HESBO: 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.
HESBO
Largest movements
- Cash -€54,459
down €54,459 (-61.0%), from €89,211 to €34,752
mainly Tax, wage and social debts (-€121,367)
- Tax, wage and social debts -€121,367
down €121,367 (-93.3%), from €130,116 to €8,749
- Other debts +€30,886
up €30,886 (+69.9%), from €44,208 to €75,094
- Depreciation -€12,942
down €12,942 (-79.8%), from €16,214 to €3,272
- Taxes +€3,008
up €3,008 (+105%), from €2,870 to €5,879
- Gross operating margin -€1,424
down €1,424 (-5.1%), from €27,743 to €26,319
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 | €2,522,645 | €2,445,463 | -€77,182 | -3.1% |
| Fixed assets | 21/28 | €2,406,492 | €2,403,220 | -€3,272 | -0.1% |
| Tangible fixed assets | 22/27 | €6,492 | €3,220 | -€3,272 | -50.4% |
| Plant, machinery and equipment | 23 | €1,119 | €929 | -€190 | -17.0% |
| Furniture and vehicles | 24 | €5,373 | €2,291 | -€3,082 | -57.4% |
| Financial fixed assets | 28 | €2,400,000 | €2,400,000 | = | 0.0% |
| Current assets | 29/58 | €116,153 | €42,243 | -€73,910 | -63.6% |
| Amounts receivable within one year | 40/41 | €24,576 | €5,061 | -€19,514 | -79.4% |
| Trade receivables | 40 | €22,903 | €4,905 | -€17,998 | -78.6% |
| Other amounts receivable | 41 | €1,673 | €156 | -€1,517 | -90.7% |
| Cash at bank and in hand | 54/58 | €89,211 | €34,752 | -€54,459 | -61.0% |
| Deferred charges and accrued income | 490/1 | €2,367 | €2,430 | +€64 | +2.7% |
| Total equity and liabilities | 10/49 | €2,522,645 | €2,445,463 | -€77,182 | -3.1% |
| Equity | 10/15 | €2,267,379 | €2,280,566 | +€13,187 | +0.6% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €1,267,379 | €1,280,566 | +€13,187 | +1.0% |
| Distributable reserves | 133 | €1,267,379 | €1,280,566 | +€13,187 | +1.0% |
| Amounts payable | 17/49 | €255,266 | €164,898 | -€90,369 | -35.4% |
| Amounts payable after more than one year | 17 | €79,000 | €79,000 | = | 0.0% |
| Financial debts | 170/4 | €79,000 | €79,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €174,641 | €84,208 | -€90,434 | -51.8% |
| Trade debts | 44 | €316 | €364 | +€48 | +15.2% |
| Suppliers | 440/4 | €316 | €364 | +€48 | +15.2% |
| Taxes, remuneration and social security | 45 | €130,116 | €8,749 | -€121,367 | -93.3% |
| Taxes | 450/3 | €130,116 | €8,749 | -€121,367 | -93.3% |
| Other amounts payable | 47/48 | €44,208 | €75,094 | +€30,886 | +69.9% |
| Accrued charges and deferred income | 492/3 | €1,625 | €1,690 | +€65 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,214 | €3,272 | -€12,942 | -79.8% |
| Other operating charges | 640/8 | €1,885 | €2,139 | +€254 | +13.5% |
| Gross operating margin | 9900 | €27,743 | €26,319 | -€1,424 | -5.1% |
| Operating profit (loss) | 9901 | €9,644 | €20,907 | +€11,263 | +117% |
| Financial charges | 65/66B | €1,824 | €1,842 | +€18 | +1.0% |
| Recurring financial charges | 65 | €1,824 | €1,842 | +€18 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €7,820 | €19,065 | +€11,245 | +144% |
| Income taxes | 67/77 | €2,870 | €5,879 | +€3,008 | +105% |
| Profit (loss) for the period | 9904 | €4,950 | €13,187 | +€8,237 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €4,950 | €13,187 | +€8,237 | +166% |
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 24 October 2026 via checked.be.