Delphine HEUNDERS: 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.
Delphine HEUNDERS
Largest movements
- Cash +€101,687
up €101,687 (+1009.0%), from €10,078 to €111,765
mainly Net result for the year (+€65,875) and Deferred charges and accrued income (+€58,000)
- Deferred charges and accrued income -€58,000
down €58,000 (-53.7%), from €108,000 to €50,000
- Tangible fixed assets -€18,834
down €18,834 (-29.1%), from €64,808 to €45,975
of which Furniture and vehicles: -€18,560
- Current investments -€10,742
down €10,742 (-15.0%), from €71,650 to €60,909
- Receivables within one year +€3,614
new in 2025: €3,614
- Other debts +€30,869
up €30,869 (+13.3%), from €232,395 to €263,264
- Debts after one year -€13,356
down €13,356 (-36.3%), from €36,826 to €23,470
- Gross operating margin -€67,017
down €67,017 (-60.6%), from €110,527 to €43,510
- Financial income +€48,191
up €48,191 (+2212.6%), from €2,178 to €50,369
- Taxes -€16,975
down €16,975 (-72.3%), from €23,471 to €6,496
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.
Cash bridge derived
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 | €304,537 | €322,262 | +€17,726 | +5.8% |
| Fixed assets | 21/28 | €114,808 | €95,975 | -€18,834 | -16.4% |
| Tangible fixed assets | 22/27 | €64,808 | €45,975 | -€18,834 | -29.1% |
| Plant, machinery and equipment | 23 | €273 | - | -€273 | |
| Furniture and vehicles | 24 | €64,535 | €45,975 | -€18,560 | -28.8% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €189,728 | €226,288 | +€36,559 | +19.3% |
| Amounts receivable within one year | 40/41 | - | €3,614 | +€3,614 | |
| Other amounts receivable | 41 | - | €3,614 | +€3,614 | |
| Current investments | 50/53 | €71,650 | €60,909 | -€10,742 | -15.0% |
| Cash at bank and in hand | 54/58 | €10,078 | €111,765 | +€101,687 | +1009.0% |
| Deferred charges and accrued income | 490/1 | €108,000 | €50,000 | -€58,000 | -53.7% |
| Total equity and liabilities | 10/49 | €304,537 | €322,262 | +€17,726 | +5.8% |
| Equity | 10/15 | €21,588 | €21,588 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,988 | €2,988 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,128 | €1,128 | = | 0.0% |
| Amounts payable | 17/49 | €282,949 | €300,675 | +€17,726 | +6.3% |
| Amounts payable after more than one year | 17 | €36,826 | €23,470 | -€13,356 | -36.3% |
| Financial debts | 170/4 | €36,826 | €23,470 | -€13,356 | -36.3% |
| Amounts payable within one year | 42/48 | €246,123 | €277,205 | +€31,082 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €12,838 | €13,356 | +€519 | +4.0% |
| Trade debts | 44 | €157 | €585 | +€427 | +271.7% |
| Suppliers | 440/4 | €157 | €585 | +€427 | +271.7% |
| Taxes, remuneration and social security | 45 | €733 | - | -€733 | |
| Taxes | 450/3 | €733 | - | -€733 | |
| Other amounts payable | 47/48 | €232,395 | €263,264 | +€30,869 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,845 | €18,834 | -€1,012 | -5.1% |
| Other operating charges | 640/8 | €528 | €584 | +€56 | +10.5% |
| Gross operating margin | 9900 | €110,527 | €43,510 | -€67,017 | -60.6% |
| Operating profit (loss) | 9901 | €90,153 | €24,092 | -€66,061 | -73.3% |
| Financial income | 75/76B | €2,178 | €50,369 | +€48,191 | +2212.6% |
| Recurring financial income | 75 | €2,178 | €50,369 | +€48,191 | +2212.6% |
| Financial charges | 65/66B | €2,536 | €2,090 | -€446 | -17.6% |
| Recurring financial charges | 65 | €2,536 | €2,090 | -€446 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €89,795 | €72,372 | -€17,423 | -19.4% |
| Income taxes | 67/77 | €23,471 | €6,496 | -€16,975 | -72.3% |
| Profit (loss) for the period | 9904 | €66,324 | €65,875 | -€449 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €66,324 | €65,875 | -€449 | -0.7% |
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 12 October 2026 via checked.be.