HEBELEX: what changed
HEBELEX
Largest movements
- Receivables within one year +€42,689
up €42,689 (+256%), from €16,699 to €59,388
of which Other amounts receivable: +€30,689
- Cash -€40,166
down €40,166 (-52.4%), from €76,628 to €36,462
mainly Receivables within one year (-€42,689) and Tax, wage and social debts (-€7,086)
No liability line moved by more than 1% of the balance sheet total.
- Financial income +€30,000
new in 2025: €30,000
- Depreciation +€7,215
up €7,215 (+385%), from €1,876 to €9,091
- Gross operating margin -€1,477
down €1,477 (-16.9%), from €8,731 to €7,254
- Staff costs -€508
down €508 (-1.9%), from €27,370 to €26,862
- Other operating charges +€224
up €224 (+125%), from €180 to €404
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,706,222 | €1,699,672 | -€6,550 | -0.4% |
| Fixed assets | 21/28 | €1,317,508 | €1,308,417 | -€9,091 | -0.7% |
| Tangible fixed assets | 22/27 | €35,102 | €26,012 | -€9,091 | -25.9% |
| Furniture and vehicles | 24 | €35,102 | €26,012 | -€9,091 | -25.9% |
| Financial fixed assets | 28 | €1,282,406 | €1,282,406 | = | 0.0% |
| Current assets | 29/58 | €388,714 | €391,254 | +€2,540 | +0.7% |
| Amounts receivable within one year | 40/41 | €16,699 | €59,388 | +€42,689 | +256% |
| Trade receivables | 40 | €15,000 | €27,000 | +€12,000 | +80.0% |
| Other amounts receivable | 41 | €1,699 | €32,388 | +€30,689 | +1,807% |
| Current investments | 50/53 | €295,024 | €295,024 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €76,628 | €36,462 | -€40,166 | -52.4% |
| Deferred charges and accrued income | 490/1 | €363 | €380 | +€17 | +4.7% |
| Total equity and liabilities | 10/49 | €1,706,222 | €1,699,672 | -€6,550 | -0.4% |
| Equity | 10/15 | €1,698,702 | €1,699,378 | +€676 | 0.0% |
| Contributions | 10/11 | €12,408 | €12,408 | = | 0.0% |
| Reserves | 13 | €1,686,294 | €1,686,970 | +€676 | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,684,434 | €1,685,110 | +€676 | 0.0% |
| Amounts payable | 17/49 | €7,520 | €293 | -€7,227 | -96.1% |
| Amounts payable within one year | 42/48 | €7,520 | €293 | -€7,227 | -96.1% |
| Trade debts | 44 | €257 | €117 | -€140 | -54.6% |
| Suppliers | 440/4 | €257 | €117 | -€140 | -54.6% |
| Taxes, remuneration and social security | 45 | €7,263 | €177 | -€7,086 | -97.6% |
| Taxes | 450/3 | €3,891 | €176 | -€3,715 | -95.5% |
| Remuneration and social security | 454/9 | €3,372 | €1 | -€3,371 | -100.0% |
| Remuneration, social security and pensions | 62 | €27,370 | €26,862 | -€508 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,876 | €9,091 | +€7,215 | +385% |
| Other operating charges | 640/8 | €180 | €404 | +€224 | +125% |
| Non-recurring operating charges | 66A | €4,698 | - | -€4,698 | |
| Gross operating margin | 9900 | €8,731 | €7,254 | -€1,477 | -16.9% |
| Operating profit (loss) | 9901 | -€25,393 | -€29,103 | -€3,709 | -14.6% |
| Financial income | 75/76B | - | €30,000 | +€30,000 | |
| Recurring financial income | 75 | - | €30,000 | +€30,000 | |
| Financial charges | 65/66B | €44 | €45 | +€1 | +3.2% |
| Recurring financial charges | 65 | €44 | €45 | +€1 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | -€25,437 | €852 | +€26,290 | |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | -€25,612 | €676 | +€26,288 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,612 | €676 | +€26,288 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.