HESYL MANAGEMENT: 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.
HESYL MANAGEMENT
Largest movements
- Tangible fixed assets +€206,128
up €206,128 (+25.2%), from €817,126 to €1.0m
of which Land and buildings: +€198,210
- Receivables within one year +€26,289
up €26,289 (+188%), from €14,005 to €40,294
of which Trade receivables: +€21,324
- Stocks and contracts +€15,018
new in 2025: €15,018
- Debts after one year +€173,474
up €173,474 (+26.9%), from €643,953 to €817,427
of which Financial debts: +€148,474
- Other debts +€67,369
up €67,369 (+98.5%), from €68,398 to €135,767
- Profit (loss) carried forward -€45,180
down €45,180 (-689%), from -€6,555 to -€51,736
- Trade debts +€38,734
up €38,734 (+640%), from €6,048 to €44,782
- Current portion of long-term debt +€10,873
up €10,873 (+19.1%), from €57,003 to €67,877
- Other operating charges +€30,170
up €30,170 (+532%), from €5,671 to €35,841
- Gross operating margin -€13,445
down €13,445 (-13.3%), from €101,210 to €87,765
- Depreciation +€6,433
up €6,433 (+10.5%), from €61,364 to €67,797
- Financial charges +€2,251
up €2,251 (+8.3%), from €27,145 to €29,396
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 | €833,946 | €1,084,118 | +€250,172 | +30.0% |
| Fixed assets | 21/28 | €818,720 | €1,024,847 | +€206,128 | +25.2% |
| Tangible fixed assets | 22/27 | €817,126 | €1,023,254 | +€206,128 | +25.2% |
| Land and buildings | 22 | €660,747 | €858,957 | +€198,210 | +30.0% |
| Plant, machinery and equipment | 23 | €7,003 | €5,556 | -€1,447 | -20.7% |
| Furniture and vehicles | 24 | €6,093 | €10,331 | +€4,237 | +69.5% |
| Other tangible fixed assets | 26 | €143,282 | €148,410 | +€5,128 | +3.6% |
| Financial fixed assets | 28 | €1,594 | €1,594 | = | 0.0% |
| Current assets | 29/58 | €15,226 | €59,271 | +€44,044 | +289% |
| Stocks and contracts in progress | 3 | - | €15,018 | +€15,018 | |
| Stocks | 30/36 | - | €15,018 | +€15,018 | |
| Amounts receivable within one year | 40/41 | €14,005 | €40,294 | +€26,289 | +188% |
| Trade receivables | 40 | €14,005 | €35,329 | +€21,324 | +152% |
| Other amounts receivable | 41 | - | €4,965 | +€4,965 | |
| Cash at bank and in hand | 54/58 | €243 | €2,331 | +€2,088 | +860% |
| Deferred charges and accrued income | 490/1 | €978 | €1,628 | +€649 | +66.4% |
| Total equity and liabilities | 10/49 | €833,946 | €1,084,118 | +€250,172 | +30.0% |
| Equity | 10/15 | €48,854 | €3,674 | -€45,180 | -92.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | €20,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €35,410 | €35,410 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,410 | €33,410 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,555 | -€51,736 | -€45,180 | -689% |
| Amounts payable | 17/49 | €785,091 | €1,080,444 | +€295,353 | +37.6% |
| Amounts payable after more than one year | 17 | €643,953 | €817,427 | +€173,474 | +26.9% |
| Financial debts | 170/4 | €472,227 | €620,701 | +€148,474 | +31.4% |
| Other amounts payable | 178/9 | €171,726 | €196,726 | +€25,000 | +14.6% |
| Amounts payable within one year | 42/48 | €141,138 | €263,017 | +€121,878 | +86.4% |
| Current portion of amounts payable after more than one year | 42 | €57,003 | €67,877 | +€10,873 | +19.1% |
| Financial debts | 43 | €1,387 | - | -€1,387 | |
| Credit institutions | 430/8 | €1,387 | - | -€1,387 | |
| Trade debts | 44 | €6,048 | €44,782 | +€38,734 | +640% |
| Suppliers | 440/4 | €6,048 | €44,782 | +€38,734 | +640% |
| Advances received on contracts in progress | 46 | - | €3,000 | +€3,000 | |
| Taxes, remuneration and social security | 45 | €8,302 | €11,591 | +€3,289 | +39.6% |
| Taxes | 450/3 | €2,702 | €291 | -€2,411 | -89.2% |
| Remuneration and social security | 454/9 | €5,600 | €11,300 | +€5,700 | +102% |
| Other amounts payable | 47/48 | €68,398 | €135,767 | +€67,369 | +98.5% |
| Non-recurring operating income | 76A | €6,256 | €3,306 | -€2,950 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,364 | €67,797 | +€6,433 | +10.5% |
| Other operating charges | 640/8 | €5,671 | €35,841 | +€30,170 | +532% |
| Gross operating margin | 9900 | €101,210 | €87,765 | -€13,445 | -13.3% |
| Operating profit (loss) | 9901 | €34,175 | -€15,873 | -€50,049 | |
| Financial income | 75/76B | €4 | €359 | +€355 | +9,420% |
| Recurring financial income | 75 | €4 | €359 | +€355 | +9,420% |
| Financial charges | 65/66B | €27,145 | €29,396 | +€2,251 | +8.3% |
| Recurring financial charges | 65 | €27,145 | €29,396 | +€2,251 | +8.3% |
| Profit (loss) for the period before taxes | 9903 | €7,034 | -€44,910 | -€51,945 | |
| Income taxes | 67/77 | €169 | €270 | +€101 | +59.9% |
| Profit (loss) for the period | 9904 | €6,865 | -€45,180 | -€52,046 | |
| Transfer from tax-exempt reserves | 789 | €1,979 | - | -€1,979 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,844 | -€45,180 | -€54,025 |
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 17 October 2026 via checked.be.