HEAL: 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.
HEAL
Largest movements
- Receivables within one year -€73,919
down €73,919 (-28.5%), from €259,198 to €185,279
of which Other amounts receivable: -€38,338
- Cash -€66,834
down €66,834 (-17.3%), from €385,563 to €318,729
mainly Accrued charges and deferred income (-€150,237) and Contributions, distributions and other (-€120,000)
- Tangible fixed assets -€48,995
down €48,995 (-20.5%), from €239,342 to €190,347
of which Furniture and vehicles: -€30,780
- Accrued charges and deferred income -€150,237
no longer reported in 2025 (was €150,237)
- Trade debts -€88,448
down €88,448 (-30.7%), from €287,857 to €199,409
- Reserves +€57,680
up €57,680 (+21.6%), from €267,164 to €324,844
of which Distributable reserves: +€60,534
- Debts after one year -€30,576
down €30,576 (-22.5%), from €135,870 to €105,294
- Other debts +€23,506
up €23,506 (+106%), from €22,139 to €45,645
- Gross operating margin +€166,902
up €166,902 (+201%), from €83,206 to €250,108
- Taxes +€9,438
up €9,438 (+96.2%), from €9,811 to €19,249
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 | €964,276 | €774,448 | -€189,828 | -19.7% |
| Fixed assets | 21/28 | €316,561 | €267,566 | -€48,995 | -15.5% |
| Tangible fixed assets | 22/27 | €239,342 | €190,347 | -€48,995 | -20.5% |
| Land and buildings | 22 | €93,349 | €77,660 | -€15,689 | -16.8% |
| Plant, machinery and equipment | 23 | €5,076 | €2,551 | -€2,525 | -49.7% |
| Furniture and vehicles | 24 | €140,917 | €110,136 | -€30,780 | -21.8% |
| Financial fixed assets | 28 | €77,219 | €77,219 | = | 0.0% |
| Current assets | 29/58 | €647,715 | €506,882 | -€140,833 | -21.7% |
| Amounts receivable within one year | 40/41 | €259,198 | €185,279 | -€73,919 | -28.5% |
| Trade receivables | 40 | €120,860 | €85,279 | -€35,581 | -29.4% |
| Other amounts receivable | 41 | €138,338 | €100,000 | -€38,338 | -27.7% |
| Current investments | 50/53 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €385,563 | €318,729 | -€66,834 | -17.3% |
| Deferred charges and accrued income | 490/1 | €2,954 | €2,872 | -€82 | -2.8% |
| Total equity and liabilities | 10/49 | €964,276 | €774,448 | -€189,828 | -19.7% |
| Equity | 10/15 | €285,764 | €343,444 | +€57,680 | +20.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €267,164 | €324,844 | +€57,680 | +21.6% |
| 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 | €23,031 | €20,176 | -€2,855 | -12.4% |
| Distributable reserves | 133 | €242,274 | €302,808 | +€60,534 | +25.0% |
| Provisions and deferred taxes | 16 | €34,865 | €33,847 | -€1,018 | -2.9% |
| Provisions for liabilities and charges | 160/5 | €26,600 | €26,600 | = | 0.0% |
| Pensions and similar obligations | 160 | €26,600 | €26,600 | = | 0.0% |
| Deferred taxes | 168 | €8,265 | €7,247 | -€1,018 | -12.3% |
| Amounts payable | 17/49 | €643,646 | €397,157 | -€246,489 | -38.3% |
| Amounts payable after more than one year | 17 | €135,870 | €105,294 | -€30,576 | -22.5% |
| Financial debts | 170/4 | €135,870 | €105,294 | -€30,576 | -22.5% |
| Amounts payable within one year | 42/48 | €357,539 | €291,862 | -€65,676 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €41,435 | €30,576 | -€10,859 | -26.2% |
| Trade debts | 44 | €287,857 | €199,409 | -€88,448 | -30.7% |
| Suppliers | 440/4 | €287,857 | €199,409 | -€88,448 | -30.7% |
| Taxes, remuneration and social security | 45 | €6,107 | €16,232 | +€10,125 | +166% |
| Taxes | 450/3 | €6,107 | €16,232 | +€10,125 | +166% |
| Other amounts payable | 47/48 | €22,139 | €45,645 | +€23,506 | +106% |
| Accrued charges and deferred income | 492/3 | €150,237 | - | -€150,237 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,394 | €48,995 | +€600 | +1.2% |
| Other operating charges | 640/8 | €1,773 | €2,046 | +€274 | +15.4% |
| Gross operating margin | 9900 | €83,206 | €250,108 | +€166,902 | +201% |
| Operating profit (loss) | 9901 | €33,039 | €199,068 | +€166,028 | +503% |
| Financial income | 75/76B | €787 | €2,207 | +€1,419 | +180% |
| Recurring financial income | 75 | €787 | €2,207 | +€1,419 | +180% |
| Financial charges | 65/66B | €5,256 | €5,363 | +€107 | +2.0% |
| Recurring financial charges | 65 | €5,256 | €5,363 | +€107 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €28,571 | €195,911 | +€167,340 | +586% |
| Transfer from deferred taxes | 780 | €3,802 | €1,018 | -€2,783 | -73.2% |
| Income taxes | 67/77 | €9,811 | €19,249 | +€9,438 | +96.2% |
| Profit (loss) for the period | 9904 | €22,561 | €177,680 | +€155,118 | +688% |
| Transfer from tax-exempt reserves | 789 | €1,255 | €2,855 | +€1,600 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €23,816 | €180,534 | +€156,718 | +658% |
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 19 October 2026 via checked.be.