HESBIMMO: 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.
HESBIMMO
Largest movements
- Tangible fixed assets +€51,061
up €51,061 (+17.2%), from €296,659 to €347,720
of which Land and buildings: +€60,463
- Receivables within one year -€37,482
down €37,482 (-66.3%), from €56,543 to €19,062
of which Trade receivables: -€37,490
- Cash -€34,718
down €34,718 (-32.5%), from €106,845 to €72,126
mainly Investment in fixed assets (net) (-€57,090) and Trade debts (-€33,523)
- Reserves +€46,825
up €46,825 (+20.3%), from €230,600 to €277,425
of which Distributable reserves: +€46,825
- Trade debts -€33,523
down €33,523 (-97.2%), from €34,474 to €952
- Tax, wage and social debts -€17,540
down €17,540 (-67.1%), from €26,159 to €8,618
- Current portion of long-term debt -€16,104
no longer reported in 2025 (was €16,104)
- Depreciation -€12,663
down €12,663 (-65.9%), from €19,202 to €6,538
- Gross operating margin -€2,928
down €2,928 (-3.2%), from €92,581 to €89,652
- Taxes -€2,383
down €2,383 (-12.4%), from €19,215 to €16,833
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 | €496,780 | €475,801 | -€20,979 | -4.2% |
| Formation expenses | 20 | €36,370 | €35,860 | -€509 | -1.4% |
| Fixed assets | 21/28 | €297,022 | €348,083 | +€51,061 | +17.2% |
| Tangible fixed assets | 22/27 | €296,659 | €347,720 | +€51,061 | +17.2% |
| Land and buildings | 22 | €253,446 | €313,909 | +€60,463 | +23.9% |
| Furniture and vehicles | 24 | €26,231 | €33,811 | +€7,581 | +28.9% |
| Leasing and similar rights | 25 | €16,983 | - | -€16,983 | |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €163,388 | €91,857 | -€71,531 | -43.8% |
| Amounts receivable within one year | 40/41 | €56,543 | €19,062 | -€37,482 | -66.3% |
| Trade receivables | 40 | €56,529 | €19,039 | -€37,490 | -66.3% |
| Other amounts receivable | 41 | €14 | €23 | +€8 | +57.9% |
| Cash at bank and in hand | 54/58 | €106,845 | €72,126 | -€34,718 | -32.5% |
| Deferred charges and accrued income | 490/1 | - | €669 | +€669 | |
| Total equity and liabilities | 10/49 | €496,780 | €475,801 | -€20,979 | -4.2% |
| Equity | 10/15 | €249,200 | €296,025 | +€46,825 | +18.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €230,600 | €277,425 | +€46,825 | +20.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €228,740 | €275,565 | +€46,825 | +20.5% |
| Amounts payable | 17/49 | €247,580 | €179,776 | -€67,804 | -27.4% |
| Amounts payable within one year | 42/48 | €246,762 | €179,653 | -€67,110 | -27.2% |
| Current portion of amounts payable after more than one year | 42 | €16,104 | - | -€16,104 | |
| Trade debts | 44 | €34,474 | €952 | -€33,523 | -97.2% |
| Suppliers | 440/4 | €34,474 | €952 | -€33,523 | -97.2% |
| Taxes, remuneration and social security | 45 | €26,159 | €8,618 | -€17,540 | -67.1% |
| Taxes | 450/3 | €26,159 | €8,618 | -€17,540 | -67.1% |
| Other amounts payable | 47/48 | €170,025 | €170,083 | +€57 | 0.0% |
| Accrued charges and deferred income | 492/3 | €817 | €123 | -€694 | -85.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,202 | €6,538 | -€12,663 | -65.9% |
| Other operating charges | 640/8 | €2,918 | €2,632 | -€286 | -9.8% |
| Non-recurring operating charges | 66A | - | €15,696 | +€15,696 | |
| Gross operating margin | 9900 | €92,581 | €89,652 | -€2,928 | -3.2% |
| Operating profit (loss) | 9901 | €70,461 | €64,786 | -€5,675 | -8.1% |
| Financial charges | 65/66B | €1,759 | €1,128 | -€631 | -35.9% |
| Recurring financial charges | 65 | €1,759 | €1,128 | -€631 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €68,702 | €63,658 | -€5,044 | -7.3% |
| Income taxes | 67/77 | €19,215 | €16,833 | -€2,383 | -12.4% |
| Profit (loss) for the period | 9904 | €49,487 | €46,825 | -€2,662 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €49,487 | €46,825 | -€2,662 | -5.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.