HEATH ROAD: 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.
HEATH ROAD
Largest movements
- Cash +€81,621
up €81,621 (+60.3%), from €135,248 to €216,869
mainly Other debts (+€961,157) and Net result for the year (+€403,166)
- Current investments +€50,000
up €50,000 (+110.7%), from €45,187 to €95,187
- Receivables within one year +€48,736
up €48,736 (+31.7%), from €153,908 to €202,644
of which Trade receivables: +€48,747
- Other debts +€961,157
up €961,157 (+1063.8%), from €90,350 to €1.1m
- Reserves -€804,858
down €804,858 (-90.1%), from €893,088 to €88,230
of which Distributable reserves: -€804,858
- Tax, wage and social debts +€24,224
up €24,224 (+51.0%), from €47,523 to €71,747
- Gross operating margin +€126,639
up €126,639 (+27.2%), from €464,792 to €591,431
- Taxes +€32,843
up €32,843 (+33.4%), from €98,301 to €131,144
- Depreciation -€12,421
down €12,421 (-19.3%), from €64,270 to €51,849
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 | €1,048,980 | €1,222,119 | +€173,139 | +16.5% |
| Fixed assets | 21/28 | €712,720 | €705,687 | -€7,033 | -1.0% |
| Tangible fixed assets | 22/27 | €710,025 | €702,992 | -€7,033 | -1.0% |
| Land and buildings | 22 | €679,141 | €641,936 | -€37,205 | -5.5% |
| Plant, machinery and equipment | 23 | €12,547 | €7,132 | -€5,415 | -43.2% |
| Furniture and vehicles | 24 | €18,337 | €10,435 | -€7,902 | -43.1% |
| Other tangible fixed assets | 26 | - | €43,490 | +€43,490 | |
| Financial fixed assets | 28 | €2,695 | €2,695 | = | 0.0% |
| Current assets | 29/58 | €336,259 | €516,431 | +€180,172 | +53.6% |
| Amounts receivable within one year | 40/41 | €153,908 | €202,644 | +€48,736 | +31.7% |
| Trade receivables | 40 | €153,892 | €202,639 | +€48,747 | +31.7% |
| Other amounts receivable | 41 | €16 | €5 | -€11 | -70.8% |
| Current investments | 50/53 | €45,187 | €95,187 | +€50,000 | +110.7% |
| Cash at bank and in hand | 54/58 | €135,248 | €216,869 | +€81,621 | +60.3% |
| Deferred charges and accrued income | 490/1 | €1,916 | €1,731 | -€185 | -9.7% |
| Total equity and liabilities | 10/49 | €1,048,980 | €1,222,119 | +€173,139 | +16.5% |
| Equity | 10/15 | €895,588 | €90,730 | -€804,858 | -89.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €893,088 | €88,230 | -€804,858 | -90.1% |
| Tax-exempt reserves | 132 | €64 | €64 | = | 0.0% |
| Distributable reserves | 133 | €893,024 | €88,166 | -€804,858 | -90.1% |
| Amounts payable | 17/49 | €153,392 | €1,131,389 | +€977,997 | +637.6% |
| Amounts payable within one year | 42/48 | €151,200 | €1,129,139 | +€977,939 | +646.8% |
| Trade debts | 44 | €13,327 | €5,885 | -€7,442 | -55.8% |
| Suppliers | 440/4 | €13,327 | €5,885 | -€7,442 | -55.8% |
| Taxes, remuneration and social security | 45 | €47,523 | €71,747 | +€24,224 | +51.0% |
| Taxes | 450/3 | €47,523 | €71,747 | +€24,224 | +51.0% |
| Other amounts payable | 47/48 | €90,350 | €1,051,506 | +€961,157 | +1063.8% |
| Accrued charges and deferred income | 492/3 | €2,192 | €2,250 | +€58 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,270 | €51,849 | -€12,421 | -19.3% |
| Other operating charges | 640/8 | €4,030 | €3,942 | -€88 | -2.2% |
| Gross operating margin | 9900 | €464,792 | €591,431 | +€126,639 | +27.2% |
| Operating profit (loss) | 9901 | €396,492 | €535,640 | +€139,148 | +35.1% |
| Financial income | 75/76B | €1 | €12 | +€11 | +1118.0% |
| Recurring financial income | 75 | €1 | €12 | +€11 | +1118.0% |
| Financial charges | 65/66B | €359 | €1,342 | +€983 | +274.1% |
| Recurring financial charges | 65 | €359 | €1,342 | +€983 | +274.1% |
| Profit (loss) for the period before taxes | 9903 | €396,135 | €534,310 | +€138,176 | +34.9% |
| Income taxes | 67/77 | €98,301 | €131,144 | +€32,843 | +33.4% |
| Profit (loss) for the period | 9904 | €297,833 | €403,166 | +€105,333 | +35.4% |
| Profit (loss) for the period to be appropriated | 9905 | €297,833 | €403,166 | +€105,333 | +35.4% |
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 8 October 2026 via checked.be.