HEBO: 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.
HEBO
Largest movements
- Current investments +€135,000
new in 2025: €135,000
- Cash -€62,856
down €62,856 (-90.4%), from €69,500 to €6,643
mainly Current investments (-€135,000) and Receivables within one year (-€31,557)
- Receivables within one year +€31,557
up €31,557 (+241%), from €13,068 to €44,625
- Tangible fixed assets +€3,689
new in 2025: €3,689
- Reserves +€80,161
up €80,161 (+145%), from €55,222 to €135,384
- Tax, wage and social debts +€27,925
up €27,925 (+118%), from €23,698 to €51,623
- Gross operating margin +€33,793
up €33,793 (+48.1%), from €70,189 to €103,982
- Taxes +€6,933
up €6,933 (+45.3%), from €15,307 to €22,239
- Depreciation +€2,616
new in 2025: €2,616
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 | €83,658 | €191,000 | +€107,342 | +128% |
| Fixed assets | 21/28 | - | €3,854 | +€3,854 | |
| Tangible fixed assets | 22/27 | - | €3,689 | +€3,689 | |
| Furniture and vehicles | 24 | - | €3,689 | +€3,689 | |
| Financial fixed assets | 28 | - | €165 | +€165 | |
| Current assets | 29/58 | €83,658 | €187,147 | +€103,489 | +124% |
| Amounts receivable within one year | 40/41 | €13,068 | €44,625 | +€31,557 | +241% |
| Trade receivables | 40 | €13,068 | €44,625 | +€31,557 | +241% |
| Current investments | 50/53 | - | €135,000 | +€135,000 | |
| Cash at bank and in hand | 54/58 | €69,500 | €6,643 | -€62,856 | -90.4% |
| Deferred charges and accrued income | 490/1 | €1,090 | €878 | -€212 | -19.4% |
| Total equity and liabilities | 10/49 | €83,658 | €191,000 | +€107,342 | +128% |
| Equity | 10/15 | €57,722 | €137,884 | +€80,161 | +139% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €55,222 | €135,384 | +€80,161 | +145% |
| Distributable reserves | 133 | €55,222 | €135,384 | +€80,161 | +145% |
| Amounts payable | 17/49 | €25,935 | €53,116 | +€27,181 | +105% |
| Amounts payable within one year | 42/48 | €25,935 | €53,116 | +€27,181 | +105% |
| Trade debts | 44 | €1,783 | €1,019 | -€764 | -42.9% |
| Suppliers | 440/4 | €1,783 | €1,019 | -€764 | -42.9% |
| Taxes, remuneration and social security | 45 | €23,698 | €51,623 | +€27,925 | +118% |
| Taxes | 450/3 | €23,698 | €51,623 | +€27,925 | +118% |
| Other amounts payable | 47/48 | €454 | €474 | +€20 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,616 | +€2,616 | |
| Other operating charges | 640/8 | €50 | €120 | +€70 | +140% |
| Gross operating margin | 9900 | €70,189 | €103,982 | +€33,793 | +48.1% |
| Operating profit (loss) | 9901 | €70,139 | €101,246 | +€31,107 | +44.4% |
| Financial income | 75/76B | €579 | €1,296 | +€717 | +124% |
| Recurring financial income | 75 | €579 | €1,296 | +€717 | +124% |
| Financial charges | 65/66B | €189 | €141 | -€48 | -25.4% |
| Recurring financial charges | 65 | €189 | €141 | -€48 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €70,529 | €102,401 | +€31,872 | +45.2% |
| Income taxes | 67/77 | €15,307 | €22,239 | +€6,933 | +45.3% |
| Profit (loss) for the period | 9904 | €55,222 | €80,161 | +€24,939 | +45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,222 | €80,161 | +€24,939 | +45.2% |
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 15 October 2026 via checked.be.