Heat Concept: 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.
Heat Concept
Largest movements
- Receivables within one year +€15,097
up €15,097 (+58.7%), from €25,738 to €40,835
of which Trade receivables: +€26,164
- Cash +€14,639
up €14,639 (+60.7%), from €24,132 to €38,771
mainly Net result for the year (+€32,240) and Depreciation (+€7,336)
- Tangible fixed assets -€7,336
down €7,336 (-41.6%), from €17,631 to €10,296
- Reserves +€31,000
up €31,000 (+151%), from €20,500 to €51,500
- Other debts -€11,471
down €11,471 (-94.5%), from €12,137 to €666
- Trade debts +€7,210
up €7,210 (+55.3%), from €13,048 to €20,258
- Debts after one year -€6,480
down €6,480 (-74.7%), from €8,678 to €2,198
- Tax, wage and social debts +€2,503
up €2,503 (+29.7%), from €8,419 to €10,922
- Gross operating margin +€36,153
up €36,153 (+171%), from €21,084 to €57,237
- Taxes +€12,323
up €12,323 (+354%), from €3,477 to €15,800
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 | €71,728 | €95,066 | +€23,338 | +32.5% |
| Fixed assets | 21/28 | €18,031 | €10,696 | -€7,336 | -40.7% |
| Tangible fixed assets | 22/27 | €17,631 | €10,296 | -€7,336 | -41.6% |
| Furniture and vehicles | 24 | €17,631 | €10,296 | -€7,336 | -41.6% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €53,697 | €84,371 | +€30,674 | +57.1% |
| Stocks and contracts in progress | 3 | €3,789 | €4,635 | +€846 | +22.3% |
| Stocks | 30/36 | €3,789 | €4,635 | +€846 | +22.3% |
| Amounts receivable within one year | 40/41 | €25,738 | €40,835 | +€15,097 | +58.7% |
| Trade receivables | 40 | €12,148 | €38,312 | +€26,164 | +215% |
| Other amounts receivable | 41 | €13,590 | €2,523 | -€11,067 | -81.4% |
| Cash at bank and in hand | 54/58 | €24,132 | €38,771 | +€14,639 | +60.7% |
| Deferred charges and accrued income | 490/1 | €37 | €129 | +€92 | +248% |
| Total equity and liabilities | 10/49 | €71,728 | €95,066 | +€23,338 | +32.5% |
| Equity | 10/15 | €23,135 | €54,542 | +€31,407 | +136% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €20,500 | €51,500 | +€31,000 | +151% |
| Distributable reserves | 133 | €20,500 | €51,500 | +€31,000 | +151% |
| Profit (loss) carried forward | 14 | €635 | €1,042 | +€407 | +64.1% |
| Amounts payable | 17/49 | €48,593 | €40,524 | -€8,069 | -16.6% |
| Amounts payable after more than one year | 17 | €8,678 | €2,198 | -€6,480 | -74.7% |
| Financial debts | 170/4 | €8,678 | €2,198 | -€6,480 | -74.7% |
| Amounts payable within one year | 42/48 | €39,914 | €38,326 | -€1,589 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €6,310 | €6,480 | +€170 | +2.7% |
| Trade debts | 44 | €13,048 | €20,258 | +€7,210 | +55.3% |
| Suppliers | 440/4 | €13,048 | €20,258 | +€7,210 | +55.3% |
| Taxes, remuneration and social security | 45 | €8,419 | €10,922 | +€2,503 | +29.7% |
| Taxes | 450/3 | €8,419 | €10,922 | +€2,503 | +29.7% |
| Other amounts payable | 47/48 | €12,137 | €666 | -€11,471 | -94.5% |
| Remuneration, social security and pensions | 62 | €1,175 | €1,273 | +€98 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,435 | €7,336 | -€99 | -1.3% |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €21,084 | €57,237 | +€36,153 | +171% |
| Operating profit (loss) | 9901 | €12,474 | €48,565 | +€36,090 | +289% |
| Financial income | 75/76B | €103 | €0 | -€103 | -100.0% |
| Recurring financial income | 75 | €103 | €0 | -€103 | -100.0% |
| Financial charges | 65/66B | €644 | €525 | -€119 | -18.4% |
| Recurring financial charges | 65 | €644 | €525 | -€119 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €11,933 | €48,040 | +€36,107 | +303% |
| Income taxes | 67/77 | €3,477 | €15,800 | +€12,323 | +354% |
| Profit (loss) for the period | 9904 | €8,456 | €32,240 | +€23,784 | +281% |
| Profit (loss) for the period to be appropriated | 9905 | €8,456 | €32,240 | +€23,784 | +281% |
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 23 October 2026 via checked.be.