HEML: 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.
HEML
Largest movements
- Tangible fixed assets -€53,879
down €53,879 (-13.3%), from €405,038 to €351,159
- Receivables within one year -€53,713
down €53,713 (-49.1%), from €109,460 to €55,747
of which Trade receivables: -€47,609
- Current investments +€50,212
up €50,212 (+96.9%), from €51,833 to €102,046
- Cash -€21,881
down €21,881 (-34.5%), from €63,509 to €41,628
mainly Current investments (-€50,212) and Debts after one year (-€46,552)
- Debts after one year -€46,552
down €46,552 (-26.7%), from €174,645 to €128,094
- Reserves -€22,490
down €22,490 (-6.0%), from €377,553 to €355,064
of which Distributable reserves: -€22,490
- Current portion of long-term debt -€15,157
down €15,157 (-24.6%), from €61,709 to €46,552
- Short-term financial debts -€6,730
no longer reported in 2025 (was €6,730)
- Tax, wage and social debts +€6,421
up €6,421 (+77.6%), from €8,271 to €14,692
of which Taxes: +€6,272
- Gross operating margin -€119,378
down €119,378 (-60.5%), from €197,328 to €77,950
- Taxes -€20,206
down €20,206 (-98.8%), from €20,443 to €237
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 | €640,023 | €555,687 | -€84,336 | -13.2% |
| Fixed assets | 21/28 | €405,038 | €351,159 | -€53,879 | -13.3% |
| Tangible fixed assets | 22/27 | €405,038 | €351,159 | -€53,879 | -13.3% |
| Land and buildings | 22 | €248,879 | €226,578 | -€22,301 | -9.0% |
| Plant, machinery and equipment | 23 | €4,859 | €3,400 | -€1,459 | -30.0% |
| Furniture and vehicles | 24 | €58,813 | €40,168 | -€18,645 | -31.7% |
| Other tangible fixed assets | 26 | €92,486 | €81,014 | -€11,473 | -12.4% |
| Current assets | 29/58 | €234,986 | €204,528 | -€30,457 | -13.0% |
| Amounts receivable within one year | 40/41 | €109,460 | €55,747 | -€53,713 | -49.1% |
| Trade receivables | 40 | €92,392 | €44,782 | -€47,609 | -51.5% |
| Other amounts receivable | 41 | €17,068 | €10,965 | -€6,104 | -35.8% |
| Current investments | 50/53 | €51,833 | €102,046 | +€50,212 | +96.9% |
| Cash at bank and in hand | 54/58 | €63,509 | €41,628 | -€21,881 | -34.5% |
| Deferred charges and accrued income | 490/1 | €10,183 | €5,108 | -€5,075 | -49.8% |
| Total equity and liabilities | 10/49 | €640,023 | €555,687 | -€84,336 | -13.2% |
| Equity | 10/15 | €383,753 | €361,264 | -€22,490 | -5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €377,553 | €355,064 | -€22,490 | -6.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €375,693 | €353,204 | -€22,490 | -6.0% |
| Amounts payable | 17/49 | €256,270 | €194,424 | -€61,846 | -24.1% |
| Amounts payable after more than one year | 17 | €174,645 | €128,094 | -€46,552 | -26.7% |
| Financial debts | 170/4 | €174,645 | €128,094 | -€46,552 | -26.7% |
| Amounts payable within one year | 42/48 | €81,261 | €63,263 | -€17,998 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €61,709 | €46,552 | -€15,157 | -24.6% |
| Financial debts | 43 | €6,730 | - | -€6,730 | |
| Credit institutions | 430/8 | €6,730 | - | -€6,730 | |
| Trade debts | 44 | €4,551 | €2,019 | -€2,531 | -55.6% |
| Suppliers | 440/4 | €4,551 | €2,019 | -€2,531 | -55.6% |
| Taxes, remuneration and social security | 45 | €8,271 | €14,692 | +€6,421 | +77.6% |
| Taxes | 450/3 | €4,191 | €10,463 | +€6,272 | +149.7% |
| Remuneration and social security | 454/9 | €4,081 | €4,229 | +€149 | +3.6% |
| Accrued charges and deferred income | 492/3 | €364 | €3,067 | +€2,703 | +743.0% |
| Remuneration, social security and pensions | 62 | €37,535 | €37,240 | -€296 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,833 | €53,879 | +€1,045 | +2.0% |
| Other operating charges | 640/8 | €4,915 | €4,469 | -€446 | -9.1% |
| Gross operating margin | 9900 | €197,328 | €77,950 | -€119,378 | -60.5% |
| Operating profit (loss) | 9901 | €102,044 | -€17,637 | -€119,682 | |
| Financial income | 75/76B | €312 | €396 | +€84 | +27.0% |
| Recurring financial income | 75 | €312 | €396 | +€84 | +27.0% |
| Financial charges | 65/66B | €6,062 | €5,012 | -€1,050 | -17.3% |
| Recurring financial charges | 65 | €6,062 | €5,012 | -€1,050 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €96,294 | -€22,253 | -€118,548 | |
| Income taxes | 67/77 | €20,443 | €237 | -€20,206 | -98.8% |
| Profit (loss) for the period | 9904 | €75,852 | -€22,490 | -€98,341 | |
| Profit (loss) for the period to be appropriated | 9905 | €75,852 | -€22,490 | -€98,341 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.