Heaco: what changed
Heaco
Largest movements
- Receivables within one year +€28,969
up €28,969 (+627%), from €4,619 to €33,588
of which Other amounts receivable: +€24,394
- Cash +€12,254
up €12,254 (+24.4%), from €50,204 to €62,458
mainly Net result for the year (+€30,407) and Tax, wage and social debts (+€6,795)
- Tangible fixed assets -€4,512
down €4,512 (-32.1%), from €14,037 to €9,525
of which Furniture and vehicles: -€2,726
- Stocks and contracts +€4,002
up €4,002 (+267%), from €1,500 to €5,502
- Reserves +€30,407
up €30,407 (+73.7%), from €41,279 to €71,686
- Tax, wage and social debts +€6,795
up €6,795 (+186%), from €3,660 to €10,455
of which Taxes: +€6,781
- Other debts +€2,082
up €2,082 (+12.6%), from €16,495 to €18,576
- Trade debts +€1,429
up €1,429 (+36.4%), from €3,926 to €5,356
- Gross operating margin +€34,026
up €34,026 (+284%), from €11,971 to €45,996
- Taxes +€6,794
up €6,794 (+521%), from €1,305 to €8,099
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,360 | €111,072 | +€40,713 | +57.9% |
| Fixed assets | 21/28 | €14,037 | €9,525 | -€4,512 | -32.1% |
| Tangible fixed assets | 22/27 | €14,037 | €9,525 | -€4,512 | -32.1% |
| Plant, machinery and equipment | 23 | €7,382 | €5,597 | -€1,786 | -24.2% |
| Furniture and vehicles | 24 | €6,655 | €3,929 | -€2,726 | -41.0% |
| Current assets | 29/58 | €56,323 | €101,547 | +€45,225 | +80.3% |
| Stocks and contracts in progress | 3 | €1,500 | €5,502 | +€4,002 | +267% |
| Stocks | 30/36 | €1,500 | €5,502 | +€4,002 | +267% |
| Amounts receivable within one year | 40/41 | €4,619 | €33,588 | +€28,969 | +627% |
| Trade receivables | 40 | €3,212 | €7,787 | +€4,575 | +142% |
| Other amounts receivable | 41 | €1,407 | €25,801 | +€24,394 | +1,734% |
| Cash at bank and in hand | 54/58 | €50,204 | €62,458 | +€12,254 | +24.4% |
| Total equity and liabilities | 10/49 | €70,360 | €111,072 | +€40,713 | +57.9% |
| Equity | 10/15 | €46,279 | €76,686 | +€30,407 | +65.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €41,279 | €71,686 | +€30,407 | +73.7% |
| Distributable reserves | 133 | €41,279 | €71,686 | +€30,407 | +73.7% |
| Amounts payable | 17/49 | €24,081 | €34,387 | +€10,306 | +42.8% |
| Amounts payable within one year | 42/48 | €24,081 | €34,387 | +€10,306 | +42.8% |
| Trade debts | 44 | €3,926 | €5,356 | +€1,429 | +36.4% |
| Suppliers | 440/4 | €3,926 | €5,356 | +€1,429 | +36.4% |
| Taxes, remuneration and social security | 45 | €3,660 | €10,455 | +€6,795 | +186% |
| Taxes | 450/3 | €1,703 | €8,483 | +€6,781 | +398% |
| Remuneration and social security | 454/9 | €1,957 | €1,971 | +€14 | +0.7% |
| Other amounts payable | 47/48 | €16,495 | €18,576 | +€2,082 | +12.6% |
| Non-recurring operating income | 76A | €54 | - | -€54 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,164 | €5,835 | -€329 | -5.3% |
| Other operating charges | 640/8 | €465 | €494 | +€29 | +6.3% |
| Gross operating margin | 9900 | €11,971 | €45,996 | +€34,026 | +284% |
| Operating profit (loss) | 9901 | €5,342 | €39,667 | +€34,325 | +643% |
| Financial income | 75/76B | €7 | €51 | +€44 | +595% |
| Recurring financial income | 75 | €7 | €51 | +€44 | +595% |
| Financial charges | 65/66B | €1,144 | €1,213 | +€69 | +6.0% |
| Recurring financial charges | 65 | €1,144 | €1,213 | +€69 | +6.0% |
| Profit (loss) for the period before taxes | 9903 | €4,205 | €38,506 | +€34,301 | +816% |
| Income taxes | 67/77 | €1,305 | €8,099 | +€6,794 | +521% |
| Profit (loss) for the period | 9904 | €2,900 | €30,407 | +€27,507 | +948% |
| Profit (loss) for the period to be appropriated | 9905 | €2,900 | €30,407 | +€27,507 | +948% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.