HEPACO: 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.
HEPACO
Largest movements
- Intangible fixed assets -€17,662
down €17,662 (-39.2%), from €45,000 to €27,338
- Cash +€5,131
up €5,131 (+342%), from €1,502 to €6,633
mainly Depreciation (+€22,294) and Net result for the year (+€8,873)
- Tangible fixed assets -€4,632
down €4,632 (-6.8%), from €67,726 to €63,094
of which Plant, machinery and equipment: -€3,941
- Stocks and contracts +€2,455
up €2,455 (+7.3%), from €33,600 to €36,055
- Trade debts -€17,751
down €17,751 (-69.0%), from €25,736 to €7,985
- Profit (loss) carried forward +€8,873
up €8,873 (+14.4%), from €61,633 to €70,506
- Debts after one year -€3,906
down €3,906 (-84.9%), from €4,600 to €694
- Current portion of long-term debt -€3,441
down €3,441 (-46.8%), from €7,346 to €3,906
- Tax, wage and social debts +€2,317
up €2,317 (+231%), from €1,005 to €3,322
- Gross operating margin +€25,979
up €25,979 (+214%), from €12,154 to €38,133
- Depreciation +€17,956
up €17,956 (+414%), from €4,338 to €22,294
- Taxes +€2,319
up €2,319 (+231%), from €1,005 to €3,324
- Financial charges -€407
down €407 (-15.7%), from €2,588 to €2,181
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 | €166,772 | €151,116 | -€15,655 | -9.4% |
| Fixed assets | 21/28 | €112,726 | €90,432 | -€22,294 | -19.8% |
| Intangible fixed assets | 21 | €45,000 | €27,338 | -€17,662 | -39.2% |
| Tangible fixed assets | 22/27 | €67,726 | €63,094 | -€4,632 | -6.8% |
| Land and buildings | 22 | €60,426 | €59,736 | -€691 | -1.1% |
| Plant, machinery and equipment | 23 | €7,300 | €3,359 | -€3,941 | -54.0% |
| Current assets | 29/58 | €54,046 | €60,685 | +€6,639 | +12.3% |
| Stocks and contracts in progress | 3 | €33,600 | €36,055 | +€2,455 | +7.3% |
| Stocks | 30/36 | €33,600 | €36,055 | +€2,455 | +7.3% |
| Amounts receivable within one year | 40/41 | €15,350 | €13,762 | -€1,588 | -10.3% |
| Trade receivables | 40 | €6,107 | €3,340 | -€2,767 | -45.3% |
| Other amounts receivable | 41 | €9,243 | €10,422 | +€1,179 | +12.8% |
| Cash at bank and in hand | 54/58 | €1,502 | €6,633 | +€5,131 | +342% |
| Deferred charges and accrued income | 490/1 | €3,594 | €4,234 | +€641 | +17.8% |
| Total equity and liabilities | 10/49 | €166,772 | €151,116 | -€15,655 | -9.4% |
| Equity | 10/15 | €91,003 | €99,876 | +€8,873 | +9.8% |
| Contributions | 10/11 | €26,700 | €26,700 | = | 0.0% |
| Reserves | 13 | €2,670 | €2,670 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,670 | €2,670 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,633 | €70,506 | +€8,873 | +14.4% |
| Amounts payable | 17/49 | €75,769 | €51,241 | -€24,528 | -32.4% |
| Amounts payable after more than one year | 17 | €4,600 | €694 | -€3,906 | -84.9% |
| Financial debts | 170/4 | €4,600 | €694 | -€3,906 | -84.9% |
| Amounts payable within one year | 42/48 | €70,419 | €49,797 | -€20,622 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €7,346 | €3,906 | -€3,441 | -46.8% |
| Financial debts | 43 | €25,000 | €25,000 | = | 0.0% |
| Credit institutions | 430/8 | €25,000 | €25,000 | = | 0.0% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €25,736 | €7,985 | -€17,751 | -69.0% |
| Suppliers | 440/4 | €25,736 | €7,985 | -€17,751 | -69.0% |
| Taxes, remuneration and social security | 45 | €1,005 | €3,322 | +€2,317 | +231% |
| Taxes | 450/3 | €1,005 | €3,322 | +€2,317 | +231% |
| Other amounts payable | 47/48 | €11,331 | €9,583 | -€1,748 | -15.4% |
| Accrued charges and deferred income | 492/3 | €750 | €750 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,338 | €22,294 | +€17,956 | +414% |
| Other operating charges | 640/8 | €1,564 | €1,902 | +€338 | +21.6% |
| Gross operating margin | 9900 | €12,154 | €38,133 | +€25,979 | +214% |
| Operating profit (loss) | 9901 | €6,252 | €13,937 | +€7,685 | +123% |
| Financial income | 75/76B | €291 | €440 | +€149 | +51.1% |
| Recurring financial income | 75 | €291 | €440 | +€149 | +51.1% |
| Financial charges | 65/66B | €2,588 | €2,181 | -€407 | -15.7% |
| Recurring financial charges | 65 | €2,588 | €2,181 | -€407 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €3,955 | €12,196 | +€8,241 | +208% |
| Income taxes | 67/77 | €1,005 | €3,324 | +€2,319 | +231% |
| Profit (loss) for the period | 9904 | €2,951 | €8,873 | +€5,922 | +201% |
| Profit (loss) for the period to be appropriated | 9905 | €2,951 | €8,873 | +€5,922 | +201% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.