HEATIFY: 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.
HEATIFY
Largest movements
- Tangible fixed assets +€137,336
up €137,336 (+17533.2%), from €783 to €138,119
- Cash -€9,935
down €9,935 (-24.3%), from €40,808 to €30,873
mainly Investment in fixed assets (net) (-€138,876) and Stocks and contracts (-€8,051)
- Stocks and contracts +€8,051
new in 2025: €8,051
- Receivables within one year -€4,883
down €4,883 (-100.0%), from €4,883 to €0
of which Other amounts receivable: -€4,883
- Trade debts +€68,670
up €68,670 (+7851.4%), from €875 to €69,544
- Reserves +€54,674
up €54,674 (+322.2%), from €16,968 to €71,642
- Accrued charges and deferred income +€7,829
up €7,829 (+3520.2%), from €222 to €8,051
- Gross operating margin +€36,401
up €36,401 (+182.5%), from €19,943 to €56,344
- Depreciation +€1,328
up €1,328 (+626.4%), from €212 to €1,540
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 | €48,218 | €180,457 | +€132,239 | +274.3% |
| Fixed assets | 21/28 | €783 | €138,119 | +€137,336 | +17533.2% |
| Tangible fixed assets | 22/27 | €783 | €138,119 | +€137,336 | +17533.2% |
| Plant, machinery and equipment | 23 | €783 | €138,119 | +€137,336 | +17533.2% |
| Current assets | 29/58 | €47,435 | €42,338 | -€5,097 | -10.7% |
| Stocks and contracts in progress | 3 | - | €8,051 | +€8,051 | |
| Stocks | 30/36 | - | €8,051 | +€8,051 | |
| Amounts receivable within one year | 40/41 | €4,883 | €0 | -€4,883 | -100.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,883 | €0 | -€4,883 | -100.0% |
| Current investments | 50/53 | €25 | €25 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €40,808 | €30,873 | -€9,935 | -24.3% |
| Deferred charges and accrued income | 490/1 | €1,719 | €3,389 | +€1,670 | +97.1% |
| Total equity and liabilities | 10/49 | €48,218 | €180,457 | +€132,239 | +274.3% |
| Equity | 10/15 | €46,968 | €101,642 | +€54,674 | +116.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €16,968 | €71,642 | +€54,674 | +322.2% |
| Distributable reserves | 133 | €16,968 | €71,642 | +€54,674 | +322.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,250 | €78,815 | +€77,565 | +6205.7% |
| Amounts payable within one year | 42/48 | €1,028 | €70,764 | +€69,736 | +6787.0% |
| Trade debts | 44 | €875 | €69,544 | +€68,670 | +7851.4% |
| Suppliers | 440/4 | €875 | €69,544 | +€68,670 | +7851.4% |
| Taxes, remuneration and social security | 45 | - | €1,066 | +€1,066 | |
| Taxes | 450/3 | - | €1,066 | +€1,066 | |
| Other amounts payable | 47/48 | €153 | €153 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €222 | €8,051 | +€7,829 | +3520.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212 | €1,540 | +€1,328 | +626.4% |
| Other operating charges | 640/8 | €0 | €63 | +€63 | |
| Gross operating margin | 9900 | €19,943 | €56,344 | +€36,401 | +182.5% |
| Operating profit (loss) | 9901 | €19,731 | €54,740 | +€35,009 | +177.4% |
| Financial income | 75/76B | €0 | €1 | +€1 | |
| Recurring financial income | 75 | €0 | €1 | +€1 | |
| Financial charges | 65/66B | €408 | €67 | -€341 | -83.6% |
| Recurring financial charges | 65 | €408 | €67 | -€341 | -83.6% |
| Profit (loss) for the period before taxes | 9903 | €19,322 | €54,674 | +€35,352 | +183.0% |
| Profit (loss) for the period | 9904 | €19,322 | €54,674 | +€35,352 | +183.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,322 | €54,674 | +€35,352 | +183.0% |
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.