HEADZ: 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.
HEADZ
Largest movements
- Cash -€3,587
down €3,587 (-20.9%), from €17,151 to €13,564
mainly Tax, wage and social debts (-€7,901) and Trade debts (-€6,353)
- Tangible fixed assets -€1,577
down €1,577 (-41.4%), from €3,812 to €2,235
- Receivables within one year -€610
down €610 (-11.5%), from €5,315 to €4,705
of which Trade receivables: -€5,165
- Tax, wage and social debts -€7,901
down €7,901 (-45.4%), from €17,421 to €9,520
of which Taxes: -€9,692
- Trade debts -€6,353
down €6,353 (-96.1%), from €6,613 to €260
- Reserves +€6,140
up €6,140 (+37.7%), from €16,301 to €22,441
of which Distributable reserves: +€8,000
- Contributions +€1,860
up €1,860 (+30.0%), from €6,200 to €8,060
- Profit (loss) carried forward +€490
up €490 (+2.7%), from -€17,872 to -€17,381
- Gross operating margin +€3,674
up €3,674 (+25.0%), from €14,710 to €18,383
- Taxes +€3,235
up €3,235 (+194.7%), from €1,661 to €4,896
- Staff costs +€771
new in 2025: €771
- Other operating charges -€756
down €756 (-48.1%), from €1,572 to €815
- Depreciation +€657
up €657 (+71.4%), from €920 to €1,577
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 | €28,892 | €22,900 | -€5,992 | -20.7% |
| Fixed assets | 21/28 | €3,812 | €2,235 | -€1,577 | -41.4% |
| Tangible fixed assets | 22/27 | €3,812 | €2,235 | -€1,577 | -41.4% |
| Land and buildings | 22 | €3,812 | €2,235 | -€1,577 | -41.4% |
| Current assets | 29/58 | €25,080 | €20,665 | -€4,415 | -17.6% |
| Stocks and contracts in progress | 3 | €2,562 | €2,396 | -€166 | -6.5% |
| Stocks | 30/36 | €2,562 | €2,396 | -€166 | -6.5% |
| Amounts receivable within one year | 40/41 | €5,315 | €4,705 | -€610 | -11.5% |
| Trade receivables | 40 | €5,165 | - | -€5,165 | |
| Other amounts receivable | 41 | €150 | €4,705 | +€4,555 | +3036.5% |
| Cash at bank and in hand | 54/58 | €17,151 | €13,564 | -€3,587 | -20.9% |
| Deferred charges and accrued income | 490/1 | €52 | - | -€52 | |
| Total equity and liabilities | 10/49 | €28,892 | €22,900 | -€5,992 | -20.7% |
| Equity | 10/15 | €4,630 | €13,120 | +€8,490 | +183.4% |
| Contributions | 10/11 | €6,200 | €8,060 | +€1,860 | +30.0% |
| Reserves | 13 | €16,301 | €22,441 | +€6,140 | +37.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €151 | €151 | = | 0.0% |
| Distributable reserves | 133 | €14,290 | €22,290 | +€8,000 | +56.0% |
| Profit (loss) carried forward | 14 | -€17,872 | -€17,381 | +€490 | +2.7% |
| Amounts payable | 17/49 | €24,262 | €9,780 | -€14,482 | -59.7% |
| Amounts payable within one year | 42/48 | €24,262 | €9,780 | -€14,482 | -59.7% |
| Trade debts | 44 | €6,613 | €260 | -€6,353 | -96.1% |
| Suppliers | 440/4 | €6,613 | €260 | -€6,353 | -96.1% |
| Taxes, remuneration and social security | 45 | €17,421 | €9,520 | -€7,901 | -45.4% |
| Taxes | 450/3 | €14,696 | €5,003 | -€9,692 | -66.0% |
| Remuneration and social security | 454/9 | €2,725 | €4,516 | +€1,791 | +65.7% |
| Other amounts payable | 47/48 | €228 | - | -€228 | |
| Remuneration, social security and pensions | 62 | - | €771 | +€771 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €920 | €1,577 | +€657 | +71.4% |
| Other operating charges | 640/8 | €1,572 | €815 | -€756 | -48.1% |
| Gross operating margin | 9900 | €14,710 | €18,383 | +€3,674 | +25.0% |
| Operating profit (loss) | 9901 | €12,218 | €15,220 | +€3,002 | +24.6% |
| Financial income | 75/76B | - | €23 | +€23 | |
| Recurring financial income | 75 | - | €23 | +€23 | |
| Financial charges | 65/66B | €2,017 | €1,857 | -€160 | -7.9% |
| Recurring financial charges | 65 | €2,017 | €1,857 | -€160 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €10,201 | €13,386 | +€3,185 | +31.2% |
| Income taxes | 67/77 | €1,661 | €4,896 | +€3,235 | +194.7% |
| Profit (loss) for the period | 9904 | €8,540 | €8,490 | -€50 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,540 | €8,490 | -€50 | -0.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.