HBEM: 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.
HBEM
Largest movements
- Deferred charges and accrued income -€22,780
down €22,780 (-96.6%), from €23,593 to €813
- Cash +€20,550
up €20,550 (+530.3%), from €3,875 to €24,425
mainly Net result for the year (+€30,650) and Deferred charges and accrued income (+€22,780)
- Tangible fixed assets +€11,202
up €11,202 (+69.0%), from €16,240 to €27,442
of which Furniture and vehicles: +€13,863
- Financial fixed assets +€5,701
new in 2025: €5,701
- Receivables within one year -€5,498
down €5,498 (-57.9%), from €9,493 to €3,995
of which Trade receivables: -€4,408
- Profit (loss) carried forward +€25,408
no longer reported in 2025 (was -€25,408)
- Trade debts -€21,175
down €21,175 (-84.6%), from €25,041 to €3,866
- Debts after one year -€6,382
down €6,382 (-37.0%), from €17,231 to €10,849
- Reserves +€5,243
new in 2025: €5,243
- Other debts +€4,370
up €4,370 (+14.7%), from €29,797 to €34,167
- Gross operating margin +€75,666
up €75,666, from -€20,958 to €54,708
- Staff costs +€8,581
new in 2025: €8,581
- Other operating charges +€5,215
up €5,215 (+356.0%), from €1,465 to €6,680
- Depreciation +€2,952
up €2,952 (+147.3%), from €2,005 to €4,957
- Taxes +€2,226
new in 2025: €2,226
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 | €58,451 | €64,756 | +€6,305 | +10.8% |
| Fixed assets | 21/28 | €16,240 | €33,143 | +€16,903 | +104.1% |
| Tangible fixed assets | 22/27 | €16,240 | €27,442 | +€11,202 | +69.0% |
| Plant, machinery and equipment | 23 | €13,532 | €10,871 | -€2,661 | -19.7% |
| Furniture and vehicles | 24 | €2,708 | €16,571 | +€13,863 | +511.9% |
| Financial fixed assets | 28 | - | €5,701 | +€5,701 | |
| Current assets | 29/58 | €42,211 | €31,613 | -€10,599 | -25.1% |
| Amounts receivable after more than one year | 29 | €5,250 | - | -€5,250 | |
| Trade receivables | 290 | €5,250 | - | -€5,250 | |
| Stocks and contracts in progress | 3 | - | €2,379 | +€2,379 | |
| Stocks | 30/36 | - | €2,379 | +€2,379 | |
| Amounts receivable within one year | 40/41 | €9,493 | €3,995 | -€5,498 | -57.9% |
| Trade receivables | 40 | €8,024 | €3,616 | -€4,408 | -54.9% |
| Other amounts receivable | 41 | €1,469 | €379 | -€1,090 | -74.2% |
| Cash at bank and in hand | 54/58 | €3,875 | €24,425 | +€20,550 | +530.3% |
| Deferred charges and accrued income | 490/1 | €23,593 | €813 | -€22,780 | -96.6% |
| Total equity and liabilities | 10/49 | €58,451 | €64,756 | +€6,305 | +10.8% |
| Equity | 10/15 | -€21,908 | €8,743 | +€30,650 | |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | - | €5,243 | +€5,243 | |
| Distributable reserves | 133 | - | €5,243 | +€5,243 | |
| Profit (loss) carried forward | 14 | -€25,408 | - | +€25,408 | |
| Amounts payable | 17/49 | €80,359 | €56,013 | -€24,346 | -30.3% |
| Amounts payable after more than one year | 17 | €17,231 | €10,849 | -€6,382 | -37.0% |
| Financial debts | 170/4 | €17,231 | €10,849 | -€6,382 | -37.0% |
| Amounts payable within one year | 42/48 | €63,128 | €45,164 | -€17,964 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | €5,043 | €3,811 | -€1,233 | -24.4% |
| Trade debts | 44 | €25,041 | €3,866 | -€21,175 | -84.6% |
| Suppliers | 440/4 | €25,041 | €3,866 | -€21,175 | -84.6% |
| Taxes, remuneration and social security | 45 | €3,247 | €3,320 | +€73 | +2.2% |
| Taxes | 450/3 | €3,247 | €2,266 | -€981 | -30.2% |
| Remuneration and social security | 454/9 | - | €1,054 | +€1,054 | |
| Other amounts payable | 47/48 | €29,797 | €34,167 | +€4,370 | +14.7% |
| Remuneration, social security and pensions | 62 | - | €8,581 | +€8,581 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,005 | €4,957 | +€2,952 | +147.3% |
| Other operating charges | 640/8 | €1,465 | €6,680 | +€5,215 | +356.0% |
| Gross operating margin | 9900 | -€20,958 | €54,708 | +€75,666 | |
| Operating profit (loss) | 9901 | -€24,428 | €34,490 | +€58,918 | |
| Financial income | 75/76B | €271 | €0 | -€271 | -99.9% |
| Recurring financial income | 75 | €271 | €0 | -€271 | -99.9% |
| Financial charges | 65/66B | €1,251 | €1,614 | +€363 | +29.0% |
| Recurring financial charges | 65 | €1,251 | €1,614 | +€363 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,408 | €32,877 | +€58,284 | |
| Income taxes | 67/77 | - | €2,226 | +€2,226 | |
| Profit (loss) for the period | 9904 | -€25,408 | €30,650 | +€56,058 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,408 | €30,650 | +€56,058 |
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 3 October 2026 via checked.be.