HECO BOUW: 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.
HECO BOUW
Largest movements
- Receivables within one year +€147,921
up €147,921 (+670%), from €22,094 to €170,015
of which Other amounts receivable: +€139,853
- Stocks and contracts -€66,019
down €66,019 (-19.1%), from €345,484 to €279,465
- Cash -€12,099
down €12,099 (-49.2%), from €24,572 to €12,472
mainly Receivables within one year (-€147,921) and Tax, wage and social debts (-€17,355)
- Debts after one year +€65,000
new in 2025: €65,000
- Tax, wage and social debts -€17,355
down €17,355 (-98.1%), from €17,694 to €339
- Reserves +€12,193
up €12,193 (+25.3%), from €48,275 to €60,468
- Other debts +€5,875
up €5,875 (+110%), from €5,344 to €11,219
- Trade debts +€5,201
up €5,201 (+178%), from €2,921 to €8,122
- Gross operating margin +€31,184
up €31,184, from -€10,402 to €20,781
- Financial charges +€6,505
up €6,505 (+609%), from €1,069 to €7,573
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 | €394,234 | €465,148 | +€70,914 | +18.0% |
| Fixed assets | 21/28 | €325 | €1,856 | +€1,531 | +471% |
| Tangible fixed assets | 22/27 | - | €1,531 | +€1,531 | |
| Furniture and vehicles | 24 | - | €1,531 | +€1,531 | |
| Financial fixed assets | 28 | €325 | €325 | = | 0.0% |
| Current assets | 29/58 | €393,909 | €463,292 | +€69,383 | +17.6% |
| Stocks and contracts in progress | 3 | €345,484 | €279,465 | -€66,019 | -19.1% |
| Stocks | 30/36 | €345,484 | €279,465 | -€66,019 | -19.1% |
| Amounts receivable within one year | 40/41 | €22,094 | €170,015 | +€147,921 | +670% |
| Trade receivables | 40 | €5,046 | €13,115 | +€8,068 | +160% |
| Other amounts receivable | 41 | €17,047 | €156,900 | +€139,853 | +820% |
| Cash at bank and in hand | 54/58 | €24,572 | €12,472 | -€12,099 | -49.2% |
| Deferred charges and accrued income | 490/1 | €1,759 | €1,340 | -€419 | -23.8% |
| Total equity and liabilities | 10/49 | €394,234 | €465,148 | +€70,914 | +18.0% |
| Equity | 10/15 | €168,275 | €180,468 | +€12,193 | +7.2% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €48,275 | €60,468 | +€12,193 | +25.3% |
| Distributable reserves | 133 | €48,275 | €60,468 | +€12,193 | +25.3% |
| Amounts payable | 17/49 | €225,959 | €284,680 | +€58,721 | +26.0% |
| Amounts payable after more than one year | 17 | - | €65,000 | +€65,000 | |
| Financial debts | 170/4 | - | €65,000 | +€65,000 | |
| Amounts payable within one year | 42/48 | €225,959 | €219,680 | -€6,279 | -2.8% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €2,921 | €8,122 | +€5,201 | +178% |
| Suppliers | 440/4 | €2,921 | €8,122 | +€5,201 | +178% |
| Taxes, remuneration and social security | 45 | €17,694 | €339 | -€17,355 | -98.1% |
| Taxes | 450/3 | €17,694 | €339 | -€17,355 | -98.1% |
| Other amounts payable | 47/48 | €5,344 | €11,219 | +€5,875 | +110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €95 | +€95 | |
| Other operating charges | 640/8 | €761 | €641 | -€120 | -15.8% |
| Gross operating margin | 9900 | -€10,402 | €20,781 | +€31,184 | |
| Operating profit (loss) | 9901 | -€11,164 | €20,045 | +€31,209 | |
| Financial income | 75/76B | €22 | €27 | +€4 | +18.9% |
| Recurring financial income | 75 | €22 | €27 | +€4 | +18.9% |
| Financial charges | 65/66B | €1,069 | €7,573 | +€6,505 | +609% |
| Recurring financial charges | 65 | €1,069 | €7,573 | +€6,505 | +609% |
| Profit (loss) for the period before taxes | 9903 | -€12,210 | €12,498 | +€24,708 | |
| Income taxes | 67/77 | €230 | €305 | +€75 | +32.4% |
| Profit (loss) for the period | 9904 | -€12,440 | €12,193 | +€24,633 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,440 | €12,193 | +€24,633 |
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 28 October 2026 via checked.be.