HEMEL & AARDE: 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.
HEMEL & AARDE
Largest movements
- Cash +€11,366
up €11,366 (+186.0%), from €6,110 to €17,476
mainly Net result for the year (+€22,679) and Stocks and contracts (+€1,996)
- Tangible fixed assets +€6,672
up €6,672 (+596.2%), from €1,119 to €7,791
of which Land and buildings: +€7,588
- Stocks and contracts -€1,996
no longer reported in 2025 (was €1,996)
- Receivables within one year -€432
no longer reported in 2025 (was €432)
- Profit (loss) carried forward +€22,679
up €22,679 (+12.6%), from -€180,068 to -€157,389
- Other debts -€9,001
down €9,001 (-5.1%), from €176,944 to €167,943
- Tax, wage and social debts +€1,932
new in 2025: €1,932
- Gross operating margin +€17,091
up €17,091 (+245.7%), from €6,956 to €24,047
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 | €9,657 | €25,267 | +€15,610 | +161.6% |
| Fixed assets | 21/28 | €1,119 | €7,791 | +€6,672 | +596.2% |
| Tangible fixed assets | 22/27 | €1,119 | €7,791 | +€6,672 | +596.2% |
| Land and buildings | 22 | - | €7,588 | +€7,588 | |
| Plant, machinery and equipment | 23 | €628 | - | -€628 | |
| Furniture and vehicles | 24 | €491 | €203 | -€288 | -58.7% |
| Current assets | 29/58 | €8,538 | €17,476 | +€8,938 | +104.7% |
| Stocks and contracts in progress | 3 | €1,996 | - | -€1,996 | |
| Stocks | 30/36 | €1,996 | - | -€1,996 | |
| Amounts receivable within one year | 40/41 | €432 | - | -€432 | |
| Other amounts receivable | 41 | €432 | - | -€432 | |
| Cash at bank and in hand | 54/58 | €6,110 | €17,476 | +€11,366 | +186.0% |
| Total equity and liabilities | 10/49 | €9,657 | €25,267 | +€15,610 | +161.6% |
| Equity | 10/15 | -€167,287 | -€144,608 | +€22,679 | +13.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,581 | €6,581 | = | 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% |
| Tax-exempt reserves | 132 | €4,721 | €4,721 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€180,068 | -€157,389 | +€22,679 | +12.6% |
| Amounts payable | 17/49 | €176,944 | €169,875 | -€7,069 | -4.0% |
| Amounts payable within one year | 42/48 | €176,944 | €169,875 | -€7,069 | -4.0% |
| Taxes, remuneration and social security | 45 | - | €1,932 | +€1,932 | |
| Taxes | 450/3 | - | €1,932 | +€1,932 | |
| Other amounts payable | 47/48 | €176,944 | €167,943 | -€9,001 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,120 | €1,328 | +€208 | +18.6% |
| Gross operating margin | 9900 | €6,956 | €24,047 | +€17,091 | +245.7% |
| Operating profit (loss) | 9901 | €5,836 | €22,719 | +€16,883 | +289.3% |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €42 | €40 | -€2 | -4.8% |
| Recurring financial charges | 65 | €42 | €40 | -€2 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €5,814 | €22,679 | +€16,865 | +290.1% |
| Transfer from deferred taxes | 780 | €650 | - | -€650 | |
| Profit (loss) for the period | 9904 | €6,464 | €22,679 | +€16,215 | +250.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,464 | €22,679 | +€16,215 | +250.9% |
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.