HEMAX BE: 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.
HEMAX BE
Largest movements
- Receivables within one year +€150,410
up €150,410 (+34.7%), from €433,357 to €583,767
of which Other amounts receivable: +€140,088
- Cash +€41,544
up €41,544 (+11618.9%), from €358 to €41,902
mainly Other debts (+€791,669) and Depreciation (+€41,301)
- Tangible fixed assets -€26,317
down €26,317 (-16.7%), from €157,849 to €131,532
of which Other tangible fixed assets: -€21,602
- Other debts +€791,669
up €791,669 (+534.4%), from €148,154 to €939,823
- Short-term financial debts -€500,000
down €500,000 (-100.0%), from €500,000 to €0
- Profit (loss) carried forward -€131,295
down €131,295 (-122.1%), from -€107,531 to -€238,826
- Trade debts +€36,095
up €36,095 (+373.3%), from €9,668 to €45,763
- Advances received -€13,830
down €13,830 (-100.0%), from €13,830 to €0
- Gross operating margin -€140,693
down €140,693, from €72,707 to -€67,986
- Financial charges +€35,598
up €35,598 (+590.7%), from €6,026 to €41,624
- Financial income +€19,330
up €19,330 (+1901.5%), from €1,017 to €20,347
- Depreciation -€1,546
down €1,546 (-3.6%), from €42,847 to €41,301
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 | €615,693 | €784,062 | +€168,369 | +27.3% |
| Fixed assets | 21/28 | €180,349 | €154,032 | -€26,317 | -14.6% |
| Tangible fixed assets | 22/27 | €157,849 | €131,532 | -€26,317 | -16.7% |
| Plant, machinery and equipment | 23 | €870 | €0 | -€870 | -100.0% |
| Furniture and vehicles | 24 | €63,186 | €59,342 | -€3,844 | -6.1% |
| Other tangible fixed assets | 26 | €93,792 | €72,190 | -€21,602 | -23.0% |
| Financial fixed assets | 28 | €22,500 | €22,500 | = | 0.0% |
| Current assets | 29/58 | €435,344 | €630,030 | +€194,686 | +44.7% |
| Amounts receivable within one year | 40/41 | €433,357 | €583,767 | +€150,410 | +34.7% |
| Trade receivables | 40 | €14,514 | €24,836 | +€10,321 | +71.1% |
| Other amounts receivable | 41 | €418,843 | €558,931 | +€140,088 | +33.4% |
| Cash at bank and in hand | 54/58 | €358 | €41,902 | +€41,544 | +11618.9% |
| Deferred charges and accrued income | 490/1 | €1,629 | €4,361 | +€2,732 | +167.6% |
| Total equity and liabilities | 10/49 | €615,693 | €784,062 | +€168,369 | +27.3% |
| Equity | 10/15 | -€75,535 | -€206,830 | -€131,295 | -173.8% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €25,496 | €25,496 | = | 0.0% |
| Distributable reserves | 133 | €25,496 | €25,496 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€107,531 | -€238,826 | -€131,295 | -122.1% |
| Amounts payable | 17/49 | €691,228 | €990,892 | +€299,664 | +43.4% |
| Amounts payable within one year | 42/48 | €686,364 | €990,892 | +€304,527 | +44.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €500,000 | €0 | -€500,000 | -100.0% |
| Credit institutions | 430/8 | €500,000 | €0 | -€500,000 | -100.0% |
| Trade debts | 44 | €9,668 | €45,763 | +€36,095 | +373.3% |
| Suppliers | 440/4 | €9,668 | €45,763 | +€36,095 | +373.3% |
| Advances received on contracts in progress | 46 | €13,830 | €0 | -€13,830 | -100.0% |
| Taxes, remuneration and social security | 45 | €14,712 | €5,306 | -€9,406 | -63.9% |
| Taxes | 450/3 | €11,412 | €2,006 | -€9,406 | -82.4% |
| Remuneration and social security | 454/9 | €3,300 | €3,300 | = | 0.0% |
| Other amounts payable | 47/48 | €148,154 | €939,823 | +€791,669 | +534.4% |
| Accrued charges and deferred income | 492/3 | €4,863 | €0 | -€4,863 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,847 | €41,301 | -€1,546 | -3.6% |
| Other operating charges | 640/8 | €431 | €511 | +€80 | +18.5% |
| Gross operating margin | 9900 | €72,707 | -€67,986 | -€140,693 | |
| Operating profit (loss) | 9901 | €29,429 | -€109,799 | -€139,227 | |
| Financial income | 75/76B | €1,017 | €20,347 | +€19,330 | +1901.5% |
| Recurring financial income | 75 | €1,017 | €20,347 | +€19,330 | +1901.5% |
| Financial charges | 65/66B | €6,026 | €41,624 | +€35,598 | +590.7% |
| Recurring financial charges | 65 | €6,026 | €41,624 | +€35,598 | +590.7% |
| Profit (loss) for the period before taxes | 9903 | €24,419 | -€131,076 | -€155,495 | |
| Income taxes | 67/77 | €238 | €219 | -€19 | -8.0% |
| Profit (loss) for the period | 9904 | €24,181 | -€131,295 | -€155,476 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,181 | -€131,295 | -€155,476 |
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 4 October 2026 via checked.be.