HESTERS: 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.
HESTERS
Largest movements
- Receivables within one year +€95,692
up €95,692 (+18.3%), from €522,760 to €618,452
of which Trade receivables: +€100,879
- Cash -€94,178
down €94,178 (-18.6%), from €506,405 to €412,227
mainly Receivables within one year (-€95,692) and Trade debts (-€27,673)
- Tangible fixed assets -€31,327
down €31,327 (-21.9%), from €142,914 to €111,587
of which Furniture and vehicles: -€34,101
- Reserves +€29,930
up €29,930 (+4.2%), from €712,104 to €742,034
of which Distributable reserves: +€29,930
- Trade debts -€27,673
down €27,673 (-10.7%), from €258,645 to €230,971
- Debts after one year -€19,582
down €19,582 (-37.9%), from €51,627 to €32,045
- Tax, wage and social debts -€13,099
down €13,099 (-11.8%), from €111,304 to €98,205
of which Taxes: -€7,490
- Gross operating margin +€33,320
up €33,320 (+4.9%), from €674,072 to €707,392
- Staff costs +€27,093
up €27,093 (+4.7%), from €575,431 to €602,524
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 | €1,172,538 | €1,142,738 | -€29,801 | -2.5% |
| Fixed assets | 21/28 | €143,373 | €112,059 | -€31,314 | -21.8% |
| Tangible fixed assets | 22/27 | €142,914 | €111,587 | -€31,327 | -21.9% |
| Plant, machinery and equipment | 23 | €32,947 | €35,721 | +€2,774 | +8.4% |
| Furniture and vehicles | 24 | €109,967 | €75,866 | -€34,101 | -31.0% |
| Financial fixed assets | 28 | €459 | €472 | +€13 | +2.8% |
| Current assets | 29/58 | €1,029,165 | €1,030,679 | +€1,513 | +0.1% |
| Amounts receivable within one year | 40/41 | €522,760 | €618,452 | +€95,692 | +18.3% |
| Trade receivables | 40 | €481,892 | €582,771 | +€100,879 | +20.9% |
| Other amounts receivable | 41 | €40,868 | €35,681 | -€5,187 | -12.7% |
| Cash at bank and in hand | 54/58 | €506,405 | €412,227 | -€94,178 | -18.6% |
| Total equity and liabilities | 10/49 | €1,172,538 | €1,142,738 | -€29,801 | -2.5% |
| Equity | 10/15 | €732,004 | €761,934 | +€29,930 | +4.1% |
| Contributions | 10/11 | €19,900 | €19,900 | = | 0.0% |
| Reserves | 13 | €712,104 | €742,034 | +€29,930 | +4.2% |
| Non-distributable reserves | 130/1 | €1,990 | €1,990 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,990 | €1,990 | = | 0.0% |
| Distributable reserves | 133 | €710,114 | €740,044 | +€29,930 | +4.2% |
| Amounts payable | 17/49 | €440,534 | €380,803 | -€59,731 | -13.6% |
| Amounts payable after more than one year | 17 | €51,627 | €32,045 | -€19,582 | -37.9% |
| Financial debts | 170/4 | €51,627 | €32,045 | -€19,582 | -37.9% |
| Amounts payable within one year | 42/48 | €388,907 | €348,758 | -€40,149 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €18,958 | €19,582 | +€624 | +3.3% |
| Trade debts | 44 | €258,645 | €230,971 | -€27,673 | -10.7% |
| Suppliers | 440/4 | €258,645 | €230,971 | -€27,673 | -10.7% |
| Taxes, remuneration and social security | 45 | €111,304 | €98,205 | -€13,099 | -11.8% |
| Taxes | 450/3 | €29,655 | €22,165 | -€7,490 | -25.3% |
| Remuneration and social security | 454/9 | €81,649 | €76,040 | -€5,609 | -6.9% |
| Remuneration, social security and pensions | 62 | €575,431 | €602,524 | +€27,093 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,042 | €49,775 | -€268 | -0.5% |
| Other operating charges | 640/8 | €2,731 | €2,788 | +€57 | +2.1% |
| Gross operating margin | 9900 | €674,072 | €707,392 | +€33,320 | +4.9% |
| Operating profit (loss) | 9901 | €45,868 | €52,306 | +€6,438 | +14.0% |
| Financial income | 75/76B | €7,026 | €9,757 | +€2,732 | +38.9% |
| Recurring financial income | 75 | €7,026 | €9,757 | +€2,732 | +38.9% |
| Financial charges | 65/66B | €16,758 | €16,157 | -€602 | -3.6% |
| Recurring financial charges | 65 | €16,758 | €16,157 | -€602 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €36,135 | €45,906 | +€9,771 | +27.0% |
| Income taxes | 67/77 | €14,133 | €15,976 | +€1,843 | +13.0% |
| Profit (loss) for the period | 9904 | €22,002 | €29,930 | +€7,928 | +36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,002 | €29,930 | +€7,928 | +36.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.