HesbEnergie: what changed
HesbEnergie
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+312%), from €467,596 to €1.9m
of which Other tangible fixed assets: +€1.5m
- Cash -€344,746
down €344,746 (-60.9%), from €566,205 to €221,459
mainly Investment in fixed assets (net) (-€1.6m) and Current investments (-€275,000)
- Current investments +€275,000
up €275,000 (+157%), from €175,000 to €450,000
- Receivables within one year -€74,865
down €74,865 (-15.4%), from €486,720 to €411,854
of which Trade receivables: -€44,543
- Debts after one year +€653,639
up €653,639 (+254%), from €257,511 to €911,150
- Contributions +€240,750
up €240,750 (+9.3%), from €2.6m to €2.8m
- Current portion of long-term debt +€203,093
up €203,093 (+965%), from €21,050 to €224,143
- Investment grants +€190,060
new in 2025: €190,060
- Profit (loss) carried forward +€59,285
up €59,285 (+17.1%), from €345,743 to €405,028
- Gross operating margin -€82,080
down €82,080, from €26,969 to -€55,111
- Staff costs +€56,390
up €56,390 (+138%), from €40,941 to €97,331
- Financial charges +€17,460
up €17,460 (+428%), from €4,078 to €21,538
- Depreciation +€15,500
up €15,500 (+37.3%), from €41,503 to €57,004
- Financial income +€8,844
up €8,844 (+2.4%), from €367,228 to €376,072
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,347,033 | €4,691,611 | +€1.3m | +40.2% |
| Fixed assets | 21/28 | €2,112,152 | €3,606,669 | +€1.5m | +70.8% |
| Intangible fixed assets | 21 | €35,831 | €73,676 | +€37,845 | +106% |
| Tangible fixed assets | 22/27 | €467,596 | €1,924,238 | +€1.5m | +312% |
| Furniture and vehicles | 24 | €263 | €0 | -€263 | -100% |
| Other tangible fixed assets | 26 | €467,334 | €1,924,238 | +€1.5m | +312% |
| Financial fixed assets | 28 | €1,608,725 | €1,608,755 | +€30 | 0.0% |
| Current assets | 29/58 | €1,234,881 | €1,084,942 | -€149,939 | -12.1% |
| Amounts receivable within one year | 40/41 | €486,720 | €411,854 | -€74,865 | -15.4% |
| Trade receivables | 40 | €81,957 | €37,415 | -€44,543 | -54.3% |
| Other amounts receivable | 41 | €404,762 | €374,440 | -€30,323 | -7.5% |
| Current investments | 50/53 | €175,000 | €450,000 | +€275,000 | +157% |
| Cash at bank and in hand | 54/58 | €566,205 | €221,459 | -€344,746 | -60.9% |
| Deferred charges and accrued income | 490/1 | €6,957 | €1,629 | -€5,328 | -76.6% |
| Total equity and liabilities | 10/49 | €3,347,033 | €4,691,611 | +€1.3m | +40.2% |
| Equity | 10/15 | €2,926,300 | €3,416,394 | +€490,095 | +16.7% |
| Contributions | 10/11 | €2,580,557 | €2,821,307 | +€240,750 | +9.3% |
| Profit (loss) carried forward | 14 | €345,743 | €405,028 | +€59,285 | +17.1% |
| Investment grants | 15 | - | €190,060 | +€190,060 | |
| Amounts payable | 17/49 | €420,734 | €1,275,216 | +€854,483 | +203% |
| Amounts payable after more than one year | 17 | €257,511 | €911,150 | +€653,639 | +254% |
| Financial debts | 170/4 | €257,511 | €911,150 | +€653,639 | +254% |
| Amounts payable within one year | 42/48 | €163,222 | €364,067 | +€200,844 | +123% |
| Current portion of amounts payable after more than one year | 42 | €21,050 | €224,143 | +€203,093 | +965% |
| Trade debts | 44 | €58,687 | €37,006 | -€21,681 | -36.9% |
| Suppliers | 440/4 | €58,687 | €37,006 | -€21,681 | -36.9% |
| Taxes, remuneration and social security | 45 | €5,580 | €28,551 | +€22,972 | +412% |
| Taxes | 450/3 | - | €11,918 | +€11,918 | |
| Remuneration and social security | 454/9 | €5,580 | €16,633 | +€11,053 | +198% |
| Other amounts payable | 47/48 | €77,906 | €74,367 | -€3,540 | -4.5% |
| Remuneration, social security and pensions | 62 | €40,941 | €97,331 | +€56,390 | +138% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,503 | €57,004 | +€15,500 | +37.3% |
| Other operating charges | 640/8 | €1,018 | €1,160 | +€142 | +13.9% |
| Non-recurring operating charges | 66A | €11,942 | - | -€11,942 | |
| Gross operating margin | 9900 | €26,969 | -€55,111 | -€82,080 | |
| Operating profit (loss) | 9901 | -€68,436 | -€210,606 | -€142,170 | -208% |
| Financial income | 75/76B | €367,228 | €376,072 | +€8,844 | +2.4% |
| Recurring financial income | 75 | €367,228 | €376,072 | +€8,844 | +2.4% |
| Financial charges | 65/66B | €4,078 | €21,538 | +€17,460 | +428% |
| Recurring financial charges | 65 | €4,078 | €21,538 | +€17,460 | +428% |
| Profit (loss) for the period before taxes | 9903 | €294,714 | €143,928 | -€150,786 | -51.2% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €294,714 | €143,928 | -€150,786 | -51.2% |
| Profit (loss) for the period to be appropriated | 9905 | €294,714 | €143,928 | -€150,786 | -51.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.