HEARTI: 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.
HEARTI
Largest movements
- Cash -€59,951
down €59,951 (-78.7%), from €76,220 to €16,270
mainly Net result for the year (-€49,125) and Trade debts (-€29,565)
- Tangible fixed assets -€27,672
down €27,672 (-5.6%), from €498,583 to €470,911
of which Land and buildings: -€27,017
- Profit (loss) carried forward -€49,125
down €49,125 (-24.5%), from €200,325 to €151,200
- Trade debts -€29,565
down €29,565 (-64.9%), from €45,536 to €15,972
- Debts after one year -€18,213
down €18,213 (-6.0%), from €305,457 to €287,244
- Tax, wage and social debts +€11,391
new in 2025: €11,391
- Gross operating margin -€92,746
down €92,746 (-93.7%), from €98,974 to €6,228
- Taxes -€9,237
down €9,237 (-44.8%), from €20,628 to €11,391
- Other operating charges -€3,918
no longer reported in 2025 (was €3,918)
- Depreciation +€2,340
up €2,340 (+6.7%), from €34,913 to €37,252
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 | €575,341 | €487,449 | -€87,892 | -15.3% |
| Formation expenses | 20 | €538 | €269 | -€269 | -50.0% |
| Fixed assets | 21/28 | €498,583 | €470,911 | -€27,672 | -5.6% |
| Tangible fixed assets | 22/27 | €498,583 | €470,911 | -€27,672 | -5.6% |
| Land and buildings | 22 | €418,768 | €391,751 | -€27,017 | -6.5% |
| Furniture and vehicles | 24 | €2,051 | €1,099 | -€952 | -46.4% |
| Other tangible fixed assets | 26 | €77,764 | €78,061 | +€297 | +0.4% |
| Current assets | 29/58 | €76,220 | €16,270 | -€59,951 | -78.7% |
| Cash at bank and in hand | 54/58 | €76,220 | €16,270 | -€59,951 | -78.7% |
| Total equity and liabilities | 10/49 | €575,341 | €487,449 | -€87,892 | -15.3% |
| Equity | 10/15 | €202,325 | €153,200 | -€49,125 | -24.3% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,325 | €151,200 | -€49,125 | -24.5% |
| Amounts payable | 17/49 | €373,017 | €334,249 | -€38,767 | -10.4% |
| Amounts payable after more than one year | 17 | €305,457 | €287,244 | -€18,213 | -6.0% |
| Financial debts | 170/4 | €305,457 | €287,244 | -€18,213 | -6.0% |
| Amounts payable within one year | 42/48 | €67,560 | €47,006 | -€20,554 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €17,852 | €18,213 | +€362 | +2.0% |
| Trade debts | 44 | €45,536 | €15,972 | -€29,565 | -64.9% |
| Suppliers | 440/4 | €45,536 | €15,972 | -€29,565 | -64.9% |
| Taxes, remuneration and social security | 45 | - | €11,391 | +€11,391 | |
| Taxes | 450/3 | - | €11,391 | +€11,391 | |
| Other amounts payable | 47/48 | €4,172 | €1,430 | -€2,742 | -65.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,913 | €37,252 | +€2,340 | +6.7% |
| Other operating charges | 640/8 | €3,918 | - | -€3,918 | |
| Gross operating margin | 9900 | €98,974 | €6,228 | -€92,746 | -93.7% |
| Operating profit (loss) | 9901 | €60,143 | -€31,024 | -€91,167 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €7,006 | €6,709 | -€297 | -4.2% |
| Recurring financial charges | 65 | €7,006 | €6,709 | -€297 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €53,136 | -€37,733 | -€90,870 | |
| Income taxes | 67/77 | €20,628 | €11,391 | -€9,237 | -44.8% |
| Profit (loss) for the period | 9904 | €32,508 | -€49,125 | -€81,633 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,508 | -€49,125 | -€81,633 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.