Heating & Renovations: 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.
Heating & Renovations
Largest movements
- Cash +€18,475
up €18,475 (+75.6%), from €24,423 to €42,898
mainly Net result for the year (+€32,212) and Tax, wage and social debts (+€8,479)
- Receivables within one year +€7,112
up €7,112 (+37.6%), from €18,910 to €26,022
of which Trade receivables: +€6,559
- Tangible fixed assets +€4,889
new in 2025: €4,889
of which Plant, machinery and equipment: +€4,194
- Profit (loss) carried forward +€32,212
up €32,212 (+324%), from €9,944 to €42,156
- Tax, wage and social debts +€8,479
up €8,479 (+424%), from €2,000 to €10,479
- Other debts -€7,584
down €7,584 (-53.8%), from €14,084 to €6,500
- Trade debts -€2,240
down €2,240 (-15.1%), from €14,806 to €12,566
- Gross operating margin +€16,188
up €16,188 (+62.7%), from €25,802 to €41,990
- Taxes +€6,429
up €6,429 (+321%), from €2,000 to €8,429
- Depreciation +€430
new in 2025: €430
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 | €43,334 | €74,201 | +€30,867 | +71.2% |
| Fixed assets | 21/28 | - | €4,889 | +€4,889 | |
| Tangible fixed assets | 22/27 | - | €4,889 | +€4,889 | |
| Plant, machinery and equipment | 23 | - | €4,194 | +€4,194 | |
| Furniture and vehicles | 24 | - | €695 | +€695 | |
| Current assets | 29/58 | €43,334 | €69,311 | +€25,978 | +59.9% |
| Amounts receivable within one year | 40/41 | €18,910 | €26,022 | +€7,112 | +37.6% |
| Trade receivables | 40 | €14,114 | €20,673 | +€6,559 | +46.5% |
| Other amounts receivable | 41 | €4,796 | €5,349 | +€553 | +11.5% |
| Cash at bank and in hand | 54/58 | €24,423 | €42,898 | +€18,475 | +75.6% |
| Deferred charges and accrued income | 490/1 | - | €391 | +€391 | |
| Total equity and liabilities | 10/49 | €43,334 | €74,201 | +€30,867 | +71.2% |
| Equity | 10/15 | €12,444 | €44,656 | +€32,212 | +259% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Capital | 10 | €2,500 | €2,500 | = | 0.0% |
| Issued capital | 100 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,944 | €42,156 | +€32,212 | +324% |
| Amounts payable | 17/49 | €30,890 | €29,545 | -€1,345 | -4.4% |
| Amounts payable within one year | 42/48 | €30,890 | €29,545 | -€1,345 | -4.4% |
| Trade debts | 44 | €14,806 | €12,566 | -€2,240 | -15.1% |
| Suppliers | 440/4 | €14,806 | €12,566 | -€2,240 | -15.1% |
| Taxes, remuneration and social security | 45 | €2,000 | €10,479 | +€8,479 | +424% |
| Taxes | 450/3 | €2,000 | €10,479 | +€8,479 | +424% |
| Other amounts payable | 47/48 | €14,084 | €6,500 | -€7,584 | -53.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €430 | +€430 | |
| Other operating charges | 640/8 | €857 | €920 | +€63 | +7.3% |
| Gross operating margin | 9900 | €25,802 | €41,990 | +€16,188 | +62.7% |
| Operating profit (loss) | 9901 | €24,945 | €40,641 | +€15,696 | +62.9% |
| Financial charges | 65/66B | €1 | €0 | -€1 | -88.2% |
| Recurring financial charges | 65 | €1 | €0 | -€1 | -88.2% |
| Profit (loss) for the period before taxes | 9903 | €24,944 | €40,641 | +€15,697 | +62.9% |
| Income taxes | 67/77 | €2,000 | €8,429 | +€6,429 | +321% |
| Profit (loss) for the period | 9904 | €22,944 | €32,212 | +€9,268 | +40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,944 | €32,212 | +€9,268 | +40.4% |
Source: filed annual accounts (NBB), financial years ended 2 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.