HES ELEKTRO: 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.
HES ELEKTRO
Largest movements
- Tangible fixed assets +€47,855
up €47,855 (+1,279%), from €3,742 to €51,597
of which Furniture and vehicles: +€50,629
- Cash +€31,415
up €31,415 (+40.2%), from €78,082 to €109,497
mainly Debts after one year (+€34,033) and Net result for the year (+€23,703)
- Receivables within one year -€15,091
down €15,091 (-14.1%), from €106,731 to €91,641
of which Trade receivables: -€8,011
- Debts after one year +€34,033
up €34,033 (+1,214%), from €2,803 to €36,836
- Reserves +€20,000
up €20,000 (+72.7%), from €27,500 to €47,500
- Tax, wage and social debts -€11,350
down €11,350 (-53.5%), from €21,200 to €9,850
- Trade debts +€9,285
up €9,285 (+38.3%), from €24,236 to €33,520
- Current portion of long-term debt +€8,509
up €8,509 (+490%), from €1,737 to €10,246
- Depreciation +€7,447
up €7,447 (+179%), from €4,158 to €11,604
- Taxes -€4,037
down €4,037 (-28.0%), from €14,400 to €10,363
- Financial charges +€1,831
up €1,831 (+391%), from €468 to €2,299
- Financial income +€1,264
up €1,264 (+134%), from €941 to €2,206
- Other operating charges +€979
up €979 (+115%), from €854 to €1,833
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 | €188,554 | €252,734 | +€64,180 | +34.0% |
| Fixed assets | 21/28 | €3,742 | €51,597 | +€47,855 | +1,279% |
| Tangible fixed assets | 22/27 | €3,742 | €51,597 | +€47,855 | +1,279% |
| Plant, machinery and equipment | 23 | €1,281 | €968 | -€314 | -24.5% |
| Furniture and vehicles | 24 | - | €50,629 | +€50,629 | |
| Leasing and similar rights | 25 | €2,460 | - | -€2,460 | |
| Current assets | 29/58 | €184,813 | €201,138 | +€16,325 | +8.8% |
| Amounts receivable within one year | 40/41 | €106,731 | €91,641 | -€15,091 | -14.1% |
| Trade receivables | 40 | €83,569 | €75,558 | -€8,011 | -9.6% |
| Other amounts receivable | 41 | €23,162 | €16,083 | -€7,079 | -30.6% |
| Cash at bank and in hand | 54/58 | €78,082 | €109,497 | +€31,415 | +40.2% |
| Total equity and liabilities | 10/49 | €188,554 | €252,734 | +€64,180 | +34.0% |
| Equity | 10/15 | €138,578 | €162,281 | +€23,703 | +17.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €27,500 | €47,500 | +€20,000 | +72.7% |
| Distributable reserves | 133 | €27,500 | €47,500 | +€20,000 | +72.7% |
| Profit (loss) carried forward | 14 | €106,078 | €109,781 | +€3,703 | +3.5% |
| Amounts payable | 17/49 | €49,976 | €90,453 | +€40,477 | +81.0% |
| Amounts payable after more than one year | 17 | €2,803 | €36,836 | +€34,033 | +1,214% |
| Financial debts | 170/4 | €2,803 | €36,836 | +€34,033 | +1,214% |
| Amounts payable within one year | 42/48 | €47,173 | €53,617 | +€6,444 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €1,737 | €10,246 | +€8,509 | +490% |
| Trade debts | 44 | €24,236 | €33,520 | +€9,285 | +38.3% |
| Suppliers | 440/4 | €24,236 | €33,520 | +€9,285 | +38.3% |
| Taxes, remuneration and social security | 45 | €21,200 | €9,850 | -€11,350 | -53.5% |
| Taxes | 450/3 | €21,200 | €9,850 | -€11,350 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,158 | €11,604 | +€7,447 | +179% |
| Other operating charges | 640/8 | €854 | €1,833 | +€979 | +115% |
| Gross operating margin | 9900 | €47,563 | €47,596 | +€33 | +0.1% |
| Operating profit (loss) | 9901 | €42,551 | €34,158 | -€8,393 | -19.7% |
| Financial income | 75/76B | €941 | €2,206 | +€1,264 | +134% |
| Recurring financial income | 75 | €941 | €2,206 | +€1,264 | +134% |
| Financial charges | 65/66B | €468 | €2,299 | +€1,831 | +391% |
| Recurring financial charges | 65 | €468 | €2,299 | +€1,831 | +391% |
| Profit (loss) for the period before taxes | 9903 | €43,024 | €34,065 | -€8,959 | -20.8% |
| Income taxes | 67/77 | €14,400 | €10,363 | -€4,037 | -28.0% |
| Profit (loss) for the period | 9904 | €28,624 | €23,703 | -€4,922 | -17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,624 | €23,703 | -€4,922 | -17.2% |
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.