BART HEYLEN: 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.
BART HEYLEN
Largest movements
- Cash +€22,635
up €22,635 (+148%), from €15,326 to €37,961
mainly Stocks and contracts (+€14,305) and Receivables within one year (+€10,287)
- Stocks and contracts -€14,305
down €14,305 (-28.5%), from €50,243 to €35,938
- Receivables within one year -€10,287
down €10,287 (-6.0%), from €172,447 to €162,159
of which Trade receivables: -€16,002
- Deferred charges and accrued income +€5,863
up €5,863 (+342%), from €1,715 to €7,578
- Tangible fixed assets +€5,791
up €5,791 (+27.9%), from €20,761 to €26,552
of which Land and buildings: +€5,630
- Tax, wage and social debts +€5,490
up €5,490 (+25.1%), from €21,877 to €27,367
of which Taxes: +€5,178
- Trade debts +€5,084
up €5,084 (+40.7%), from €12,481 to €17,565
- Gross operating margin -€34,112
down €34,112 (-24.2%), from €141,065 to €106,952
- Taxes -€8,250
down €8,250 (-77.1%), from €10,696 to €2,446
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €260,491 | €270,187 | +€9,696 | +3.7% |
| Fixed assets | 21/28 | €20,761 | €26,552 | +€5,791 | +27.9% |
| Tangible fixed assets | 22/27 | €20,761 | €26,552 | +€5,791 | +27.9% |
| Land and buildings | 22 | €14,833 | €20,463 | +€5,630 | +38.0% |
| Plant, machinery and equipment | 23 | €2,932 | €2,790 | -€142 | -4.9% |
| Furniture and vehicles | 24 | €2,996 | €3,299 | +€304 | +10.1% |
| Current assets | 29/58 | €239,730 | €243,635 | +€3,905 | +1.6% |
| Stocks and contracts in progress | 3 | €50,243 | €35,938 | -€14,305 | -28.5% |
| Stocks | 30/36 | €50,243 | €35,938 | -€14,305 | -28.5% |
| Amounts receivable within one year | 40/41 | €172,447 | €162,159 | -€10,287 | -6.0% |
| Trade receivables | 40 | €170,147 | €154,145 | -€16,002 | -9.4% |
| Other amounts receivable | 41 | €2,299 | €8,014 | +€5,715 | +249% |
| Cash at bank and in hand | 54/58 | €15,326 | €37,961 | +€22,635 | +148% |
| Deferred charges and accrued income | 490/1 | €1,715 | €7,578 | +€5,863 | +342% |
| Total equity and liabilities | 10/49 | €260,491 | €270,187 | +€9,696 | +3.7% |
| Equity | 10/15 | €226,133 | €225,255 | -€878 | -0.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €213,633 | €212,755 | -€878 | -0.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €213,633 | €212,755 | -€878 | -0.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €34,358 | €44,931 | +€10,574 | +30.8% |
| Amounts payable within one year | 42/48 | €34,358 | €44,931 | +€10,574 | +30.8% |
| Trade debts | 44 | €12,481 | €17,565 | +€5,084 | +40.7% |
| Suppliers | 440/4 | €12,481 | €17,565 | +€5,084 | +40.7% |
| Taxes, remuneration and social security | 45 | €21,877 | €27,367 | +€5,490 | +25.1% |
| Taxes | 450/3 | €8,795 | €13,973 | +€5,178 | +58.9% |
| Remuneration and social security | 454/9 | €13,082 | €13,394 | +€311 | +2.4% |
| Remuneration, social security and pensions | 62 | €82,009 | €80,621 | -€1,388 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,355 | €5,469 | +€114 | +2.1% |
| Other operating charges | 640/8 | €1,169 | €2,563 | +€1,394 | +119% |
| Non-recurring operating charges | 66A | €15,000 | €15,000 | = | 0.0% |
| Gross operating margin | 9900 | €141,065 | €106,952 | -€34,112 | -24.2% |
| Operating profit (loss) | 9901 | €37,532 | €3,300 | -€34,232 | -91.2% |
| Financial income | 75/76B | €175 | €299 | +€123 | +70.4% |
| Recurring financial income | 75 | €175 | €299 | +€123 | +70.4% |
| Financial charges | 65/66B | €1,131 | €2,030 | +€900 | +79.6% |
| Recurring financial charges | 65 | €1,131 | €2,030 | +€900 | +79.6% |
| Profit (loss) for the period before taxes | 9903 | €36,577 | €1,568 | -€35,009 | -95.7% |
| Income taxes | 67/77 | €10,696 | €2,446 | -€8,250 | -77.1% |
| Profit (loss) for the period | 9904 | €25,881 | -€878 | -€26,758 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,881 | -€878 | -€26,758 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.