HepaVue Dx: 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.
HepaVue Dx
Largest movements
- Current investments +€1.5m
new in 2025: €1.5m
- Cash +€703,121
up €703,121 (+162%), from €433,565 to €1.1m
mainly Debts after one year (+€2.4m) and Contributions, distributions and other (+€803,151)
- Intangible fixed assets +€617,878
up €617,878 (+301%), from €205,467 to €823,345
- Receivables within one year +€165,466
up €165,466 (+1,547%), from €10,695 to €176,161
of which Other amounts receivable: +€172,442
- Tangible fixed assets +€40,442
up €40,442 (+826%), from €4,897 to €45,338
of which Plant, machinery and equipment: +€41,748
- Debts after one year +€2.4m
up €2.4m (+361%), from €670,000 to €3.1m
of which Financial debts: +€2.1m
- Contributions +€650,000
up €650,000 (+3,250%), from €20,000 to €670,000
- Profit (loss) carried forward -€351,134
down €351,134 (-836%), from -€42,023 to -€393,157
- Trade debts +€177,468
up €177,468 (+2,387%), from €7,435 to €184,903
- Investment grants +€153,151
new in 2025: €153,151
- Purchases and services +€290,007
up €290,007 (+424%), from €68,439 to €358,446
- Gross operating margin -€258,541
down €258,541 (-625%), from -€41,383 to -€299,924
- Staff costs +€68,646
new in 2025: €68,646
- Taxes -€20,853
new in 2025: -€20,853
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 | €655,488 | €3,710,704 | +€3.1m | +466% |
| Formation expenses | 20 | - | €1,761 | +€1,761 | |
| Fixed assets | 21/28 | €211,228 | €869,630 | +€658,402 | +312% |
| Intangible fixed assets | 21 | €205,467 | €823,345 | +€617,878 | +301% |
| Tangible fixed assets | 22/27 | €4,897 | €45,338 | +€40,442 | +826% |
| Plant, machinery and equipment | 23 | - | €41,748 | +€41,748 | |
| Furniture and vehicles | 24 | €4,897 | €3,590 | -€1,307 | -26.7% |
| Financial fixed assets | 28 | €864 | €946 | +€82 | +9.5% |
| Current assets | 29/58 | €444,260 | €2,839,313 | +€2.4m | +539% |
| Amounts receivable after more than one year | 29 | - | €20,853 | +€20,853 | |
| Other amounts receivable | 291 | - | €20,853 | +€20,853 | |
| Amounts receivable within one year | 40/41 | €10,695 | €176,161 | +€165,466 | +1,547% |
| Trade receivables | 40 | €7,279 | €302 | -€6,977 | -95.9% |
| Other amounts receivable | 41 | €3,417 | €175,859 | +€172,442 | +5,047% |
| Current investments | 50/53 | - | €1,500,000 | +€1.5m | |
| Cash at bank and in hand | 54/58 | €433,565 | €1,136,686 | +€703,121 | +162% |
| Deferred charges and accrued income | 490/1 | - | €5,613 | +€5,613 | |
| Total equity and liabilities | 10/49 | €655,488 | €3,710,704 | +€3.1m | +466% |
| Equity | 10/15 | -€22,023 | €429,994 | +€452,017 | |
| Contributions | 10/11 | €20,000 | €670,000 | +€650,000 | +3,250% |
| Profit (loss) carried forward | 14 | -€42,023 | -€393,157 | -€351,134 | -836% |
| Investment grants | 15 | - | €153,151 | +€153,151 | |
| Amounts payable | 17/49 | €677,512 | €3,280,710 | +€2.6m | +384% |
| Amounts payable after more than one year | 17 | €670,000 | €3,088,995 | +€2.4m | +361% |
| Financial debts | 170/4 | €450,000 | €2,525,500 | +€2.1m | +461% |
| Other amounts payable | 178/9 | €220,000 | €563,495 | +€343,495 | +156% |
| Amounts payable within one year | 42/48 | €7,435 | €191,438 | +€184,003 | +2,475% |
| Trade debts | 44 | €7,435 | €184,903 | +€177,468 | +2,387% |
| Suppliers | 440/4 | €7,435 | €184,903 | +€177,468 | +2,387% |
| Taxes, remuneration and social security | 45 | - | €6,535 | +€6,535 | |
| Taxes | 450/3 | - | €0 | = | |
| Remuneration and social security | 454/9 | - | €6,535 | +€6,535 | |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €77 | €277 | +€200 | +261% |
| Goods, raw materials, services and sundry goods | 60/61 | €68,439 | €358,446 | +€290,007 | +424% |
| Remuneration, social security and pensions | 62 | - | €68,646 | +€68,646 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155 | €2,059 | +€1,904 | +1,228% |
| Other operating charges | 640/8 | €274 | €745 | +€471 | +172% |
| Gross operating margin | 9900 | -€41,383 | -€299,924 | -€258,541 | -625% |
| Operating profit (loss) | 9901 | -€41,812 | -€371,374 | -€329,562 | -788% |
| Financial income | 75/76B | €7 | €350 | +€344 | +5,258% |
| Recurring financial income | 75 | €7 | €350 | +€344 | +5,258% |
| Financial charges | 65/66B | €218 | €964 | +€746 | +342% |
| Recurring financial charges | 65 | €218 | €964 | +€746 | +342% |
| Profit (loss) for the period before taxes | 9903 | -€42,023 | -€371,987 | -€329,964 | -785% |
| Income taxes | 67/77 | - | -€20,853 | -€20,853 | |
| Profit (loss) for the period | 9904 | -€42,023 | -€351,134 | -€309,110 | -736% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,023 | -€351,134 | -€309,110 | -736% |
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 23 October 2026 via checked.be.