LES HETRES: 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.
LES HETRES
Largest movements
- Tangible fixed assets +€333,631
up €333,631 (+57.7%), from €578,025 to €911,656
of which Land and buildings: +€334,258
- Receivables within one year -€21,058
down €21,058 (-67.9%), from €31,000 to €9,942
of which Trade receivables: -€17,658
- Debts after one year +€256,447
up €256,447 (+238%), from €107,733 to €364,180
- Current portion of long-term debt +€25,400
up €25,400 (+60.4%), from €42,060 to €67,460
- Reserves +€25,136
up €25,136 (+8.0%), from €313,992 to €339,128
of which Distributable reserves: +€30,127
- Depreciation +€17,214
up €17,214 (+66.5%), from €25,906 to €43,120
- Gross operating margin +€11,522
up €11,522 (+12.8%), from €90,188 to €101,709
- Financial charges +€5,531
up €5,531 (+98.7%), from €5,603 to €11,134
- Taxes -€2,169
down €2,169 (-13.1%), from €16,619 to €14,450
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 | €627,182 | €928,730 | +€301,548 | +48.1% |
| Fixed assets | 21/28 | €578,113 | €911,744 | +€333,631 | +57.7% |
| Tangible fixed assets | 22/27 | €578,025 | €911,656 | +€333,631 | +57.7% |
| Land and buildings | 22 | €576,390 | €910,648 | +€334,258 | +58.0% |
| Furniture and vehicles | 24 | €1,634 | €1,008 | -€627 | -38.3% |
| Financial fixed assets | 28 | €88 | €88 | = | 0.0% |
| Current assets | 29/58 | €49,070 | €16,987 | -€32,083 | -65.4% |
| Amounts receivable within one year | 40/41 | €31,000 | €9,942 | -€21,058 | -67.9% |
| Trade receivables | 40 | €27,600 | €9,942 | -€17,658 | -64.0% |
| Other amounts receivable | 41 | €3,400 | - | -€3,400 | |
| Cash at bank and in hand | 54/58 | €15,222 | €6,194 | -€9,028 | -59.3% |
| Deferred charges and accrued income | 490/1 | €2,847 | €851 | -€1,996 | -70.1% |
| Total equity and liabilities | 10/49 | €627,182 | €928,730 | +€301,548 | +48.1% |
| Equity | 10/15 | €335,316 | €360,452 | +€25,136 | +7.5% |
| Reserves | 13 | €313,992 | €339,128 | +€25,136 | +8.0% |
| Tax-exempt reserves | 132 | €149,746 | €144,755 | -€4,992 | -3.3% |
| Distributable reserves | 133 | €164,246 | €194,373 | +€30,127 | +18.3% |
| Profit (loss) carried forward | 14 | €21,324 | €21,324 | = | 0.0% |
| Provisions and deferred taxes | 16 | €49,915 | €48,252 | -€1,664 | -3.3% |
| Deferred taxes | 168 | €49,915 | €48,252 | -€1,664 | -3.3% |
| Amounts payable | 17/49 | €241,950 | €520,027 | +€278,076 | +115% |
| Amounts payable after more than one year | 17 | €107,733 | €364,180 | +€256,447 | +238% |
| Financial debts | 170/4 | €107,733 | €364,180 | +€256,447 | +238% |
| Amounts payable within one year | 42/48 | €134,217 | €155,847 | +€21,630 | +16.1% |
| Current portion of amounts payable after more than one year | 42 | €42,060 | €67,460 | +€25,400 | +60.4% |
| Trade debts | 44 | €2,743 | €7,250 | +€4,507 | +164% |
| Suppliers | 440/4 | €2,743 | €7,250 | +€4,507 | +164% |
| Taxes, remuneration and social security | 45 | €10,128 | €5,818 | -€4,310 | -42.6% |
| Taxes | 450/3 | €10,128 | €5,818 | -€4,310 | -42.6% |
| Other amounts payable | 47/48 | €79,287 | €75,319 | -€3,967 | -5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,906 | €43,120 | +€17,214 | +66.5% |
| Other operating charges | 640/8 | €8,544 | €9,534 | +€989 | +11.6% |
| Gross operating margin | 9900 | €90,188 | €101,709 | +€11,522 | +12.8% |
| Operating profit (loss) | 9901 | €55,738 | €49,056 | -€6,682 | -12.0% |
| Financial charges | 65/66B | €5,603 | €11,134 | +€5,531 | +98.7% |
| Recurring financial charges | 65 | €5,603 | €11,134 | +€5,531 | +98.7% |
| Profit (loss) for the period before taxes | 9903 | €50,135 | €37,922 | -€12,214 | -24.4% |
| Transfer from deferred taxes | 780 | €1,664 | €1,664 | = | 0.0% |
| Income taxes | 67/77 | €16,619 | €14,450 | -€2,169 | -13.1% |
| Profit (loss) for the period | 9904 | €35,180 | €25,136 | -€10,044 | -28.6% |
| Transfer from tax-exempt reserves | 789 | €4,992 | €4,992 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,171 | €30,127 | -€10,044 | -25.0% |
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 15 October 2026 via checked.be.