HEDALA: 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.
HEDALA
Largest movements
- Cash -€17,384
down €17,384 (-5.6%), from €312,545 to €295,161
mainly Net result for the year (-€10,744) and Receivables within one year (-€4,222)
- Profit (loss) carried forward -€10,744
down €10,744, from €9,195 to -€1,548
- Financial income -€16,731
down €16,731 (-93.5%), from €17,902 to €1,171
- Taxes -€2,138
down €2,138 (-87.8%), from €2,434 to €297
- Gross operating margin -€832
down €832 (-8.9%), from -€9,360 to -€10,193
- Other operating charges +€763
up €763 (+181%), from €422 to €1,185
- Depreciation -€222
down €222 (-100%), from €222 to €0
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 | €637,893 | €625,014 | -€12,879 | -2.0% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €637,893 | €625,014 | -€12,879 | -2.0% |
| Amounts receivable within one year | 40/41 | €285,391 | €289,613 | +€4,222 | +1.5% |
| Other amounts receivable | 41 | €285,391 | €289,613 | +€4,222 | +1.5% |
| Current investments | 50/53 | €39,957 | €39,957 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €312,545 | €295,161 | -€17,384 | -5.6% |
| Deferred charges and accrued income | 490/1 | - | €282 | +€282 | |
| Total equity and liabilities | 10/49 | €637,893 | €625,014 | -€12,879 | -2.0% |
| Equity | 10/15 | €378,377 | €367,634 | -€10,744 | -2.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €356,782 | €356,782 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €354,922 | €354,922 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,195 | -€1,548 | -€10,744 | |
| Amounts payable | 17/49 | €259,516 | €257,380 | -€2,136 | -0.8% |
| Amounts payable after more than one year | 17 | €256,535 | €256,535 | = | 0.0% |
| Financial debts | 170/4 | €256,535 | €256,535 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,976 | €840 | -€2,136 | -71.8% |
| Trade debts | 44 | €579 | €840 | +€260 | +45.0% |
| Suppliers | 440/4 | €579 | €840 | +€260 | +45.0% |
| Taxes, remuneration and social security | 45 | €2,397 | €0 | -€2,397 | -100% |
| Taxes | 450/3 | €2,397 | €0 | -€2,397 | -100% |
| Accrued charges and deferred income | 492/3 | €5 | €6 | +€1 | +14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €222 | €0 | -€222 | -100% |
| Other operating charges | 640/8 | €422 | €1,185 | +€763 | +181% |
| Gross operating margin | 9900 | -€9,360 | -€10,193 | -€832 | -8.9% |
| Operating profit (loss) | 9901 | -€10,004 | -€11,377 | -€1,373 | -13.7% |
| Financial income | 75/76B | €17,902 | €1,171 | -€16,731 | -93.5% |
| Recurring financial income | 75 | €17,902 | €1,171 | -€16,731 | -93.5% |
| Financial charges | 65/66B | €200 | €240 | +€40 | +20.1% |
| Recurring financial charges | 65 | €200 | €240 | +€40 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | €7,698 | -€10,447 | -€18,145 | |
| Income taxes | 67/77 | €2,434 | €297 | -€2,138 | -87.8% |
| Profit (loss) for the period | 9904 | €5,264 | -€10,744 | -€16,007 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,264 | -€10,744 | -€16,007 |
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 26 October 2026 via checked.be.