HEMO: 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.
HEMO
Largest movements
- Cash +€61,873
up €61,873 (+156%), from €39,587 to €101,460
mainly Net result for the year (+€60,015) and Depreciation (+€34,123)
- Current investments +€20,000
up €20,000 (+5.6%), from €360,000 to €380,000
- Reserves +€60,015
up €60,015 (+20.1%), from €299,015 to €359,031
of which Distributable reserves: +€60,015
- Trade debts +€16,642
up €16,642 (+11,201%), from €149 to €16,791
- Gross operating margin +€45,053
up €45,053 (+42.8%), from €105,276 to €150,330
- Taxes +€10,640
up €10,640 (+120%), from €8,896 to €19,536
- Financial charges -€3,106
down €3,106 (-10.5%), from €29,723 to €26,616
- Financial income -€2,024
down €2,024 (-20.4%), from €9,920 to €7,896
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 | €1,013,903 | €1,093,229 | +€79,327 | +7.8% |
| Fixed assets | 21/28 | €600,395 | €596,015 | -€4,380 | -0.7% |
| Tangible fixed assets | 22/27 | €600,395 | €596,015 | -€4,380 | -0.7% |
| Land and buildings | 22 | €600,395 | €596,015 | -€4,380 | -0.7% |
| Current assets | 29/58 | €413,508 | €497,214 | +€83,706 | +20.2% |
| Amounts receivable within one year | 40/41 | €5,143 | €8,324 | +€3,180 | +61.8% |
| Other amounts receivable | 41 | €5,143 | €8,324 | +€3,180 | +61.8% |
| Current investments | 50/53 | €360,000 | €380,000 | +€20,000 | +5.6% |
| Cash at bank and in hand | 54/58 | €39,587 | €101,460 | +€61,873 | +156% |
| Deferred charges and accrued income | 490/1 | €8,778 | €7,431 | -€1,347 | -15.3% |
| Total equity and liabilities | 10/49 | €1,013,903 | €1,093,229 | +€79,327 | +7.8% |
| Equity | 10/15 | €601,446 | €661,461 | +€60,015 | +10.0% |
| Contributions | 10/11 | €302,430 | €302,430 | = | 0.0% |
| Capital | 10 | €302,430 | €302,430 | = | 0.0% |
| Issued capital | 100 | €302,430 | €302,430 | = | 0.0% |
| Reserves | 13 | €299,015 | €359,031 | +€60,015 | +20.1% |
| Non-distributable reserves | 130/1 | €30,243 | €30,243 | = | 0.0% |
| Legal reserve | 130 | €30,243 | €30,243 | = | 0.0% |
| Distributable reserves | 133 | €268,772 | €328,788 | +€60,015 | +22.3% |
| Amounts payable | 17/49 | €412,457 | €431,768 | +€19,311 | +4.7% |
| Amounts payable within one year | 42/48 | €373,900 | €397,796 | +€23,896 | +6.4% |
| Trade debts | 44 | €149 | €16,791 | +€16,642 | +11,201% |
| Suppliers | 440/4 | €149 | €16,791 | +€16,642 | +11,201% |
| Taxes, remuneration and social security | 45 | €0 | €5,167 | +€5,167 | |
| Taxes | 450/3 | €0 | €5,167 | +€5,167 | |
| Other amounts payable | 47/48 | €373,751 | €375,838 | +€2,087 | +0.6% |
| Accrued charges and deferred income | 492/3 | €38,557 | €33,972 | -€4,585 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,926 | €34,123 | +€198 | +0.6% |
| Other operating charges | 640/8 | €17,191 | €17,935 | +€744 | +4.3% |
| Gross operating margin | 9900 | €105,276 | €150,330 | +€45,053 | +42.8% |
| Operating profit (loss) | 9901 | €54,160 | €98,272 | +€44,112 | +81.4% |
| Financial income | 75/76B | €9,920 | €7,896 | -€2,024 | -20.4% |
| Recurring financial income | 75 | €9,920 | €7,896 | -€2,024 | -20.4% |
| Financial charges | 65/66B | €29,723 | €26,616 | -€3,106 | -10.5% |
| Recurring financial charges | 65 | €29,723 | €26,616 | -€3,106 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €34,358 | €79,551 | +€45,194 | +132% |
| Income taxes | 67/77 | €8,896 | €19,536 | +€10,640 | +120% |
| Profit (loss) for the period | 9904 | €25,462 | €60,015 | +€34,553 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €25,462 | €60,015 | +€34,553 | +136% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.