HEMAR CONSTRUCT: 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
HEMAR CONSTRUCT
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €394,812+€812,518
Equity
€7.5m
2024 · €6.6m+€957,330
Cash
€620,083
2024 · €838,024-€217,941
Balance sheet total
€11.0m
2024 · €11.1m-€88,472
Largest movements
Assets
- Current investments +€2.6m
up €2.6m (+147.2%), from €1.8m to €4.3m
- Stocks and contracts -€2.4m
down €2.4m (-54.3%), from €4.4m to €2.0m
of which Contracts in progress: -€2.4m
- Receivables within one year -€309,607
down €309,607 (-13.8%), from €2.2m to €1.9m
of which Other amounts receivable: -€1.4m
- Tangible fixed assets +€239,139
up €239,139 (+13.2%), from €1.8m to €2.0m
of which Plant, machinery and equipment: +€347,977
- Cash -€217,941
down €217,941 (-26.0%), from €838,024 to €620,083
mainly Current investments (-€2.6m) and Other debts (-€788,264)
Equity and liabilities
- Profit (loss) carried forward +€957,330
up €957,330 (+19.3%), from €5.0m to €5.9m
- Other debts -€788,264
down €788,264 (-75.9%), from €1.0m to €250,000
- Trade debts -€164,281
down €164,281 (-23.4%), from €703,444 to €539,164
Income statement
- Goods and materials +€1.4m
up €1.4m (+17.9%), from €7.5m to €8.9m
- Turnover +€623,387
up €623,387 (+3.8%), from €16.3m to €16.9m
- Services and other goods +€299,724
up €299,724 (+23.3%), from €1.3m to €1.6m
- Taxes +€205,351
up €205,351 (+140.7%), from €145,977 to €351,328
of which Taxes: +€202,428
- Financial charges -€192,514
down €192,514 (-53.0%), from €363,051 to €170,536
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
€394,812
Turnover
+€623,387
Other operating income
+€39,224
Goods and materials
-€1.4m
Services and other goods
-€299,724
Staff costs
-€7,210
Depreciation
-€72,638
Other operating charges
+€219
Other operating items
+€1.9m
Financial income
+€30,017
Financial charges
+€192,514
Taxes
-€205,351
Result 2025
€1.2m
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
+€3.2m
Investment
-€3.2m
Financing
-€250,000
Cash 2024
€838,024
From operations (derived)
+€3.2m
Net result for the year
+€1.2m
Depreciation
+€359,125
Stocks and contracts
+€2.4m
Receivables within one year
+€309,607
Deferred charges and accrued income
-€7,221
Trade debts
-€164,281
Tax, wage and social debts
-€97,657
Advances received
+€26,598
Other debts
-€788,264
Accrued charges and deferred income
-€22,198
Investment (derived)
-€3.2m
Investment in fixed assets (net)
-€598,264
Current investments
-€2.6m
Financing
-€250,000
Contributions, distributions and other
-€250,000
Cash 2025
€620,083
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,053,514 | €10,965,043 | -€88,472 | -0.8% |
| Fixed assets | 21/28 | €1,805,558 | €2,044,696 | +€239,139 | +13.2% |
| Tangible fixed assets | 22/27 | €1,805,558 | €2,044,696 | +€239,139 | +13.2% |
| Land and buildings | 22 | €473,428 | €418,757 | -€54,670 | -11.5% |
| Plant, machinery and equipment | 23 | €215,861 | €563,838 | +€347,977 | +161.2% |
| Furniture and vehicles | 24 | €575,651 | €521,484 | -€54,167 | -9.4% |
| Other tangible fixed assets | 26 | €540,617 | €540,617 | = | 0.0% |
| Current assets | 29/58 | €9,247,957 | €8,920,346 | -€327,611 | -3.5% |
| Stocks and contracts in progress | 3 | €4,387,309 | €2,004,494 | -€2.4m | -54.3% |
| Stocks | 30/36 | €344,040 | €344,040 | = | 0.0% |
| Raw materials and consumables | 30/31 | €60,000 | €60,000 | = | 0.0% |
| Property held for sale | 35 | €284,040 | €284,040 | = | 0.0% |
| Contracts in progress | 37 | €4,043,269 | €1,660,454 | -€2.4m | -58.9% |
| Amounts receivable within one year | 40/41 | €2,236,280 | €1,926,673 | -€309,607 | -13.8% |
| Trade receivables | 40 | €688,455 | €1,791,764 | +€1.1m | +160.3% |
| Other amounts receivable | 41 | €1,547,825 | €134,909 | -€1.4m | -91.3% |
| Current investments | 50/53 | €1,750,000 | €4,325,531 | +€2.6m | +147.2% |
| Other investments | 51/53 | €1,750,000 | €4,325,531 | +€2.6m | +147.2% |
| Cash at bank and in hand | 54/58 | €838,024 | €620,083 | -€217,941 | -26.0% |
| Deferred charges and accrued income | 490/1 | €36,344 | €43,565 | +€7,221 | +19.9% |
| Total equity and liabilities | 10/49 | €11,053,514 | €10,965,043 | -€88,472 | -0.8% |
| Equity | 10/15 | €6,567,889 | €7,525,219 | +€957,330 | +14.6% |
| Contributions | 10/11 | €546,000 | €546,000 | = | 0.0% |
| Capital | 10 | €546,000 | €546,000 | = | 0.0% |
| Issued capital | 100 | €546,000 | €546,000 | = | 0.0% |
| Reserves | 13 | €1,056,600 | €1,056,600 | = | 0.0% |
| Non-distributable reserves | 130/1 | €54,600 | €54,600 | = | 0.0% |
| Legal reserve | 130 | €54,600 | €54,600 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €983,250 | €983,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,965,289 | €5,922,619 | +€957,330 | +19.3% |
| Amounts payable | 17/49 | €4,485,626 | €3,439,824 | -€1.0m | -23.3% |
| Amounts payable after more than one year | 17 | €2,240,000 | €2,240,000 | = | 0.0% |
| Financial debts | 170/4 | €2,240,000 | €2,240,000 | = | 0.0% |
| Other loans | 174 | €2,240,000 | €2,240,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,062,170 | €1,038,566 | -€1.0m | -49.6% |
| Trade debts | 44 | €703,444 | €539,164 | -€164,281 | -23.4% |
| Suppliers | 440/4 | €703,444 | €539,164 | -€164,281 | -23.4% |
| Advances received on contracts in progress | 46 | €115,278 | €141,876 | +€26,598 | +23.1% |
| Taxes, remuneration and social security | 45 | €205,184 | €107,527 | -€97,657 | -47.6% |
| Taxes | 450/3 | €130,535 | €35,893 | -€94,642 | -72.5% |
| Remuneration and social security | 454/9 | €74,649 | €71,635 | -€3,015 | -4.0% |
| Other amounts payable | 47/48 | €1,038,264 | €250,000 | -€788,264 | -75.9% |
| Accrued charges and deferred income | 492/3 | €183,456 | €161,257 | -€22,198 | -12.1% |
| Operating income | 70/76A | €12,233,242 | €14,725,389 | +€2.5m | +20.4% |
| Turnover | 70 | €16,272,703 | €16,896,090 | +€623,387 | +3.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€4,226,768 | -€2,382,815 | +€1.8m | +43.6% |
| Other operating income | 74 | €152,036 | €191,261 | +€39,224 | +25.8% |
| Non-recurring operating income | 76A | €35,271 | €20,853 | -€14,418 | -40.9% |
| Operating charges | 60/66A | €11,351,558 | €13,048,366 | +€1.7m | +14.9% |
| Goods for resale, raw materials and consumables | 60 | €7,544,902 | €8,898,083 | +€1.4m | +17.9% |
| Purchases | 600/8 | €7,544,902 | €8,898,083 | +€1.4m | +17.9% |
| Services and other goods | 61 | €1,286,515 | €1,586,239 | +€299,724 | +23.3% |
| Remuneration, social security and pensions | 62 | €2,171,401 | €2,178,612 | +€7,210 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €286,487 | €359,125 | +€72,638 | +25.4% |
| Other operating charges | 640/8 | €26,527 | €26,308 | -€219 | -0.8% |
| Non-recurring operating charges | 66A | €35,725 | - | -€35,725 | |
| Operating profit (loss) | 9901 | €881,684 | €1,677,022 | +€795,338 | +90.2% |
| Financial income | 75/76B | €22,155 | €52,172 | +€30,017 | +135.5% |
| Recurring financial income | 75 | €22,155 | €52,172 | +€30,017 | +135.5% |
| Income from current assets | 751 | €21,373 | €50,913 | +€29,540 | +138.2% |
| Other financial income | 752/9 | €782 | €1,259 | +€477 | +61.0% |
| Financial charges | 65/66B | €363,051 | €170,536 | -€192,514 | -53.0% |
| Recurring financial charges | 65 | €363,051 | €170,536 | -€192,514 | -53.0% |
| Debt charges | 650 | €348,088 | €165,338 | -€182,750 | -52.5% |
| Other financial charges | 652/9 | €14,963 | €5,198 | -€9,764 | -65.3% |
| Profit (loss) for the period before taxes | 9903 | €540,789 | €1,558,658 | +€1.0m | +188.2% |
| Income taxes | 67/77 | €145,977 | €351,328 | +€205,351 | +140.7% |
| Taxes | 670/3 | €148,900 | €351,328 | +€202,428 | +135.9% |
| Tax adjustments and reversals of tax provisions | 77 | €2,923 | - | -€2,923 | |
| Profit (loss) for the period | 9904 | €394,812 | €1,207,330 | +€812,518 | +205.8% |
| Profit (loss) for the period to be appropriated | 9905 | €394,812 | €1,207,330 | +€812,518 | +205.8% |
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 6 October 2026 via checked.be.