HEBBEN & DE ROUCK: 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.
HEBBEN & DE ROUCK
Largest movements
- Intangible fixed assets -€59,300
down €59,300 (-11.1%), from €533,700 to €474,400
- Tangible fixed assets -€46,900
down €46,900 (-25.0%), from €187,600 to €140,700
of which Other tangible fixed assets: -€35,600
- Receivables within one year -€22,676
down €22,676 (-26.9%), from €84,293 to €61,617
of which Other amounts receivable: -€18,662
- Cash -€22,012
down €22,012 (-15.1%), from €145,566 to €123,555
mainly Other debts (-€314,826) and Accrued charges and deferred income (-€25,405)
- Other debts -€314,826
down €314,826 (-38.0%), from €828,140 to €513,314
- Reserves +€153,305
up €153,305 (+289%), from €52,977 to €206,282
- Trade debts +€43,115
up €43,115 (+292%), from €14,772 to €57,887
- Accrued charges and deferred income -€25,405
down €25,405 (-91.9%), from €27,655 to €2,250
- Gross operating margin +€131,798
up €131,798 (+41.0%), from €321,236 to €453,034
- Taxes +€38,041
up €38,041 (+275%), from €13,827 to €51,868
- Financial charges -€6,285
down €6,285 (-23.8%), from €26,373 to €20,089
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 | €951,159 | €801,318 | -€149,841 | -15.8% |
| Fixed assets | 21/28 | €721,300 | €615,100 | -€106,200 | -14.7% |
| Intangible fixed assets | 21 | €533,700 | €474,400 | -€59,300 | -11.1% |
| Tangible fixed assets | 22/27 | €187,600 | €140,700 | -€46,900 | -25.0% |
| Plant, machinery and equipment | 23 | €45,200 | €33,900 | -€11,300 | -25.0% |
| Other tangible fixed assets | 26 | €142,400 | €106,800 | -€35,600 | -25.0% |
| Current assets | 29/58 | €229,859 | €186,218 | -€43,641 | -19.0% |
| Amounts receivable within one year | 40/41 | €84,293 | €61,617 | -€22,676 | -26.9% |
| Trade receivables | 40 | €53,120 | €49,106 | -€4,014 | -7.6% |
| Other amounts receivable | 41 | €31,173 | €12,511 | -€18,662 | -59.9% |
| Cash at bank and in hand | 54/58 | €145,566 | €123,555 | -€22,012 | -15.1% |
| Deferred charges and accrued income | 490/1 | - | €1,046 | +€1,046 | |
| Total equity and liabilities | 10/49 | €951,159 | €801,318 | -€149,841 | -15.8% |
| Equity | 10/15 | €53,977 | €207,282 | +€153,305 | +284% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €52,977 | €206,282 | +€153,305 | +289% |
| Distributable reserves | 133 | €52,977 | €206,282 | +€153,305 | +289% |
| Amounts payable | 17/49 | €897,183 | €594,036 | -€303,146 | -33.8% |
| Amounts payable within one year | 42/48 | €869,528 | €591,786 | -€277,741 | -31.9% |
| Trade debts | 44 | €14,772 | €57,887 | +€43,115 | +292% |
| Suppliers | 440/4 | €14,772 | €57,887 | +€43,115 | +292% |
| Taxes, remuneration and social security | 45 | €26,616 | €20,585 | -€6,031 | -22.7% |
| Taxes | 450/3 | €8,610 | €3,622 | -€4,988 | -57.9% |
| Remuneration and social security | 454/9 | €18,006 | €16,963 | -€1,043 | -5.8% |
| Other amounts payable | 47/48 | €828,140 | €513,314 | -€314,826 | -38.0% |
| Accrued charges and deferred income | 492/3 | €27,655 | €2,250 | -€25,405 | -91.9% |
| Remuneration, social security and pensions | 62 | €120,853 | €117,849 | -€3,005 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,200 | €106,200 | = | 0.0% |
| Other operating charges | 640/8 | €1,078 | €4,109 | +€3,031 | +281% |
| Gross operating margin | 9900 | €321,236 | €453,034 | +€131,798 | +41.0% |
| Operating profit (loss) | 9901 | €93,105 | €224,877 | +€131,772 | +142% |
| Financial income | 75/76B | €72 | €385 | +€313 | +432% |
| Recurring financial income | 75 | €72 | €385 | +€313 | +432% |
| Financial charges | 65/66B | €26,373 | €20,089 | -€6,285 | -23.8% |
| Recurring financial charges | 65 | €26,373 | €20,089 | -€6,285 | -23.8% |
| Profit (loss) for the period before taxes | 9903 | €66,804 | €205,173 | +€138,369 | +207% |
| Income taxes | 67/77 | €13,827 | €51,868 | +€38,041 | +275% |
| Profit (loss) for the period | 9904 | €52,977 | €153,305 | +€100,328 | +189% |
| Profit (loss) for the period to be appropriated | 9905 | €52,977 | €153,305 | +€100,328 | +189% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.