HIBEL: 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.
HIBEL
Largest movements
- Tangible fixed assets -€202,596
down €202,596 (-8.4%), from €2.4m to €2.2m
of which Land and buildings: -€193,943
- Financial fixed assets +€100,000
up €100,000 (+63.3%), from €157,979 to €257,979
- Reserves -€103,421
down €103,421 (-16.3%), from €632,816 to €529,395
of which Distributable reserves: -€103,421
- Debts after one year -€47,895
no longer reported in 2025 (was €47,895)
- Financial income -€60,006
down €60,006 (-50.0%), from €120,006 to €60,000
- Gross operating margin -€32,332
down €32,332 (-15.7%), from €205,412 to €173,080
- Taxes -€11,922
down €11,922 (-97.5%), from €12,230 to €308
- Depreciation +€2,103
up €2,103 (+0.9%), from €244,459 to €246,562
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 | €2,689,453 | €2,565,388 | -€124,065 | -4.6% |
| Fixed assets | 21/28 | €2,567,397 | €2,464,801 | -€102,596 | -4.0% |
| Tangible fixed assets | 22/27 | €2,409,418 | €2,206,822 | -€202,596 | -8.4% |
| Land and buildings | 22 | €2,390,461 | €2,196,518 | -€193,943 | -8.1% |
| Furniture and vehicles | 24 | €18,957 | €10,304 | -€8,653 | -45.6% |
| Financial fixed assets | 28 | €157,979 | €257,979 | +€100,000 | +63.3% |
| Current assets | 29/58 | €122,057 | €100,587 | -€21,470 | -17.6% |
| Amounts receivable within one year | 40/41 | €80,127 | €68,119 | -€12,008 | -15.0% |
| Trade receivables | 40 | €65,999 | €48,840 | -€17,159 | -26.0% |
| Other amounts receivable | 41 | €14,129 | €19,280 | +€5,151 | +36.5% |
| Cash at bank and in hand | 54/58 | €34,282 | €24,544 | -€9,738 | -28.4% |
| Deferred charges and accrued income | 490/1 | €7,647 | €7,924 | +€277 | +3.6% |
| Total equity and liabilities | 10/49 | €2,689,453 | €2,565,388 | -€124,065 | -4.6% |
| Equity | 10/15 | €656,866 | €553,445 | -€103,421 | -15.7% |
| Contributions | 10/11 | €24,050 | €24,050 | = | 0.0% |
| Reserves | 13 | €632,816 | €529,395 | -€103,421 | -16.3% |
| Non-distributable reserves | 130/1 | €2,405 | €2,405 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,405 | €2,405 | = | 0.0% |
| Distributable reserves | 133 | €630,411 | €526,990 | -€103,421 | -16.4% |
| Amounts payable | 17/49 | €2,032,587 | €2,011,943 | -€20,644 | -1.0% |
| Amounts payable after more than one year | 17 | €47,895 | - | -€47,895 | |
| Financial debts | 170/4 | €47,895 | - | -€47,895 | |
| Amounts payable within one year | 42/48 | €1,984,115 | €2,010,411 | +€26,297 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €45,870 | €47,895 | +€2,025 | +4.4% |
| Trade debts | 44 | €5,892 | €10,034 | +€4,142 | +70.3% |
| Suppliers | 440/4 | €5,892 | €10,034 | +€4,142 | +70.3% |
| Taxes, remuneration and social security | 45 | €18,675 | €19,138 | +€463 | +2.5% |
| Taxes | 450/3 | €4,744 | €4,744 | = | 0.0% |
| Remuneration and social security | 454/9 | €13,931 | €14,394 | +€463 | +3.3% |
| Other amounts payable | 47/48 | €1,913,678 | €1,933,344 | +€19,666 | +1.0% |
| Accrued charges and deferred income | 492/3 | €577 | €1,531 | +€954 | +165% |
| Remuneration, social security and pensions | 62 | €81,176 | €82,576 | +€1,400 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €244,459 | €246,562 | +€2,103 | +0.9% |
| Other operating charges | 640/8 | €3,442 | €3,458 | +€16 | +0.5% |
| Gross operating margin | 9900 | €205,412 | €173,080 | -€32,332 | -15.7% |
| Operating profit (loss) | 9901 | -€123,665 | -€159,516 | -€35,851 | -29.0% |
| Financial income | 75/76B | €120,006 | €60,000 | -€60,006 | -50.0% |
| Recurring financial income | 75 | €120,006 | €60,000 | -€60,006 | -50.0% |
| Financial charges | 65/66B | €5,530 | €3,597 | -€1,933 | -35.0% |
| Recurring financial charges | 65 | €5,530 | €3,597 | -€1,933 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | -€9,189 | -€103,113 | -€93,923 | -1,022% |
| Income taxes | 67/77 | €12,230 | €308 | -€11,922 | -97.5% |
| Profit (loss) for the period | 9904 | -€21,420 | -€103,421 | -€82,001 | -383% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,420 | -€103,421 | -€82,001 | -383% |
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 14 October 2026 via checked.be.