HEVEKO: 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.
HEVEKO
Largest movements
- Cash -€12,672
down €12,672 (-25.9%), from €48,875 to €36,203
mainly Deferred charges and accrued income (-€10,998) and Investment in fixed assets (net) (-€8,426)
- Deferred charges and accrued income +€10,998
up €10,998 (+20,212%), from €54 to €11,052
- Tangible fixed assets +€7,287
up €7,287 (+3.7%), from €196,134 to €203,421
of which Land and buildings: +€7,429
- Profit (loss) carried forward +€6,113
up €6,113 (+5.7%), from -€106,401 to -€100,288
- Gross operating margin -€5,084
down €5,084 (-17.6%), from €28,933 to €23,850
- Depreciation -€1,998
down €1,998 (-63.7%), from €3,136 to €1,139
- Other operating charges +€511
up €511 (+3.2%), from €16,042 to €16,553
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 | €245,410 | €251,023 | +€5,613 | +2.3% |
| Fixed assets | 21/28 | €196,481 | €203,768 | +€7,287 | +3.7% |
| Tangible fixed assets | 22/27 | €196,134 | €203,421 | +€7,287 | +3.7% |
| Land and buildings | 22 | €195,433 | €202,862 | +€7,429 | +3.8% |
| Plant, machinery and equipment | 23 | €701 | €559 | -€142 | -20.2% |
| Financial fixed assets | 28 | €347 | €347 | = | 0.0% |
| Current assets | 29/58 | €48,929 | €47,255 | -€1,674 | -3.4% |
| Cash at bank and in hand | 54/58 | €48,875 | €36,203 | -€12,672 | -25.9% |
| Deferred charges and accrued income | 490/1 | €54 | €11,052 | +€10,998 | +20,212% |
| Total equity and liabilities | 10/49 | €245,410 | €251,023 | +€5,613 | +2.3% |
| Equity | 10/15 | €234,452 | €240,565 | +€6,113 | +2.6% |
| Contributions | 10/11 | €309,867 | €309,867 | = | 0.0% |
| Capital | 10 | €309,867 | €309,867 | = | 0.0% |
| Issued capital | 100 | €309,867 | €309,867 | = | 0.0% |
| Reserves | 13 | €30,987 | €30,987 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,987 | €30,987 | = | 0.0% |
| Legal reserve | 130 | €30,987 | €30,987 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,401 | -€100,288 | +€6,113 | +5.7% |
| Amounts payable | 17/49 | €10,958 | €10,458 | -€500 | -4.6% |
| Amounts payable within one year | 42/48 | €10,958 | €10,458 | -€500 | -4.6% |
| Trade debts | 44 | €500 | €0 | -€500 | -100% |
| Suppliers | 440/4 | €500 | €0 | -€500 | -100% |
| Other amounts payable | 47/48 | €10,458 | €10,458 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,136 | €1,139 | -€1,998 | -63.7% |
| Other operating charges | 640/8 | €16,042 | €16,553 | +€511 | +3.2% |
| Gross operating margin | 9900 | €28,933 | €23,850 | -€5,084 | -17.6% |
| Operating profit (loss) | 9901 | €9,755 | €6,158 | -€3,597 | -36.9% |
| Financial charges | 65/66B | €47 | €45 | -€2 | -3.9% |
| Recurring financial charges | 65 | €47 | €45 | -€2 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €9,708 | €6,113 | -€3,595 | -37.0% |
| Profit (loss) for the period | 9904 | €9,708 | €6,113 | -€3,595 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,708 | €6,113 | -€3,595 | -37.0% |
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 24 October 2026 via checked.be.