CHRISTINE HEEB: 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.
CHRISTINE HEEB
Largest movements
- Cash +€68,387
up €68,387 (+52.1%), from €131,343 to €199,730
mainly Net result for the year (+€98,243) and Other debts (+€81,756)
- Current investments +€10,006
up €10,006 (+4.0%), from €250,000 to €260,006
- Other debts +€81,756
up €81,756 (+154%), from €53,079 to €134,835
- Tax, wage and social debts -€5,203
down €5,203 (-89.2%), from €5,833 to €630
of which Taxes: -€5,833
- Financial income +€8,844
up €8,844 (+582%), from €1,519 to €10,364
- Gross operating margin -€8,343
down €8,343 (-6.5%), from €128,058 to €119,716
- Taxes -€7,138
down €7,138 (-19.9%), from €35,833 to €28,695
- Depreciation -€4,217
down €4,217 (-68.5%), from €6,156 to €1,939
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €386,009 | €463,937 | +€77,928 | +20.2% |
| Fixed assets | 21/28 | €2,116 | €177 | -€1,939 | -91.6% |
| Tangible fixed assets | 22/27 | €2,116 | €177 | -€1,939 | -91.6% |
| Plant, machinery and equipment | 23 | €612 | €177 | -€435 | -71.1% |
| Furniture and vehicles | 24 | €1,504 | - | -€1,504 | |
| Current assets | 29/58 | €383,894 | €463,760 | +€79,867 | +20.8% |
| Amounts receivable within one year | 40/41 | - | €1,305 | +€1,305 | |
| Other amounts receivable | 41 | - | €1,305 | +€1,305 | |
| Current investments | 50/53 | €250,000 | €260,006 | +€10,006 | +4.0% |
| Cash at bank and in hand | 54/58 | €131,343 | €199,730 | +€68,387 | +52.1% |
| Deferred charges and accrued income | 490/1 | €2,550 | €2,719 | +€169 | +6.6% |
| Total equity and liabilities | 10/49 | €386,009 | €463,937 | +€77,928 | +20.2% |
| Equity | 10/15 | €327,097 | €327,097 | = | 0.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €308,547 | €308,547 | = | 0.0% |
| Distributable reserves | 133 | €308,547 | €308,547 | = | 0.0% |
| Amounts payable | 17/49 | €58,912 | €136,840 | +€77,928 | +132% |
| Amounts payable within one year | 42/48 | €58,912 | €136,840 | +€77,928 | +132% |
| Trade debts | 44 | - | €1,375 | +€1,375 | |
| Suppliers | 440/4 | - | €1,375 | +€1,375 | |
| Taxes, remuneration and social security | 45 | €5,833 | €630 | -€5,203 | -89.2% |
| Taxes | 450/3 | €5,833 | - | -€5,833 | |
| Remuneration and social security | 454/9 | - | €630 | +€630 | |
| Other amounts payable | 47/48 | €53,079 | €134,835 | +€81,756 | +154% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,156 | €1,939 | -€4,217 | -68.5% |
| Other operating charges | 640/8 | €1,377 | €1,202 | -€175 | -12.7% |
| Gross operating margin | 9900 | €128,058 | €119,716 | -€8,343 | -6.5% |
| Operating profit (loss) | 9901 | €120,525 | €116,575 | -€3,951 | -3.3% |
| Financial income | 75/76B | €1,519 | €10,364 | +€8,844 | +582% |
| Recurring financial income | 75 | €1,519 | €10,364 | +€8,844 | +582% |
| Financial charges | 65/66B | €6 | €0 | -€6 | -93.7% |
| Recurring financial charges | 65 | €6 | €0 | -€6 | -93.7% |
| Profit (loss) for the period before taxes | 9903 | €122,038 | €126,938 | +€4,900 | +4.0% |
| Income taxes | 67/77 | €35,833 | €28,695 | -€7,138 | -19.9% |
| Profit (loss) for the period | 9904 | €86,205 | €98,243 | +€12,038 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,205 | €98,243 | +€12,038 | +14.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.