DIRK 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.
DIRK HEYLEN
Largest movements
- Tangible fixed assets -€9,506
down €9,506 (-8.2%), from €115,305 to €105,799
of which Land and buildings: -€5,021
- Receivables within one year +€3,541
up €3,541 (+16.2%), from €21,902 to €25,443
of which Trade receivables: +€3,541
- Other debts -€7,667
down €7,667 (-37.0%), from €20,725 to €13,058
- Debts after one year -€4,245
down €4,245 (-79.9%), from €5,315 to €1,070
- Profit (loss) carried forward +€3,342
up €3,342 (+17.6%), from -€18,978 to -€15,636
- Tax, wage and social debts +€2,255
up €2,255 (+45.1%), from €4,995 to €7,250
- Trade debts +€1,756
up €1,756 (+52.7%), from €3,329 to €5,085
- Gross operating margin -€17,096
down €17,096 (-46.6%), from €36,681 to €19,585
- Taxes +€3,513
up €3,513 (+300%), from €1,172 to €4,685
- Other operating charges +€648
up €648 (+56.4%), from €1,149 to €1,797
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 | €170,682 | €166,183 | -€4,499 | -2.6% |
| Fixed assets | 21/28 | €139,946 | €130,440 | -€9,506 | -6.8% |
| Tangible fixed assets | 22/27 | €115,305 | €105,799 | -€9,506 | -8.2% |
| Land and buildings | 22 | €68,522 | €63,501 | -€5,021 | -7.3% |
| Plant, machinery and equipment | 23 | €141 | - | -€141 | |
| Furniture and vehicles | 24 | €46,642 | €42,298 | -€4,344 | -9.3% |
| Financial fixed assets | 28 | €24,641 | €24,641 | = | 0.0% |
| Current assets | 29/58 | €30,736 | €35,743 | +€5,007 | +16.3% |
| Amounts receivable within one year | 40/41 | €21,902 | €25,443 | +€3,541 | +16.2% |
| Trade receivables | 40 | €6,801 | €10,342 | +€3,541 | +52.1% |
| Other amounts receivable | 41 | €15,101 | €15,101 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,834 | €10,300 | +€1,466 | +16.6% |
| Total equity and liabilities | 10/49 | €170,682 | €166,183 | -€4,499 | -2.6% |
| Equity | 10/15 | €132,133 | €135,475 | +€3,342 | +2.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €138,711 | €138,711 | = | 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% |
| Tax-exempt reserves | 132 | €562 | €562 | = | 0.0% |
| Distributable reserves | 133 | €136,289 | €136,289 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,978 | -€15,636 | +€3,342 | +17.6% |
| Amounts payable | 17/49 | €38,549 | €30,708 | -€7,841 | -20.3% |
| Amounts payable after more than one year | 17 | €5,315 | €1,070 | -€4,245 | -79.9% |
| Financial debts | 170/4 | €5,315 | €1,070 | -€4,245 | -79.9% |
| Amounts payable within one year | 42/48 | €33,234 | €29,638 | -€3,596 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €4,185 | €4,245 | +€60 | +1.4% |
| Trade debts | 44 | €3,329 | €5,085 | +€1,756 | +52.7% |
| Suppliers | 440/4 | €3,329 | €5,085 | +€1,756 | +52.7% |
| Taxes, remuneration and social security | 45 | €4,995 | €7,250 | +€2,255 | +45.1% |
| Taxes | 450/3 | €4,995 | €7,250 | +€2,255 | +45.1% |
| Other amounts payable | 47/48 | €20,725 | €13,058 | -€7,667 | -37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,791 | €9,506 | -€285 | -2.9% |
| Other operating charges | 640/8 | €1,149 | €1,797 | +€648 | +56.4% |
| Gross operating margin | 9900 | €36,681 | €19,585 | -€17,096 | -46.6% |
| Operating profit (loss) | 9901 | €25,741 | €8,282 | -€17,459 | -67.8% |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €311 | €255 | -€56 | -18.0% |
| Recurring financial charges | 65 | €311 | €255 | -€56 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €25,438 | €8,027 | -€17,411 | -68.4% |
| Income taxes | 67/77 | €1,172 | €4,685 | +€3,513 | +300% |
| Profit (loss) for the period | 9904 | €24,266 | €3,342 | -€20,924 | -86.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,266 | €3,342 | -€20,924 | -86.2% |
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 30 October 2026 via checked.be.