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.
HEBECO
Largest movements
- Cash -€107,426
down €107,426 (-90.2%), from €119,106 to €11,681
mainly Current investments (-€50,000) and Debts after one year (-€33,805)
- Current investments +€50,000
new in 2025: €50,000
- Receivables within one year -€2,832
down €2,832 (-9.8%), from €28,800 to €25,968
of which Trade receivables: -€3,985
- Debts after one year -€33,805
down €33,805 (-4.9%), from €691,620 to €657,816
- Tax, wage and social debts -€14,638
down €14,638 (-73.2%), from €19,986 to €5,348
of which Remuneration and social security: -€12,867
- Profit (loss) carried forward -€7,124
down €7,124 (-0.7%), from -€950,218 to -€957,342
- Trade debts -€3,027
down €3,027 (-61.4%), from €4,933 to €1,905
- Gross operating margin -€57,554
down €57,554 (-26.2%), from €220,063 to €162,510
- Staff costs -€38,866
down €38,866 (-25.2%), from €154,270 to €115,404
- Financial charges +€2,502
up €2,502 (+11.2%), from €22,350 to €24,853
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 | €182,534 | €122,264 | -€60,270 | -33.0% |
| Fixed assets | 21/28 | €30,802 | €29,178 | -€1,625 | -5.3% |
| Tangible fixed assets | 22/27 | €24,768 | €23,144 | -€1,625 | -6.6% |
| Plant, machinery and equipment | 23 | €7,613 | €4,780 | -€2,833 | -37.2% |
| Furniture and vehicles | 24 | €529 | €5,797 | +€5,267 | +995% |
| Other tangible fixed assets | 26 | €16,626 | €12,567 | -€4,059 | -24.4% |
| Financial fixed assets | 28 | €6,034 | €6,034 | = | 0.0% |
| Current assets | 29/58 | €151,732 | €93,086 | -€58,646 | -38.7% |
| Amounts receivable within one year | 40/41 | €28,800 | €25,968 | -€2,832 | -9.8% |
| Trade receivables | 40 | €27,584 | €23,599 | -€3,985 | -14.4% |
| Other amounts receivable | 41 | €1,216 | €2,369 | +€1,153 | +94.9% |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €119,106 | €11,681 | -€107,426 | -90.2% |
| Deferred charges and accrued income | 490/1 | €3,826 | €5,437 | +€1,612 | +42.1% |
| Total equity and liabilities | 10/49 | €182,534 | €122,264 | -€60,270 | -33.0% |
| Equity | 10/15 | -€535,682 | -€542,806 | -€7,124 | -1.3% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €364,958 | €364,958 | = | 0.0% |
| Distributable reserves | 133 | €364,958 | €364,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€950,218 | -€957,342 | -€7,124 | -0.7% |
| Amounts payable | 17/49 | €718,216 | €665,069 | -€53,147 | -7.4% |
| Amounts payable after more than one year | 17 | €691,620 | €657,816 | -€33,805 | -4.9% |
| Other amounts payable | 178/9 | €691,620 | €657,816 | -€33,805 | -4.9% |
| Amounts payable within one year | 42/48 | €24,919 | €7,253 | -€17,665 | -70.9% |
| Trade debts | 44 | €4,933 | €1,905 | -€3,027 | -61.4% |
| Suppliers | 440/4 | €4,933 | €1,905 | -€3,027 | -61.4% |
| Taxes, remuneration and social security | 45 | €19,986 | €5,348 | -€14,638 | -73.2% |
| Taxes | 450/3 | €2,445 | €674 | -€1,771 | -72.4% |
| Remuneration and social security | 454/9 | €17,541 | €4,674 | -€12,867 | -73.4% |
| Accrued charges and deferred income | 492/3 | €1,676 | - | -€1,676 | |
| Non-recurring operating income | 76A | - | €4,101 | +€4,101 | |
| Remuneration, social security and pensions | 62 | €154,270 | €115,404 | -€38,866 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,840 | €11,035 | +€2,195 | +24.8% |
| Other operating charges | 640/8 | €2,367 | €1,868 | -€499 | -21.1% |
| Non-recurring operating charges | 66A | - | €17,971 | +€17,971 | |
| Gross operating margin | 9900 | €220,063 | €162,510 | -€57,554 | -26.2% |
| Operating profit (loss) | 9901 | €54,586 | €16,231 | -€38,354 | -70.3% |
| Financial income | 75/76B | €2,342 | €2,018 | -€324 | -13.8% |
| Recurring financial income | 75 | €2,342 | €2,018 | -€324 | -13.8% |
| Financial charges | 65/66B | €22,350 | €24,853 | +€2,502 | +11.2% |
| Recurring financial charges | 65 | €22,350 | €24,853 | +€2,502 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €34,577 | -€6,603 | -€41,181 | |
| Income taxes | 67/77 | €740 | €520 | -€220 | -29.7% |
| Profit (loss) for the period | 9904 | €33,837 | -€7,124 | -€40,961 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,837 | -€7,124 | -€40,961 |
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 20 October 2026 via checked.be.