HEBRU: 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.
HEBRU
Largest movements
- Receivables within one year -€166,797
down €166,797 (-92.8%), from €179,745 to €12,948
of which Trade receivables: -€127,848
- Current investments +€89,733
new in 2025: €89,733
- Cash -€69,180
down €69,180 (-59.3%), from €116,636 to €47,457
mainly Contributions, distributions and other (-€269,516) and Current investments (-€89,733)
- Reserves -€179,945
down €179,945 (-66.8%), from €269,516 to €89,570
- Other debts +€54,357
up €54,357, from €0 to €54,357
- Tax, wage and social debts -€19,774
down €19,774 (-44.1%), from €44,887 to €25,113
- Gross operating margin -€79,405
down €79,405 (-38.3%), from €207,090 to €127,685
- Taxes -€15,181
down €15,181 (-32.0%), from €47,443 to €32,262
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 | €391,701 | €244,283 | -€147,417 | -37.6% |
| Fixed assets | 21/28 | €93,645 | €90,989 | -€2,657 | -2.8% |
| Intangible fixed assets | 21 | €606 | €409 | -€197 | -32.6% |
| Tangible fixed assets | 22/27 | €8,009 | €5,550 | -€2,459 | -30.7% |
| Land and buildings | 22 | - | €2,800 | +€2,800 | |
| Plant, machinery and equipment | 23 | €308 | €168 | -€140 | -45.5% |
| Furniture and vehicles | 24 | €7,702 | €2,582 | -€5,119 | -66.5% |
| Financial fixed assets | 28 | €85,030 | €85,030 | = | 0.0% |
| Current assets | 29/58 | €298,055 | €153,294 | -€144,761 | -48.6% |
| Amounts receivable within one year | 40/41 | €179,745 | €12,948 | -€166,797 | -92.8% |
| Trade receivables | 40 | €140,795 | €12,948 | -€127,848 | -90.8% |
| Other amounts receivable | 41 | €38,949 | €0 | -€38,949 | -100% |
| Current investments | 50/53 | - | €89,733 | +€89,733 | |
| Cash at bank and in hand | 54/58 | €116,636 | €47,457 | -€69,180 | -59.3% |
| Deferred charges and accrued income | 490/1 | €1,674 | €3,157 | +€1,483 | +88.6% |
| Total equity and liabilities | 10/49 | €391,701 | €244,283 | -€147,417 | -37.6% |
| Equity | 10/15 | €344,516 | €164,570 | -€179,945 | -52.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €269,516 | €89,570 | -€179,945 | -66.8% |
| Distributable reserves | 133 | €269,516 | €89,570 | -€179,945 | -66.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €47,185 | €79,713 | +€32,528 | +68.9% |
| Amounts payable within one year | 42/48 | €46,016 | €79,713 | +€33,697 | +73.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €1,129 | €243 | -€886 | -78.5% |
| Suppliers | 440/4 | €1,129 | €243 | -€886 | -78.5% |
| Taxes, remuneration and social security | 45 | €44,887 | €25,113 | -€19,774 | -44.1% |
| Taxes | 450/3 | €44,887 | €25,113 | -€19,774 | -44.1% |
| Other amounts payable | 47/48 | €0 | €54,357 | +€54,357 | |
| Accrued charges and deferred income | 492/3 | €1,168 | €0 | -€1,168 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,505 | €5,457 | -€2,048 | -27.3% |
| Other operating charges | 640/8 | €1,320 | €1,182 | -€139 | -10.5% |
| Gross operating margin | 9900 | €207,090 | €127,685 | -€79,405 | -38.3% |
| Operating profit (loss) | 9901 | €198,266 | €121,047 | -€77,218 | -38.9% |
| Financial income | 75/76B | €1,491 | €2,553 | +€1,062 | +71.2% |
| Recurring financial income | 75 | €1,491 | €2,553 | +€1,062 | +71.2% |
| Financial charges | 65/66B | €1,240 | €1,768 | +€527 | +42.5% |
| Recurring financial charges | 65 | €1,240 | €1,768 | +€527 | +42.5% |
| Profit (loss) for the period before taxes | 9903 | €198,516 | €121,832 | -€76,684 | -38.6% |
| Income taxes | 67/77 | €47,443 | €32,262 | -€15,181 | -32.0% |
| Profit (loss) for the period | 9904 | €151,073 | €89,570 | -€61,502 | -40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €151,073 | €89,570 | -€61,502 | -40.7% |
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 29 October 2026 via checked.be.