +28.2% |
| Current portion of amounts payable after more than one year | 42 | €22,694 | €19,796 | -€2,898 | -12.8% |
| Trade debts | 44 | €126,588 | €164,549 | +€37,961 | +30.0% |
| Suppliers | 440/4 | €126,588 | €164,549 | +€37,961 | +30.0% |
| Taxes, remuneration and social security | 45 | €23,694 | €38,213 | +€14,519 | +61.3% |
| Taxes | 450/3 | - | €13,551 | +€13,551 | |
| Remuneration and social security | 454/9 | €23,694 | €24,661 | +€968 | +4.1% |
| Other amounts payable | 47/48 | €2,969 | €2,969 | = | 0.0% |
| Turnover | 70 | €1,404,372 | - | -€1.4m | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,087,422 | - | -€1.1m | |
| Remuneration, social security and pensions | 62 | €232,412 | €198,198 | -€34,214 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,290 | €28,785 | +€10,495 | +57.4% |
| Other operating charges | 640/8 | €8,315 | €3,360 | -€4,955 | -59.6% |
| Gross operating margin | 9900 | €316,951 | €406,980 | +€90,030 | +28.4% |
| Operating profit (loss) | 9901 | €57,934 | €176,637 | +€118,704 | +204.9% |
| Financial income | 75/76B | €1,787 | €5,332 | +€3,545 | +198.3% |
| Recurring financial income | 75 | €1,787 | €5,332 | +€3,545 | +198.3% |
| Financial charges | 65/66B | €13,272 | €49,031 | +€35,760 | +269.4% |
| Recurring financial charges | 65 | €1,707 | €9,854 | +€8,147 | +477.2% |
| Non-recurring financial charges | 66B | €11,565 | €39,178 | +€27,613 | +238.8% |
| Profit (loss) for the period before taxes | 9903 | €46,449 | €132,938 | +€86,489 | +186.2% |
| Income taxes | 67/77 | €17,471 | €14,549 | -€2,922 | -16.7% |
| Profit (loss) for the period | 9904 | €28,978 | €118,389 | +€89,411 | +308.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,978 | €118,389 | +€89,411 | +308.5% |
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.