HeBoStar: 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.
HeBoStar
Largest movements
- Cash -€56,843
down €56,843 (-94.5%), from €60,130 to €3,287
mainly Trade debts (-€82,994) and Current portion of long-term debt (-€38,225)
- Stocks and contracts -€31,391
down €31,391 (-25.5%), from €122,941 to €91,550
- Tangible fixed assets -€12,179
down €12,179 (-37.2%), from €32,713 to €20,535
of which Furniture and vehicles: -€9,406
- Receivables within one year -€10,167
down €10,167 (-22.0%), from €46,246 to €36,079
of which Trade receivables: -€6,284
- Deferred charges and accrued income +€9,324
up €9,324 (+170.0%), from €5,484 to €14,808
- Trade debts -€82,994
down €82,994 (-73.4%), from €113,023 to €30,029
- Current portion of long-term debt -€38,225
down €38,225 (-71.2%), from €53,660 to €15,435
- Short-term financial debts +€6,453
up €6,453, from €0 to €6,453
- Debts after one year +€5,992
up €5,992 (+71.4%), from €8,390 to €14,382
- Accrued charges and deferred income +€3,813
up €3,813 (+3194.7%), from €119 to €3,933
- Financial income -€4,998
down €4,998 (-35.8%), from €13,966 to €8,967
- Gross operating margin -€4,056
down €4,056 (-20.0%), from €20,274 to €16,218
- Taxes -€3,138
down €3,138 (-59.0%), from €5,320 to €2,182
- Financial charges +€1,287
up €1,287 (+49.6%), from €2,595 to €3,882
- Depreciation +€296
up €296 (+2.1%), from €14,293 to €14,589
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 | €267,964 | €166,709 | -€101,255 | -37.8% |
| Fixed assets | 21/28 | €33,163 | €20,985 | -€12,179 | -36.7% |
| Tangible fixed assets | 22/27 | €32,713 | €20,535 | -€12,179 | -37.2% |
| Plant, machinery and equipment | 23 | €9,023 | €6,878 | -€2,145 | -23.8% |
| Furniture and vehicles | 24 | €20,647 | €11,241 | -€9,406 | -45.6% |
| Other tangible fixed assets | 26 | €3,044 | €2,416 | -€628 | -20.6% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €234,801 | €145,724 | -€89,076 | -37.9% |
| Stocks and contracts in progress | 3 | €122,941 | €91,550 | -€31,391 | -25.5% |
| Stocks | 30/36 | €122,941 | €91,550 | -€31,391 | -25.5% |
| Amounts receivable within one year | 40/41 | €46,246 | €36,079 | -€10,167 | -22.0% |
| Trade receivables | 40 | €34,578 | €28,294 | -€6,284 | -18.2% |
| Other amounts receivable | 41 | €11,668 | €7,785 | -€3,883 | -33.3% |
| Cash at bank and in hand | 54/58 | €60,130 | €3,287 | -€56,843 | -94.5% |
| Deferred charges and accrued income | 490/1 | €5,484 | €14,808 | +€9,324 | +170.0% |
| Total equity and liabilities | 10/49 | €267,964 | €166,709 | -€101,255 | -37.8% |
| Equity | 10/15 | €87,992 | €90,261 | +€2,269 | +2.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €69,400 | €71,669 | +€2,269 | +3.3% |
| Distributable reserves | 133 | €69,400 | €71,669 | +€2,269 | +3.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €179,972 | €76,448 | -€103,524 | -57.5% |
| Amounts payable after more than one year | 17 | €8,390 | €14,382 | +€5,992 | +71.4% |
| Financial debts | 170/4 | €8,390 | €14,382 | +€5,992 | +71.4% |
| Amounts payable within one year | 42/48 | €171,462 | €58,134 | -€113,328 | -66.1% |
| Current portion of amounts payable after more than one year | 42 | €53,660 | €15,435 | -€38,225 | -71.2% |
| Financial debts | 43 | €0 | €6,453 | +€6,453 | |
| Credit institutions | 430/8 | €0 | €6,453 | +€6,453 | |
| Trade debts | 44 | €113,023 | €30,029 | -€82,994 | -73.4% |
| Suppliers | 440/4 | €113,023 | €30,029 | -€82,994 | -73.4% |
| Taxes, remuneration and social security | 45 | €4,780 | €6,216 | +€1,437 | +30.1% |
| Taxes | 450/3 | €4,780 | €6,216 | +€1,437 | +30.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €119 | €3,933 | +€3,813 | +3194.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,293 | €14,589 | +€296 | +2.1% |
| Other operating charges | 640/8 | €2,087 | €2,265 | +€178 | +8.5% |
| Gross operating margin | 9900 | €20,274 | €16,218 | -€4,056 | -20.0% |
| Operating profit (loss) | 9901 | €3,894 | -€636 | -€4,530 | |
| Financial income | 75/76B | €13,966 | €8,967 | -€4,998 | -35.8% |
| Recurring financial income | 75 | €13,966 | €8,967 | -€4,998 | -35.8% |
| Financial charges | 65/66B | €2,595 | €3,882 | +€1,287 | +49.6% |
| Recurring financial charges | 65 | €2,595 | €3,882 | +€1,287 | +49.6% |
| Profit (loss) for the period before taxes | 9903 | €15,266 | €4,450 | -€10,815 | -70.8% |
| Income taxes | 67/77 | €5,320 | €2,182 | -€3,138 | -59.0% |
| Profit (loss) for the period | 9904 | €9,946 | €2,269 | -€7,677 | -77.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,946 | €2,269 | -€7,677 | -77.2% |
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 8 October 2026 via checked.be.