Hone Heke: 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.
Hone Heke
Largest movements
- Cash -€172,153
down €172,153 (-66.7%), from €257,973 to €85,820
mainly Investment in fixed assets (net) (-€95,413) and Contributions, distributions and other (-€75,355)
- Tangible fixed assets +€83,135
up €83,135 (+425%), from €19,544 to €102,679
of which Furniture and vehicles: +€71,518
- Receivables within one year +€17,650
up €17,650 (+111%), from €15,947 to €33,597
of which Trade receivables: +€13,448
- Other debts -€45,363
down €45,363 (-36.5%), from €124,189 to €78,826
- Reserves -€17,068
down €17,068 (-11.0%), from €154,664 to €137,596
- Accrued charges and deferred income -€7,060
down €7,060 (-48.2%), from €14,651 to €7,591
- Tax, wage and social debts +€6,120
up €6,120 (+236%), from €2,598 to €8,718
- Trade debts -€5,307
down €5,307 (-55.2%), from €9,606 to €4,299
- Depreciation +€7,104
up €7,104 (+137%), from €5,173 to €12,277
- Gross operating margin -€3,931
down €3,931 (-4.0%), from €97,954 to €94,023
- Financial charges -€3,661
down €3,661 (-97.1%), from €3,769 to €108
- Taxes -€3,278
down €3,278 (-12.4%), from €26,406 to €23,128
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 | €318,369 | €247,690 | -€70,679 | -22.2% |
| Fixed assets | 21/28 | €43,758 | €126,894 | +€83,135 | +190% |
| Tangible fixed assets | 22/27 | €19,544 | €102,679 | +€83,135 | +425% |
| Plant, machinery and equipment | 23 | €2,259 | €1,703 | -€556 | -24.6% |
| Furniture and vehicles | 24 | €4,713 | €76,231 | +€71,518 | +1,518% |
| Other tangible fixed assets | 26 | €12,572 | €24,744 | +€12,172 | +96.8% |
| Financial fixed assets | 28 | €24,215 | €24,215 | = | 0.0% |
| Current assets | 29/58 | €274,611 | €120,796 | -€153,814 | -56.0% |
| Amounts receivable within one year | 40/41 | €15,947 | €33,597 | +€17,650 | +111% |
| Trade receivables | 40 | €13,189 | €26,637 | +€13,448 | +102% |
| Other amounts receivable | 41 | €2,758 | €6,960 | +€4,202 | +152% |
| Cash at bank and in hand | 54/58 | €257,973 | €85,820 | -€172,153 | -66.7% |
| Deferred charges and accrued income | 490/1 | €691 | €1,380 | +€689 | +99.7% |
| Total equity and liabilities | 10/49 | €318,369 | €247,690 | -€70,679 | -22.2% |
| Equity | 10/15 | €165,947 | €147,689 | -€18,258 | -11.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €154,664 | €137,596 | -€17,068 | -11.0% |
| Distributable reserves | 133 | €154,664 | €137,596 | -€17,068 | -11.0% |
| Profit (loss) carried forward | 14 | €5,083 | €3,893 | -€1,190 | -23.4% |
| Amounts payable | 17/49 | €152,422 | €100,001 | -€52,421 | -34.4% |
| Amounts payable within one year | 42/48 | €137,771 | €92,410 | -€45,362 | -32.9% |
| Financial debts | 43 | €1,378 | €566 | -€812 | -58.9% |
| Other loans | 439 | €1,378 | €566 | -€812 | -58.9% |
| Trade debts | 44 | €9,606 | €4,299 | -€5,307 | -55.2% |
| Suppliers | 440/4 | €9,606 | €4,299 | -€5,307 | -55.2% |
| Taxes, remuneration and social security | 45 | €2,598 | €8,718 | +€6,120 | +236% |
| Taxes | 450/3 | €2,598 | €8,718 | +€6,120 | +236% |
| Other amounts payable | 47/48 | €124,189 | €78,826 | -€45,363 | -36.5% |
| Accrued charges and deferred income | 492/3 | €14,651 | €7,591 | -€7,060 | -48.2% |
| Non-recurring operating income | 76A | €5,114 | €7,600 | +€2,486 | +48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,173 | €12,277 | +€7,104 | +137% |
| Other operating charges | 640/8 | €693 | €1,301 | +€609 | +87.8% |
| Non-recurring operating charges | 66A | €0 | €115 | +€115 | |
| Gross operating margin | 9900 | €97,954 | €94,023 | -€3,931 | -4.0% |
| Operating profit (loss) | 9901 | €92,088 | €80,330 | -€11,758 | -12.8% |
| Financial income | 75/76B | €25 | €4 | -€22 | -86.0% |
| Recurring financial income | 75 | €25 | €4 | -€22 | -86.0% |
| Financial charges | 65/66B | €3,769 | €108 | -€3,661 | -97.1% |
| Recurring financial charges | 65 | €3,769 | €108 | -€3,661 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | €88,345 | €80,226 | -€8,119 | -9.2% |
| Income taxes | 67/77 | €26,406 | €23,128 | -€3,278 | -12.4% |
| Profit (loss) for the period | 9904 | €61,939 | €57,098 | -€4,841 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €61,939 | €57,098 | -€4,841 | -7.8% |
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.