HEPE Consult: 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.
HEPE Consult
Largest movements
- Tangible fixed assets -€30,799
down €30,799 (-95.9%), from €32,101 to €1,302
- Cash +€11,136
up €11,136 (+27.5%), from €40,469 to €51,604
mainly Investment in fixed assets (net) (+€30,438) and Other debts (+€6,131)
- Receivables within one year -€963
down €963 (-52.8%), from €1,825 to €861
- Profit (loss) carried forward -€27,378
down €27,378 (-39.7%), from €68,879 to €41,500
- Other debts +€6,131
up €6,131 (+432.1%), from €1,419 to €7,550
- Gross operating margin -€132,356
down €132,356, from €126,565 to -€5,791
- Staff costs -€72,659
no longer reported in 2025 (was €72,659)
- Financial charges +€19,049
up €19,049 (+1277.6%), from €1,491 to €20,540
of which Non-recurring financial charges: +€20,436
- Depreciation -€10,000
down €10,000 (-91.1%), from €10,981 to €981
- Taxes -€8,305
no longer reported in 2025 (was €8,305)
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 | €75,298 | €54,051 | -€21,247 | -28.2% |
| Formation expenses | 20 | €904 | €283 | -€621 | -68.7% |
| Fixed assets | 21/28 | €32,101 | €1,302 | -€30,799 | -95.9% |
| Tangible fixed assets | 22/27 | €32,101 | €1,302 | -€30,799 | -95.9% |
| Plant, machinery and equipment | 23 | €32,101 | €1,302 | -€30,799 | -95.9% |
| Current assets | 29/58 | €42,293 | €52,465 | +€10,172 | +24.1% |
| Amounts receivable within one year | 40/41 | €1,825 | €861 | -€963 | -52.8% |
| Other amounts receivable | 41 | €1,825 | €861 | -€963 | -52.8% |
| Cash at bank and in hand | 54/58 | €40,469 | €51,604 | +€11,136 | +27.5% |
| Total equity and liabilities | 10/49 | €75,298 | €54,051 | -€21,247 | -28.2% |
| Equity | 10/15 | €73,879 | €46,500 | -€27,378 | -37.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,879 | €41,500 | -€27,378 | -39.7% |
| Amounts payable | 17/49 | €1,419 | €7,550 | +€6,131 | +432.1% |
| Amounts payable within one year | 42/48 | €1,419 | €7,550 | +€6,131 | +432.1% |
| Other amounts payable | 47/48 | €1,419 | €7,550 | +€6,131 | +432.1% |
| Remuneration, social security and pensions | 62 | €72,659 | - | -€72,659 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,981 | €981 | -€10,000 | -91.1% |
| Other operating charges | 640/8 | €1,283 | €66 | -€1,218 | -94.9% |
| Gross operating margin | 9900 | €126,565 | -€5,791 | -€132,356 | |
| Operating profit (loss) | 9901 | €41,642 | -€6,838 | -€48,480 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,491 | €20,540 | +€19,049 | +1277.6% |
| Recurring financial charges | 65 | €1,489 | €102 | -€1,387 | -93.1% |
| Non-recurring financial charges | 66B | €2 | €20,438 | +€20,436 | +1021818.0% |
| Profit (loss) for the period before taxes | 9903 | €40,152 | -€27,378 | -€67,530 | |
| Income taxes | 67/77 | €8,305 | - | -€8,305 | |
| Profit (loss) for the period | 9904 | €31,847 | -€27,378 | -€59,226 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,847 | -€27,378 | -€59,226 |
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 8 October 2026 via checked.be.