HEMERA PHOTO: 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.
HEMERA PHOTO
Largest movements
- Tangible fixed assets +€43,711
up €43,711 (+150%), from €29,167 to €72,878
- Receivables within one year -€33,081
down €33,081 (-17.5%), from €189,363 to €156,282
of which Other amounts receivable: -€18,903
- Deferred charges and accrued income -€10,280
down €10,280 (-84.8%), from €12,126 to €1,846
- Intangible fixed assets +€7,918
up €7,918 (+6.9%), from €115,224 to €123,142
- Cash -€6,510
down €6,510 (-13.4%), from €48,486 to €41,976
mainly Investment in fixed assets (net) (-€139,208) and Debts after one year (-€22,844)
- Debts after one year -€22,844
down €22,844 (-8.8%), from €258,644 to €235,801
- Profit (loss) carried forward +€16,880
up €16,880 (+322%), from €5,249 to €22,128
- Gross operating margin +€13,037
up €13,037 (+6.5%), from €201,189 to €214,226
- Other operating charges +€4,162
up €4,162 (+792%), from €526 to €4,688
- Depreciation +€2,704
up €2,704 (+3.2%), from €84,875 to €87,579
- Financial charges +€2,644
up €2,644 (+15.6%), from €16,912 to €19,556
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.
Derived cash bridge
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 | €539,151 | €540,019 | +€868 | +0.2% |
| Fixed assets | 21/28 | €144,391 | €196,020 | +€51,629 | +35.8% |
| Intangible fixed assets | 21 | €115,224 | €123,142 | +€7,918 | +6.9% |
| Tangible fixed assets | 22/27 | €29,167 | €72,878 | +€43,711 | +150% |
| Plant, machinery and equipment | 23 | €29,167 | €72,878 | +€43,711 | +150% |
| Current assets | 29/58 | €394,760 | €343,999 | -€50,762 | -12.9% |
| Stocks and contracts in progress | 3 | €144,786 | €143,895 | -€891 | -0.6% |
| Stocks | 30/36 | €144,786 | €143,895 | -€891 | -0.6% |
| Amounts receivable within one year | 40/41 | €189,363 | €156,282 | -€33,081 | -17.5% |
| Trade receivables | 40 | €169,026 | €154,848 | -€14,178 | -8.4% |
| Other amounts receivable | 41 | €20,337 | €1,434 | -€18,903 | -92.9% |
| Cash at bank and in hand | 54/58 | €48,486 | €41,976 | -€6,510 | -13.4% |
| Deferred charges and accrued income | 490/1 | €12,126 | €1,846 | -€10,280 | -84.8% |
| Total equity and liabilities | 10/49 | €539,151 | €540,019 | +€868 | +0.2% |
| Equity | 10/15 | €32,964 | €49,844 | +€16,880 | +51.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,716 | €2,716 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €216 | €216 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,249 | €22,128 | +€16,880 | +322% |
| Amounts payable | 17/49 | €506,187 | €490,175 | -€16,012 | -3.2% |
| Amounts payable after more than one year | 17 | €258,644 | €235,801 | -€22,844 | -8.8% |
| Financial debts | 170/4 | €258,644 | €235,801 | -€22,844 | -8.8% |
| Amounts payable within one year | 42/48 | €247,543 | €254,374 | +€6,831 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €74,916 | €78,845 | +€3,929 | +5.2% |
| Financial debts | 43 | €7,985 | €7,683 | -€302 | -3.8% |
| Credit institutions | 430/8 | €7,985 | €7,683 | -€302 | -3.8% |
| Trade debts | 44 | €101,086 | €105,065 | +€3,979 | +3.9% |
| Suppliers | 440/4 | €101,086 | €105,065 | +€3,979 | +3.9% |
| Taxes, remuneration and social security | 45 | €12,130 | €11,354 | -€775 | -6.4% |
| Taxes | 450/3 | €3,378 | €2,960 | -€418 | -12.4% |
| Remuneration and social security | 454/9 | €8,752 | €8,394 | -€357 | -4.1% |
| Other amounts payable | 47/48 | €51,426 | €51,426 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €86,320 | €84,367 | -€1,953 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,875 | €87,579 | +€2,704 | +3.2% |
| Other operating charges | 640/8 | €526 | €4,688 | +€4,162 | +792% |
| Gross operating margin | 9900 | €201,189 | €214,226 | +€13,037 | +6.5% |
| Operating profit (loss) | 9901 | €29,468 | €37,592 | +€8,125 | +27.6% |
| Financial income | 75/76B | €514 | €466 | -€49 | -9.4% |
| Recurring financial income | 75 | €514 | €466 | -€49 | -9.4% |
| Financial charges | 65/66B | €16,912 | €19,556 | +€2,644 | +15.6% |
| Recurring financial charges | 65 | €16,912 | €19,556 | +€2,644 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €13,070 | €18,502 | +€5,432 | +41.6% |
| Income taxes | 67/77 | €170 | €1,634 | +€1,464 | +859% |
| Profit (loss) for the period | 9904 | €12,900 | €16,868 | +€3,968 | +30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,900 | €16,868 | +€3,968 | +30.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.