Heating Services: what changed
Heating Services
Largest movements
- Cash +€199,270
up €199,270 (+208%), from €95,910 to €295,180
mainly Net result for the year (+€230,781) and Debts after one year (+€120,954)
- Receivables within one year +€40,559
up €40,559 (+22.2%), from €182,858 to €223,417
of which Trade receivables: +€45,555
- Tangible fixed assets -€34,240
down €34,240 (-36.3%), from €94,377 to €60,138
of which Leasing and similar rights: -€24,840
- Stocks and contracts +€19,250
up €19,250 (+21.4%), from €89,963 to €109,213
of which Contracts in progress: +€10,956
- Debts after one year +€120,954
up €120,954 (+384%), from €31,492 to €152,446
of which Other amounts payable: +€142,010
- Short-term financial debts +€60,000
new in 2025: €60,000
- Trade debts +€18,552
up €18,552 (+74.8%), from €24,786 to €43,337
- Tax, wage and social debts +€18,448
up €18,448 (+366%), from €5,042 to €23,490
of which Taxes: +€18,721
- Reserves +€16,644
up €16,644 (+4.6%), from €359,083 to €375,728
- Gross operating margin +€325,016
up €325,016 (+125%), from €260,097 to €585,113
- Taxes +€85,586
up €85,586 (+520%), from €16,451 to €102,037
- Staff costs +€55,154
up €55,154 (+34.6%), from €159,575 to €214,729
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 | €464,619 | €689,457 | +€224,838 | +48.4% |
| Fixed assets | 21/28 | €94,377 | €60,138 | -€34,240 | -36.3% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €94,377 | €60,138 | -€34,240 | -36.3% |
| Plant, machinery and equipment | 23 | €2,477 | €6,319 | +€3,842 | +155% |
| Furniture and vehicles | 24 | €35,217 | €23,289 | -€11,928 | -33.9% |
| Leasing and similar rights | 25 | €45,560 | €20,720 | -€24,840 | -54.5% |
| Other tangible fixed assets | 26 | €11,124 | €9,810 | -€1,314 | -11.8% |
| Current assets | 29/58 | €370,242 | €629,320 | +€259,078 | +70.0% |
| Stocks and contracts in progress | 3 | €89,963 | €109,213 | +€19,250 | +21.4% |
| Stocks | 30/36 | €59,963 | €68,257 | +€8,294 | +13.8% |
| Contracts in progress | 37 | €30,000 | €40,956 | +€10,956 | +36.5% |
| Amounts receivable within one year | 40/41 | €182,858 | €223,417 | +€40,559 | +22.2% |
| Trade receivables | 40 | €69,925 | €115,480 | +€45,555 | +65.1% |
| Other amounts receivable | 41 | €112,933 | €107,937 | -€4,996 | -4.4% |
| Cash at bank and in hand | 54/58 | €95,910 | €295,180 | +€199,270 | +208% |
| Deferred charges and accrued income | 490/1 | €1,510 | €1,510 | = | 0.0% |
| Total equity and liabilities | 10/49 | €464,619 | €689,457 | +€224,838 | +48.4% |
| Equity | 10/15 | €371,483 | €388,128 | +€16,644 | +4.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €359,083 | €375,728 | +€16,644 | +4.6% |
| Distributable reserves | 133 | €359,083 | €375,728 | +€16,644 | +4.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €93,136 | €301,330 | +€208,194 | +224% |
| Amounts payable after more than one year | 17 | €31,492 | €152,446 | +€120,954 | +384% |
| Financial debts | 170/4 | €31,492 | €10,436 | -€21,056 | -66.9% |
| Other amounts payable | 178/9 | - | €142,010 | +€142,010 | |
| Amounts payable within one year | 42/48 | €61,643 | €148,883 | +€87,240 | +142% |
| Current portion of amounts payable after more than one year | 42 | €31,816 | €21,056 | -€10,760 | -33.8% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €24,786 | €43,337 | +€18,552 | +74.8% |
| Suppliers | 440/4 | €24,786 | €43,337 | +€18,552 | +74.8% |
| Taxes, remuneration and social security | 45 | €5,042 | €23,490 | +€18,448 | +366% |
| Taxes | 450/3 | €4,282 | €23,003 | +€18,721 | +437% |
| Remuneration and social security | 454/9 | €760 | €487 | -€273 | -35.9% |
| Other amounts payable | 47/48 | - | €1,000 | +€1,000 | |
| Non-recurring operating income | 76A | €5,437 | €2,607 | -€2,830 | -52.1% |
| Remuneration, social security and pensions | 62 | €159,575 | €214,729 | +€55,154 | +34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,980 | €39,715 | -€2,265 | -5.4% |
| Other operating charges | 640/8 | €2,073 | €2,371 | +€299 | +14.4% |
| Non-recurring operating charges | 66A | - | €250 | +€250 | |
| Gross operating margin | 9900 | €260,097 | €585,113 | +€325,016 | +125% |
| Operating profit (loss) | 9901 | €56,469 | €328,047 | +€271,578 | +481% |
| Financial income | 75/76B | €5,754 | €6,765 | +€1,011 | +17.6% |
| Recurring financial income | 75 | €5,754 | €6,765 | +€1,011 | +17.6% |
| Financial charges | 65/66B | €3,205 | €1,994 | -€1,211 | -37.8% |
| Recurring financial charges | 65 | €3,205 | €1,994 | -€1,211 | -37.8% |
| Profit (loss) for the period before taxes | 9903 | €59,017 | €332,818 | +€273,800 | +464% |
| Income taxes | 67/77 | €16,451 | €102,037 | +€85,586 | +520% |
| Profit (loss) for the period | 9904 | €42,566 | €230,781 | +€188,214 | +442% |
| Profit (loss) for the period to be appropriated | 9905 | €42,566 | €230,781 | +€188,214 | +442% |
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.