DE OUDE HEIHOEF: 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.
What changed
DE OUDE HEIHOEF
NACE 01.430, Raising of horses and other equines
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.2m
2024 · €9,029-€1.2m
Equity
-€1.4m
2024 · -€219,671-€1.2m
Cash
€33,825
2024 · €58,305-€24,480
Balance sheet total
€1.7m
2024 · €2.6m-€862,876
Largest movements
Assets
- Stocks and contracts -€819,200
down €819,200 (-35.4%), from €2.3m to €1.5m
- Receivables within one year -€26,643
down €26,643 (-60.1%), from €44,332 to €17,689
of which Trade receivables: -€21,105
Equity and liabilities
- Profit (loss) carried forward -€1.2m
down €1.2m (-417%), from -€287,871 to -€1.5m
- Other debts +€357,734
up €357,734 (+15.1%), from €2.4m to €2.7m
- Current portion of long-term debt -€49,977
down €49,977 (-48.0%), from €104,092 to €54,115
- Trade debts +€27,396
up €27,396 (+60.9%), from €44,966 to €72,362
Income statement
- Gross operating margin -€1.2m
down €1.2m, from €149,284 to -€1.1m
- Depreciation -€14,219
down €14,219 (-20.7%), from €68,692 to €54,472
- Other operating charges +€14,102
up €14,102 (+301%), from €4,692 to €18,794
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.
Result 2024
€9,029
Gross operating margin
-€1.2m
Staff costs
-€668
Depreciation
+€14,219
Other operating charges
-€14,102
Financial income
+€8,255
Financial charges
+€4,233
Taxes
+€323
Result 2025
-€1.2m
raises the resultlowers the result
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.
From operations
+€91,612
Investment
-€63,209
Financing
-€52,883
Cash 2024
€58,305
From operations (derived)
+€91,612
Net result for the year
-€1.2m
Depreciation
+€54,472
Stocks and contracts
+€819,200
Receivables within one year
+€26,643
Smaller working-capital items
+€3,980
Trade debts
+€27,396
Tax, wage and social debts
+€3,604
Other debts
+€357,734
Investment (derived)
-€63,209
Investment in fixed assets (net)
-€63,209
Financing
-€52,883
Debts after one year
-€2,907
Current portion of long-term debt
-€49,977
Cash 2025
€33,825
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,557,934 | €1,695,059 | -€862,876 | -33.7% |
| Fixed assets | 21/28 | €132,781 | €141,518 | +€8,736 | +6.6% |
| Tangible fixed assets | 22/27 | €132,781 | €141,268 | +€8,486 | +6.4% |
| Plant, machinery and equipment | 23 | €56,457 | €88,330 | +€31,874 | +56.5% |
| Furniture and vehicles | 24 | €42,915 | €25,274 | -€17,641 | -41.1% |
| Other tangible fixed assets | 26 | €33,410 | €27,664 | -€5,746 | -17.2% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €2,425,153 | €1,553,541 | -€871,612 | -35.9% |
| Stocks and contracts in progress | 3 | €2,317,200 | €1,498,000 | -€819,200 | -35.4% |
| Stocks | 30/36 | €2,317,200 | €1,498,000 | -€819,200 | -35.4% |
| Amounts receivable within one year | 40/41 | €44,332 | €17,689 | -€26,643 | -60.1% |
| Trade receivables | 40 | €26,816 | €5,711 | -€21,105 | -78.7% |
| Other amounts receivable | 41 | €17,516 | €11,978 | -€5,538 | -31.6% |
| Cash at bank and in hand | 54/58 | €58,305 | €33,825 | -€24,480 | -42.0% |
| Deferred charges and accrued income | 490/1 | €5,316 | €4,027 | -€1,289 | -24.2% |
| Total equity and liabilities | 10/49 | €2,557,934 | €1,695,059 | -€862,876 | -33.7% |
| Equity | 10/15 | -€219,671 | -€1,421,088 | -€1.2m | -547% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€287,871 | -€1,489,288 | -€1.2m | -417% |
| Amounts payable | 17/49 | €2,777,605 | €3,116,147 | +€338,542 | +12.2% |
| Amounts payable after more than one year | 17 | €100,873 | €97,966 | -€2,907 | -2.9% |
| Financial debts | 170/4 | €96,963 | €94,056 | -€2,907 | -3.0% |
| Trade debts | 175 | €3,910 | €3,910 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,676,639 | €3,015,397 | +€338,757 | +12.7% |
| Current portion of amounts payable after more than one year | 42 | €104,092 | €54,115 | -€49,977 | -48.0% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €44,966 | €72,362 | +€27,396 | +60.9% |
| Suppliers | 440/4 | €44,966 | €72,362 | +€27,396 | +60.9% |
| Taxes, remuneration and social security | 45 | €7,829 | €11,432 | +€3,604 | +46.0% |
| Taxes | 450/3 | €1,524 | €5,168 | +€3,644 | +239% |
| Remuneration and social security | 454/9 | €6,305 | €6,264 | -€40 | -0.6% |
| Other amounts payable | 47/48 | €2,369,753 | €2,727,488 | +€357,734 | +15.1% |
| Accrued charges and deferred income | 492/3 | €93 | €2,784 | +€2,691 | +2,896% |
| Non-recurring operating income | 76A | €826 | - | -€826 | |
| Remuneration, social security and pensions | 62 | €49,844 | €50,512 | +€668 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,692 | €54,472 | -€14,219 | -20.7% |
| Other operating charges | 640/8 | €4,692 | €18,794 | +€14,102 | +301% |
| Gross operating margin | 9900 | €149,284 | -€1,073,423 | -€1.2m | |
| Operating profit (loss) | 9901 | €26,056 | -€1,197,201 | -€1.2m | |
| Financial income | 75/76B | €26 | €8,280 | +€8,255 | +31,995% |
| Recurring financial income | 75 | €26 | €8,280 | +€8,255 | +31,995% |
| Financial charges | 65/66B | €15,733 | €11,500 | -€4,233 | -26.9% |
| Recurring financial charges | 65 | €15,733 | €11,500 | -€4,233 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €10,348 | -€1,200,421 | -€1.2m | |
| Income taxes | 67/77 | €1,319 | €996 | -€323 | -24.5% |
| Profit (loss) for the period | 9904 | €9,029 | -€1,201,418 | -€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €9,029 | -€1,201,418 | -€1.2m |
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 20 October 2026 via checked.be.