HESTRA: 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.
HESTRA
Largest movements
- Tangible fixed assets +€149,824
up €149,824 (+48.2%), from €311,051 to €460,875
of which Land and buildings: +€141,458
- Receivables within one year -€35,013
down €35,013 (-47.6%), from €73,588 to €38,575
of which Other amounts receivable: -€51,226
- Cash +€17,616
up €17,616 (+63.1%), from €27,913 to €45,529
mainly Debts after one year (+€262,144) and Receivables within one year (+€35,013)
- Debts after one year +€262,144
up €262,144 (+717%), from €36,565 to €298,709
- Trade debts -€174,421
down €174,421 (-77.5%), from €224,942 to €50,521
- Reserves +€15,937
up €15,937 (+11.9%), from €134,277 to €150,214
of which Distributable reserves: +€15,937
- Current portion of long-term debt +€15,345
up €15,345 (+213%), from €7,211 to €22,556
- Accrued charges and deferred income +€11,810
new in 2025: €11,810
- Gross operating margin +€28,491
up €28,491 (+66.1%), from €43,101 to €71,592
- Financial charges +€16,848
up €16,848 (+254%), from €6,646 to €23,494
- Other operating charges -€16,681
down €16,681 (-78.9%), from €21,141 to €4,459
- Depreciation +€7,976
up €7,976 (+67.3%), from €11,857 to €19,832
- Taxes +€4,491
up €4,491 (+173%), from €2,592 to €7,083
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 | €447,164 | €576,791 | +€129,628 | +29.0% |
| Fixed assets | 21/28 | €311,051 | €461,080 | +€150,029 | +48.2% |
| Tangible fixed assets | 22/27 | €311,051 | €460,875 | +€149,824 | +48.2% |
| Land and buildings | 22 | €299,038 | €440,496 | +€141,458 | +47.3% |
| Plant, machinery and equipment | 23 | €4,465 | €3,438 | -€1,027 | -23.0% |
| Furniture and vehicles | 24 | €7,548 | €16,942 | +€9,393 | +124% |
| Financial fixed assets | 28 | - | €205 | +€205 | |
| Current assets | 29/58 | €136,113 | €115,712 | -€20,401 | -15.0% |
| Amounts receivable after more than one year | 29 | €34,580 | €31,300 | -€3,280 | -9.5% |
| Other amounts receivable | 291 | €34,580 | €31,300 | -€3,280 | -9.5% |
| Stocks and contracts in progress | 3 | €32 | - | -€32 | |
| Stocks | 30/36 | €32 | - | -€32 | |
| Amounts receivable within one year | 40/41 | €73,588 | €38,575 | -€35,013 | -47.6% |
| Trade receivables | 40 | €21,660 | €37,874 | +€16,213 | +74.9% |
| Other amounts receivable | 41 | €51,928 | €701 | -€51,226 | -98.6% |
| Cash at bank and in hand | 54/58 | €27,913 | €45,529 | +€17,616 | +63.1% |
| Deferred charges and accrued income | 490/1 | - | €308 | +€308 | |
| Total equity and liabilities | 10/49 | €447,164 | €576,791 | +€129,628 | +29.0% |
| Equity | 10/15 | €154,277 | €170,214 | +€15,937 | +10.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €134,277 | €150,214 | +€15,937 | +11.9% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €132,277 | €148,214 | +€15,937 | +12.0% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €287,886 | €401,577 | +€113,691 | +39.5% |
| Amounts payable after more than one year | 17 | €36,565 | €298,709 | +€262,144 | +717% |
| Financial debts | 170/4 | €36,565 | €298,709 | +€262,144 | +717% |
| Amounts payable within one year | 42/48 | €251,321 | €91,058 | -€160,263 | -63.8% |
| Current portion of amounts payable after more than one year | 42 | €7,211 | €22,556 | +€15,345 | +213% |
| Trade debts | 44 | €224,942 | €50,521 | -€174,421 | -77.5% |
| Suppliers | 440/4 | €224,942 | €50,521 | -€174,421 | -77.5% |
| Taxes, remuneration and social security | 45 | €15,663 | €8,167 | -€7,496 | -47.9% |
| Taxes | 450/3 | €15,663 | €8,167 | -€7,496 | -47.9% |
| Other amounts payable | 47/48 | €3,504 | €9,813 | +€6,309 | +180% |
| Accrued charges and deferred income | 492/3 | - | €11,810 | +€11,810 | |
| Remuneration, social security and pensions | 62 | €59 | €1,085 | +€1,026 | +1,746% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,857 | €19,832 | +€7,976 | +67.3% |
| Other operating charges | 640/8 | €21,141 | €4,459 | -€16,681 | -78.9% |
| Gross operating margin | 9900 | €43,101 | €71,592 | +€28,491 | +66.1% |
| Operating profit (loss) | 9901 | €10,045 | €46,216 | +€36,171 | +360% |
| Financial income | 75/76B | €939 | €297 | -€642 | -68.3% |
| Recurring financial income | 75 | €939 | €297 | -€642 | -68.3% |
| Financial charges | 65/66B | €6,646 | €23,494 | +€16,848 | +254% |
| Recurring financial charges | 65 | €6,646 | €23,494 | +€16,848 | +254% |
| Profit (loss) for the period before taxes | 9903 | €4,338 | €23,020 | +€18,682 | +431% |
| Income taxes | 67/77 | €2,592 | €7,083 | +€4,491 | +173% |
| Profit (loss) for the period | 9904 | €1,746 | €15,937 | +€14,191 | +813% |
| Profit (loss) for the period to be appropriated | 9905 | €1,746 | €15,937 | +€14,191 | +813% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.