HEAT ME: 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 ME
Largest movements
- Receivables within one year -€168,181
down €168,181 (-48.7%), from €345,022 to €176,840
of which Trade receivables: -€166,350
- Cash -€153,754
down €153,754 (-74.7%), from €205,793 to €52,039
mainly Investment in fixed assets (net) (-€193,852) and Net result for the year (-€163,826)
- Intangible fixed assets +€109,583
up €109,583 (+37.9%), from €289,206 to €398,789
- Deferred charges and accrued income -€8,982
down €8,982 (-59.6%), from €15,073 to €6,091
- Profit (loss) carried forward -€163,826
down €163,826, from €92,108 to -€71,718
- Short-term financial debts +€100,000
new in 2025: €100,000
- Debts after one year -€60,408
down €60,408 (-35.4%), from €170,729 to €110,321
- Advances received -€38,781
down €38,781 (-28.7%), from €135,060 to €96,279
- Trade debts -€30,735
down €30,735 (-16.5%), from €186,217 to €155,482
- Staff costs +€44,208
up €44,208 (+17.2%), from €257,125 to €301,333
- Depreciation -€13,852
down €13,852 (-13.6%), from €101,497 to €87,645
- Financial charges +€6,879
up €6,879 (+52.3%), from €13,148 to €20,027
- Other operating charges +€6,301
up €6,301 (+112.3%), from €5,613 to €11,914
- Financial income -€5,239
down €5,239 (-39.6%), from €13,230 to €7,992
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 | €867,626 | €647,273 | -€220,352 | -25.4% |
| Fixed assets | 21/28 | €300,348 | €406,555 | +€106,207 | +35.4% |
| Intangible fixed assets | 21 | €289,206 | €398,789 | +€109,583 | +37.9% |
| Tangible fixed assets | 22/27 | €11,142 | €7,766 | -€3,376 | -30.3% |
| Furniture and vehicles | 24 | €11,142 | €7,766 | -€3,376 | -30.3% |
| Current assets | 29/58 | €567,278 | €240,719 | -€326,560 | -57.6% |
| Stocks and contracts in progress | 3 | €1,391 | €5,748 | +€4,357 | +313.2% |
| Stocks | 30/36 | €1,391 | €5,748 | +€4,357 | +313.2% |
| Amounts receivable within one year | 40/41 | €345,022 | €176,840 | -€168,181 | -48.7% |
| Trade receivables | 40 | €314,448 | €148,099 | -€166,350 | -52.9% |
| Other amounts receivable | 41 | €30,573 | €28,742 | -€1,832 | -6.0% |
| Cash at bank and in hand | 54/58 | €205,793 | €52,039 | -€153,754 | -74.7% |
| Deferred charges and accrued income | 490/1 | €15,073 | €6,091 | -€8,982 | -59.6% |
| Total equity and liabilities | 10/49 | €867,626 | €647,273 | -€220,352 | -25.4% |
| Equity | 10/15 | €266,108 | €102,282 | -€163,826 | -61.6% |
| Contributions | 10/11 | €174,000 | €174,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €92,108 | -€71,718 | -€163,826 | |
| Amounts payable | 17/49 | €601,518 | €544,991 | -€56,526 | -9.4% |
| Amounts payable after more than one year | 17 | €170,729 | €110,321 | -€60,408 | -35.4% |
| Financial debts | 170/4 | €170,729 | €110,321 | -€60,408 | -35.4% |
| Amounts payable within one year | 42/48 | €416,243 | €434,670 | +€18,428 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €58,567 | €60,408 | +€1,842 | +3.1% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Other loans | 439 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €186,217 | €155,482 | -€30,735 | -16.5% |
| Suppliers | 440/4 | €186,217 | €155,482 | -€30,735 | -16.5% |
| Advances received on contracts in progress | 46 | €135,060 | €96,279 | -€38,781 | -28.7% |
| Taxes, remuneration and social security | 45 | €36,010 | €22,347 | -€13,663 | -37.9% |
| Taxes | 450/3 | €6,526 | €901 | -€5,625 | -86.2% |
| Remuneration and social security | 454/9 | €29,484 | €21,446 | -€8,038 | -27.3% |
| Other amounts payable | 47/48 | €389 | €154 | -€235 | -60.3% |
| Accrued charges and deferred income | 492/3 | €14,545 | - | -€14,545 | |
| Remuneration, social security and pensions | 62 | €257,125 | €301,333 | +€44,208 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,497 | €87,645 | -€13,852 | -13.6% |
| Other operating charges | 640/8 | €5,613 | €11,914 | +€6,301 | +112.3% |
| Gross operating margin | 9900 | €245,421 | €250,044 | +€4,623 | +1.9% |
| Operating profit (loss) | 9901 | -€118,813 | -€150,847 | -€32,033 | -27.0% |
| Financial income | 75/76B | €13,230 | €7,992 | -€5,239 | -39.6% |
| Recurring financial income | 75 | €13,230 | €7,992 | -€5,239 | -39.6% |
| Financial charges | 65/66B | €13,148 | €20,027 | +€6,879 | +52.3% |
| Recurring financial charges | 65 | €13,148 | €20,027 | +€6,879 | +52.3% |
| Profit (loss) for the period before taxes | 9903 | -€118,731 | -€162,882 | -€44,151 | -37.2% |
| Income taxes | 67/77 | €850 | €944 | +€94 | +11.1% |
| Profit (loss) for the period | 9904 | -€119,581 | -€163,826 | -€44,245 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€119,581 | -€163,826 | -€44,245 | -37.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.