HETOBO: 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.
HETOBO
Largest movements
- Stocks and contracts -€1.0m
down €1.0m (-93.2%), from €1.1m to €74,106
of which Contracts in progress: -€1.0m
- Receivables within one year +€783,791
up €783,791 (+76.9%), from €1.0m to €1.8m
of which Other amounts receivable: +€619,103
- Cash +€408,825
up €408,825 (+880%), from €46,462 to €455,287
mainly Stocks and contracts (+€1.0m) and Trade debts (+€163,967)
- Trade debts +€163,967
up €163,967 (+207%), from €79,054 to €243,022
- Profit (loss) carried forward +€43,344
up €43,344 (+2.3%), from €1.9m to €1.9m
- Gross operating margin -€261,485
down €261,485 (-65.8%), from €397,354 to €135,869
- Staff costs -€89,863
down €89,863 (-56.8%), from €158,126 to €68,264
- Taxes -€38,060
down €38,060 (-71.8%), from €52,983 to €14,922
- Financial income +€32,833
up €32,833 (+359%), from €9,143 to €41,976
- Depreciation +€9,974
up €9,974 (+39.2%), from €25,457 to €35,432
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 | €2,235,385 | €2,430,415 | +€195,030 | +8.7% |
| Fixed assets | 21/28 | €80,707 | €91,309 | +€10,603 | +13.1% |
| Tangible fixed assets | 22/27 | €80,186 | €90,789 | +€10,603 | +13.2% |
| Plant, machinery and equipment | 23 | €72,254 | €48,834 | -€23,420 | -32.4% |
| Furniture and vehicles | 24 | €7,932 | €41,955 | +€34,023 | +429% |
| Financial fixed assets | 28 | €521 | €521 | = | 0.0% |
| Current assets | 29/58 | €2,154,678 | €2,339,105 | +€184,428 | +8.6% |
| Stocks and contracts in progress | 3 | €1,083,857 | €74,106 | -€1.0m | -93.2% |
| Stocks | 30/36 | €74,106 | €74,106 | = | 0.0% |
| Contracts in progress | 37 | €1,009,751 | - | -€1.0m | |
| Amounts receivable within one year | 40/41 | €1,018,670 | €1,802,460 | +€783,791 | +76.9% |
| Trade receivables | 40 | €95,723 | €260,410 | +€164,687 | +172% |
| Other amounts receivable | 41 | €922,947 | €1,542,050 | +€619,103 | +67.1% |
| Cash at bank and in hand | 54/58 | €46,462 | €455,287 | +€408,825 | +880% |
| Deferred charges and accrued income | 490/1 | €5,689 | €7,252 | +€1,563 | +27.5% |
| Total equity and liabilities | 10/49 | €2,235,385 | €2,430,415 | +€195,030 | +8.7% |
| Equity | 10/15 | €1,918,527 | €1,961,870 | +€43,344 | +2.3% |
| Contributions | 10/11 | €46,750 | €46,750 | = | 0.0% |
| Reserves | 13 | €4,675 | €4,675 | = | 0.0% |
| Distributable reserves | 133 | €4,675 | €4,675 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,867,102 | €1,910,445 | +€43,344 | +2.3% |
| Amounts payable | 17/49 | €316,858 | €468,545 | +€151,687 | +47.9% |
| Amounts payable after more than one year | 17 | €44,940 | €23,323 | -€21,617 | -48.1% |
| Financial debts | 170/4 | €44,940 | €23,323 | -€21,617 | -48.1% |
| Amounts payable within one year | 42/48 | €270,218 | €444,944 | +€174,726 | +64.7% |
| Current portion of amounts payable after more than one year | 42 | €19,585 | €19,789 | +€204 | +1.0% |
| Financial debts | 43 | - | €360 | +€360 | |
| Credit institutions | 430/8 | - | €360 | +€360 | |
| Trade debts | 44 | €79,054 | €243,022 | +€163,967 | +207% |
| Suppliers | 440/4 | €79,054 | €243,022 | +€163,967 | +207% |
| Advances received on contracts in progress | 46 | €4,116 | €4,116 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,233 | €7,658 | +€2,425 | +46.3% |
| Taxes | 450/3 | €4,393 | €6,367 | +€1,974 | +44.9% |
| Remuneration and social security | 454/9 | €840 | €1,291 | +€451 | +53.7% |
| Other amounts payable | 47/48 | €162,229 | €169,999 | +€7,770 | +4.8% |
| Accrued charges and deferred income | 492/3 | €1,700 | €278 | -€1,422 | -83.7% |
| Remuneration, social security and pensions | 62 | €158,126 | €68,264 | -€89,863 | -56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,457 | €35,432 | +€9,974 | +39.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,687 | -€3,500 | -€8,187 | |
| Other operating charges | 640/8 | €3,731 | €3,353 | -€378 | -10.1% |
| Gross operating margin | 9900 | €397,354 | €135,869 | -€261,485 | -65.8% |
| Operating profit (loss) | 9901 | €205,352 | €32,320 | -€173,031 | -84.3% |
| Financial income | 75/76B | €9,143 | €41,976 | +€32,833 | +359% |
| Recurring financial income | 75 | €9,143 | €41,976 | +€32,833 | +359% |
| Financial charges | 65/66B | €10,286 | €16,030 | +€5,745 | +55.8% |
| Recurring financial charges | 65 | €10,286 | €16,030 | +€5,745 | +55.8% |
| Profit (loss) for the period before taxes | 9903 | €204,209 | €58,266 | -€145,943 | -71.5% |
| Income taxes | 67/77 | €52,983 | €14,922 | -€38,060 | -71.8% |
| Profit (loss) for the period | 9904 | €151,226 | €43,344 | -€107,882 | -71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €151,226 | €43,344 | -€107,882 | -71.3% |
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 15 October 2026 via checked.be.