HEX - RAYS: what changed
What changed
HEX - RAYS
NACE 62.200, Computer consultancy and computer facilities management
filed annual accounts (NBB)
Net result for the year
€3.8m
2024 · €11.7m-€7.8m
Equity
€4.0m
2024 · €8.1m-€4.2m
Cash
€9.1m
2024 · €684,103+€8.4m
Balance sheet total
€25.3m
2024 · €20.8m+€4.5m
Largest movements
Assets
- Current investments -€10.8m
down €10.8m (-75.8%), from €14.2m to €3.4m
- Cash +€8.4m
up €8.4m (+1,232%), from €684,103 to €9.1m
mainly Current investments (+€10.8m) and Accrued charges and deferred income (+€8.4m)
- Financial fixed assets +€3.7m
up €3.7m (+10,678%), from €34,942 to €3.8m
of which Affiliated companies: +€3.8m
- Intangible fixed assets +€2.1m
up €2.1m (+64.6%), from €3.3m to €5.4m
- Receivables within one year +€757,286
up €757,286 (+42.1%), from €1.8m to €2.6m
of which Other amounts receivable: +€492,054
Equity and liabilities
- Accrued charges and deferred income +€8.4m
up €8.4m (+272%), from €3.1m to €11.5m
- Profit (loss) carried forward -€4.2m
down €4.2m (-85.3%), from €4.9m to €720,419
Income statement
- Turnover -€5.7m
down €5.7m (-32.2%), from €17.7m to €12.0m
- Services and other goods +€2.0m
up €2.0m (+42.1%), from €4.8m to €6.8m
- Taxes -€964,074
down €964,074 (-84.4%), from €1.1m to €178,225
- Depreciation +€628,018
up €628,018 (+106%), from €591,977 to €1.2m
- Financial income -€558,187
down €558,187 (-57.5%), from €971,555 to €413,367
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€11.7m
Turnover
-€5.7m
Other operating income
-€4,994
Goods and materials
-€250,667
Services and other goods
-€2.0m
Staff costs
-€159,134
Depreciation
-€628,018
Other operating charges
-€1,317
Other operating items
+€453,141
Financial income
-€558,187
Financial charges
+€58,165
Taxes
+€964,074
Result 2025
€3.8m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€12.7m
Investment
+€3.8m
Financing
-€8.0m
Cash 2024
€684,103
From operations (derived)
+€12.7m
Net result for the year
+€3.8m
Depreciation
+€1.2m
Receivables within one year
-€757,286
Deferred charges and accrued income
-€273,256
Trade debts
+€88,581
Tax, wage and social debts
+€184,870
Accrued charges and deferred income
+€8.4m
Investment (derived)
+€3.8m
Investment in fixed assets (net)
-€7.0m
Current investments
+€10.8m
Financing
-€8.0m
Contributions, distributions and other
-€8.0m
Cash 2025
€9.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,803,818 | €25,282,558 | +€4.5m | +21.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €3,905,242 | €9,726,397 | +€5.8m | +149% |
| Intangible fixed assets | 21 | €3,289,964 | €5,414,247 | +€2.1m | +64.6% |
| Tangible fixed assets | 22/27 | €580,336 | €546,109 | -€34,228 | -5.9% |
| Land and buildings | 22 | €458,181 | €417,056 | -€41,125 | -9.0% |
| Plant, machinery and equipment | 23 | €5,347 | €4,672 | -€676 | -12.6% |
| Furniture and vehicles | 24 | €116,808 | €124,382 | +€7,573 | +6.5% |
| Financial fixed assets | 28 | €34,942 | €3,766,041 | +€3.7m | +10,678% |
| Affiliated companies | 280/1 | - | €3,761,051 | +€3.8m | |
| Amounts receivable | 281 | - | €3,761,051 | +€3.8m | |
| Other financial fixed assets | 284/8 | €34,942 | €4,990 | -€29,952 | -85.7% |
| Amounts receivable and cash guarantees | 285/8 | €34,942 | €4,990 | -€29,952 | -85.7% |
| Current assets | 29/58 | €16,898,576 | €15,556,161 | -€1.3m | -7.9% |
| Amounts receivable within one year | 40/41 | €1,800,157 | €2,557,443 | +€757,286 | +42.1% |
| Trade receivables | 40 | €1,459,425 | €1,724,657 | +€265,232 | +18.2% |
| Other amounts receivable | 41 | €340,732 | €832,786 | +€492,054 | +144% |
| Current investments | 50/53 | €14,247,416 | €3,443,928 | -€10.8m | -75.8% |
| Other investments | 51/53 | €14,247,416 | €3,443,928 | -€10.8m | -75.8% |
| Cash at bank and in hand | 54/58 | €684,103 | €9,114,634 | +€8.4m | +1,232% |
| Deferred charges and accrued income | 490/1 | €166,900 | €440,156 | +€273,256 | +164% |
| Total equity and liabilities | 10/49 | €20,803,818 | €25,282,558 | +€4.5m | +21.5% |
| Equity | 10/15 | €8,145,864 | €3,962,070 | -€4.2m | -51.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,180,151 | €3,180,151 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,078 | €7,078 | = | 0.0% |
| Legal reserve | 130 | €7,078 | €7,078 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,010,010 | €2,999,750 | -€10,260 | -0.3% |
| Distributable reserves | 133 | €163,064 | €173,323 | +€10,260 | +6.3% |
| Profit (loss) carried forward | 14 | €4,904,213 | €720,419 | -€4.2m | -85.3% |
| Amounts payable | 17/49 | €12,657,955 | €21,320,488 | +€8.7m | +68.4% |
| Amounts payable within one year | 42/48 | €9,568,460 | €9,841,910 | +€273,450 | +2.9% |
| Trade debts | 44 | €683,463 | €772,044 | +€88,581 | +13.0% |
| Suppliers | 440/4 | €683,463 | €772,044 | +€88,581 | +13.0% |
| Taxes, remuneration and social security | 45 | €884,996 | €1,069,866 | +€184,870 | +20.9% |
| Taxes | 450/3 | €177,596 | €6,174 | -€171,421 | -96.5% |
| Remuneration and social security | 454/9 | €707,401 | €1,063,692 | +€356,291 | +50.4% |
| Other amounts payable | 47/48 | €8,000,000 | €8,000,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,089,495 | €11,478,578 | +€8.4m | +272% |
| Operating income | 70/76A | €19,907,722 | €14,678,640 | -€5.2m | -26.3% |
| Turnover | 70 | €17,717,088 | €12,018,691 | -€5.7m | -32.2% |
| Own construction capitalised | 72 | €2,049,273 | €2,533,582 | +€484,308 | +23.6% |
| Other operating income | 74 | €131,361 | €126,367 | -€4,994 | -3.8% |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100% |
| Operating charges | 60/66A | €7,632,855 | €10,705,830 | +€3.1m | +40.3% |
| Goods for resale, raw materials and consumables | 60 | €38,065 | €288,732 | +€250,667 | +659% |
| Purchases | 600/8 | €38,065 | €288,732 | +€250,667 | +659% |
| Services and other goods | 61 | €4,779,210 | €6,791,882 | +€2.0m | +42.1% |
| Remuneration, social security and pensions | 62 | €2,212,301 | €2,371,435 | +€159,134 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €591,977 | €1,219,995 | +€628,018 | +106% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,562 | €6,562 | = | 0.0% |
| Other operating charges | 640/8 | €4,739 | €6,056 | +€1,317 | +27.8% |
| Non-recurring operating charges | 66A | - | €21,167 | +€21,167 | |
| Operating profit (loss) | 9901 | €12,274,867 | €3,972,810 | -€8.3m | -67.6% |
| Financial income | 75/76B | €971,555 | €413,367 | -€558,187 | -57.5% |
| Recurring financial income | 75 | €971,555 | €413,367 | -€558,187 | -57.5% |
| Income from financial fixed assets | 750 | €32,918 | €29,435 | -€3,482 | -10.6% |
| Income from current assets | 751 | €740,908 | €309,593 | -€431,315 | -58.2% |
| Other financial income | 752/9 | €197,729 | €74,339 | -€123,390 | -62.4% |
| Financial charges | 65/66B | €449,912 | €391,747 | -€58,165 | -12.9% |
| Recurring financial charges | 65 | €449,912 | €391,747 | -€58,165 | -12.9% |
| Debt charges | 650 | €113,821 | €153,539 | +€39,718 | +34.9% |
| Other financial charges | 652/9 | €336,091 | €238,209 | -€97,883 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €12,796,509 | €3,994,431 | -€8.8m | -68.8% |
| Income taxes | 67/77 | €1,142,298 | €178,225 | -€964,074 | -84.4% |
| Taxes | 670/3 | €1,142,298 | €178,225 | -€964,074 | -84.4% |
| Profit (loss) for the period | 9904 | €11,654,210 | €3,816,206 | -€7.8m | -67.3% |
| Transfer from tax-exempt reserves | 789 | €66,611 | €1,010,260 | +€943,649 | +1,417% |
| Transfer to tax-exempt reserves | 689 | - | €1,000,000 | +€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €11,720,821 | €3,826,466 | -€7.9m | -67.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.