HEMIGO: 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.
HEMIGO
Largest movements
- Cash +€110,157
up €110,157 (+11.3%), from €974,675 to €1.1m
mainly Net result for the year (+€197,981) and Depreciation (+€100,114)
- Current investments +€86,169
up €86,169 (+3.1%), from €2.8m to €2.9m
- Reserves +€197,981
up €197,981 (+13.6%), from €1.5m to €1.7m
- Financial income +€70,660
up €70,660 (+70.4%), from €100,412 to €171,072
- Financial charges -€22,391
down €22,391 (-13.4%), from €166,888 to €144,496
- Other operating charges +€18,066
up €18,066 (+30.8%), from €58,615 to €76,681
- Taxes +€12,725
up €12,725 (+19.1%), from €66,540 to €79,265
- Depreciation +€11,365
up €11,365 (+12.8%), from €88,749 to €100,114
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 | €5,362,738 | €5,549,213 | +€186,475 | +3.5% |
| Fixed assets | 21/28 | €1,505,344 | €1,463,287 | -€42,057 | -2.8% |
| Tangible fixed assets | 22/27 | €1,505,344 | €1,463,287 | -€42,057 | -2.8% |
| Land and buildings | 22 | €1,249,589 | €1,214,056 | -€35,534 | -2.8% |
| Furniture and vehicles | 24 | €25,789 | €19,266 | -€6,524 | -25.3% |
| Other tangible fixed assets | 26 | €229,965 | €229,965 | = | 0.0% |
| Current assets | 29/58 | €3,857,394 | €4,085,926 | +€228,532 | +5.9% |
| Amounts receivable within one year | 40/41 | €104,444 | €140,192 | +€35,748 | +34.2% |
| Trade receivables | 40 | €1 | €0 | -€1 | -100.0% |
| Other amounts receivable | 41 | €104,443 | €140,192 | +€35,749 | +34.2% |
| Current investments | 50/53 | €2,764,864 | €2,851,032 | +€86,169 | +3.1% |
| Cash at bank and in hand | 54/58 | €974,675 | €1,084,832 | +€110,157 | +11.3% |
| Deferred charges and accrued income | 490/1 | €13,411 | €9,870 | -€3,541 | -26.4% |
| Total equity and liabilities | 10/49 | €5,362,738 | €5,549,213 | +€186,475 | +3.5% |
| Equity | 10/15 | €3,556,188 | €3,754,169 | +€197,981 | +5.6% |
| Contributions | 10/11 | €740,000 | €740,000 | = | 0.0% |
| Reserves | 13 | €1,461,101 | €1,659,082 | +€197,981 | +13.6% |
| Distributable reserves | 133 | €1,461,101 | €1,659,082 | +€197,981 | +13.6% |
| Profit (loss) carried forward | 14 | €1,355,088 | €1,355,088 | = | 0.0% |
| Amounts payable | 17/49 | €1,806,549 | €1,795,043 | -€11,506 | -0.6% |
| Amounts payable after more than one year | 17 | €1,525,000 | €1,525,000 | = | 0.0% |
| Financial debts | 170/4 | €1,525,000 | €1,525,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €223,394 | €254,990 | +€31,596 | +14.1% |
| Trade debts | 44 | €7,301 | €4,163 | -€3,138 | -43.0% |
| Suppliers | 440/4 | €7,301 | €4,163 | -€3,138 | -43.0% |
| Taxes, remuneration and social security | 45 | €53,454 | €55,069 | +€1,615 | +3.0% |
| Taxes | 450/3 | €53,454 | €55,069 | +€1,615 | +3.0% |
| Other amounts payable | 47/48 | €162,638 | €195,758 | +€33,120 | +20.4% |
| Accrued charges and deferred income | 492/3 | €58,155 | €15,053 | -€43,102 | -74.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,749 | €100,114 | +€11,365 | +12.8% |
| Other operating charges | 640/8 | €58,615 | €76,681 | +€18,066 | +30.8% |
| Gross operating margin | 9900 | €438,341 | €427,466 | -€10,875 | -2.5% |
| Operating profit (loss) | 9901 | €290,977 | €250,670 | -€40,306 | -13.9% |
| Financial income | 75/76B | €100,412 | €171,072 | +€70,660 | +70.4% |
| Recurring financial income | 75 | €100,412 | €171,072 | +€70,660 | +70.4% |
| Financial charges | 65/66B | €166,888 | €144,496 | -€22,391 | -13.4% |
| Recurring financial charges | 65 | €166,888 | €144,496 | -€22,391 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €224,501 | €277,246 | +€52,745 | +23.5% |
| Income taxes | 67/77 | €66,540 | €79,265 | +€12,725 | +19.1% |
| Profit (loss) for the period | 9904 | €157,961 | €197,981 | +€40,020 | +25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €157,961 | €197,981 | +€40,020 | +25.3% |
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 6 October 2026 via checked.be.