HEART DRIVEN: what changed
Two fiscal 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.
HEART DRIVEN
Largest movements
- Receivables within one year -€25,993
down €25,993 (-30.8%), from €84,403 to €58,409
of which Other amounts receivable: -€28,446
- Tangible fixed assets -€10,709
down €10,709 (-4.5%), from €240,127 to €229,417
of which Land and buildings: -€7,805
- Cash -€9,412
down €9,412 (-63.6%), from €14,810 to €5,398
mainly Contributions, distributions and other (-€54,296) and Debts after one year (-€16,720)
- Reserves -€18,750
down €18,750 (-16.4%), from €114,004 to €95,254
- Debts after one year -€16,720
down €16,720 (-10.1%), from €164,949 to €148,230
- Tax, wage and social debts -€11,379
down €11,379 (-40.7%), from €27,966 to €16,586
- Short-term financial debts +€3,740
new in 2025: €3,740
- Gross operating margin +€13,673
up €13,673 (+26.2%), from €52,157 to €65,830
- Taxes +€1,960
up €1,960 (+17.6%), from €11,148 to €13,108
- Depreciation +€1,251
up €1,251 (+10.7%), from €11,704 to €12,955
- Financial income +€711
up €711 (+24.1%), from €2,946 to €3,657
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 | €340,112 | €294,124 | -€45,988 | -13.5% |
| Fixed assets | 21/28 | €240,127 | €229,417 | -€10,709 | -4.5% |
| Tangible fixed assets | 22/27 | €240,127 | €229,417 | -€10,709 | -4.5% |
| Land and buildings | 22 | €220,859 | €213,054 | -€7,805 | -3.5% |
| Plant, machinery and equipment | 23 | €6,517 | €6,961 | +€444 | +6.8% |
| Furniture and vehicles | 24 | €12,751 | €9,402 | -€3,349 | -26.3% |
| Current assets | 29/58 | €99,985 | €64,706 | -€35,279 | -35.3% |
| Amounts receivable within one year | 40/41 | €84,403 | €58,409 | -€25,993 | -30.8% |
| Trade receivables | 40 | €26,006 | €28,459 | +€2,453 | +9.4% |
| Other amounts receivable | 41 | €58,396 | €29,950 | -€28,446 | -48.7% |
| Cash at bank and in hand | 54/58 | €14,810 | €5,398 | -€9,412 | -63.6% |
| Deferred charges and accrued income | 490/1 | €773 | €899 | +€126 | +16.3% |
| Total equity and liabilities | 10/49 | €340,112 | €294,124 | -€45,988 | -13.5% |
| Equity | 10/15 | €123,004 | €104,254 | -€18,750 | -15.2% |
| Contributions | 10/11 | €9,000 | €9,000 | = | 0.0% |
| Reserves | 13 | €114,004 | €95,254 | -€18,750 | -16.4% |
| Distributable reserves | 133 | €114,004 | €95,254 | -€18,750 | -16.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €217,108 | €189,870 | -€27,238 | -12.5% |
| Amounts payable after more than one year | 17 | €164,949 | €148,230 | -€16,720 | -10.1% |
| Financial debts | 170/4 | €164,949 | €148,230 | -€16,720 | -10.1% |
| Amounts payable within one year | 42/48 | €52,159 | €41,640 | -€10,518 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €16,207 | €16,720 | +€513 | +3.2% |
| Financial debts | 43 | - | €3,740 | +€3,740 | |
| Credit institutions | 430/8 | - | €3,740 | +€3,740 | |
| Trade debts | 44 | €6,320 | €3,094 | -€3,226 | -51.0% |
| Suppliers | 440/4 | €6,320 | €3,094 | -€3,226 | -51.0% |
| Taxes, remuneration and social security | 45 | €27,966 | €16,586 | -€11,379 | -40.7% |
| Taxes | 450/3 | €27,966 | €16,586 | -€11,379 | -40.7% |
| Other amounts payable | 47/48 | €1,666 | €1,500 | -€166 | -10.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €4,936 | €0 | -€4,936 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,704 | €12,955 | +€1,251 | +10.7% |
| Other operating charges | 640/8 | €911 | €769 | -€142 | -15.6% |
| Gross operating margin | 9900 | €52,157 | €65,830 | +€13,673 | +26.2% |
| Operating profit (loss) | 9901 | €39,542 | €52,105 | +€12,564 | +31.8% |
| Financial income | 75/76B | €2,946 | €3,657 | +€711 | +24.1% |
| Recurring financial income | 75 | €2,946 | €3,657 | +€711 | +24.1% |
| Financial charges | 65/66B | €7,543 | €7,108 | -€435 | -5.8% |
| Recurring financial charges | 65 | €7,543 | €7,108 | -€435 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €34,944 | €48,654 | +€13,710 | +39.2% |
| Income taxes | 67/77 | €11,148 | €13,108 | +€1,960 | +17.6% |
| Profit (loss) for the period | 9904 | €23,796 | €35,546 | +€11,750 | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,796 | €35,546 | +€11,750 | +49.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.