HEHO: 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.
HEHO
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+609.1%), from €166,491 to €1.2m
of which Land and buildings: +€1.1m
- Receivables within one year +€71,109
up €71,109 (+22.7%), from €313,299 to €384,408
of which Trade receivables: +€52,104
- Cash -€41,525
down €41,525 (-85.2%), from €48,714 to €7,189
mainly Investment in fixed assets (net) (-€1.1m) and Receivables within one year (-€71,109)
- Debts after one year +€964,750
new in 2025: €964,750
- Current portion of long-term debt +€113,500
new in 2025: €113,500
- Profit (loss) carried forward -€26,776
new in 2025: -€26,776
- Gross operating margin -€164,700
no longer reported in 2025 (was €164,700)
- Turnover +€134,354
new in 2025: €134,354
- Financial charges +€33,885
up €33,885 (+3769.6%), from €899 to €34,784
- Services and other goods +€30,752
new in 2025: €30,752
- Taxes -€13,524
no longer reported in 2025 (was €13,524)
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 | €529,723 | €1,577,465 | +€1.0m | +197.8% |
| Fixed assets | 21/28 | €166,626 | €1,180,800 | +€1.0m | +608.7% |
| Tangible fixed assets | 22/27 | €166,491 | €1,180,665 | +€1.0m | +609.1% |
| Land and buildings | 22 | €45,697 | €1,121,561 | +€1.1m | +2354.3% |
| Plant, machinery and equipment | 23 | €89,034 | €58,811 | -€30,223 | -33.9% |
| Furniture and vehicles | 24 | €31,760 | €292 | -€31,467 | -99.1% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Other financial fixed assets | 284/8 | - | €135 | +€135 | |
| Amounts receivable and cash guarantees | 285/8 | - | €135 | +€135 | |
| Current assets | 29/58 | €363,097 | €396,665 | +€33,568 | +9.2% |
| Amounts receivable within one year | 40/41 | €313,299 | €384,408 | +€71,109 | +22.7% |
| Trade receivables | 40 | €13,709 | €65,814 | +€52,104 | +380.1% |
| Other amounts receivable | 41 | €299,590 | €318,594 | +€19,004 | +6.3% |
| Cash at bank and in hand | 54/58 | €48,714 | €7,189 | -€41,525 | -85.2% |
| Deferred charges and accrued income | 490/1 | €1,084 | €5,068 | +€3,984 | +367.6% |
| Total equity and liabilities | 10/49 | €529,723 | €1,577,465 | +€1.0m | +197.8% |
| Equity | 10/15 | €519,533 | €492,758 | -€26,776 | -5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €500,933 | €500,933 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €480,323 | €480,323 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€26,776 | -€26,776 | |
| Amounts payable | 17/49 | €10,189 | €1,084,707 | +€1.1m | +10545.4% |
| Amounts payable after more than one year | 17 | - | €964,750 | +€964,750 | |
| Financial debts | 170/4 | - | €964,750 | +€964,750 | |
| Credit institutions | 173 | - | €964,750 | +€964,750 | |
| Amounts payable within one year | 42/48 | €10,189 | €119,957 | +€109,768 | +1077.3% |
| Current portion of amounts payable after more than one year | 42 | - | €113,500 | +€113,500 | |
| Trade debts | 44 | €1,284 | €4,756 | +€3,472 | +270.4% |
| Suppliers | 440/4 | €1,284 | €4,756 | +€3,472 | +270.4% |
| Taxes, remuneration and social security | 45 | €8,905 | €701 | -€8,204 | -92.1% |
| Taxes | 450/3 | €8,905 | €701 | -€8,204 | -92.1% |
| Other amounts payable | 47/48 | - | €1,000 | +€1,000 | |
| Operating income | 70/76A | - | €141,099 | +€141,099 | |
| Turnover | 70 | - | €134,354 | +€134,354 | |
| Non-recurring operating income | 76A | - | €6,744 | +€6,744 | |
| Operating charges | 60/66A | - | €133,568 | +€133,568 | |
| Services and other goods | 61 | - | €30,752 | +€30,752 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,142 | €80,170 | -€6,972 | -8.0% |
| Other operating charges | 640/8 | €24,096 | €22,646 | -€1,450 | -6.0% |
| Gross operating margin | 9900 | €164,700 | - | -€164,700 | |
| Operating profit (loss) | 9901 | €53,462 | €7,531 | -€45,932 | -85.9% |
| Financial income | 75/76B | €1,320 | €478 | -€842 | -63.8% |
| Recurring financial income | 75 | €1,320 | €478 | -€842 | -63.8% |
| Income from current assets | 751 | - | €478 | +€478 | |
| Financial charges | 65/66B | €899 | €34,784 | +€33,885 | +3769.6% |
| Recurring financial charges | 65 | €899 | €34,784 | +€33,885 | +3769.6% |
| Debt charges | 650 | - | €29,251 | +€29,251 | |
| Other financial charges | 652/9 | - | €5,533 | +€5,533 | |
| Profit (loss) for the period before taxes | 9903 | €53,884 | -€26,776 | -€80,659 | |
| Income taxes | 67/77 | €13,524 | - | -€13,524 | |
| Profit (loss) for the period | 9904 | €40,360 | -€26,776 | -€67,135 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,360 | -€26,776 | -€67,135 |
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 9 October 2026 via checked.be.