HEX 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.
HEX MANAGEMENT
Largest movements
- Cash -€22,726
down €22,726 (-8.8%), from €257,837 to €235,111
mainly Contributions, distributions and other (-€26,623) and Receivables within one year (-€14,786)
- Receivables within one year +€14,786
up €14,786 (+48,258%), from €31 to €14,817
- Tangible fixed assets -€13,040
down €13,040 (-28.0%), from €46,603 to €33,563
of which Furniture and vehicles: -€9,965
- Tax, wage and social debts -€10,748
down €10,748 (-79.1%), from €13,585 to €2,837
- Reserves -€10,051
down €10,051 (-1.5%), from €677,095 to €667,043
- Financial income -€152,783
down €152,783 (-98.8%), from €154,683 to €1,900
- Taxes -€14,318
down €14,318 (-69.2%), from €20,697 to €6,379
- Gross operating margin -€2,536
down €2,536 (-6.7%), from €37,637 to €35,101
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 | €718,858 | €697,929 | -€20,929 | -2.9% |
| Fixed assets | 21/28 | €459,703 | €446,663 | -€13,040 | -2.8% |
| Tangible fixed assets | 22/27 | €46,603 | €33,563 | -€13,040 | -28.0% |
| Furniture and vehicles | 24 | €27,743 | €17,778 | -€9,965 | -35.9% |
| Other tangible fixed assets | 26 | €18,860 | €15,784 | -€3,076 | -16.3% |
| Financial fixed assets | 28 | €413,100 | €413,100 | = | 0.0% |
| Current assets | 29/58 | €259,155 | €251,267 | -€7,889 | -3.0% |
| Amounts receivable within one year | 40/41 | €31 | €14,817 | +€14,786 | +48,258% |
| Other amounts receivable | 41 | €31 | €14,817 | +€14,786 | +48,258% |
| Cash at bank and in hand | 54/58 | €257,837 | €235,111 | -€22,726 | -8.8% |
| Deferred charges and accrued income | 490/1 | €1,287 | €1,339 | +€52 | +4.0% |
| Total equity and liabilities | 10/49 | €718,858 | €697,929 | -€20,929 | -2.9% |
| Equity | 10/15 | €702,095 | €692,043 | -€10,051 | -1.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €677,095 | €667,043 | -€10,051 | -1.5% |
| Distributable reserves | 133 | €677,095 | €667,043 | -€10,051 | -1.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €16,764 | €5,886 | -€10,878 | -64.9% |
| Amounts payable within one year | 42/48 | €16,764 | €5,886 | -€10,878 | -64.9% |
| Trade debts | 44 | €117 | €95 | -€22 | -18.4% |
| Suppliers | 440/4 | €117 | €95 | -€22 | -18.4% |
| Taxes, remuneration and social security | 45 | €13,585 | €2,837 | -€10,748 | -79.1% |
| Taxes | 450/3 | €13,585 | €2,837 | -€10,748 | -79.1% |
| Other amounts payable | 47/48 | €3,062 | €2,954 | -€108 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,040 | €13,040 | = | 0.0% |
| Other operating charges | 640/8 | €889 | €856 | -€33 | -3.7% |
| Gross operating margin | 9900 | €37,637 | €35,101 | -€2,536 | -6.7% |
| Operating profit (loss) | 9901 | €23,708 | €21,205 | -€2,503 | -10.6% |
| Financial income | 75/76B | €154,683 | €1,900 | -€152,783 | -98.8% |
| Recurring financial income | 75 | €154,683 | €1,900 | -€152,783 | -98.8% |
| Financial charges | 65/66B | €0 | €154 | +€154 | |
| Recurring financial charges | 65 | €0 | €154 | +€154 | |
| Profit (loss) for the period before taxes | 9903 | €178,391 | €22,950 | -€155,440 | -87.1% |
| Income taxes | 67/77 | €20,697 | €6,379 | -€14,318 | -69.2% |
| Profit (loss) for the period | 9904 | €157,693 | €16,571 | -€141,122 | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €157,693 | €16,571 | -€141,122 | -89.5% |
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 30 October 2026 via checked.be.