HEBECO: 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.
What changed
HEBECO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€128,045
2024 · €174,591-€46,546
Equity
€2.3m
2024 · €2.3m-€21,955
Cash
€15,872
2024 · €17,719-€1,847
Balance sheet total
€4.0m
2024 · €3.9m+€112,535
Largest movements
Assets
- Tangible fixed assets +€92,373
up €92,373 (+2.4%), from €3.8m to €3.9m
of which Land and buildings: +€79,834
Equity and liabilities
- Tax, wage and social debts +€60,433
up €60,433 (+609.5%), from €9,916 to €70,348
- Trade debts +€59,114
up €59,114 (+415.2%), from €14,239 to €73,353
- Short-term financial debts +€56,000
up €56,000 (+47.0%), from €119,200 to €175,200
- Other debts -€48,298
down €48,298 (-4.3%), from €1.1m to €1.1m
Income statement
- Other operating charges +€47,033
up €47,033 (+140.9%), from €33,374 to €80,406
- Gross operating margin +€34,892
up €34,892 (+7.6%), from €458,128 to €493,020
- Depreciation +€23,133
up €23,133 (+14.6%), from €158,496 to €181,628
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.
Result 2024
€174,591
Gross operating margin
+€34,892
Staff costs
-€398
Depreciation
-€23,133
Other operating charges
-€47,033
Financial income
-€3,657
Financial charges
-€3,505
Taxes
-€3,712
Result 2025
€128,045
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.
From operations
+€366,154
Investment
-€274,001
Financing
-€94,000
Cash 2024
€17,719
From operations (derived)
+€366,154
Net result for the year
+€128,045
Depreciation
+€181,628
Receivables within one year
-€22,007
Deferred charges and accrued income
-€1
Provisions
-€11,604
Trade debts
+€59,114
Tax, wage and social debts
+€60,433
Advances received
-€11,760
Other debts
-€48,298
Accrued charges and deferred income
+€30,604
Investment (derived)
-€274,001
Investment in fixed assets (net)
-€274,001
Financing
-€94,000
Short-term financial debts
+€56,000
Contributions, distributions and other
-€150,000
Cash 2025
€15,872
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,893,391 | €4,005,925 | +€112,535 | +2.9% |
| Fixed assets | 21/28 | €3,838,976 | €3,931,348 | +€92,373 | +2.4% |
| Tangible fixed assets | 22/27 | €3,838,876 | €3,931,248 | +€92,373 | +2.4% |
| Land and buildings | 22 | €3,836,852 | €3,916,686 | +€79,834 | +2.1% |
| Furniture and vehicles | 24 | €2,024 | €14,562 | +€12,538 | +619.5% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €54,415 | €74,577 | +€20,162 | +37.1% |
| Amounts receivable within one year | 40/41 | €26,940 | €48,948 | +€22,007 | +81.7% |
| Trade receivables | 40 | €23,124 | €44,361 | +€21,237 | +91.8% |
| Other amounts receivable | 41 | €3,817 | €4,586 | +€770 | +20.2% |
| Cash at bank and in hand | 54/58 | €17,719 | €15,872 | -€1,847 | -10.4% |
| Deferred charges and accrued income | 490/1 | €9,755 | €9,757 | +€1 | 0.0% |
| Total equity and liabilities | 10/49 | €3,893,391 | €4,005,925 | +€112,535 | +2.9% |
| Equity | 10/15 | €2,331,291 | €2,309,335 | -€21,955 | -0.9% |
| Contributions | 10/11 | €142,547 | €142,547 | = | 0.0% |
| Capital | 10 | €142,547 | €142,547 | = | 0.0% |
| Issued capital | 100 | €142,547 | €142,547 | = | 0.0% |
| Reserves | 13 | €1,366,042 | €1,335,241 | -€30,801 | -2.3% |
| Non-distributable reserves | 130/1 | €14,255 | €14,255 | = | 0.0% |
| Legal reserve | 130 | €14,255 | €14,255 | = | 0.0% |
| Tax-exempt reserves | 132 | €747,913 | €717,112 | -€30,801 | -4.1% |
| Distributable reserves | 133 | €603,874 | €603,874 | = | 0.0% |
| Profit (loss) carried forward | 14 | €822,702 | €831,548 | +€8,846 | +1.1% |
| Provisions and deferred taxes | 16 | €253,157 | €241,553 | -€11,604 | -4.6% |
| Deferred taxes | 168 | €253,157 | €241,553 | -€11,604 | -4.6% |
| Amounts payable | 17/49 | €1,308,943 | €1,455,036 | +€146,093 | +11.2% |
| Amounts payable within one year | 42/48 | €1,267,322 | €1,382,811 | +€115,489 | +9.1% |
| Financial debts | 43 | €119,200 | €175,200 | +€56,000 | +47.0% |
| Credit institutions | 430/8 | €119,200 | €175,200 | +€56,000 | +47.0% |
| Trade debts | 44 | €14,239 | €73,353 | +€59,114 | +415.2% |
| Suppliers | 440/4 | €14,239 | €73,353 | +€59,114 | +415.2% |
| Advances received on contracts in progress | 46 | €11,760 | €0 | -€11,760 | -100.0% |
| Taxes, remuneration and social security | 45 | €9,916 | €70,348 | +€60,433 | +609.5% |
| Taxes | 450/3 | €9,916 | €70,348 | +€60,433 | +609.5% |
| Other amounts payable | 47/48 | €1,112,208 | €1,063,910 | -€48,298 | -4.3% |
| Accrued charges and deferred income | 492/3 | €41,621 | €72,225 | +€30,604 | +73.5% |
| Remuneration, social security and pensions | 62 | €148 | €546 | +€398 | +269.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,496 | €181,628 | +€23,133 | +14.6% |
| Other operating charges | 640/8 | €33,374 | €80,406 | +€47,033 | +140.9% |
| Gross operating margin | 9900 | €458,128 | €493,020 | +€34,892 | +7.6% |
| Operating profit (loss) | 9901 | €266,111 | €230,440 | -€35,672 | -13.4% |
| Financial income | 75/76B | €3,702 | €45 | -€3,657 | -98.8% |
| Recurring financial income | 75 | €3,702 | €45 | -€3,657 | -98.8% |
| Financial charges | 65/66B | €38,272 | €41,778 | +€3,505 | +9.2% |
| Recurring financial charges | 65 | €38,272 | €41,778 | +€3,505 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | €231,541 | €188,707 | -€42,834 | -18.5% |
| Transfer from deferred taxes | 780 | €11,604 | €11,604 | = | 0.0% |
| Income taxes | 67/77 | €68,554 | €72,266 | +€3,712 | +5.4% |
| Profit (loss) for the period | 9904 | €174,591 | €128,045 | -€46,546 | -26.7% |
| Transfer from tax-exempt reserves | 789 | €30,801 | €30,801 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €205,392 | €158,846 | -€46,546 | -22.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.