On the other hand HEX contain only those segments of code that are execured; consequently,
incorrect
hex files contains the eeprom data in lines where each line consists of the following:
first field address then hex data in ascii format then number of bytes in the line then checksum.
while bin file consists of row data without checksum or addresses, so bin file is smaller than hex file and can be downloaded as is to the flash or eprom without processing.
Mahmood