HEST: 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.
HEST
Largest movements
- Tangible fixed assets -€2,064
down €2,064 (-1.4%), from €142,891 to €140,827
- Cash +€1,732
up €1,732 (+412.0%), from €420 to €2,152
mainly Net result for the year (+€2,407) and Depreciation (+€2,064)
- Other debts -€3,280
down €3,280 (-5.4%), from €60,911 to €57,631
- Reserves +€2,407
up €2,407 (+35.8%), from €6,715 to €9,123
- Gross operating margin +€1,145
up €1,145 (+15.1%), from €7,576 to €8,721
- Taxes +€701
up €701 (+339.2%), from €207 to €907
- Other operating charges +€155
up €155 (+5.0%), from €3,128 to €3,283
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 | €144,341 | €142,979 | -€1,362 | -0.9% |
| Fixed assets | 21/28 | €142,891 | €140,827 | -€2,064 | -1.4% |
| Tangible fixed assets | 22/27 | €142,891 | €140,827 | -€2,064 | -1.4% |
| Land and buildings | 22 | €142,891 | €140,827 | -€2,064 | -1.4% |
| Current assets | 29/58 | €1,450 | €2,152 | +€702 | +48.4% |
| Cash at bank and in hand | 54/58 | €420 | €2,152 | +€1,732 | +412.0% |
| Deferred charges and accrued income | 490/1 | €1,030 | - | -€1,030 | |
| Total equity and liabilities | 10/49 | €144,341 | €142,979 | -€1,362 | -0.9% |
| Equity | 10/15 | €81,457 | €83,865 | +€2,407 | +3.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Outside capital | 11 | €62,000 | - | -€62,000 | |
| Other | 1109/19 | €62,000 | - | -€62,000 | |
| Reserves | 13 | €6,715 | €9,123 | +€2,407 | +35.8% |
| Distributable reserves | 133 | €6,715 | €9,123 | +€2,407 | +35.8% |
| Profit (loss) carried forward | 14 | €12,742 | €12,742 | = | 0.0% |
| Amounts payable | 17/49 | €62,884 | €59,115 | -€3,769 | -6.0% |
| Amounts payable within one year | 42/48 | €62,884 | €59,115 | -€3,769 | -6.0% |
| Trade debts | 44 | €1,766 | €576 | -€1,190 | -67.4% |
| Suppliers | 440/4 | €1,766 | €576 | -€1,190 | -67.4% |
| Taxes, remuneration and social security | 45 | €207 | €907 | +€701 | +339.2% |
| Taxes | 450/3 | €207 | €907 | +€701 | +339.2% |
| Other amounts payable | 47/48 | €60,911 | €57,631 | -€3,280 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,064 | €2,064 | = | 0.0% |
| Other operating charges | 640/8 | €3,128 | €3,283 | +€155 | +5.0% |
| Gross operating margin | 9900 | €7,576 | €8,721 | +€1,145 | +15.1% |
| Operating profit (loss) | 9901 | €2,384 | €3,374 | +€990 | +41.5% |
| Financial charges | 65/66B | €113 | €60 | -€53 | -46.7% |
| Recurring financial charges | 65 | €113 | €60 | -€53 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €2,272 | €3,314 | +€1,043 | +45.9% |
| Income taxes | 67/77 | €207 | €907 | +€701 | +339.2% |
| Profit (loss) for the period | 9904 | €2,065 | €2,407 | +€342 | +16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,065 | €2,407 | +€342 | +16.6% |
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 30 September 2026 via checked.be.