Heb Immo: 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.
Heb Immo
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+117.8%), from €1.5m to €3.3m
- Debts after one year +€1.3m
up €1.3m (+137.1%), from €924,758 to €2.2m
- Other debts +€640,000
new in 2025: €640,000
- Profit (loss) carried forward -€125,962
down €125,962 (-96.4%), from -€130,672 to -€256,634
- Trade debts -€51,900
down €51,900 (-85.3%), from €60,867 to €8,967
- Current portion of long-term debt +€48,193
up €48,193 (+171.3%), from €28,130 to €76,322
- Depreciation +€80,289
up €80,289 (+157.4%), from €51,020 to €131,309
- Financial charges +€27,020
up €27,020 (+70.2%), from €38,511 to €65,530
- Gross operating margin +€17,284
up €17,284 (+29.4%), from €58,726 to €76,010
- Other operating charges +€3,849
up €3,849 (+299.7%), from €1,284 to €5,133
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 | €1,514,582 | €3,306,643 | +€1.8m | +118.3% |
| Fixed assets | 21/28 | €1,504,608 | €3,277,299 | +€1.8m | +117.8% |
| Tangible fixed assets | 22/27 | €1,504,608 | €3,277,299 | +€1.8m | +117.8% |
| Land and buildings | 22 | €1,504,608 | €3,277,299 | +€1.8m | +117.8% |
| Current assets | 29/58 | €9,975 | €29,344 | +€19,369 | +194.2% |
| Amounts receivable within one year | 40/41 | €1,812 | €0 | -€1,812 | -100.0% |
| Trade receivables | 40 | €1,812 | €0 | -€1,812 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,184 | €28,335 | +€21,150 | +294.4% |
| Deferred charges and accrued income | 490/1 | €978 | €1,009 | +€31 | +3.1% |
| Total equity and liabilities | 10/49 | €1,514,582 | €3,306,643 | +€1.8m | +118.3% |
| Equity | 10/15 | €500,828 | €374,866 | -€125,962 | -25.2% |
| Contributions | 10/11 | €631,500 | €631,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€130,672 | -€256,634 | -€125,962 | -96.4% |
| Amounts payable | 17/49 | €1,013,754 | €2,931,777 | +€1.9m | +189.2% |
| Amounts payable after more than one year | 17 | €924,758 | €2,192,946 | +€1.3m | +137.1% |
| Financial debts | 170/4 | €924,758 | €2,192,946 | +€1.3m | +137.1% |
| Amounts payable within one year | 42/48 | €88,996 | €725,289 | +€636,293 | +715.0% |
| Current portion of amounts payable after more than one year | 42 | €28,130 | €76,322 | +€48,193 | +171.3% |
| Trade debts | 44 | €60,867 | €8,967 | -€51,900 | -85.3% |
| Suppliers | 440/4 | €60,867 | €8,967 | -€51,900 | -85.3% |
| Other amounts payable | 47/48 | - | €640,000 | +€640,000 | |
| Accrued charges and deferred income | 492/3 | - | €13,541 | +€13,541 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,020 | €131,309 | +€80,289 | +157.4% |
| Other operating charges | 640/8 | €1,284 | €5,133 | +€3,849 | +299.7% |
| Gross operating margin | 9900 | €58,726 | €76,010 | +€17,284 | +29.4% |
| Operating profit (loss) | 9901 | €6,422 | -€60,432 | -€66,853 | |
| Financial charges | 65/66B | €38,511 | €65,530 | +€27,020 | +70.2% |
| Recurring financial charges | 65 | €38,511 | €65,530 | +€27,020 | +70.2% |
| Profit (loss) for the period before taxes | 9903 | -€32,089 | -€125,962 | -€93,873 | -292.5% |
| Profit (loss) for the period | 9904 | -€32,089 | -€125,962 | -€93,873 | -292.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,089 | -€125,962 | -€93,873 | -292.5% |
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 4 October 2026 via checked.be.