Hexagon Advisory: 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.
Hexagon Advisory
Largest movements
- Cash -€46,968
down €46,968 (-26.5%), from €177,248 to €130,280
mainly Contributions, distributions and other (-€313,776) and Tax, wage and social debts (-€13,985)
- Receivables within one year +€8,531
up €8,531 (+5.3%), from €159,939 to €168,470
of which Trade receivables: +€7,377
- Reserves -€85,652
down €85,652 (-100%), from €85,652 to €0
- Other debts +€63,784
up €63,784 (+32.5%), from €196,498 to €260,282
- Tax, wage and social debts -€13,985
down €13,985 (-40.3%), from €34,731 to €20,745
- Gross operating margin +€63,939
up €63,939 (+27.0%), from €237,187 to €301,125
- Taxes +€14,848
up €14,848 (+26.5%), from €55,932 to €70,780
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 | €337,764 | €301,458 | -€36,306 | -10.7% |
| Fixed assets | 21/28 | €247 | €2,343 | +€2,097 | +850% |
| Tangible fixed assets | 22/27 | €247 | €2,343 | +€2,097 | +850% |
| Furniture and vehicles | 24 | €247 | €2,343 | +€2,097 | +850% |
| Current assets | 29/58 | €337,518 | €299,115 | -€38,403 | -11.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €159,939 | €168,470 | +€8,531 | +5.3% |
| Trade receivables | 40 | €156,872 | €164,250 | +€7,377 | +4.7% |
| Other amounts receivable | 41 | €3,067 | €4,220 | +€1,153 | +37.6% |
| Cash at bank and in hand | 54/58 | €177,248 | €130,280 | -€46,968 | -26.5% |
| Deferred charges and accrued income | 490/1 | €330 | €364 | +€34 | +10.4% |
| Total equity and liabilities | 10/49 | €337,764 | €301,458 | -€36,306 | -10.7% |
| Equity | 10/15 | €104,202 | €18,550 | -€85,652 | -82.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €85,652 | €0 | -€85,652 | -100% |
| Distributable reserves | 133 | €85,652 | €0 | -€85,652 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €233,562 | €282,908 | +€49,346 | +21.1% |
| Amounts payable within one year | 42/48 | €233,562 | €282,908 | +€49,346 | +21.1% |
| Trade debts | 44 | €2,333 | €1,881 | -€453 | -19.4% |
| Suppliers | 440/4 | €2,333 | €1,881 | -€453 | -19.4% |
| Taxes, remuneration and social security | 45 | €34,731 | €20,745 | -€13,985 | -40.3% |
| Taxes | 450/3 | €34,731 | €20,745 | -€13,985 | -40.3% |
| Other amounts payable | 47/48 | €196,498 | €260,282 | +€63,784 | +32.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,689 | €1,153 | -€1,536 | -57.1% |
| Other operating charges | 640/8 | €1,063 | €1,032 | -€31 | -2.9% |
| Gross operating margin | 9900 | €237,187 | €301,125 | +€63,939 | +27.0% |
| Operating profit (loss) | 9901 | €233,434 | €298,940 | +€65,506 | +28.1% |
| Financial income | 75/76B | €2,007 | €80 | -€1,928 | -96.0% |
| Recurring financial income | 75 | €2,007 | €80 | -€1,928 | -96.0% |
| Financial charges | 65/66B | €133 | €116 | -€17 | -12.5% |
| Recurring financial charges | 65 | €133 | €116 | -€17 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €235,309 | €298,904 | +€63,595 | +27.0% |
| Income taxes | 67/77 | €55,932 | €70,780 | +€14,848 | +26.5% |
| Profit (loss) for the period | 9904 | €179,377 | €228,124 | +€48,747 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €179,377 | €228,124 | +€48,747 | +27.2% |
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 13 October 2026 via checked.be.