HECKE PARTNERS: 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.
HECKE PARTNERS
Largest movements
- Financial fixed assets +€5.2m
up €5.2m (+435%), from €1.2m to €6.4m
- Current investments -€1.9m
down €1.9m (-63.7%), from €3.1m to €1.1m
- Tangible fixed assets +€570,964
up €570,964 (+17.1%), from €3.3m to €3.9m
of which Land and buildings: +€385,584
- Cash -€157,197
down €157,197 (-88.5%), from €177,699 to €20,502
mainly Investment in fixed assets (net) (-€6.0m) and Accrued charges and deferred income (-€80,974)
- Profit (loss) carried forward +€3.2m
up €3.2m (+218%), from €1.5m to €4.7m
- Debts after one year +€312,661
up €312,661 (+5.1%), from €6.2m to €6.5m
of which Other amounts payable: +€460,628
- Reserves +€168,190
up €168,190 (+47.0%), from €357,828 to €526,018
of which Distributable reserves: +€181,818
- Financial income +€3.5m
up €3.5m (+2,490%), from €139,456 to €3.6m
- Financial charges +€109,444
up €109,444 (+66.4%), from €164,930 to €274,374
- Other operating charges -€104,878
down €104,878 (-71.8%), from €146,062 to €41,184
- Depreciation +€86,762
up €86,762 (+57.7%), from €150,451 to €237,213
- Taxes -€9,519
down €9,519 (-32.6%), from €29,156 to €19,637
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 | €8,938,522 | €12,600,087 | +€3.7m | +41.0% |
| Fixed assets | 21/28 | €4,528,678 | €10,302,205 | +€5.8m | +127% |
| Tangible fixed assets | 22/27 | €3,332,824 | €3,903,788 | +€570,964 | +17.1% |
| Land and buildings | 22 | €3,164,400 | €3,549,984 | +€385,584 | +12.2% |
| Plant, machinery and equipment | 23 | €165,477 | €173,417 | +€7,940 | +4.8% |
| Furniture and vehicles | 24 | €2,947 | €1,516 | -€1,431 | -48.6% |
| Assets under construction and advance payments | 27 | - | €178,871 | +€178,871 | |
| Financial fixed assets | 28 | €1,195,854 | €6,398,417 | +€5.2m | +435% |
| Current assets | 29/58 | €4,409,844 | €2,297,882 | -€2.1m | -47.9% |
| Amounts receivable after more than one year | 29 | €1,143,194 | €1,097,659 | -€45,535 | -4.0% |
| Other amounts receivable | 291 | €1,143,194 | €1,097,659 | -€45,535 | -4.0% |
| Amounts receivable within one year | 40/41 | €501 | €27,314 | +€26,813 | +5,352% |
| Other amounts receivable | 41 | €501 | €27,314 | +€26,813 | +5,352% |
| Current investments | 50/53 | €3,062,093 | €1,112,917 | -€1.9m | -63.7% |
| Cash at bank and in hand | 54/58 | €177,699 | €20,502 | -€157,197 | -88.5% |
| Deferred charges and accrued income | 490/1 | €26,357 | €39,490 | +€13,133 | +49.8% |
| Total equity and liabilities | 10/49 | €8,938,522 | €12,600,087 | +€3.7m | +41.0% |
| Equity | 10/15 | €2,308,749 | €5,709,700 | +€3.4m | +147% |
| Contributions | 10/11 | €468,670 | €468,670 | = | 0.0% |
| Capital | 10 | €85,000 | €85,000 | = | 0.0% |
| Issued capital | 100 | €85,000 | €85,000 | = | 0.0% |
| Contributions outside capital | 11 | €383,670 | €383,670 | = | 0.0% |
| Share premium | 1100/10 | €383,670 | €383,670 | = | 0.0% |
| Reserves | 13 | €357,828 | €526,018 | +€168,190 | +47.0% |
| Non-distributable reserves | 130/1 | €8,500 | €8,500 | = | 0.0% |
| Legal reserve | 130 | €8,500 | €8,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €349,328 | €335,700 | -€13,628 | -3.9% |
| Distributable reserves | 133 | - | €181,818 | +€181,818 | |
| Profit (loss) carried forward | 14 | €1,482,251 | €4,715,012 | +€3.2m | +218% |
| Provisions and deferred taxes | 16 | €124,963 | €119,949 | -€5,014 | -4.0% |
| Deferred taxes | 168 | €124,963 | €119,949 | -€5,014 | -4.0% |
| Amounts payable | 17/49 | €6,504,810 | €6,770,438 | +€265,628 | +4.1% |
| Amounts payable after more than one year | 17 | €6,169,278 | €6,481,939 | +€312,661 | +5.1% |
| Financial debts | 170/4 | €721,136 | €573,169 | -€147,967 | -20.5% |
| Other amounts payable | 178/9 | €5,448,142 | €5,908,770 | +€460,628 | +8.5% |
| Amounts payable within one year | 42/48 | €215,855 | €249,796 | +€33,941 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €145,790 | €147,967 | +€2,177 | +1.5% |
| Trade debts | 44 | €7,074 | €20,747 | +€13,673 | +193% |
| Suppliers | 440/4 | €7,074 | €20,747 | +€13,673 | +193% |
| Taxes, remuneration and social security | 45 | €16,303 | €12,918 | -€3,385 | -20.8% |
| Taxes | 450/3 | €16,303 | €12,918 | -€3,385 | -20.8% |
| Other amounts payable | 47/48 | €46,688 | €68,164 | +€21,476 | +46.0% |
| Accrued charges and deferred income | 492/3 | €119,677 | €38,703 | -€80,974 | -67.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,451 | €237,213 | +€86,762 | +57.7% |
| Other operating charges | 640/8 | €146,062 | €41,184 | -€104,878 | -71.8% |
| Gross operating margin | 9900 | €409,705 | €417,784 | +€8,079 | +2.0% |
| Operating profit (loss) | 9901 | €113,192 | €139,387 | +€26,195 | +23.1% |
| Financial income | 75/76B | €139,456 | €3,611,761 | +€3.5m | +2,490% |
| Recurring financial income | 75 | €139,456 | €3,611,761 | +€3.5m | +2,490% |
| Financial charges | 65/66B | €164,930 | €274,374 | +€109,444 | +66.4% |
| Recurring financial charges | 65 | €164,930 | €274,374 | +€109,444 | +66.4% |
| Profit (loss) for the period before taxes | 9903 | €87,718 | €3,476,774 | +€3.4m | +3,864% |
| Transfer from deferred taxes | 780 | €5,014 | €5,014 | = | 0.0% |
| Income taxes | 67/77 | €29,156 | €19,637 | -€9,519 | -32.6% |
| Profit (loss) for the period | 9904 | €63,576 | €3,462,151 | +€3.4m | +5,346% |
| Transfer from tax-exempt reserves | 789 | €13,628 | €13,628 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €77,204 | €3,475,779 | +€3.4m | +4,402% |
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 19 October 2026 via checked.be.