HEBELIS: what changed
Two fiscal 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.
HEBELIS
Largest movements
- Current investments +€293,142
up €293,142 (+15.3%), from €1.9m to €2.2m
- Cash -€129,629
down €129,629 (-15.7%), from €827,975 to €698,346
mainly Current investments (-€293,142) and Tax, wage and social debts (-€1,635)
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€256,029
down €256,029 (-70.0%), from €365,990 to €109,961
of which Financial income: -€256,534
- Financial charges -€161,401
down €161,401 (-95.4%), from €169,104 to €7,703
of which Non-recurring financial charges: -€169,052
- Taxes -€6,761
down €6,761 (-20.1%), from €33,580 to €26,819
- Gross operating margin -€402
down €402 (-14.3%), from -€2,802 to -€3,203
- Other operating charges +€35
up €35 (+3.1%), from €1,108 to €1,143
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,837,893 | €7,907,362 | +€69,468 | +0.9% |
| Fixed assets | 21/28 | €4,979,844 | €4,979,844 | = | 0.0% |
| Financial fixed assets | 28 | €4,979,844 | €4,979,844 | = | 0.0% |
| Current assets | 29/58 | €2,858,049 | €2,927,518 | +€69,468 | +2.4% |
| Amounts receivable within one year | 40/41 | €80,948 | €7,618 | -€73,330 | -90.6% |
| Other amounts receivable | 41 | €80,948 | €7,618 | -€73,330 | -90.6% |
| Current investments | 50/53 | €1,920,412 | €2,213,554 | +€293,142 | +15.3% |
| Cash at bank and in hand | 54/58 | €827,975 | €698,346 | -€129,629 | -15.7% |
| Deferred charges and accrued income | 490/1 | €28,714 | €8,000 | -€20,714 | -72.1% |
| Total equity and liabilities | 10/49 | €7,837,893 | €7,907,362 | +€69,468 | +0.9% |
| Equity | 10/15 | €7,836,259 | €7,906,519 | +€70,260 | +0.9% |
| Contributions | 10/11 | €6,833,948 | €6,833,948 | = | 0.0% |
| Reserves | 13 | €1,002,311 | €1,072,571 | +€70,260 | +7.0% |
| Distributable reserves | 133 | €1,002,311 | €1,072,571 | +€70,260 | +7.0% |
| Amounts payable | 17/49 | €1,635 | €843 | -€792 | -48.4% |
| Amounts payable within one year | 42/48 | €1,635 | €843 | -€792 | -48.4% |
| Trade debts | 44 | - | €10 | +€10 | |
| Suppliers | 440/4 | - | €10 | +€10 | |
| Taxes, remuneration and social security | 45 | €1,635 | - | -€1,635 | |
| Taxes | 450/3 | €1,635 | - | -€1,635 | |
| Other amounts payable | 47/48 | - | €833 | +€833 | |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.1% |
| Gross operating margin | 9900 | -€2,802 | -€3,203 | -€402 | -14.3% |
| Operating profit (loss) | 9901 | -€3,910 | -€4,346 | -€436 | -11.2% |
| Financial income | 75/76B | €365,990 | €109,961 | -€256,029 | -70.0% |
| Recurring financial income | 75 | €365,990 | €109,456 | -€256,534 | -70.1% |
| Non-recurring financial income | 76B | - | €505 | +€505 | |
| Financial charges | 65/66B | €169,104 | €7,703 | -€161,401 | -95.4% |
| Recurring financial charges | 65 | €53 | €7,703 | +€7,650 | +14572.0% |
| Non-recurring financial charges | 66B | €169,052 | - | -€169,052 | |
| Profit (loss) for the period before taxes | 9903 | €192,976 | €97,912 | -€95,064 | -49.3% |
| Income taxes | 67/77 | €33,580 | €26,819 | -€6,761 | -20.1% |
| Profit (loss) for the period | 9904 | €159,396 | €71,093 | -€88,302 | -55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €159,396 | €71,093 | -€88,302 | -55.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.