HIEP: 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.
HIEP
Largest movements
- Tangible fixed assets -€10,226
down €10,226 (-3.6%), from €286,823 to €276,597
- Reserves -€9,508
down €9,508 (-2.8%), from €339,594 to €330,086
of which Distributable reserves: -€6,504
- Gross operating margin +€2,633
up €2,633 (+82.8%), from -€3,180 to -€547
- Other operating charges -€933
down €933 (-29.4%), from €3,176 to €2,243
- Financial income -€318
down €318 (-10.4%), from €3,043 to €2,725
- Depreciation -€54
down €54 (-0.5%), from €10,281 to €10,226
- Financial charges -€46
down €46 (-24.5%), from €187 to €141
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 | €420,838 | €408,468 | -€12,370 | -2.9% |
| Fixed assets | 21/28 | €286,823 | €276,597 | -€10,226 | -3.6% |
| Tangible fixed assets | 22/27 | €286,823 | €276,597 | -€10,226 | -3.6% |
| Land and buildings | 22 | €286,823 | €276,597 | -€10,226 | -3.6% |
| Current assets | 29/58 | €134,014 | €131,871 | -€2,144 | -1.6% |
| Amounts receivable within one year | 40/41 | €1,182 | €1,595 | +€413 | +35.0% |
| Other amounts receivable | 41 | €1,182 | €1,595 | +€413 | +35.0% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,466 | €30,124 | -€2,342 | -7.2% |
| Deferred charges and accrued income | 490/1 | €367 | €151 | -€215 | -58.7% |
| Total equity and liabilities | 10/49 | €420,838 | €408,468 | -€12,370 | -2.9% |
| Equity | 10/15 | €407,549 | €398,041 | -€9,508 | -2.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €47,955 | €47,955 | = | 0.0% |
| Reserves | 13 | €339,594 | €330,086 | -€9,508 | -2.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €30,037 | €27,033 | -€3,004 | -10.0% |
| Distributable reserves | 133 | €309,557 | €303,053 | -€6,504 | -2.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €10,012 | €9,011 | -€1,001 | -10.0% |
| Deferred taxes | 168 | €10,012 | €9,011 | -€1,001 | -10.0% |
| Amounts payable | 17/49 | €3,276 | €1,415 | -€1,861 | -56.8% |
| Amounts payable within one year | 42/48 | €3,276 | €1,415 | -€1,861 | -56.8% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,276 | €1,415 | -€1,861 | -56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,281 | €10,226 | -€54 | -0.5% |
| Other operating charges | 640/8 | €3,176 | €2,243 | -€933 | -29.4% |
| Gross operating margin | 9900 | -€3,180 | -€547 | +€2,633 | +82.8% |
| Operating profit (loss) | 9901 | -€16,636 | -€13,016 | +€3,620 | +21.8% |
| Financial income | 75/76B | €3,043 | €2,725 | -€318 | -10.4% |
| Recurring financial income | 75 | €3,043 | €2,725 | -€318 | -10.4% |
| Financial charges | 65/66B | €187 | €141 | -€46 | -24.5% |
| Recurring financial charges | 65 | €187 | €141 | -€46 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | -€13,779 | -€10,431 | +€3,348 | +24.3% |
| Transfer from deferred taxes | 780 | €1,001 | €1,001 | = | 0.0% |
| Income taxes | 67/77 | €58 | €78 | +€20 | +34.4% |
| Profit (loss) for the period | 9904 | -€12,836 | -€9,508 | +€3,328 | +25.9% |
| Transfer from tax-exempt reserves | 789 | €3,004 | €3,004 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,832 | -€6,504 | +€3,328 | +33.8% |
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 21 October 2026 via checked.be.