S.HEMMASH: 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.
S.HEMMASH
Largest movements
- Tangible fixed assets -€54,865
down €54,865 (-8.0%), from €683,004 to €628,139
of which Land and buildings: -€35,921
- Receivables within one year +€11,121
up €11,121 (+37.8%), from €29,449 to €40,570
- Cash +€8,271
up €8,271 (+24.1%), from €34,308 to €42,580
mainly Depreciation (+€58,009) and Net result for the year (+€41,785)
- Debts after one year -€71,743
down €71,743 (-30.6%), from €234,757 to €163,014
- Reserves +€41,785
up €41,785 (+11.5%), from €362,949 to €404,734
- Trade debts +€14,838
up €14,838 (+141%), from €10,555 to €25,393
- Gross operating margin +€37,201
up €37,201 (+27.2%), from €136,734 to €173,935
- Depreciation +€13,712
up €13,712 (+31.0%), from €44,297 to €58,009
- Other operating charges -€7,496
down €7,496 (-72.0%), from €10,411 to €2,915
- Taxes +€6,461
up €6,461 (+96.5%), from €6,692 to €13,152
- Financial charges -€2,321
down €2,321 (-18.4%), from €12,628 to €10,307
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 | €749,314 | €716,084 | -€33,230 | -4.4% |
| Fixed assets | 21/28 | €683,004 | €628,139 | -€54,865 | -8.0% |
| Tangible fixed assets | 22/27 | €683,004 | €628,139 | -€54,865 | -8.0% |
| Land and buildings | 22 | €582,577 | €546,656 | -€35,921 | -6.2% |
| Plant, machinery and equipment | 23 | €2,360 | €2,965 | +€606 | +25.7% |
| Furniture and vehicles | 24 | €98,067 | €78,518 | -€19,550 | -19.9% |
| Current assets | 29/58 | €66,310 | €87,945 | +€21,635 | +32.6% |
| Amounts receivable after more than one year | 29 | €404 | €0 | -€404 | -100% |
| Other amounts receivable | 291 | €404 | €0 | -€404 | -100% |
| Amounts receivable within one year | 40/41 | €29,449 | €40,570 | +€11,121 | +37.8% |
| Trade receivables | 40 | €29,449 | €40,570 | +€11,121 | +37.8% |
| Cash at bank and in hand | 54/58 | €34,308 | €42,580 | +€8,271 | +24.1% |
| Deferred charges and accrued income | 490/1 | €2,149 | €4,796 | +€2,647 | +123% |
| Total equity and liabilities | 10/49 | €749,314 | €716,084 | -€33,230 | -4.4% |
| Equity | 10/15 | €381,549 | €423,334 | +€41,785 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €362,949 | €404,734 | +€41,785 | +11.5% |
| Distributable reserves | 133 | €362,949 | €404,734 | +€41,785 | +11.5% |
| Amounts payable | 17/49 | €367,765 | €292,750 | -€75,015 | -20.4% |
| Amounts payable after more than one year | 17 | €234,757 | €163,014 | -€71,743 | -30.6% |
| Financial debts | 170/4 | €234,757 | €163,014 | -€71,743 | -30.6% |
| Amounts payable within one year | 42/48 | €133,008 | €129,736 | -€3,271 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €78,942 | €71,743 | -€7,198 | -9.1% |
| Trade debts | 44 | €10,555 | €25,393 | +€14,838 | +141% |
| Suppliers | 440/4 | €10,555 | €25,393 | +€14,838 | +141% |
| Taxes, remuneration and social security | 45 | €35,234 | €31,125 | -€4,109 | -11.7% |
| Taxes | 450/3 | €24,881 | €20,552 | -€4,328 | -17.4% |
| Remuneration and social security | 454/9 | €10,353 | €10,573 | +€220 | +2.1% |
| Other amounts payable | 47/48 | €8,277 | €1,475 | -€6,803 | -82.2% |
| Remuneration, social security and pensions | 62 | €48,017 | €47,825 | -€192 | -0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,297 | €58,009 | +€13,712 | +31.0% |
| Other operating charges | 640/8 | €10,411 | €2,915 | -€7,496 | -72.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €136,734 | €173,935 | +€37,201 | +27.2% |
| Operating profit (loss) | 9901 | €34,009 | €65,186 | +€31,177 | +91.7% |
| Financial income | 75/76B | €0 | €58 | +€58 | |
| Recurring financial income | 75 | €0 | €58 | +€58 | |
| Financial charges | 65/66B | €12,628 | €10,307 | -€2,321 | -18.4% |
| Recurring financial charges | 65 | €12,628 | €10,307 | -€2,321 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €21,381 | €54,937 | +€33,556 | +157% |
| Income taxes | 67/77 | €6,692 | €13,152 | +€6,461 | +96.5% |
| Profit (loss) for the period | 9904 | €14,689 | €41,785 | +€27,096 | +184% |
| Profit (loss) for the period to be appropriated | 9905 | €14,689 | €41,785 | +€27,096 | +184% |
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 22 October 2026 via checked.be.