HEXORAY: what changed
Two fiscal 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.
HEXORAY
Largest movements
- Intangible fixed assets -€13,908
down €13,908 (-50.6%), from €27,481 to €13,573
- Receivables within one year -€5,420
down €5,420 (-61.1%), from €8,874 to €3,454
- Tangible fixed assets -€1,692
down €1,692 (-79.4%), from €2,132 to €440
- Profit (loss) carried forward -€23,847
down €23,847 (-15.8%), from -€150,583 to -€174,431
- Other debts +€1,524
up €1,524 (+2.1%), from €73,277 to €74,800
- Trade debts +€1,213
up €1,213 (+89.1%), from €1,361 to €2,573
- Depreciation -€4,269
down €4,269 (-21.5%), from €19,869 to €15,599
- Other operating charges +€787
new in 2025: €787
- Gross operating margin -€150
down €150 (-2.1%), from -€7,253 to -€7,403
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.
Cash bridge derived
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 | €79,076 | €57,965 | -€21,111 | -26.7% |
| Fixed assets | 21/28 | €29,613 | €14,013 | -€15,599 | -52.7% |
| Intangible fixed assets | 21 | €27,481 | €13,573 | -€13,908 | -50.6% |
| Tangible fixed assets | 22/27 | €2,132 | €440 | -€1,692 | -79.4% |
| Plant, machinery and equipment | 23 | €2,132 | €440 | -€1,692 | -79.4% |
| Current assets | 29/58 | €49,463 | €43,951 | -€5,512 | -11.1% |
| Stocks and contracts in progress | 3 | €40,468 | €40,468 | = | 0.0% |
| Stocks | 30/36 | €40,468 | €40,468 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,874 | €3,454 | -€5,420 | -61.1% |
| Other amounts receivable | 41 | €8,874 | €3,454 | -€5,420 | -61.1% |
| Cash at bank and in hand | 54/58 | €120 | €29 | -€92 | -76.0% |
| Total equity and liabilities | 10/49 | €79,076 | €57,965 | -€21,111 | -26.7% |
| Equity | 10/15 | €4,438 | -€19,409 | -€23,847 | |
| Contributions | 10/11 | €155,022 | €155,022 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€150,583 | -€174,431 | -€23,847 | -15.8% |
| Amounts payable | 17/49 | €74,637 | €77,374 | +€2,736 | +3.7% |
| Amounts payable within one year | 42/48 | €74,637 | €77,374 | +€2,736 | +3.7% |
| Trade debts | 44 | €1,361 | €2,573 | +€1,213 | +89.1% |
| Suppliers | 440/4 | €1,361 | €2,573 | +€1,213 | +89.1% |
| Other amounts payable | 47/48 | €73,277 | €74,800 | +€1,524 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,869 | €15,599 | -€4,269 | -21.5% |
| Other operating charges | 640/8 | - | €787 | +€787 | |
| Gross operating margin | 9900 | -€7,253 | -€7,403 | -€150 | -2.1% |
| Operating profit (loss) | 9901 | -€27,122 | -€23,789 | +€3,333 | +12.3% |
| Financial charges | 65/66B | €111 | €58 | -€53 | -47.6% |
| Recurring financial charges | 65 | €111 | €58 | -€53 | -47.6% |
| Profit (loss) for the period before taxes | 9903 | -€27,233 | -€23,847 | +€3,385 | +12.4% |
| Profit (loss) for the period | 9904 | -€27,233 | -€23,847 | +€3,385 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,233 | -€23,847 | +€3,385 | +12.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.