HEQUI: 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.
HEQUI
Largest movements
- Cash -€70,345
down €70,345 (-61.1%), from €115,085 to €44,740
mainly Net result for the year (-€50,093) and Investment in fixed assets (net) (-€16,000)
- Receivables within one year +€13,038
up €13,038 (+183.7%), from €7,099 to €20,137
of which Other amounts receivable: +€10,635
- Tangible fixed assets +€10,091
up €10,091 (+6.3%), from €159,478 to €169,569
of which Other tangible fixed assets: +€16,000
- Profit (loss) carried forward -€50,093
down €50,093 (-81.5%), from -€61,464 to -€111,556
- Trade debts +€2,876
up €2,876 (+510.7%), from €563 to €3,439
- Gross operating margin -€35,895
down €35,895 (-474.1%), from -€7,571 to -€43,465
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 | €281,662 | €234,446 | -€47,217 | -16.8% |
| Fixed assets | 21/28 | €159,478 | €169,569 | +€10,091 | +6.3% |
| Tangible fixed assets | 22/27 | €159,478 | €169,569 | +€10,091 | +6.3% |
| Plant, machinery and equipment | 23 | €39,178 | €33,269 | -€5,909 | -15.1% |
| Other tangible fixed assets | 26 | €120,300 | €136,300 | +€16,000 | +13.3% |
| Current assets | 29/58 | €122,184 | €64,877 | -€57,307 | -46.9% |
| Amounts receivable within one year | 40/41 | €7,099 | €20,137 | +€13,038 | +183.7% |
| Trade receivables | 40 | €455 | €2,857 | +€2,402 | +528.0% |
| Other amounts receivable | 41 | €6,644 | €17,279 | +€10,635 | +160.1% |
| Cash at bank and in hand | 54/58 | €115,085 | €44,740 | -€70,345 | -61.1% |
| Total equity and liabilities | 10/49 | €281,662 | €234,446 | -€47,217 | -16.8% |
| Equity | 10/15 | €48,536 | -€1,556 | -€50,093 | |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,464 | -€111,556 | -€50,093 | -81.5% |
| Amounts payable | 17/49 | €233,126 | €236,002 | +€2,876 | +1.2% |
| Amounts payable after more than one year | 17 | €207,562 | €207,562 | = | 0.0% |
| Financial debts | 170/4 | €207,562 | €207,562 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,563 | €28,439 | +€2,876 | +11.3% |
| Trade debts | 44 | €563 | €3,439 | +€2,876 | +510.7% |
| Suppliers | 440/4 | €563 | €3,439 | +€2,876 | +510.7% |
| Other amounts payable | 47/48 | €25,000 | €25,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,909 | €5,909 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €660 | +€273 | +70.4% |
| Gross operating margin | 9900 | -€7,571 | -€43,465 | -€35,895 | -474.1% |
| Operating profit (loss) | 9901 | -€13,867 | -€50,034 | -€36,167 | -260.8% |
| Financial charges | 65/66B | €50 | €58 | +€8 | +16.2% |
| Recurring financial charges | 65 | €50 | €58 | +€8 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,917 | -€50,093 | -€36,175 | -259.9% |
| Profit (loss) for the period | 9904 | -€13,917 | -€50,093 | -€36,175 | -259.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,917 | -€50,093 | -€36,175 | -259.9% |
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 12 October 2026 via checked.be.