HEBUSA
InactiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-03-2026 PDF all 28 filings
Turnover
≈ €160,000
Estimated: probably between €71,000 and €370,000
Total assets
€92,914▲ 10.1%
2024 · €84,427
Net result
€2,308▼ 74.9%
2024 · €9,201
Working capital
€37,364▲ 76.2%
2024 · €21,202
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€4,983
▼ 64.9%
2025
20182025
Net result
€2,308
▼ 74.9%
2025
20182025
Equity
€84,737
▲ 2.8%
2025
20182025
Total assets
€92,914
▲ 10.1%
2025
20182025
Debt
€8,177
▲ 309%
2025
20182025
Working capital
€37,364
▲ 76.2%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€25,461-€26,407▲ 3.7%€28,155▲ 6.6%€24,227▼ 14.0%€23,571▼ 2.7%€28,332▲ 20.2%€14,217▼ 49.8%€4,983▼ 64.9%
Net result€15,725-€16,661▲ 6.0%€19,597▲ 17.6%€17,361▼ 11.4%€18,044▲ 3.9%€20,158▲ 11.7%€9,201▼ 54.4%€2,308▼ 74.9%
Equity-€18,592--€1,931▲ 89.6%€17,666€35,027▲ 98.3%€53,071▲ 51.5%€73,228▲ 38.0%€82,429▲ 12.6%€84,737▲ 2.8%
Total assets€56,343-€72,553▲ 28.8%€92,188▲ 27.1%€40,313▼ 56.3%€59,411▲ 47.4%€75,629▲ 27.3%€84,427▲ 11.6%€92,914▲ 10.1%
Debt€74,935-€74,484▼ 0.6%€74,522▲ 0.1%€5,286▼ 92.9%€6,341▲ 19.9%€2,400▼ 62.1%€1,998▼ 16.8%€8,177▲ 309%
Working capital€52,639-€69,300▲ 31.7%€20,335▼ 70.7%€35,027▲ 72.2%€53,071▲ 51.5%€68,160▲ 28.4%€21,202▼ 68.9%€37,364▲ 76.2%
The operating result for 2025 is 65% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €92,914
Fixed assets
€47,372 ▼ 22.6%
Current assets
€45,541 ▲ 96.3%
Equity and liabilities €92,914
Equity
€84,737 ▲ 2.8%
Debt
€8,177 ▲ 309%
Debt's share of the balance-sheet total rises from 2.4% to 8.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€18,838▼
2024 · €22,053
Cash flow
€16,163▼
2024 · €17,037
Current ratio
5.57▼
2024 · 11.61
Debt to equity
0.10▲
2024 · 0.02
ROE
2.7%▼
2024 · 11.2%
ROA
2.5%▼
2024 · 10.9%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€8,177▲
2024 · €1,998
Income taxes
€2,542▼
2024 · €4,891
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €5,280 | €63,995 | - |
| Depreciation and write-downs of the year | - | - | €211 | €7,837 | €13,855 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,081 | €0 | €0 | - | - | €211 | €7,837 | €13,855 | ▲ 76.8% |
| Other operating charges640/8 | - | - | - | €1,086 | €954 | €1,480 | €1,058 | €1,528 | ▲ 44.4% |
| Gross operating margin9900 | €31,557 | €27,414 | €29,209 | €25,313 | €24,524 | €30,024 | €23,111 | €20,366 | ▼ 11.9% |
| Operating profit (loss)9901 | €25,461 | €26,407 | €28,155 | €24,227 | €23,571 | €28,332 | €14,217 | €4,983 | ▼ 64.9% |
| Financial income75/76B | - | - | - | - | - | €0 | €1 | €0 | ▼ 93.3% |
| Recurring financial income75 | €7 | €13 | €0 | - | - | €0 | €1 | €0 | ▼ 93.3% |
| Financial charges65/66B | - | - | - | €1,455 | €145 | €120 | €126 | €134 | ▲ 6.7% |
| Recurring financial charges65 | €4,546 | €4,649 | €2,806 | €1,455 | €145 | €120 | €126 | €134 | ▲ 6.7% |
| Profit (loss) for the period before taxes9903 | €20,921 | €21,771 | €25,350 | €22,773 | €23,426 | €28,213 | €14,092 | €4,849 | ▼ 65.6% |
| Income taxes67/77 | €5,196 | €5,109 | €5,753 | €5,412 | €5,382 | €8,055 | €4,891 | €2,542 | ▼ 48.0% |
| Profit (loss) for the period9904 | €15,725 | €16,661 | €19,597 | €17,361 | €18,044 | €20,158 | €9,201 | €2,308 | ▼ 74.9% |
| Profit (loss) for the period to be appropriated9905 | €15,725 | €16,661 | €19,597 | €17,361 | €18,044 | €20,158 | €9,201 | €2,308 | ▼ 74.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €56,343 | €72,553 | €92,188 | €40,313 | €59,411 | €75,629 | €84,427 | €92,914 | ▲ 10.1% |
| Fixed assets21/28 | €0 | - | - | - | - | €5,069 | €61,227 | €47,372 | ▼ 22.6% |
| Tangible fixed assets22/27 | €0 | - | - | - | - | €5,069 | €61,227 | €47,372 | ▼ 22.6% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €4,488 | €3,518 | ▼ 21.6% |
| Furniture and vehicles24 | - | - | - | - | - | €5,069 | €56,739 | €43,855 | ▼ 22.7% |
| Current assets29/58 | €56,343 | €72,553 | €92,188 | €40,313 | €59,411 | €70,560 | €23,200 | €45,541 | ▲ 96.3% |
| Amounts receivable within one year40/41 | €8,598 | €8,610 | €8,899 | €9,196 | €16,610 | €15,106 | €7,369 | €10,025 | ▲ 36.0% |
| Trade receivables40 | - | - | - | €9,090 | €16,456 | €9,556 | €3,603 | €9,046 | ▲ 151% |
| Other amounts receivable41 | - | - | - | €106 | €154 | €5,550 | €3,766 | €978 | ▼ 74.0% |
| Cash at bank and in hand54/58 | €47,291 | €63,480 | €82,944 | €30,307 | €41,910 | €54,537 | €14,418 | €35,517 | ▲ 146% |
| Deferred charges and accrued income490/1 | - | - | - | €810 | €891 | €917 | €1,412 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €56,343 | €72,553 | €92,188 | €40,313 | €59,411 | €75,629 | €84,427 | €92,914 | ▲ 10.1% |
| Equity10/15 | -€18,592 | -€1,931 | €17,666 | €35,027 | €53,071 | €73,228 | €82,429 | €84,737 | ▲ 2.8% |
| Contributions10/11 | €69,410 | €69,410 | - | €69,410 | €69,410 | €69,410 | €69,410 | €69,410 | = |
| Reserves13 | €76 | €76 | €76 | €76 | €76 | €3,000 | €12,000 | €12,000 | = |
| Non-distributable reserves130/1 | - | - | - | €76 | €76 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €76 | €76 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €3,000 | €12,000 | €12,000 | = |
| Profit (loss) carried forward14 | -€88,078 | -€71,417 | -€51,820 | -€34,460 | -€16,415 | €818 | €1,019 | €3,326 | ▲ 226% |
| Amounts payable17/49 | €74,935 | €74,484 | €74,522 | €5,286 | €6,341 | €2,400 | €1,998 | €8,177 | ▲ 309% |
| Amounts payable after more than one year17 | €66,727 | €66,727 | €0 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €3,704 | €3,253 | €71,853 | €5,286 | €6,341 | €2,400 | €1,998 | €8,177 | ▲ 309% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0 | - | - | - | - | - |
| Trade debts44 | €1,904 | €1,483 | €480 | €1,507 | €2,062 | €1,600 | €812 | €7,369 | ▲ 808% |
| Suppliers440/4 | - | - | - | €1,507 | €2,062 | €1,600 | €812 | €7,369 | ▲ 808% |
| Taxes, remuneration and social security45 | - | - | - | €3,779 | €1,643 | €0 | - | - | - |
| Taxes450/3 | - | - | - | €1,574 | €1,643 | €0 | - | - | - |
| Remuneration and social security454/9 | - | - | - | €2,205 | €0 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0 | €2,635 | €800 | €1,186 | €808 | ▼ 31.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,725 | €16,661 | €19,597 | €17,361 | €18,044 | €20,158 | €9,201 | €2,308 | ▼ 74.9% |
| + Depreciation and write-downs630 | €5,081 | €0 | €0 | - | - | €211 | €7,837 | €13,855 | ▲ 76.8% |
| Operating cash flow (approximation) | €20,807 | €16,661 | €19,597 | €17,361 | €18,044 | €20,369 | €17,037 | €16,163 | ▼ 5.1% |
| Investment in fixed assets (approximation) | - | - | - | - | - | - | -€63,995 | €0 | - |
| Change in cash | - | €16,189 | €19,464 | -€52,636 | €11,603 | €12,627 | -€40,118 | €21,098 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-03-2026 | 2026-00060540 | |
| 31-12-2024 | micro format | 10-06-2025 | 2025-00128400 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00177448 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00162161 | |
| 31-12-2021 | micro format | 28-07-2022 | 2022-20235657 | |
| 31-12-2020 | micro format | 21-06-2021 | 2021-22500134 | |
| 31-12-2019 | micro format | 03-07-2020 | 2020-26000027 | |
| 31-12-2018 | micro format | 06-06-2019 | 2019-16100315 | |
| 31-12-2017 | micro format | 06-07-2018 | 2018-29000591 | |
| 31-12-2016 | micro format | 20-06-2017 | 2017-19400518 |