HEATING PLUS: what changed
HEATING PLUS
Largest movements
- Tangible fixed assets +€17,106
up €17,106 (+163%), from €10,499 to €27,605
of which Furniture and vehicles: +€19,686
- Cash -€11,413
down €11,413 (-30.4%), from €37,498 to €26,085
mainly Investment in fixed assets (net) (-€23,901) and Net result for the year (-€13,686)
- Receivables within one year -€4,700
down €4,700 (-21.1%), from €22,251 to €17,551
of which Trade receivables: -€3,939
- Deferred charges and accrued income -€2,480
down €2,480 (-21.5%), from €11,564 to €9,083
- Trade debts +€21,660
up €21,660 (+1,298%), from €1,669 to €23,329
- Reserves -€13,686
down €13,686 (-17.9%), from €76,578 to €62,892
- Current portion of long-term debt -€6,818
no longer reported in 2025 (was €6,818)
- Other debts -€2,954
down €2,954 (-99.4%), from €2,970 to €16
- Write-downs -€12,862
down €12,862, from €6,431 to -€6,431
- Gross operating margin +€10,270
up €10,270 (+89.6%), from -€11,466 to -€1,196
- Other operating charges +€6,681
up €6,681 (+281%), from €2,381 to €9,062
- Depreciation -€1,129
down €1,129 (-14.3%), from €7,924 to €6,795
- Financial charges -€258
down €258 (-10.1%), from €2,547 to €2,289
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €95,320 | €93,963 | -€1,358 | -1.4% |
| Fixed assets | 21/28 | €12,704 | €29,810 | +€17,106 | +135% |
| Tangible fixed assets | 22/27 | €10,499 | €27,605 | +€17,106 | +163% |
| Land and buildings | 22 | €2,580 | - | -€2,580 | |
| Furniture and vehicles | 24 | €7,919 | €27,605 | +€19,686 | +249% |
| Financial fixed assets | 28 | €2,205 | €2,205 | = | 0.0% |
| Current assets | 29/58 | €82,616 | €64,152 | -€18,464 | -22.3% |
| Stocks and contracts in progress | 3 | €11,303 | €11,433 | +€130 | +1.2% |
| Stocks | 30/36 | €11,303 | €11,433 | +€130 | +1.2% |
| Amounts receivable within one year | 40/41 | €22,251 | €17,551 | -€4,700 | -21.1% |
| Trade receivables | 40 | €16,613 | €12,674 | -€3,939 | -23.7% |
| Other amounts receivable | 41 | €5,638 | €4,877 | -€761 | -13.5% |
| Cash at bank and in hand | 54/58 | €37,498 | €26,085 | -€11,413 | -30.4% |
| Deferred charges and accrued income | 490/1 | €11,564 | €9,083 | -€2,480 | -21.5% |
| Total equity and liabilities | 10/49 | €95,320 | €93,963 | -€1,358 | -1.4% |
| Equity | 10/15 | €82,778 | €69,092 | -€13,686 | -16.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €76,578 | €62,892 | -€13,686 | -17.9% |
| Distributable reserves | 133 | €76,578 | €62,892 | -€13,686 | -17.9% |
| Amounts payable | 17/49 | €12,542 | €24,871 | +€12,329 | +98.3% |
| Amounts payable within one year | 42/48 | €12,146 | €24,871 | +€12,725 | +105% |
| Current portion of amounts payable after more than one year | 42 | €6,818 | - | -€6,818 | |
| Trade debts | 44 | €1,669 | €23,329 | +€21,660 | +1,298% |
| Suppliers | 440/4 | €1,669 | €23,329 | +€21,660 | +1,298% |
| Taxes, remuneration and social security | 45 | €689 | €1,525 | +€836 | +121% |
| Taxes | 450/3 | €689 | €325 | -€364 | -52.8% |
| Remuneration and social security | 454/9 | - | €1,200 | +€1,200 | |
| Other amounts payable | 47/48 | €2,970 | €16 | -€2,954 | -99.4% |
| Accrued charges and deferred income | 492/3 | €396 | - | -€396 | |
| Non-recurring operating income | 76A | €10,250 | - | -€10,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,924 | €6,795 | -€1,129 | -14.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,431 | -€6,431 | -€12,862 | |
| Other operating charges | 640/8 | €2,381 | €9,062 | +€6,681 | +281% |
| Non-recurring operating charges | 66A | - | €492 | +€492 | |
| Gross operating margin | 9900 | -€11,466 | -€1,196 | +€10,270 | +89.6% |
| Operating profit (loss) | 9901 | -€28,202 | -€11,114 | +€17,088 | +60.6% |
| Financial income | 75/76B | €47 | - | -€47 | |
| Recurring financial income | 75 | €47 | - | -€47 | |
| Financial charges | 65/66B | €2,547 | €2,289 | -€258 | -10.1% |
| Recurring financial charges | 65 | €2,547 | €2,289 | -€258 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€30,702 | -€13,403 | +€17,299 | +56.3% |
| Income taxes | 67/77 | €310 | €284 | -€27 | -8.7% |
| Profit (loss) for the period | 9904 | -€31,012 | -€13,686 | +€17,325 | +55.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,012 | -€13,686 | +€17,325 | +55.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.