HECK LOTHAR: 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.
HECK LOTHAR
Largest movements
- Tangible fixed assets -€15,923
down €15,923 (-23.3%), from €68,435 to €52,512
of which Furniture and vehicles: -€15,066
- Receivables within one year +€13,903
up €13,903 (+5.6%), from €248,326 to €262,229
of which Trade receivables: +€21,277
- Financial fixed assets -€10,289
down €10,289 (-23.0%), from €44,702 to €34,413
- Reserves -€27,501
down €27,501 (-17.7%), from €155,770 to €128,269
of which Distributable reserves: -€27,501
- Other debts +€26,795
up €26,795 (+1,360%), from €1,970 to €28,765
- Trade debts +€24,188
up €24,188 (+41.9%), from €57,763 to €81,951
- Debts after one year -€16,925
down €16,925 (-73.9%), from €22,902 to €5,976
- Profit (loss) carried forward -€13,621
down €13,621 (-18.4%), from €74,153 to €60,533
- Financial income -€50,014
down €50,014 (-97.6%), from €51,260 to €1,246
- Staff costs +€26,091
up €26,091 (+424%), from €6,149 to €32,240
- Gross operating margin +€16,186
up €16,186 (+43.8%), from €36,919 to €53,105
- Taxes -€5,609
down €5,609 (-95.6%), from €5,864 to €255
- Depreciation +€4,168
up €4,168 (+29.6%), from €14,087 to €18,255
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 | €384,954 | €367,772 | -€17,182 | -4.5% |
| Fixed assets | 21/28 | €113,137 | €86,925 | -€26,212 | -23.2% |
| Tangible fixed assets | 22/27 | €68,435 | €52,512 | -€15,923 | -23.3% |
| Land and buildings | 22 | €3,536 | €3,121 | -€415 | -11.7% |
| Plant, machinery and equipment | 23 | €7,784 | €7,342 | -€442 | -5.7% |
| Furniture and vehicles | 24 | €57,115 | €42,049 | -€15,066 | -26.4% |
| Financial fixed assets | 28 | €44,702 | €34,413 | -€10,289 | -23.0% |
| Current assets | 29/58 | €271,817 | €280,847 | +€9,030 | +3.3% |
| Stocks and contracts in progress | 3 | €3,880 | €3,274 | -€606 | -15.6% |
| Stocks | 30/36 | €3,880 | €3,274 | -€606 | -15.6% |
| Amounts receivable within one year | 40/41 | €248,326 | €262,229 | +€13,903 | +5.6% |
| Trade receivables | 40 | €168,407 | €189,684 | +€21,277 | +12.6% |
| Other amounts receivable | 41 | €79,919 | €72,545 | -€7,374 | -9.2% |
| Cash at bank and in hand | 54/58 | €15,474 | €13,240 | -€2,234 | -14.4% |
| Deferred charges and accrued income | 490/1 | €4,136 | €2,104 | -€2,033 | -49.1% |
| Total equity and liabilities | 10/49 | €384,954 | €367,772 | -€17,182 | -4.5% |
| Equity | 10/15 | €248,473 | €207,351 | -€41,122 | -16.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €155,770 | €128,269 | -€27,501 | -17.7% |
| Tax-exempt reserves | 132 | €35,614 | €35,614 | = | 0.0% |
| Distributable reserves | 133 | €120,156 | €92,655 | -€27,501 | -22.9% |
| Profit (loss) carried forward | 14 | €74,153 | €60,533 | -€13,621 | -18.4% |
| Amounts payable | 17/49 | €136,481 | €160,421 | +€23,940 | +17.5% |
| Amounts payable after more than one year | 17 | €22,902 | €5,976 | -€16,925 | -73.9% |
| Financial debts | 170/4 | €22,902 | €5,976 | -€16,925 | -73.9% |
| Amounts payable within one year | 42/48 | €113,183 | €154,444 | +€41,261 | +36.5% |
| Current portion of amounts payable after more than one year | 42 | €21,058 | €16,925 | -€4,132 | -19.6% |
| Trade debts | 44 | €57,763 | €81,951 | +€24,188 | +41.9% |
| Suppliers | 440/4 | €57,763 | €81,951 | +€24,188 | +41.9% |
| Taxes, remuneration and social security | 45 | €32,393 | €26,803 | -€5,590 | -17.3% |
| Taxes | 450/3 | €30,916 | €24,341 | -€6,574 | -21.3% |
| Remuneration and social security | 454/9 | €1,477 | €2,461 | +€984 | +66.6% |
| Other amounts payable | 47/48 | €1,970 | €28,765 | +€26,795 | +1,360% |
| Accrued charges and deferred income | 492/3 | €396 | - | -€396 | |
| Remuneration, social security and pensions | 62 | €6,149 | €32,240 | +€26,091 | +424% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,087 | €18,255 | +€4,168 | +29.6% |
| Other operating charges | 640/8 | €15,834 | €13,714 | -€2,120 | -13.4% |
| Gross operating margin | 9900 | €36,919 | €53,105 | +€16,186 | +43.8% |
| Operating profit (loss) | 9901 | €849 | -€11,104 | -€11,953 | |
| Financial income | 75/76B | €51,260 | €1,246 | -€50,014 | -97.6% |
| Recurring financial income | 75 | €51,260 | €1,246 | -€50,014 | -97.6% |
| Financial charges | 65/66B | €2,982 | €3,507 | +€525 | +17.6% |
| Recurring financial charges | 65 | €2,982 | €3,507 | +€525 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | €49,127 | -€13,365 | -€62,492 | |
| Income taxes | 67/77 | €5,864 | €255 | -€5,609 | -95.6% |
| Profit (loss) for the period | 9904 | €43,263 | -€13,621 | -€56,884 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,263 | -€13,621 | -€56,884 |
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 24 October 2026 via checked.be.