HEVE-IMMO: 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.
HEVE-IMMO
Largest movements
- Cash -€23,592
down €23,592 (-27.0%), from €87,260 to €63,668
mainly Investment in fixed assets (net) (-€29,000) and Accrued charges and deferred income (-€5,212)
- Tangible fixed assets +€21,315
up €21,315 (+9.7%), from €220,454 to €241,769
of which Plant, machinery and equipment: +€28,344
- Accrued charges and deferred income -€5,212
no longer reported in 2025 (was €5,212)
- Reserves +€3,881
up €3,881 (+4.4%), from €88,530 to €92,411
of which Distributable reserves: +€3,881
- Other debts +€3,648
up €3,648 (+5.6%), from €65,154 to €68,803
- Gross operating margin -€6,744
down €6,744 (-27.4%), from €24,659 to €17,914
- Financial charges -€5,211
down €5,211 (-99.1%), from €5,256 to €45
- Taxes -€685
down €685 (-27.6%), from €2,485 to €1,800
- Depreciation +€344
up €344 (+4.7%), from €7,342 to €7,685
- Other operating charges +€276
up €276 (+6.5%), from €4,227 to €4,503
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 | €308,073 | €306,512 | -€1,561 | -0.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €220,454 | €241,769 | +€21,315 | +9.7% |
| Tangible fixed assets | 22/27 | €220,454 | €241,769 | +€21,315 | +9.7% |
| Land and buildings | 22 | €217,044 | €210,015 | -€7,029 | -3.2% |
| Plant, machinery and equipment | 23 | €3,410 | €31,754 | +€28,344 | +831.3% |
| Current assets | 29/58 | €87,619 | €64,743 | -€22,876 | -26.1% |
| Amounts receivable within one year | 40/41 | - | €700 | +€700 | |
| Other amounts receivable | 41 | - | €700 | +€700 | |
| Cash at bank and in hand | 54/58 | €87,260 | €63,668 | -€23,592 | -27.0% |
| Deferred charges and accrued income | 490/1 | €359 | €375 | +€17 | +4.7% |
| Total equity and liabilities | 10/49 | €308,073 | €306,512 | -€1,561 | -0.5% |
| Equity | 10/15 | €232,835 | €236,716 | +€3,881 | +1.7% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Revaluation surpluses | 12 | €81,805 | €81,805 | = | 0.0% |
| Reserves | 13 | €88,530 | €92,411 | +€3,881 | +4.4% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €82,280 | €86,161 | +€3,881 | +4.7% |
| Amounts payable | 17/49 | €75,238 | €69,797 | -€5,442 | -7.2% |
| Amounts payable within one year | 42/48 | €70,026 | €69,797 | -€229 | -0.3% |
| Trade debts | 44 | €2,387 | €994 | -€1,393 | -58.4% |
| Suppliers | 440/4 | €2,387 | €994 | -€1,393 | -58.4% |
| Taxes, remuneration and social security | 45 | €2,485 | - | -€2,485 | |
| Taxes | 450/3 | €2,485 | - | -€2,485 | |
| Other amounts payable | 47/48 | €65,154 | €68,803 | +€3,648 | +5.6% |
| Accrued charges and deferred income | 492/3 | €5,212 | - | -€5,212 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,342 | €7,685 | +€344 | +4.7% |
| Other operating charges | 640/8 | €4,227 | €4,503 | +€276 | +6.5% |
| Gross operating margin | 9900 | €24,659 | €17,914 | -€6,744 | -27.4% |
| Operating profit (loss) | 9901 | €13,090 | €5,726 | -€7,364 | -56.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €5,256 | €45 | -€5,211 | -99.1% |
| Recurring financial charges | 65 | €5,256 | €45 | -€5,211 | -99.1% |
| Profit (loss) for the period before taxes | 9903 | €7,835 | €5,681 | -€2,154 | -27.5% |
| Income taxes | 67/77 | €2,485 | €1,800 | -€685 | -27.6% |
| Profit (loss) for the period | 9904 | €5,350 | €3,881 | -€1,469 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,350 | €3,881 | -€1,469 | -27.5% |
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 8 October 2026 via checked.be.