HEGIB: 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.
HEGIB
Largest movements
- Tangible fixed assets -€42,323
down €42,323 (-9.2%), from €460,693 to €418,371
of which Land and buildings: -€42,323
- Stocks and contracts +€25,431
up €25,431 (+2.1%), from €1.2m to €1.2m
- Debts after one year -€94,754
down €94,754 (-10.0%), from €945,715 to €850,961
- Other debts +€92,767
up €92,767 (+85.5%), from €108,522 to €201,288
- Trade debts -€59,770
down €59,770 (-99.7%), from €59,946 to €176
- Current portion of long-term debt +€46,839
up €46,839 (+97.8%), from €47,915 to €94,754
- Gross operating margin +€11,463
up €11,463 (+21.7%), from €52,835 to €64,297
- Depreciation -€2,822
down €2,822 (-100.0%), from €2,822 to €0
- Other operating charges +€2,485
up €2,485 (+11.8%), from €20,996 to €23,481
- Taxes +€2,481
up €2,481 (+214.5%), from €1,157 to €3,638
- Financial charges +€735
up €735 (+1.9%), from €38,865 to €39,600
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 | €1,700,682 | €1,694,465 | -€6,217 | -0.4% |
| Fixed assets | 21/28 | €460,693 | €418,371 | -€42,323 | -9.2% |
| Tangible fixed assets | 22/27 | €460,693 | €418,371 | -€42,323 | -9.2% |
| Land and buildings | 22 | €342,323 | €300,000 | -€42,323 | -12.4% |
| Other tangible fixed assets | 26 | €118,371 | €118,371 | = | 0.0% |
| Current assets | 29/58 | €1,239,989 | €1,276,094 | +€36,105 | +2.9% |
| Stocks and contracts in progress | 3 | €1,213,724 | €1,239,155 | +€25,431 | +2.1% |
| Stocks | 30/36 | €1,213,724 | €1,239,155 | +€25,431 | +2.1% |
| Amounts receivable within one year | 40/41 | €5,618 | €0 | -€5,618 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €5,618 | €0 | -€5,618 | -100.0% |
| Cash at bank and in hand | 54/58 | €9,916 | €25,382 | +€15,466 | +156.0% |
| Deferred charges and accrued income | 490/1 | €10,730 | €11,557 | +€827 | +7.7% |
| Total equity and liabilities | 10/49 | €1,700,682 | €1,694,465 | -€6,217 | -0.4% |
| Equity | 10/15 | €461,772 | €461,422 | -€349 | -0.1% |
| Contributions | 10/11 | €210,020 | €210,020 | = | 0.0% |
| Reserves | 13 | €251,752 | €251,402 | -€349 | -0.1% |
| Tax-exempt reserves | 132 | €156,363 | €152,010 | -€4,353 | -2.8% |
| Distributable reserves | 133 | €95,388 | €99,392 | +€4,003 | +4.2% |
| Provisions and deferred taxes | 16 | €65,681 | €63,852 | -€1,828 | -2.8% |
| Deferred taxes | 168 | €65,681 | €63,852 | -€1,828 | -2.8% |
| Amounts payable | 17/49 | €1,173,230 | €1,169,191 | -€4,039 | -0.3% |
| Amounts payable after more than one year | 17 | €945,715 | €850,961 | -€94,754 | -10.0% |
| Financial debts | 170/4 | €945,715 | €850,961 | -€94,754 | -10.0% |
| Amounts payable within one year | 42/48 | €217,515 | €300,811 | +€83,296 | +38.3% |
| Current portion of amounts payable after more than one year | 42 | €47,915 | €94,754 | +€46,839 | +97.8% |
| Trade debts | 44 | €59,946 | €176 | -€59,770 | -99.7% |
| Suppliers | 440/4 | €59,946 | €176 | -€59,770 | -99.7% |
| Taxes, remuneration and social security | 45 | €1,132 | €4,593 | +€3,460 | +305.6% |
| Taxes | 450/3 | €1,132 | €4,593 | +€3,460 | +305.6% |
| Other amounts payable | 47/48 | €108,522 | €201,288 | +€92,767 | +85.5% |
| Accrued charges and deferred income | 492/3 | €10,000 | €17,419 | +€7,419 | +74.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,822 | €0 | -€2,822 | -100.0% |
| Other operating charges | 640/8 | €20,996 | €23,481 | +€2,485 | +11.8% |
| Gross operating margin | 9900 | €52,835 | €64,297 | +€11,463 | +21.7% |
| Operating profit (loss) | 9901 | €29,017 | €40,816 | +€11,800 | +40.7% |
| Financial income | 75/76B | €74 | €244 | +€170 | +230.7% |
| Recurring financial income | 75 | €74 | €244 | +€170 | +230.7% |
| Financial charges | 65/66B | €38,865 | €39,600 | +€735 | +1.9% |
| Recurring financial charges | 65 | €38,865 | €39,600 | +€735 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,774 | €1,460 | +€11,234 | |
| Transfer from deferred taxes | 780 | €1,828 | €1,828 | = | 0.0% |
| Income taxes | 67/77 | €1,157 | €3,638 | +€2,481 | +214.5% |
| Profit (loss) for the period | 9904 | -€9,102 | -€349 | +€8,753 | +96.2% |
| Transfer from tax-exempt reserves | 789 | €4,353 | €4,353 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,750 | €4,003 | +€8,753 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.