Ben Heyns: 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.
Ben Heyns
Largest movements
- Receivables within one year +€46,309
up €46,309 (+64.5%), from €71,745 to €118,055
of which Trade receivables: +€49,747
- Tangible fixed assets -€24,467
down €24,467 (-9.6%), from €254,373 to €229,906
of which Land and buildings: -€16,619
- Cash +€17,889
up €17,889 (+76.4%), from €23,408 to €41,297
mainly Trade debts (+€40,901) and Depreciation (+€24,467)
- Trade debts +€40,901
up €40,901 (+41.8%), from €97,867 to €138,769
- Debts after one year -€9,746
down €9,746 (-7.9%), from €123,286 to €113,541
- Reserves +€6,125
up €6,125 (+4.4%), from €137,860 to €143,985
- Gross operating margin +€31,869
up €31,869 (+18.2%), from €175,461 to €207,330
- Other operating charges -€9,216
down €9,216 (-79.7%), from €11,569 to €2,353
- Staff costs +€3,018
up €3,018 (+1.8%), from €166,515 to €169,532
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 | €388,793 | €426,838 | +€38,045 | +9.8% |
| Fixed assets | 21/28 | €254,373 | €229,906 | -€24,467 | -9.6% |
| Tangible fixed assets | 22/27 | €254,373 | €229,906 | -€24,467 | -9.6% |
| Land and buildings | 22 | €227,115 | €210,496 | -€16,619 | -7.3% |
| Plant, machinery and equipment | 23 | €26,102 | €18,682 | -€7,420 | -28.4% |
| Furniture and vehicles | 24 | €1,156 | €728 | -€428 | -37.0% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €134,420 | €196,932 | +€62,512 | +46.5% |
| Stocks and contracts in progress | 3 | €24,750 | €25,880 | +€1,130 | +4.6% |
| Stocks | 30/36 | €10,450 | €12,380 | +€1,930 | +18.5% |
| Contracts in progress | 37 | €14,300 | €13,500 | -€800 | -5.6% |
| Amounts receivable within one year | 40/41 | €71,745 | €118,055 | +€46,309 | +64.5% |
| Trade receivables | 40 | €42,435 | €92,181 | +€49,747 | +117% |
| Other amounts receivable | 41 | €29,311 | €25,873 | -€3,437 | -11.7% |
| Cash at bank and in hand | 54/58 | €23,408 | €41,297 | +€17,889 | +76.4% |
| Deferred charges and accrued income | 490/1 | €14,517 | €11,700 | -€2,816 | -19.4% |
| Total equity and liabilities | 10/49 | €388,793 | €426,838 | +€38,045 | +9.8% |
| Equity | 10/15 | €156,410 | €162,535 | +€6,125 | +3.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €137,860 | €143,985 | +€6,125 | +4.4% |
| Distributable reserves | 133 | €137,860 | €143,985 | +€6,125 | +4.4% |
| Amounts payable | 17/49 | €232,383 | €264,303 | +€31,920 | +13.7% |
| Amounts payable after more than one year | 17 | €123,286 | €113,541 | -€9,746 | -7.9% |
| Financial debts | 170/4 | €123,286 | €113,541 | -€9,746 | -7.9% |
| Amounts payable within one year | 42/48 | €108,792 | €150,498 | +€41,706 | +38.3% |
| Current portion of amounts payable after more than one year | 42 | €10,280 | €10,547 | +€266 | +2.6% |
| Trade debts | 44 | €97,867 | €138,769 | +€40,901 | +41.8% |
| Suppliers | 440/4 | €97,867 | €138,769 | +€40,901 | +41.8% |
| Taxes, remuneration and social security | 45 | €644 | €1,182 | +€538 | +83.5% |
| Taxes | 450/3 | €644 | €1,182 | +€538 | +83.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €305 | €265 | -€40 | -13.2% |
| Remuneration, social security and pensions | 62 | €166,515 | €169,532 | +€3,018 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,720 | €24,467 | +€747 | +3.1% |
| Other operating charges | 640/8 | €11,569 | €2,353 | -€9,216 | -79.7% |
| Gross operating margin | 9900 | €175,461 | €207,330 | +€31,869 | +18.2% |
| Operating profit (loss) | 9901 | -€26,343 | €10,977 | +€37,320 | |
| Financial income | 75/76B | €1,221 | €1,063 | -€157 | -12.9% |
| Recurring financial income | 75 | €1,221 | €1,063 | -€157 | -12.9% |
| Financial charges | 65/66B | €5,421 | €5,089 | -€332 | -6.1% |
| Recurring financial charges | 65 | €5,421 | €5,089 | -€332 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | -€30,544 | €6,951 | +€37,495 | |
| Income taxes | 67/77 | €231 | €827 | +€596 | +258% |
| Profit (loss) for the period | 9904 | -€30,775 | €6,125 | +€36,900 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,775 | €6,125 | +€36,900 |
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 28 October 2026 via checked.be.