HEEDEN: 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.
HEEDEN
Largest movements
- Tangible fixed assets -€28,846
down €28,846 (-4.3%), from €668,734 to €639,888
of which Leasing and similar rights: -€19,003
- Receivables within one year -€24,117
no longer reported in 2025 (was €24,117)
of which Other amounts receivable: -€12,851
- Deferred charges and accrued income -€12,493
down €12,493 (-42.3%), from €29,505 to €17,012
- Profit (loss) carried forward +€48,397
up €48,397 (+58.7%), from €82,493 to €130,889
- Short-term financial debts -€46,007
down €46,007 (-74.1%), from €62,088 to €16,081
- Debts after one year -€43,689
down €43,689 (-29.9%), from €146,259 to €102,570
- Trade debts -€15,908
down €15,908 (-96.3%), from €16,527 to €619
- Gross operating margin +€39,516
up €39,516 (+41.4%), from €95,495 to €135,011
- Taxes +€10,758
up €10,758 (+118%), from €9,149 to €19,907
- Depreciation -€1,511
down €1,511 (-4.0%), from €37,624 to €36,113
- Financial charges +€1,365
up €1,365 (+5.6%), from €24,245 to €25,610
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 | €722,707 | €661,008 | -€61,698 | -8.5% |
| Fixed assets | 21/28 | €669,084 | €640,238 | -€28,846 | -4.3% |
| Tangible fixed assets | 22/27 | €668,734 | €639,888 | -€28,846 | -4.3% |
| Land and buildings | 22 | €239,412 | €229,597 | -€9,815 | -4.1% |
| Furniture and vehicles | 24 | €5,100 | €5,071 | -€29 | -0.6% |
| Leasing and similar rights | 25 | €424,223 | €405,220 | -€19,003 | -4.5% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €53,622 | €20,770 | -€32,852 | -61.3% |
| Amounts receivable within one year | 40/41 | €24,117 | - | -€24,117 | |
| Trade receivables | 40 | €11,266 | - | -€11,266 | |
| Other amounts receivable | 41 | €12,851 | - | -€12,851 | |
| Cash at bank and in hand | 54/58 | - | €3,759 | +€3,759 | |
| Deferred charges and accrued income | 490/1 | €29,505 | €17,012 | -€12,493 | -42.3% |
| Total equity and liabilities | 10/49 | €722,707 | €661,008 | -€61,698 | -8.5% |
| Equity | 10/15 | €244,440 | €292,836 | +€48,397 | +19.8% |
| Contributions | 10/11 | €142,500 | €142,500 | = | 0.0% |
| Reserves | 13 | €19,447 | €19,447 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,447 | €15,447 | = | 0.0% |
| Distributable reserves | 133 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,493 | €130,889 | +€48,397 | +58.7% |
| Provisions and deferred taxes | 16 | €196,572 | €198,693 | +€2,121 | +1.1% |
| Provisions for liabilities and charges | 160/5 | €196,572 | €198,693 | +€2,121 | +1.1% |
| Other liabilities and charges | 164/5 | €196,572 | €198,693 | +€2,121 | +1.1% |
| Amounts payable | 17/49 | €281,694 | €169,478 | -€112,216 | -39.8% |
| Amounts payable after more than one year | 17 | €146,259 | €102,570 | -€43,689 | -29.9% |
| Financial debts | 170/4 | €146,259 | €102,570 | -€43,689 | -29.9% |
| Amounts payable within one year | 42/48 | €135,435 | €66,909 | -€68,527 | -50.6% |
| Current portion of amounts payable after more than one year | 42 | €47,807 | €43,689 | -€4,118 | -8.6% |
| Financial debts | 43 | €62,088 | €16,081 | -€46,007 | -74.1% |
| Credit institutions | 430/8 | €62,088 | €16,081 | -€46,007 | -74.1% |
| Trade debts | 44 | €16,527 | €619 | -€15,908 | -96.3% |
| Suppliers | 440/4 | €16,527 | €619 | -€15,908 | -96.3% |
| Taxes, remuneration and social security | 45 | €5,509 | €5,075 | -€433 | -7.9% |
| Taxes | 450/3 | €3,704 | €5,075 | +€1,372 | +37.0% |
| Remuneration and social security | 454/9 | €1,805 | - | -€1,805 | |
| Other amounts payable | 47/48 | €3,505 | €1,444 | -€2,061 | -58.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,624 | €36,113 | -€1,511 | -4.0% |
| Other operating charges | 640/8 | €1,535 | €2,864 | +€1,329 | +86.6% |
| Non-recurring operating charges | 66A | €2,121 | €2,121 | = | 0.0% |
| Gross operating margin | 9900 | €95,495 | €135,011 | +€39,516 | +41.4% |
| Operating profit (loss) | 9901 | €54,216 | €93,913 | +€39,698 | +73.2% |
| Financial charges | 65/66B | €24,245 | €25,610 | +€1,365 | +5.6% |
| Recurring financial charges | 65 | €24,245 | €25,610 | +€1,365 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €29,970 | €68,304 | +€38,333 | +128% |
| Income taxes | 67/77 | €9,149 | €19,907 | +€10,758 | +118% |
| Profit (loss) for the period | 9904 | €20,821 | €48,397 | +€27,576 | +132% |
| Profit (loss) for the period to be appropriated | 9905 | €20,821 | €48,397 | +€27,576 | +132% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.