HeEl: 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.
HeEl
Largest movements
- Cash +€33,784
up €33,784 (+721%), from €4,684 to €38,468
mainly Net result for the year (+€31,243) and Tax, wage and social debts (+€8,095)
- Tangible fixed assets +€4,879
up €4,879 (+429%), from €1,137 to €6,016
of which Other tangible fixed assets: +€4,209
- Deferred charges and accrued income +€915
up €915 (+96.8%), from €945 to €1,860
- Receivables within one year -€661
down €661 (-27.2%), from €2,430 to €1,769
- Reserves +€30,000
up €30,000 (+1,500%), from €2,000 to €32,000
- Tax, wage and social debts +€8,095
up €8,095 (+12,411%), from €65 to €8,160
of which Taxes: +€8,000
- Gross operating margin +€38,725
up €38,725 (+1,006%), from €3,848 to €42,573
- Taxes +€8,758
new in 2025: €8,758
- Financial charges +€1,497
up €1,497 (+966%), from €155 to €1,652
- Depreciation +€821
up €821 (+2,411%), from €34 to €855
- Other operating charges -€462
down €462 (-87.5%), from €527 to €66
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 | €9,196 | €48,113 | +€38,917 | +423% |
| Fixed assets | 21/28 | €1,137 | €6,016 | +€4,879 | +429% |
| Tangible fixed assets | 22/27 | €1,137 | €6,016 | +€4,879 | +429% |
| Plant, machinery and equipment | 23 | - | €461 | +€461 | |
| Furniture and vehicles | 24 | €1,137 | €1,345 | +€208 | +18.3% |
| Other tangible fixed assets | 26 | - | €4,209 | +€4,209 | |
| Current assets | 29/58 | €8,059 | €42,098 | +€34,038 | +422% |
| Amounts receivable within one year | 40/41 | €2,430 | €1,769 | -€661 | -27.2% |
| Trade receivables | 40 | €2,430 | €1,769 | -€661 | -27.2% |
| Cash at bank and in hand | 54/58 | €4,684 | €38,468 | +€33,784 | +721% |
| Deferred charges and accrued income | 490/1 | €945 | €1,860 | +€915 | +96.8% |
| Total equity and liabilities | 10/49 | €9,196 | €48,113 | +€38,917 | +423% |
| Equity | 10/15 | €7,302 | €37,715 | +€30,413 | +417% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €32,000 | +€30,000 | +1,500% |
| Distributable reserves | 133 | €2,000 | €32,000 | +€30,000 | +1,500% |
| Profit (loss) carried forward | 14 | €302 | €715 | +€413 | +137% |
| Amounts payable | 17/49 | €1,894 | €10,398 | +€8,504 | +449% |
| Amounts payable within one year | 42/48 | €1,894 | €10,398 | +€8,504 | +449% |
| Trade debts | 44 | €999 | €1,404 | +€405 | +40.6% |
| Suppliers | 440/4 | €999 | €1,404 | +€405 | +40.6% |
| Taxes, remuneration and social security | 45 | €65 | €8,160 | +€8,095 | +12,411% |
| Taxes | 450/3 | - | €8,000 | +€8,000 | |
| Remuneration and social security | 454/9 | €65 | €160 | +€95 | +145% |
| Other amounts payable | 47/48 | €830 | €834 | +€4 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34 | €855 | +€821 | +2,411% |
| Other operating charges | 640/8 | €527 | €66 | -€462 | -87.5% |
| Gross operating margin | 9900 | €3,848 | €42,573 | +€38,725 | +1,006% |
| Operating profit (loss) | 9901 | €3,287 | €41,653 | +€38,366 | +1,167% |
| Financial charges | 65/66B | €155 | €1,652 | +€1,497 | +966% |
| Recurring financial charges | 65 | €155 | €1,652 | +€1,497 | +966% |
| Profit (loss) for the period before taxes | 9903 | €3,132 | €40,001 | +€36,869 | +1,177% |
| Income taxes | 67/77 | - | €8,758 | +€8,758 | |
| Profit (loss) for the period | 9904 | €3,132 | €31,243 | +€28,111 | +898% |
| Profit (loss) for the period to be appropriated | 9905 | €3,132 | €31,243 | +€28,111 | +898% |
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 14 October 2026 via checked.be.