H.E.T.: what changed
Two fiscal 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.
H.E.T.
Largest movements
- Tangible fixed assets +€28,208
up €28,208 (+623.4%), from €4,525 to €32,733
- Cash -€6,395
down €6,395 (-7.2%), from €88,350 to €81,955
mainly Contributions, distributions and other (-€42,713) and Investment in fixed assets (net) (-€38,707)
- Receivables within one year -€5,580
down €5,580 (-13.9%), from €40,230 to €34,651
of which Other amounts receivable: -€4,477
- Other debts +€37,609
up €37,609 (+649.0%), from €5,795 to €43,404
- Reserves -€19,788
down €19,788 (-18.8%), from €105,473 to €85,685
- Gross operating margin +€16,312
up €16,312 (+57.1%), from €28,576 to €44,888
- Depreciation +€9,937
up €9,937 (+1769.7%), from €561 to €10,498
- Taxes +€1,668
up €1,668 (+15.5%), from €10,755 to €12,424
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.
Cash bridge derived
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 | €133,155 | €149,859 | +€16,704 | +12.5% |
| Fixed assets | 21/28 | €4,575 | €32,783 | +€28,208 | +616.6% |
| Tangible fixed assets | 22/27 | €4,525 | €32,733 | +€28,208 | +623.4% |
| Other tangible fixed assets | 26 | €4,525 | €32,733 | +€28,208 | +623.4% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €128,580 | €117,076 | -€11,505 | -8.9% |
| Amounts receivable within one year | 40/41 | €40,230 | €34,651 | -€5,580 | -13.9% |
| Trade receivables | 40 | €15,183 | €14,080 | -€1,103 | -7.3% |
| Other amounts receivable | 41 | €25,047 | €20,570 | -€4,477 | -17.9% |
| Cash at bank and in hand | 54/58 | €88,350 | €81,955 | -€6,395 | -7.2% |
| Deferred charges and accrued income | 490/1 | - | €471 | +€471 | |
| Total equity and liabilities | 10/49 | €133,155 | €149,859 | +€16,704 | +12.5% |
| Equity | 10/15 | €120,401 | €100,613 | -€19,788 | -16.4% |
| Contributions | 10/11 | €14,874 | €14,874 | = | 0.0% |
| Reserves | 13 | €105,473 | €85,685 | -€19,788 | -18.8% |
| Distributable reserves | 133 | €105,473 | €85,685 | -€19,788 | -18.8% |
| Profit (loss) carried forward | 14 | €54 | €55 | +€1 | +1.0% |
| Amounts payable | 17/49 | €12,754 | €49,245 | +€36,492 | +286.1% |
| Amounts payable within one year | 42/48 | €12,754 | €49,245 | +€36,492 | +286.1% |
| Trade debts | 44 | €3,036 | €1,841 | -€1,195 | -39.4% |
| Suppliers | 440/4 | €3,036 | €1,841 | -€1,195 | -39.4% |
| Taxes, remuneration and social security | 45 | €3,922 | €4,000 | +€78 | +2.0% |
| Taxes | 450/3 | €3,922 | €4,000 | +€78 | +2.0% |
| Other amounts payable | 47/48 | €5,795 | €43,404 | +€37,609 | +649.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €561 | €10,498 | +€9,937 | +1769.7% |
| Other operating charges | 640/8 | €491 | €465 | -€26 | -5.2% |
| Gross operating margin | 9900 | €28,576 | €44,888 | +€16,312 | +57.1% |
| Operating profit (loss) | 9901 | €27,523 | €33,924 | +€6,401 | +23.3% |
| Financial income | 75/76B | €1,859 | €1,735 | -€124 | -6.7% |
| Recurring financial income | 75 | €1,859 | €1,735 | -€124 | -6.7% |
| Financial charges | 65/66B | €185 | €310 | +€125 | +67.5% |
| Recurring financial charges | 65 | €185 | €310 | +€125 | +67.5% |
| Profit (loss) for the period before taxes | 9903 | €29,197 | €35,349 | +€6,152 | +21.1% |
| Income taxes | 67/77 | €10,755 | €12,424 | +€1,668 | +15.5% |
| Profit (loss) for the period | 9904 | €18,442 | €22,926 | +€4,484 | +24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,442 | €22,926 | +€4,484 | +24.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.