HEVACO: 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.
What changed
HEVACO
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€40,278
2024 · €20,018+€20,260
Equity
€533,616
2024 · €493,338+€40,278
Cash
€25,262
2024 · €14,770+€10,492
Balance sheet total
€1.5m
2024 · €1.6m-€93,603
Largest movements
Assets
- Tangible fixed assets -€104,477
down €104,477 (-7.4%), from €1.4m to €1.3m
of which Land and buildings: -€66,823
Equity and liabilities
- Debts after one year -€55,478
down €55,478 (-20.6%), from €269,697 to €214,219
of which Financial debts: -€63,744
- Short-term financial debts -€45,000
down €45,000 (-7.7%), from €585,000 to €540,000
- Reserves +€40,278
up €40,278 (+33.0%), from €122,092 to €162,370
of which Non-distributable reserves: +€47,568
- Current portion of long-term debt -€27,424
down €27,424 (-30.0%), from €91,388 to €63,965
Income statement
- Gross operating margin +€15,789
up €15,789 (+5.4%), from €290,770 to €306,559
- Financial charges -€12,866
down €12,866 (-24.0%), from €53,588 to €40,722
- Taxes +€7,937
up €7,937 (+50.5%), from €15,712 to €23,649
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.
Result 2024
€20,018
Gross operating margin
+€15,789
Staff costs
-€2,104
Depreciation
+€37
Other operating charges
+€458
Financial income
+€1,150
Financial charges
+€12,866
Taxes
-€7,937
Result 2025
€40,278
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.
From operations
+€140,168
Investment
-€1,775
Financing
-€127,901
Cash 2024
€14,770
From operations (derived)
+€140,168
Net result for the year
+€40,278
Depreciation
+€104,477
Receivables within one year
+€1,392
Provisions
-€2,430
Trade debts
-€6,607
Tax, wage and social debts
+€184
Other debts
-€3,257
Accrued charges and deferred income
+€6,131
Investment (derived)
-€1,775
Current investments
-€1,775
Financing
-€127,901
Debts after one year
-€55,478
Current portion of long-term debt
-€27,424
Short-term financial debts
-€45,000
Cash 2025
€25,262
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,573,045 | €1,479,442 | -€93,603 | -6.0% |
| Fixed assets | 21/28 | €1,404,826 | €1,300,349 | -€104,477 | -7.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,402,669 | €1,298,192 | -€104,477 | -7.4% |
| Land and buildings | 22 | €1,219,761 | €1,152,939 | -€66,823 | -5.5% |
| Furniture and vehicles | 24 | €48,115 | €25,371 | -€22,744 | -47.3% |
| Other tangible fixed assets | 26 | €134,792 | €119,882 | -€14,911 | -11.1% |
| Financial fixed assets | 28 | €2,158 | €2,158 | = | 0.0% |
| Current assets | 29/58 | €168,218 | €179,093 | +€10,874 | +6.5% |
| Amounts receivable within one year | 40/41 | €12,546 | €11,154 | -€1,392 | -11.1% |
| Trade receivables | 40 | €7,781 | €10,268 | +€2,487 | +32.0% |
| Other amounts receivable | 41 | €4,765 | €885 | -€3,879 | -81.4% |
| Current investments | 50/53 | €140,903 | €142,678 | +€1,775 | +1.3% |
| Cash at bank and in hand | 54/58 | €14,770 | €25,262 | +€10,492 | +71.0% |
| Total equity and liabilities | 10/49 | €1,573,045 | €1,479,442 | -€93,603 | -6.0% |
| Equity | 10/15 | €493,338 | €533,616 | +€40,278 | +8.2% |
| Contributions | 10/11 | €114,493 | €114,493 | = | 0.0% |
| Capital | 10 | €114,493 | €114,493 | = | 0.0% |
| Issued capital | 100 | €114,493 | €114,493 | = | 0.0% |
| Revaluation surpluses | 12 | €256,753 | €256,753 | = | 0.0% |
| Reserves | 13 | €122,092 | €162,370 | +€40,278 | +33.0% |
| Non-distributable reserves | 130/1 | €63,298 | €110,866 | +€47,568 | +75.1% |
| Legal reserve | 130 | €63,298 | €110,866 | +€47,568 | +75.1% |
| Tax-exempt reserves | 132 | €58,794 | €51,504 | -€7,290 | -12.4% |
| Provisions and deferred taxes | 16 | €19,570 | €17,140 | -€2,430 | -12.4% |
| Deferred taxes | 168 | €19,570 | €17,140 | -€2,430 | -12.4% |
| Amounts payable | 17/49 | €1,060,137 | €928,687 | -€131,451 | -12.4% |
| Amounts payable after more than one year | 17 | €269,697 | €214,219 | -€55,478 | -20.6% |
| Financial debts | 170/4 | €246,857 | €183,113 | -€63,744 | -25.8% |
| Other amounts payable | 178/9 | €22,840 | €31,107 | +€8,267 | +36.2% |
| Amounts payable within one year | 42/48 | €782,820 | €700,717 | -€82,104 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €91,388 | €63,965 | -€27,424 | -30.0% |
| Financial debts | 43 | €585,000 | €540,000 | -€45,000 | -7.7% |
| Credit institutions | 430/8 | €585,000 | €540,000 | -€45,000 | -7.7% |
| Trade debts | 44 | €10,425 | €3,818 | -€6,607 | -63.4% |
| Suppliers | 440/4 | €10,425 | €3,818 | -€6,607 | -63.4% |
| Taxes, remuneration and social security | 45 | €23,596 | €23,780 | +€184 | +0.8% |
| Taxes | 450/3 | €17,493 | €14,131 | -€3,362 | -19.2% |
| Remuneration and social security | 454/9 | €6,103 | €9,649 | +€3,546 | +58.1% |
| Other amounts payable | 47/48 | €72,411 | €69,154 | -€3,257 | -4.5% |
| Accrued charges and deferred income | 492/3 | €7,620 | €13,751 | +€6,131 | +80.5% |
| Non-recurring operating income | 76A | - | €3,656 | +€3,656 | |
| Remuneration, social security and pensions | 62 | €73,903 | €76,007 | +€2,104 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,514 | €104,477 | -€37 | 0.0% |
| Other operating charges | 640/8 | €26,854 | €26,396 | -€458 | -1.7% |
| Gross operating margin | 9900 | €290,770 | €306,559 | +€15,789 | +5.4% |
| Operating profit (loss) | 9901 | €85,498 | €99,678 | +€14,180 | +16.6% |
| Financial income | 75/76B | €1,390 | €2,540 | +€1,150 | +82.8% |
| Recurring financial income | 75 | €1,390 | €2,540 | +€1,150 | +82.8% |
| Financial charges | 65/66B | €53,588 | €40,722 | -€12,866 | -24.0% |
| Recurring financial charges | 65 | €53,588 | €40,722 | -€12,866 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €33,301 | €61,497 | +€28,196 | +84.7% |
| Transfer from deferred taxes | 780 | €2,430 | €2,430 | = | 0.0% |
| Income taxes | 67/77 | €15,712 | €23,649 | +€7,937 | +50.5% |
| Profit (loss) for the period | 9904 | €20,018 | €40,278 | +€20,260 | +101.2% |
| Transfer from tax-exempt reserves | 789 | €7,290 | €7,290 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €27,308 | €47,568 | +€20,260 | +74.2% |
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 29 September 2026 via checked.be.