HEVEE: 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.
HEVEE
Largest movements
- Tangible fixed assets +€137,949
up €137,949 (+43.5%), from €317,057 to €455,006
of which Plant, machinery and equipment: +€155,958
- Receivables within one year -€65,164
down €65,164 (-71.4%), from €91,285 to €26,122
of which Trade receivables: -€64,901
- Formation expenses +€62,125
new in 2025: €62,125
- Cash +€23,236
up €23,236 (+53.3%), from €43,565 to €66,801
mainly Other debts (+€153,275) and Contributions, distributions and other (+€150,000)
- Stocks and contracts +€10,301
new in 2025: €10,301
- Other debts +€153,275
up €153,275 (+320%), from €47,933 to €201,208
- Contributions +€150,000
up €150,000 (+806%), from €18,600 to €168,600
- Current portion of long-term debt -€149,560
down €149,560 (-87.9%), from €170,242 to €20,681
- Tax, wage and social debts +€124,817
up €124,817 (+806%), from €15,487 to €140,304
of which Remuneration and social security: +€84,558
- Profit (loss) carried forward -€54,607
down €54,607, from €13,481 to -€41,126
- Gross operating margin +€411,995
up €411,995 (+692%), from €59,507 to €471,502
- Staff costs +€377,453
up €377,453 (+1,780%), from €21,209 to €398,663
- Financial charges +€45,222
up €45,222 (+725%), from €6,238 to €51,460
- Depreciation +€43,310
up €43,310 (+276%), from €15,695 to €59,005
- Other operating charges +€15,258
up €15,258 (+1,095%), from €1,394 to €16,652
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 | €475,890 | €643,097 | +€167,207 | +35.1% |
| Formation expenses | 20 | - | €62,125 | +€62,125 | |
| Fixed assets | 21/28 | €341,040 | €476,876 | +€135,836 | +39.8% |
| Intangible fixed assets | 21 | €23,983 | €21,870 | -€2,113 | -8.8% |
| Tangible fixed assets | 22/27 | €317,057 | €455,006 | +€137,949 | +43.5% |
| Land and buildings | 22 | - | €7,963 | +€7,963 | |
| Plant, machinery and equipment | 23 | €237,267 | €393,225 | +€155,958 | +65.7% |
| Furniture and vehicles | 24 | €36,794 | €3,440 | -€33,354 | -90.6% |
| Other tangible fixed assets | 26 | €42,996 | €50,378 | +€7,382 | +17.2% |
| Current assets | 29/58 | €134,850 | €104,096 | -€30,754 | -22.8% |
| Stocks and contracts in progress | 3 | - | €10,301 | +€10,301 | |
| Stocks | 30/36 | - | €10,301 | +€10,301 | |
| Amounts receivable within one year | 40/41 | €91,285 | €26,122 | -€65,164 | -71.4% |
| Trade receivables | 40 | €75,600 | €10,699 | -€64,901 | -85.8% |
| Other amounts receivable | 41 | €15,685 | €15,422 | -€263 | -1.7% |
| Cash at bank and in hand | 54/58 | €43,565 | €66,801 | +€23,236 | +53.3% |
| Deferred charges and accrued income | 490/1 | - | €873 | +€873 | |
| Total equity and liabilities | 10/49 | €475,890 | €643,097 | +€167,207 | +35.1% |
| Equity | 10/15 | €32,201 | €127,594 | +€95,393 | +296% |
| Contributions | 10/11 | €18,600 | €168,600 | +€150,000 | +806% |
| Reserves | 13 | €120 | €120 | = | 0.0% |
| Non-distributable reserves | 130/1 | €120 | €120 | = | 0.0% |
| Reserves not available under the articles | 1311 | €120 | €120 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,481 | -€41,126 | -€54,607 | |
| Amounts payable | 17/49 | €443,689 | €515,503 | +€71,814 | +16.2% |
| Amounts payable after more than one year | 17 | €69,160 | €50,356 | -€18,804 | -27.2% |
| Financial debts | 170/4 | €69,160 | €50,356 | -€18,804 | -27.2% |
| Amounts payable within one year | 42/48 | €374,529 | €460,730 | +€86,202 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | €170,242 | €20,681 | -€149,560 | -87.9% |
| Trade debts | 44 | €97,867 | €72,543 | -€25,324 | -25.9% |
| Suppliers | 440/4 | €97,867 | €72,543 | -€25,324 | -25.9% |
| Advances received on contracts in progress | 46 | €43,000 | €25,994 | -€17,006 | -39.5% |
| Taxes, remuneration and social security | 45 | €15,487 | €140,304 | +€124,817 | +806% |
| Taxes | 450/3 | €11,591 | €51,850 | +€40,259 | +347% |
| Remuneration and social security | 454/9 | €3,896 | €88,454 | +€84,558 | +2,170% |
| Other amounts payable | 47/48 | €47,933 | €201,208 | +€153,275 | +320% |
| Accrued charges and deferred income | 492/3 | - | €4,416 | +€4,416 | |
| Remuneration, social security and pensions | 62 | €21,209 | €398,663 | +€377,453 | +1,780% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,695 | €59,005 | +€43,310 | +276% |
| Other operating charges | 640/8 | €1,394 | €16,652 | +€15,258 | +1,095% |
| Non-recurring operating charges | 66A | €5,940 | €0 | -€5,940 | -100% |
| Gross operating margin | 9900 | €59,507 | €471,502 | +€411,995 | +692% |
| Operating profit (loss) | 9901 | €15,268 | -€2,818 | -€18,086 | |
| Financial income | 75/76B | €59 | €0 | -€59 | -99.3% |
| Recurring financial income | 75 | €59 | €0 | -€59 | -99.3% |
| Financial charges | 65/66B | €6,238 | €51,460 | +€45,222 | +725% |
| Recurring financial charges | 65 | €6,238 | €51,460 | +€45,222 | +725% |
| Profit (loss) for the period before taxes | 9903 | €9,089 | -€54,278 | -€63,367 | |
| Income taxes | 67/77 | €3,541 | €329 | -€3,211 | -90.7% |
| Profit (loss) for the period | 9904 | €5,548 | -€54,607 | -€60,156 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,548 | -€54,607 | -€60,156 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.