2B HEDO
Annual accounts 2025
abbreviated format, filed on 31-08-2026, 31 days lateMoney flows
no detail for 2025Balance sheet
balance sheet total €184,479 on 31-12-2025in euro
in euro
Position in the sector
42.7%
Higher than 63% of 4,849 companies in 2025.
1.36
Higher than 60% of 4,747 companies in 2025.
19.7%
Higher than 84% of 4,770 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: bottom quarter
Staff
€50,018
Staff costs divided by the average number of full-time equivalents.
Blue and white collar1.6 blue-collar
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
184,479 | 142,058 | 147,428 | 100,987 | 31,311 | 29,795 | 41,233 | 51,318 | 50,553 | 40,554 | 1,429 | 2,812 | 2,014 | 2,006 | 1,786 | 2,309 | 3,799 | 20,566 | 89,258 | 240,308 | |
20 |
- | - | - | - | 389 | 389 | 389 | 584 | 779 | 974 | - | - | - | - | - | - | - | - | 247 | 494 | |
21/28 |
42,155 | 45,248 | 48,092 | 17,317 | 20,381 | 25,623 | 33,553 | 38,065 | 35,589 | 28,997 | - | 949 | 949 | 949 | 949 | 1,692 | 3,277 | 12,879 | 32,590 | 49,489 | |
21 |
8,975 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
22/27 |
33,179 | 45,248 | 48,092 | 17,317 | 20,381 | 25,623 | 33,553 | 38,065 | 35,589 | 28,997 | - | 949 | 949 | 949 | 949 | 1,692 | 3,277 | 12,879 | 31,790 | 48,392 | |
22 |
- | 366 | 1,106 | 1,846 | 2,586 | 3,326 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
23 |
15,424 | 19,197 | 16,188 | 15,135 | 17,124 | 21,291 | 31,415 | 36,472 | 33,199 | 25,812 | - | - | - | - | - | 268 | 1,231 | 6,225 | 11,063 | 13,592 | |
24 |
17,755 | 25,685 | 30,798 | 335 | 671 | 1,006 | 2,138 | 1,593 | 2,389 | 3,186 | - | - | - | - | - | - | 148 | 4,281 | 17,879 | 31,478 | |
26 |
- | - | - | - | - | - | - | - | - | - | - | 949 | 949 | 949 | 949 | 1,424 | 1,899 | 2,373 | 2,848 | 3,323 | |
28 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 553 | 603 | |
29/58 |
142,324 | 96,809 | 99,336 | 83,670 | 10,541 | 3,782 | 7,290 | 12,669 | 14,185 | 10,583 | 1,429 | 1,862 | 1,065 | 1,056 | 836 | 617 | 522 | 7,686 | 56,668 | 190,819 | |
29 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 204 | - | - | - | - | - | |
290 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 204 | - | - | - | - | - | |
3 |
3,610 | 3,610 | 2,830 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
30/36 |
3,610 | 3,610 | 2,830 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
40/41 |
16,537 | 251 | 59 | 945 | 904 | 895 | 1,097 | 305 | 59 | 7,801 | 492 | 492 | 492 | 492 | 492 | 598 | 520 | 4,625 | 40,998 | 189,034 | |
40 |
16,537 | - | - | - | - | - | - | - | - | 433 | 433 | 433 | 433 | 433 | 433 | 433 | 433 | 4,326 | 13,864 | 189,034 | |
41 |
- | 251 | 59 | 945 | 904 | 895 | 1,097 | 305 | 59 | 7,368 | 59 | 59 | 59 | 59 | 59 | 165 | 87 | 299 | 27,134 | - | |
54/58 |
115,585 | 92,949 | 96,446 | 82,725 | 8,937 | 2,887 | 6,194 | 12,364 | 14,126 | 2,781 | 936 | 1,370 | 573 | 564 | 140 | 19 | 2 | 3,061 | 15,670 | 1,785 | |
490/1 |
6,593 | - | - | - | 700 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
184,479 | 142,058 | 147,428 | 100,987 | 31,311 | 29,795 | 41,233 | 51,318 | 50,553 | 40,554 | 1,429 | 2,812 | 2,014 | 2,006 | 1,786 | 2,309 | 3,799 | 20,566 | 89,258 | 240,308 | |
10/15 |
78,791 | 42,487 | 25,318 | -24,417 | -80,625 | -95,517 | -58,845 | -42,173 | -43,326 | -45,688 | -3,659 | -598 | -96 | 584 | 1,141 | 1,909 | -8,942 | 1,904 | 21,204 | 71,531 | |
10/11 |
62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | |
10 |
62,000 | 62,000 | 62,000 | 62,000 | 62,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | 62,000 | |
13 |
16,791 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | |
130/1 |
478 | 478 | 478 | 478 | 478 | 478 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | 478 | |
133 |
16,313 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
- | -19,991 | -37,160 | -86,895 | -143,103 | -157,995 | -121,323 | -104,651 | -105,804 | -108,166 | -66,137 | -63,076 | -62,574 | -61,894 | -61,337 | -60,569 | -71,420 | -60,574 | -41,274 | 9,053 | |
17/49 |
105,688 | 99,571 | 122,110 | 125,404 | 111,937 | 125,312 | 100,077 | 93,491 | 93,878 | 86,241 | 5,087 | 3,410 | 2,110 | 1,422 | 645 | 400 | 12,741 | 18,662 | 68,054 | 168,777 | |
17 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 11,484 | 26,353 | |
170/4 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 11,484 | 26,353 | |
42/48 |
104,844 | 99,571 | 122,110 | 125,404 | 111,937 | 125,312 | 100,077 | 93,491 | 93,878 | 86,241 | 5,087 | 3,410 | 2,110 | 1,422 | 645 | 400 | 12,741 | 18,662 | 56,570 | 142,423 | |
42 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 3,000 | |
43 |
- | - | - | - | - | 3,569 | - | - | - | - | - | - | - | - | - | - | 155 | - | - | - | |
430/8 |
- | - | - | - | - | 3,569 | - | - | - | - | - | - | - | - | - | - | 155 | - | - | - | |
44 |
20,234 | 51,376 | 42,808 | 70,206 | 49,274 | 46,936 | 34,734 | 19,419 | 22,313 | 16,272 | 1,210 | 755 | 755 | 401 | - | - | 8,912 | 14,198 | 52,338 | 123,773 | |
440/4 |
20,234 | 51,376 | 42,808 | 70,206 | 49,274 | 46,936 | 34,734 | 19,419 | 22,313 | 16,272 | 1,210 | 755 | 755 | 401 | - | - | 8,912 | 14,198 | 52,338 | 123,773 | |
46 |
- | - | - | - | 847 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
45 |
50,443 | 28,322 | 46,584 | 22,475 | 14,999 | 2,203 | 6,323 | 9,380 | 2,628 | - | - | 37 | 37 | 63 | 237 | - | 3,674 | 4,224 | 4,231 | 15,651 | |
450/3 |
39,030 | 11,874 | 33,091 | 15,495 | 14,325 | 2,200 | 5,677 | 8,259 | 2,628 | - | - | 37 | 37 | 63 | 237 | - | - | 550 | 342 | 11,977 | |
454/9 |
11,412 | 16,448 | 13,493 | 6,979 | 675 | 3 | 646 | 1,121 | - | - | - | - | - | - | - | - | 3,674 | 3,674 | 3,889 | 3,674 | |
47/48 |
34,167 | 19,873 | 32,718 | 32,723 | 46,817 | 72,604 | 59,020 | 64,693 | 68,937 | 69,970 | 3,877 | 2,618 | 1,318 | 958 | 408 | 400 | - | 240 | - | - | |
492/3 |
844 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Income statement | |||||||||||||||||||||
70 |
- | 435,262 | 439,838 | 309,192 | 87,259 | 38,599 | 178,250 | 155,686 | 120,540 | - | - | - | - | - | 1,488 | - | 46 | 26,501 | 135,990 | 572,486 | |
76A |
- | - | - | - | 687 | - | - | - | 75 | 3 | - | - | - | - | - | 12,525 | 366 | 4,982 | 10 | 474 | |
9900 |
180,883 | 98,095 | 139,458 | 121,472 | 36,633 | -18,095 | 12,921 | 27,281 | 10,388 | -37,122 | -2,740 | -306 | -481 | -468 | 402 | - | -1,689 | -3,384 | -17,990 | 64,723 | |
60/61 |
- | 351,658 | 300,380 | 187,721 | 59,095 | 75,000 | 165,483 | 128,433 | 110,251 | 37,125 | 2,740 | 306 | 481 | 468 | 1,086 | - | 1,735 | 29,885 | 153,980 | 507,863 | |
62 |
100,037 | 69,208 | 58,789 | 40,811 | 7,663 | 5,479 | 15,581 | 12,516 | - | - | - | - | - | - | - | - | - | 180 | 8,344 | 27,521 | |
630 |
19,604 | 14,924 | 9,779 | 8,210 | 10,170 | 12,223 | 12,044 | 10,301 | 7,853 | 4,808 | - | - | - | - | 743 | 1,585 | 9,256 | 19,158 | 19,344 | 23,714 | |
640/8 |
3,560 | 9,610 | 7,648 | 12,889 | 3,545 | 636 | 900 | 3,123 | - | - | 223 | 89 | 89 | 89 | 196 | 89 | 89 | 804 | 1,852 | 330 | |
66A |
- | - | - | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | 0 | - | |
9901 |
57,682 | 4,353 | 63,241 | 59,562 | 15,256 | -36,434 | -15,604 | 1,341 | 2,535 | -41,931 | -2,962 | -395 | -570 | -557 | -537 | -1,674 | -11,034 | -23,526 | -47,531 | 13,159 | |
75/76B |
- | - | - | - | - | - | - | - | - | - | - | - | 5 | 0 | - | 8 | 56 | 224 | 104 | 230 | |
75 |
- | - | - | - | - | - | - | - | - | - | - | - | 5 | 0 | - | 8 | 56 | 224 | 104 | 230 | |
65/66B |
3,465 | 330 | 235 | 217 | 224 | 213 | 218 | 189 | 173 | 98 | 98 | 107 | 114 | - | 232 | 7 | 242 | 502 | 2,707 | 2,368 | |
65 |
3,465 | 330 | 235 | 217 | 224 | 213 | 218 | 189 | 173 | 98 | 98 | 107 | 114 | - | 232 | 7 | 242 | 502 | 2,707 | 2,368 | |
9903 |
54,218 | 4,023 | 63,007 | 59,344 | 15,032 | -36,647 | -15,822 | 1,152 | 2,362 | -42,029 | -3,061 | -503 | -679 | -557 | -768 | 10,851 | -10,853 | -18,821 | -50,123 | 11,495 | |
67/77 |
17,914 | -13,146 | 13,272 | 3,136 | 140 | 25 | 849 | - | - | - | - | - | - | - | - | - | -7 | 479 | 204 | 6,948 | |
9904 |
36,304 | 17,169 | 49,734 | 56,209 | 14,892 | -36,673 | -16,671 | 1,152 | 2,362 | -42,029 | -3,061 | -503 | -679 | -557 | -768 | 10,851 | -10,846 | -19,300 | -50,327 | 4,548 | |
9905 |
36,304 | 17,169 | 49,734 | 56,209 | 14,892 | -36,673 | -16,671 | 1,152 | 2,362 | -42,029 | -3,061 | -503 | -679 | -557 | -768 | 10,851 | -10,846 | -19,300 | -50,327 | 4,548 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
16,313 | -19,991 | -37,160 | -86,895 | -143,103 | -157,995 | -121,323 | -104,651 | -105,804 | -108,166 | -66,137 | -63,076 | -62,574 | -61,894 | -61,337 | -60,569 | -71,420 | -60,574 | -41,274 | 9,281 | |
14P |
-19,991 | -37,160 | -86,895 | -143,103 | -157,995 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
16,313 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 228 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 228 | |
6921 |
16,313 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
2 | 2 | 1.3 | 1.1 | 1 | - | 0.8 | 0.8 | - | - | - | - | - | - | - | - | - | - | 0.2 | 1 | |
Hours worked1013 |
3,369 | 2,751 | 2,388 | 1,887 | 337 | - | 252 | 726 | - | - | - | - | - | - | - | - | - | - | 319 | 1,763 | |
| Document | |||||||||||||||||||||
The accounts for 2 older financial years (2004-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00475183.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-08-2026 | 2026-00475183 | |
| 31-12-2024 | micro format | 25-07-2025 | 2025-00318904 | |
| 31-12-2023 | micro format | 29-07-2024 | 2024-00298095 | |
| 31-12-2022 | micro format | 26-07-2023 | 2023-00270943 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20333064 | |
| 31-12-2020 | micro format | 20-09-2021 | 2021-67600579 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-65800504 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-54500337 | |
| 31-12-2017 | micro format | 21-09-2018 | 2018-64000187 | |
| 31-12-2016 | micro format | 29-09-2017 | 2017-64800002 | |
| 31-12-2015 | full format | 16-08-2016 | 2016-43000283 | |
| 31-12-2014 | full format | 27-08-2015 | 2015-49400459 | |
| 31-12-2013 | full format | 22-08-2014 | 2014-45700081 | |
| 31-12-2012 | full format | 27-08-2013 | 2013-48200379 | |
| 31-12-2011 | full format | 27-07-2012 | 2012-35900370 | |
| 31-12-2010 | full format | 30-08-2011 | 2011-49000509 | |
| 31-12-2009 | full format | 03-08-2010 | 2010-38400072 | |
| 31-12-2008 | full format | 27-07-2009 | 2009-52000077 | |
| 31-12-2007 | full format | 07-07-2008 | 2008-37200080 | |
| 31-12-2006 | full format | 07-04-2008 | 2008-10100057 | |
| 31-12-2005 | full format | 19-07-2006 | 2006-49503144 | |
| 31-12-2004 | full format | 05-07-2005 | 2005-42101489 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 77,286 | 19,277 | 73,020 | 67,771 | 25,426 | -24,211 | -3,560 | 11,642 | 10,388 | -37,122 | - | - | - | - | 206 | -89 | -1,778 | -4,368 | -28,186 | 36,872 | ||
| 55,908 | 32,094 | 59,513 | 64,418 | 25,062 | -24,450 | -4,628 | 11,453 | 10,215 | -37,220 | - | - | - | - | -26 | 12,436 | -1,590 | -142 | -30,983 | 28,261 | ||
| 16,511 | 12,081 | 40,554 | 4,756 | 4,927 | 4,294 | 7,337 | 12,582 | 14,249 | 33,806 | - | - | - | - | 0 | 0 | -347 | -553 | 2,495 | 18,178 | ||
| 22,636 | -3,498 | 13,721 | 73,788 | 6,050 | -3,307 | -6,171 | -1,761 | 11,345 | 1,845 | -434 | 797 | 9 | 424 | 121 | 17 | -3,059 | -12,609 | 13,886 | - | ||
| 37,480 | -2,761 | -22,775 | -41,733 | -101,395 | -121,530 | -92,787 | -80,822 | -79,693 | -75,659 | -3,659 | -1,548 | -1,045 | -366 | 191 | 217 | -12,219 | -10,975 | 98 | 48,395 | ||
| - | 1.0% | 14.4% | 19.3% | 17.5% | -94.4% | -8.8% | 0.9% | 2.1% | - | - | - | - | - | -36.1% | - | - | -88.8% | -35.0% | 2.3% | ||
| 42.7% | 29.9% | 17.2% | -24.2% | -257.5% | -320.6% | -142.7% | -82.2% | -85.7% | -112.7% | - | - | - | - | - | - | - | 9.3% | 23.8% | 29.8% | ||
| 1.36 | 0.97 | 0.81 | 0.67 | 0.09 | 0.03 | 0.07 | 0.14 | 0.15 | 0.12 | - | - | - | - | - | - | - | 0.41 | 1.00 | 1.34 | ||
| 1.32 | 0.94 | 0.79 | 0.67 | 0.09 | 0.03 | 0.07 | 0.14 | 0.15 | 0.12 | - | - | - | - | - | - | - | 0.41 | 1.00 | 1.34 | ||
| 1.34 | 2.34 | 4.82 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 9.80 | 3.21 | 2.36 | ||
| 46.1% | 40.4% | 196.4% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | -237.3% | 6.4% | ||
| 19.7% | 12.1% | 33.7% | 55.7% | 47.6% | -123.1% | -40.4% | 2.2% | 4.7% | -103.6% | - | - | - | - | - | - | - | -93.8% | -56.4% | 1.9% | ||
| 22.31 | 58.50 | over 100 | over 100 | over 100 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | 0 days | 0 days | 1 day | 4 days | 8 days | 2 days | 1 day | 0 days | - | - | - | - | - | 106 days | - | 3459 days | 60 days | 37 days | 121 days | ||
| - | 53 days | 52 days | 137 days | 304 days | 228 days | 77 days | 55 days | 74 days | 160 days | 161 days | 900 days | 573 days | 312 days | - | - | 1874 days | 173 days | 124 days | 89 days |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 3 | 2 | 1 |
| full-time | 1 | 1 | 1 | 1 | - |
| part-time | 2 | 2 | 2 | 1 | 1 |
| in full-time equivalents | 1.6 | 1.6 | 1.6 | 1.3 | 0.4 |
| 1.9 | 1.6 | 1.3 | 1.1 | 0.4 | |
| On a permanent contract | 1 | 1 | 1 | 2 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,511 | €12,081 | €40,554 | €4,756 | €4,927 |
| Intangible fixed assets | €12,000 | - | - | - | - |
| €19,604 | €14,924 | €9,779 | €8,210 | €10,170 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on 2B HEDO
The operating result for 2025 is over 13 times that of 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 70.1% to 57.3%. Equity and debt are higher.