HEMAR: 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.
HEMAR
Largest movements
- Receivables within one year -€13,857
down €13,857 (-90.2%), from €15,364 to €1,507
of which Trade receivables: -€13,857
- Stocks and contracts -€11,976
down €11,976 (-65.6%), from €18,256 to €6,280
- Tangible fixed assets -€3,386
down €3,386 (-46.8%), from €7,234 to €3,848
- Cash -€928
down €928 (-72.0%), from €1,289 to €360
mainly Trade debts (-€38,631) and Net result for the year (-€34,118)
- Trade debts -€38,631
down €38,631 (-92.8%), from €41,642 to €3,010
- Profit (loss) carried forward -€34,118
down €34,118 (-9.9%), from -€343,934 to -€378,053
- Debts after one year +€25,073
up €25,073 (+15.0%), from €167,000 to €192,073
- Other debts +€16,942
up €16,942 (+15.5%), from €109,234 to €126,176
- Tax, wage and social debts +€627
up €627 (+27614.5%), from €2 to €629
- Other operating charges +€19,036
up €19,036 (+2652.7%), from €718 to €19,753
- Gross operating margin -€6,930
down €6,930 (-176.9%), from -€3,916 to -€10,846
- Depreciation +€1,102
up €1,102 (+48.2%), from €2,284 to €3,386
- Staff costs +€198
no longer reported in 2025 (was -€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 | €42,143 | €12,035 | -€30,108 | -71.4% |
| Fixed assets | 21/28 | €7,234 | €3,848 | -€3,386 | -46.8% |
| Tangible fixed assets | 22/27 | €7,234 | €3,848 | -€3,386 | -46.8% |
| Other tangible fixed assets | 26 | €7,234 | €3,848 | -€3,386 | -46.8% |
| Current assets | 29/58 | €34,909 | €8,187 | -€26,722 | -76.5% |
| Stocks and contracts in progress | 3 | €18,256 | €6,280 | -€11,976 | -65.6% |
| Stocks | 30/36 | €18,256 | €6,280 | -€11,976 | -65.6% |
| Amounts receivable within one year | 40/41 | €15,364 | €1,507 | -€13,857 | -90.2% |
| Trade receivables | 40 | €15,128 | €1,271 | -€13,857 | -91.6% |
| Other amounts receivable | 41 | €236 | €236 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,289 | €360 | -€928 | -72.0% |
| Deferred charges and accrued income | 490/1 | - | €40 | +€40 | |
| Total equity and liabilities | 10/49 | €42,143 | €12,035 | -€30,108 | -71.4% |
| Equity | 10/15 | -€275,734 | -€309,853 | -€34,118 | -12.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€343,934 | -€378,053 | -€34,118 | -9.9% |
| Amounts payable | 17/49 | €317,878 | €321,888 | +€4,010 | +1.3% |
| Amounts payable after more than one year | 17 | €167,000 | €192,073 | +€25,073 | +15.0% |
| Financial debts | 170/4 | €167,000 | €192,073 | +€25,073 | +15.0% |
| Amounts payable within one year | 42/48 | €150,878 | €129,815 | -€21,063 | -14.0% |
| Trade debts | 44 | €41,642 | €3,010 | -€38,631 | -92.8% |
| Suppliers | 440/4 | €41,642 | €3,010 | -€38,631 | -92.8% |
| Taxes, remuneration and social security | 45 | €2 | €629 | +€627 | +27614.5% |
| Taxes | 450/3 | €2 | €629 | +€627 | +27614.5% |
| Other amounts payable | 47/48 | €109,234 | €126,176 | +€16,942 | +15.5% |
| Remuneration, social security and pensions | 62 | -€198 | - | +€198 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,284 | €3,386 | +€1,102 | +48.2% |
| Other operating charges | 640/8 | €718 | €19,753 | +€19,036 | +2652.7% |
| Gross operating margin | 9900 | -€3,916 | -€10,846 | -€6,930 | -176.9% |
| Operating profit (loss) | 9901 | -€6,720 | -€33,985 | -€27,265 | -405.7% |
| Financial charges | 65/66B | €127 | €133 | +€6 | +4.5% |
| Recurring financial charges | 65 | €127 | €133 | +€6 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,847 | -€34,118 | -€27,271 | -398.3% |
| Profit (loss) for the period | 9904 | -€6,847 | -€34,118 | -€27,271 | -398.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,847 | -€34,118 | -€27,271 | -398.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.