Dr. M. 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.
Dr. M. Heylen
Largest movements
- Cash -€73,452
down €73,452 (-74.4%), from €98,698 to €25,246
mainly Contributions, distributions and other (-€200,000) and Investment in fixed assets (net) (-€8,684)
- Tangible fixed assets -€9,833
down €9,833 (-21.3%), from €46,247 to €36,414
of which Furniture and vehicles: -€10,289
- Financial fixed assets +€6,885
new in 2024: €6,885
- Receivables within one year +€5,442
up €5,442 (+40.9%), from €13,321 to €18,763
- Deferred charges and accrued income -€4,479
down €4,479 (-64.7%), from €6,920 to €2,441
- Reserves -€195,935
down €195,935 (-85.5%), from €229,196 to €33,261
- Debts after one year +€71,000
new in 2024: €71,000
- Other debts +€50,681
up €50,681 (+1,806%), from €2,807 to €53,488
- Gross operating margin -€79,378
down €79,378 (-85.8%), from €92,468 to €13,090
- Taxes -€16,158
down €16,158 (-90.3%), from €17,900 to €1,742
- Financial income +€5,083
new in 2024: €5,083
- Depreciation +€4,797
up €4,797 (+70.2%), from €6,835 to €11,632
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €235,186 | €159,749 | -€75,437 | -32.1% |
| Fixed assets | 21/28 | €46,247 | €43,299 | -€2,948 | -6.4% |
| Tangible fixed assets | 22/27 | €46,247 | €36,414 | -€9,833 | -21.3% |
| Plant, machinery and equipment | 23 | €1,781 | €2,237 | +€456 | +25.6% |
| Furniture and vehicles | 24 | €44,466 | €34,177 | -€10,289 | -23.1% |
| Financial fixed assets | 28 | - | €6,885 | +€6,885 | |
| Current assets | 29/58 | €188,939 | €116,450 | -€72,489 | -38.4% |
| Amounts receivable within one year | 40/41 | €13,321 | €18,763 | +€5,442 | +40.9% |
| Other amounts receivable | 41 | €13,321 | €18,763 | +€5,442 | +40.9% |
| Current investments | 50/53 | €70,000 | €70,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €98,698 | €25,246 | -€73,452 | -74.4% |
| Deferred charges and accrued income | 490/1 | €6,920 | €2,441 | -€4,479 | -64.7% |
| Total equity and liabilities | 10/49 | €235,186 | €159,749 | -€75,437 | -32.1% |
| Equity | 10/15 | €231,196 | €35,261 | -€195,935 | -84.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €229,196 | €33,261 | -€195,935 | -85.5% |
| Distributable reserves | 133 | €229,196 | €33,261 | -€195,935 | -85.5% |
| Amounts payable | 17/49 | €3,990 | €124,488 | +€120,498 | +3,020% |
| Amounts payable after more than one year | 17 | - | €71,000 | +€71,000 | |
| Financial debts | 170/4 | - | €71,000 | +€71,000 | |
| Amounts payable within one year | 42/48 | €3,990 | €53,488 | +€49,498 | +1,241% |
| Trade debts | 44 | €18 | - | -€18 | |
| Suppliers | 440/4 | €18 | - | -€18 | |
| Taxes, remuneration and social security | 45 | €1,165 | - | -€1,165 | |
| Taxes | 450/3 | €1,165 | - | -€1,165 | |
| Other amounts payable | 47/48 | €2,807 | €53,488 | +€50,681 | +1,806% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,835 | €11,632 | +€4,797 | +70.2% |
| Other operating charges | 640/8 | €314 | €629 | +€315 | +100% |
| Gross operating margin | 9900 | €92,468 | €13,090 | -€79,378 | -85.8% |
| Operating profit (loss) | 9901 | €85,319 | €829 | -€84,490 | -99.0% |
| Financial income | 75/76B | - | €5,083 | +€5,083 | |
| Recurring financial income | 75 | - | €5,083 | +€5,083 | |
| Financial charges | 65/66B | €79 | €105 | +€26 | +32.9% |
| Recurring financial charges | 65 | €79 | €105 | +€26 | +32.9% |
| Profit (loss) for the period before taxes | 9903 | €85,240 | €5,807 | -€79,433 | -93.2% |
| Income taxes | 67/77 | €17,900 | €1,742 | -€16,158 | -90.3% |
| Profit (loss) for the period | 9904 | €67,340 | €4,065 | -€63,275 | -94.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,340 | €4,065 | -€63,275 | -94.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.