HEVA: 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.
HEVA
Largest movements
- Tangible fixed assets -€55,214
down €55,214 (-6.4%), from €857,006 to €801,792
of which Land and buildings: -€55,013
- Receivables within one year +€23,940
up €23,940 (+27.3%), from €87,693 to €111,633
of which Other amounts receivable: +€23,940
- Debts after one year -€69,448
down €69,448 (-16.8%), from €413,723 to €344,275
- Other debts +€33,510
up €33,510 (+15.5%), from €216,232 to €249,742
- Reserves +€16,149
up €16,149 (+9.0%), from €179,592 to €195,740
- Gross operating margin -€12,234
down €12,234 (-11.4%), from €107,163 to €94,928
- Financial charges +€8,044
up €8,044 (+72.8%), from €11,056 to €19,100
- Taxes -€2,546
down €2,546 (-29.1%), from €8,735 to €6,190
- Depreciation -€1,901
down €1,901 (-3.3%), from €57,116 to €55,214
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 | €949,979 | €924,338 | -€25,641 | -2.7% |
| Fixed assets | 21/28 | €857,006 | €801,792 | -€55,214 | -6.4% |
| Tangible fixed assets | 22/27 | €857,006 | €801,792 | -€55,214 | -6.4% |
| Land and buildings | 22 | €856,681 | €801,668 | -€55,013 | -6.4% |
| Plant, machinery and equipment | 23 | €325 | €124 | -€202 | -62.0% |
| Current assets | 29/58 | €92,973 | €122,547 | +€29,573 | +31.8% |
| Amounts receivable within one year | 40/41 | €87,693 | €111,633 | +€23,940 | +27.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €87,693 | €111,633 | +€23,940 | +27.3% |
| Cash at bank and in hand | 54/58 | - | €4,476 | +€4,476 | |
| Deferred charges and accrued income | 490/1 | €5,280 | €6,437 | +€1,157 | +21.9% |
| Total equity and liabilities | 10/49 | €949,979 | €924,338 | -€25,641 | -2.7% |
| Equity | 10/15 | €235,392 | €251,540 | +€16,149 | +6.9% |
| Contributions | 10/11 | €55,800 | €55,800 | = | 0.0% |
| Reserves | 13 | €179,592 | €195,740 | +€16,149 | +9.0% |
| Distributable reserves | 133 | €179,592 | €195,740 | +€16,149 | +9.0% |
| Amounts payable | 17/49 | €714,588 | €672,798 | -€41,790 | -5.8% |
| Amounts payable after more than one year | 17 | €413,723 | €344,275 | -€69,448 | -16.8% |
| Financial debts | 170/4 | €413,723 | €344,275 | -€69,448 | -16.8% |
| Amounts payable within one year | 42/48 | €300,864 | €328,522 | +€27,658 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €69,816 | €69,448 | -€368 | -0.5% |
| Financial debts | 43 | €2,496 | €0 | -€2,496 | -100.0% |
| Credit institutions | 430/8 | €2,496 | €0 | -€2,496 | -100.0% |
| Trade debts | 44 | €3,586 | €3,372 | -€214 | -6.0% |
| Suppliers | 440/4 | €3,586 | €3,372 | -€214 | -6.0% |
| Taxes, remuneration and social security | 45 | €8,735 | €5,962 | -€2,774 | -31.8% |
| Taxes | 450/3 | €8,735 | €5,962 | -€2,774 | -31.8% |
| Other amounts payable | 47/48 | €216,232 | €249,742 | +€33,510 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,116 | €55,214 | -€1,901 | -3.3% |
| Other operating charges | 640/8 | €3,231 | €3,152 | -€79 | -2.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €107,163 | €94,928 | -€12,234 | -11.4% |
| Operating profit (loss) | 9901 | €46,816 | €36,562 | -€10,254 | -21.9% |
| Financial income | 75/76B | €4,209 | €4,876 | +€667 | +15.9% |
| Recurring financial income | 75 | €4,209 | €4,876 | +€667 | +15.9% |
| Financial charges | 65/66B | €11,056 | €19,100 | +€8,044 | +72.8% |
| Recurring financial charges | 65 | €11,056 | €19,100 | +€8,044 | +72.8% |
| Profit (loss) for the period before taxes | 9903 | €39,969 | €22,339 | -€17,631 | -44.1% |
| Income taxes | 67/77 | €8,735 | €6,190 | -€2,546 | -29.1% |
| Profit (loss) for the period | 9904 | €31,234 | €16,149 | -€15,085 | -48.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,234 | €16,149 | -€15,085 | -48.3% |
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 2 October 2026 via checked.be.