hebaco: what changed
Two financial 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.
hebaco
Largest movements
- Cash +€664,804
up €664,804 (+65.4%), from €1.0m to €1.7m
mainly Net result for the year (+€1.5m) and Tax, wage and social debts (+€136,323)
- Receivables within one year +€447,197
up €447,197 (+62.3%), from €717,787 to €1.2m
of which Trade receivables: +€480,873
- Tangible fixed assets +€144,166
up €144,166 (+62.7%), from €229,907 to €374,073
of which Furniture and vehicles: +€159,348
- Stocks and contracts +€46,145
up €46,145 (+4.1%), from €1.1m to €1.2m
- Reserves +€1.5m
up €1.5m (+64.4%), from €2.4m to €3.9m
of which Tax-exempt reserves: +€842,000
- Other debts -€391,456
down €391,456 (-96.6%), from €405,031 to €13,575
- Tax, wage and social debts +€136,323
up €136,323 (+183%), from €74,427 to €210,750
of which Taxes: +€132,872
- Trade debts +€46,183
up €46,183 (+19.4%), from €238,569 to €284,752
- Gross operating margin +€916,331
up €916,331 (+67.0%), from €1.4m to €2.3m
- Taxes +€272,335
up €272,335 (+84.7%), from €321,467 to €593,802
- Depreciation +€47,616
up €47,616 (+99.6%), from €47,814 to €95,430
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.
Derived cash bridge
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 | €3,121,757 | €4,431,272 | +€1.3m | +41.9% |
| Fixed assets | 21/28 | €231,570 | €375,871 | +€144,301 | +62.3% |
| Tangible fixed assets | 22/27 | €229,907 | €374,073 | +€144,166 | +62.7% |
| Land and buildings | 22 | €32,406 | €40,921 | +€8,515 | +26.3% |
| Plant, machinery and equipment | 23 | €94,661 | €70,964 | -€23,697 | -25.0% |
| Furniture and vehicles | 24 | €102,840 | €262,187 | +€159,348 | +155% |
| Financial fixed assets | 28 | €1,663 | €1,798 | +€135 | +8.1% |
| Current assets | 29/58 | €2,890,187 | €4,055,401 | +€1.2m | +40.3% |
| Stocks and contracts in progress | 3 | €1,134,254 | €1,180,399 | +€46,145 | +4.1% |
| Stocks | 30/36 | €1,134,254 | €1,180,399 | +€46,145 | +4.1% |
| Amounts receivable within one year | 40/41 | €717,787 | €1,164,984 | +€447,197 | +62.3% |
| Trade receivables | 40 | €681,272 | €1,162,146 | +€480,873 | +70.6% |
| Other amounts receivable | 41 | €36,515 | €2,839 | -€33,676 | -92.2% |
| Cash at bank and in hand | 54/58 | €1,016,862 | €1,681,666 | +€664,804 | +65.4% |
| Deferred charges and accrued income | 490/1 | €21,284 | €28,351 | +€7,067 | +33.2% |
| Total equity and liabilities | 10/49 | €3,121,757 | €4,431,272 | +€1.3m | +41.9% |
| Equity | 10/15 | €2,390,657 | €3,903,706 | +€1.5m | +63.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,362,628 | €3,883,628 | +€1.5m | +64.4% |
| Tax-exempt reserves | 132 | €829,450 | €1,671,450 | +€842,000 | +102% |
| Distributable reserves | 133 | €1,533,178 | €2,212,178 | +€679,000 | +44.3% |
| Profit (loss) carried forward | 14 | €8,029 | €78 | -€7,951 | -99.0% |
| Amounts payable | 17/49 | €731,100 | €527,566 | -€203,534 | -27.8% |
| Amounts payable within one year | 42/48 | €724,223 | €518,159 | -€206,064 | -28.5% |
| Trade debts | 44 | €238,569 | €284,752 | +€46,183 | +19.4% |
| Suppliers | 440/4 | €238,569 | €284,752 | +€46,183 | +19.4% |
| Advances received on contracts in progress | 46 | €6,196 | €9,082 | +€2,886 | +46.6% |
| Taxes, remuneration and social security | 45 | €74,427 | €210,750 | +€136,323 | +183% |
| Taxes | 450/3 | €65,275 | €198,147 | +€132,872 | +204% |
| Remuneration and social security | 454/9 | €9,152 | €12,602 | +€3,451 | +37.7% |
| Other amounts payable | 47/48 | €405,031 | €13,575 | -€391,456 | -96.6% |
| Accrued charges and deferred income | 492/3 | €6,876 | €9,407 | +€2,530 | +36.8% |
| Remuneration, social security and pensions | 62 | €45,627 | €65,407 | +€19,780 | +43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,814 | €95,430 | +€47,616 | +99.6% |
| Other operating charges | 640/8 | €12,597 | €30,915 | +€18,318 | +145% |
| Gross operating margin | 9900 | €1,367,418 | €2,283,750 | +€916,331 | +67.0% |
| Operating profit (loss) | 9901 | €1,261,381 | €2,091,998 | +€830,617 | +65.8% |
| Financial income | 75/76B | €54 | €16,173 | +€16,119 | +30,046% |
| Recurring financial income | 75 | €54 | €16,173 | +€16,119 | +30,046% |
| Financial charges | 65/66B | €463 | €1,320 | +€857 | +185% |
| Recurring financial charges | 65 | €463 | €1,320 | +€857 | +185% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €1,260,971 | €2,106,851 | +€845,879 | +67.1% |
| Income taxes | 67/77 | €321,467 | €593,802 | +€272,335 | +84.7% |
| Profit (loss) for the period | 9904 | €939,504 | €1,513,049 | +€573,545 | +61.0% |
| Transfer from tax-exempt reserves | 789 | €249,200 | €0 | -€249,200 | -100% |
| Transfer to tax-exempt reserves | 689 | €0 | €842,000 | +€842,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,188,704 | €671,049 | -€517,655 | -43.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.