HEATREX INSTALLATIONS: 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.
HEATREX INSTALLATIONS
Largest movements
- Cash +€303,812
up €303,812 (+351%), from €86,657 to €390,469
mainly Net result for the year (+€200,674) and Other debts (+€156,474)
- Receivables within one year +€23,402
up €23,402 (+8.4%), from €279,252 to €302,654
of which Trade receivables: +€23,400
- Other debts +€156,474
up €156,474 (+613%), from €25,536 to €182,010
- Trade debts +€85,610
up €85,610 (+30.7%), from €278,431 to €364,041
- Reserves +€50,674
up €50,674 (+256%), from €19,824 to €70,498
- Tax, wage and social debts +€41,781
up €41,781 (+175%), from €23,885 to €65,667
- Accrued charges and deferred income -€7,326
down €7,326 (-55.4%), from €13,232 to €5,906
- Gross operating margin +€238,928
up €238,928 (+786%), from €30,384 to €269,313
- Taxes +€60,283
up €60,283 (+912%), from €6,608 to €66,891
- Depreciation -€2,812
down €2,812 (-100%), from €2,812 to €0
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 | €365,909 | €693,122 | +€327,213 | +89.4% |
| Current assets | 29/58 | €365,909 | €693,122 | +€327,213 | +89.4% |
| Amounts receivable within one year | 40/41 | €279,252 | €302,654 | +€23,402 | +8.4% |
| Trade receivables | 40 | €279,249 | €302,649 | +€23,400 | +8.4% |
| Other amounts receivable | 41 | €3 | €4 | +€2 | +66.7% |
| Cash at bank and in hand | 54/58 | €86,657 | €390,469 | +€303,812 | +351% |
| Total equity and liabilities | 10/49 | €365,909 | €693,122 | +€327,213 | +89.4% |
| Equity | 10/15 | €24,824 | €75,498 | +€50,674 | +204% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €19,824 | €70,498 | +€50,674 | +256% |
| Distributable reserves | 133 | €19,824 | €70,498 | +€50,674 | +256% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €341,085 | €617,624 | +€276,540 | +81.1% |
| Amounts payable within one year | 42/48 | €327,853 | €611,718 | +€283,866 | +86.6% |
| Trade debts | 44 | €278,431 | €364,041 | +€85,610 | +30.7% |
| Suppliers | 440/4 | €278,431 | €364,041 | +€85,610 | +30.7% |
| Taxes, remuneration and social security | 45 | €23,885 | €65,667 | +€41,781 | +175% |
| Taxes | 450/3 | €23,885 | €65,667 | +€41,781 | +175% |
| Other amounts payable | 47/48 | €25,536 | €182,010 | +€156,474 | +613% |
| Accrued charges and deferred income | 492/3 | €13,232 | €5,906 | -€7,326 | -55.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,812 | €0 | -€2,812 | -100% |
| Other operating charges | 640/8 | €384 | €513 | +€129 | +33.5% |
| Gross operating margin | 9900 | €30,384 | €269,313 | +€238,928 | +786% |
| Operating profit (loss) | 9901 | €27,187 | €268,799 | +€241,612 | +889% |
| Financial income | 75/76B | - | €20 | +€20 | |
| Recurring financial income | 75 | - | €20 | +€20 | |
| Financial charges | 65/66B | €755 | €1,255 | +€499 | +66.1% |
| Recurring financial charges | 65 | €755 | €1,255 | +€499 | +66.1% |
| Profit (loss) for the period before taxes | 9903 | €26,432 | €267,565 | +€241,133 | +912% |
| Income taxes | 67/77 | €6,608 | €66,891 | +€60,283 | +912% |
| Profit (loss) for the period | 9904 | €19,824 | €200,674 | +€180,850 | +912% |
| Profit (loss) for the period to be appropriated | 9905 | €19,824 | €200,674 | +€180,850 | +912% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.