HIEL: 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
HIEL
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3,473
2024 · -€3,274-€199
Equity
€700,159
2024 · €703,632-€3,473
Cash
€272
2024 · €2,288-€2,015
Balance sheet total
€1.0m
2024 · €1.0m-€24,094
Largest movements
Assets
- Tangible fixed assets -€24,110
down €24,110 (-4.9%), from €492,030 to €467,920
Equity and liabilities
- Other debts -€21,196
down €21,196 (-7.7%), from €276,327 to €255,131
Income statement
- Gross operating margin -€307
down €307 (-1.2%), from €25,270 to €24,963
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
-€3,274
Gross operating margin
-€307
Other operating charges
-€24
Financial charges
-€29
Taxes
+€162
Result 2025
-€3,473
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
-€2,015
Investment
€0
Financing
€0
Cash 2024
€2,288
From operations (derived)
-€2,015
Net result for the year
-€3,473
Depreciation
+€24,110
Receivables within one year
-€2,031
Provisions
-€2,874
Trade debts
+€3,136
Tax, wage and social debts
+€213
Other debts
-€21,196
Accrued charges and deferred income
+€100
Cash 2025
€272
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,036,876 | €1,012,782 | -€24,094 | -2.3% |
| Fixed assets | 21/28 | €492,030 | €467,920 | -€24,110 | -4.9% |
| Tangible fixed assets | 22/27 | €492,030 | €467,920 | -€24,110 | -4.9% |
| Land and buildings | 22 | €492,030 | €467,920 | -€24,110 | -4.9% |
| Current assets | 29/58 | €544,846 | €544,862 | +€16 | 0.0% |
| Amounts receivable within one year | 40/41 | €350,002 | €352,033 | +€2,031 | +0.6% |
| Trade receivables | 40 | €0 | €2,033 | +€2,033 | |
| Other amounts receivable | 41 | €350,002 | €350,000 | -€2 | 0.0% |
| Cash at bank and in hand | 54/58 | €2,288 | €272 | -€2,015 | -88.1% |
| Deferred charges and accrued income | 490/1 | €192,556 | €192,556 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,036,876 | €1,012,782 | -€24,094 | -2.3% |
| Equity | 10/15 | €703,632 | €700,159 | -€3,473 | -0.5% |
| Contributions | 10/11 | €130,144 | €130,144 | = | 0.0% |
| Reserves | 13 | €573,487 | €570,015 | -€3,473 | -0.6% |
| Tax-exempt reserves | 132 | €155,187 | €146,565 | -€8,621 | -5.6% |
| Distributable reserves | 133 | €418,301 | €423,449 | +€5,149 | +1.2% |
| Provisions and deferred taxes | 16 | €51,729 | €48,855 | -€2,874 | -5.6% |
| Deferred taxes | 168 | €51,729 | €48,855 | -€2,874 | -5.6% |
| Amounts payable | 17/49 | €281,515 | €263,768 | -€17,747 | -6.3% |
| Amounts payable within one year | 42/48 | €279,065 | €261,218 | -€17,847 | -6.4% |
| Trade debts | 44 | €0 | €3,136 | +€3,136 | |
| Suppliers | 440/4 | €0 | €3,136 | +€3,136 | |
| Taxes, remuneration and social security | 45 | €2,738 | €2,951 | +€213 | +7.8% |
| Taxes | 450/3 | €2,738 | €2,951 | +€213 | +7.8% |
| Other amounts payable | 47/48 | €276,327 | €255,131 | -€21,196 | -7.7% |
| Accrued charges and deferred income | 492/3 | €2,450 | €2,550 | +€100 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,110 | €24,110 | = | 0.0% |
| Other operating charges | 640/8 | €4,471 | €4,496 | +€24 | +0.5% |
| Gross operating margin | 9900 | €25,270 | €24,963 | -€307 | -1.2% |
| Operating profit (loss) | 9901 | -€3,311 | -€3,643 | -€332 | -10.0% |
| Financial charges | 65/66B | €98 | €127 | +€29 | +29.5% |
| Recurring financial charges | 65 | €98 | €127 | +€29 | +29.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,409 | -€3,770 | -€361 | -10.6% |
| Transfer from deferred taxes | 780 | €2,874 | €2,874 | = | 0.0% |
| Income taxes | 67/77 | €2,738 | €2,577 | -€162 | -5.9% |
| Profit (loss) for the period | 9904 | -€3,274 | -€3,473 | -€199 | -6.1% |
| Transfer from tax-exempt reserves | 789 | €8,621 | €8,621 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,348 | €5,149 | -€199 | -3.7% |
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 6 October 2026 via checked.be.