HEELIX: what changed
Two fiscal 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.
HEELIX
Largest movements
- Tangible fixed assets +€129,870
up €129,870 (+55.1%), from €235,677 to €365,546
of which Leasing and similar rights: +€77,764
- Cash -€36,079
down €36,079 (-10.4%), from €346,984 to €310,905
mainly Investment in fixed assets (net) (-€194,660) and Contributions, distributions and other (-€124,463)
- Stocks and contracts +€33,261
up €33,261 (+1574.6%), from €2,112 to €35,373
- Deferred charges and accrued income -€12,774
down €12,774 (-100.0%), from €12,774 to €0
- Receivables within one year -€12,075
down €12,075 (-38.0%), from €31,743 to €19,668
of which Trade receivables: -€10,132
- Debts after one year +€69,330
up €69,330 (+52.2%), from €132,815 to €202,145
- Tax, wage and social debts -€46,490
down €46,490 (-36.9%), from €126,035 to €79,545
of which Taxes: -€43,986
- Current portion of long-term debt +€30,074
up €30,074 (+72.3%), from €41,591 to €71,665
- Reserves +€28,691
up €28,691 (+15.0%), from €190,813 to €219,504
of which Distributable reserves: +€28,691
- Other debts +€27,000
up €27,000 (+60.0%), from €45,000 to €72,000
- Gross operating margin +€108,325
up €108,325 (+31.8%), from €341,035 to €449,360
- Depreciation +€23,730
up €23,730 (+54.1%), from €43,836 to €67,566
- Taxes +€12,934
up €12,934 (+66.5%), from €19,434 to €32,368
- Staff costs +€12,519
up €12,519 (+7.1%), from €175,519 to €188,039
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.
Cash bridge derived
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 | €632,307 | €731,734 | +€99,427 | +15.7% |
| Fixed assets | 21/28 | €238,694 | €365,787 | +€127,094 | +53.2% |
| Intangible fixed assets | 21 | €2,997 | €221 | -€2,776 | -92.6% |
| Tangible fixed assets | 22/27 | €235,677 | €365,546 | +€129,870 | +55.1% |
| Plant, machinery and equipment | 23 | €123,145 | €150,892 | +€27,747 | +22.5% |
| Furniture and vehicles | 24 | €7,340 | €8,221 | +€881 | +12.0% |
| Leasing and similar rights | 25 | - | €77,764 | +€77,764 | |
| Other tangible fixed assets | 26 | €105,192 | €128,670 | +€23,478 | +22.3% |
| Financial fixed assets | 28 | €20 | €20 | = | 0.0% |
| Current assets | 29/58 | €393,613 | €365,946 | -€27,667 | -7.0% |
| Stocks and contracts in progress | 3 | €2,112 | €35,373 | +€33,261 | +1574.6% |
| Stocks | 30/36 | €2,112 | €35,373 | +€33,261 | +1574.6% |
| Amounts receivable within one year | 40/41 | €31,743 | €19,668 | -€12,075 | -38.0% |
| Trade receivables | 40 | €22,707 | €12,575 | -€10,132 | -44.6% |
| Other amounts receivable | 41 | €9,037 | €7,093 | -€1,944 | -21.5% |
| Cash at bank and in hand | 54/58 | €346,984 | €310,905 | -€36,079 | -10.4% |
| Deferred charges and accrued income | 490/1 | €12,774 | €0 | -€12,774 | -100.0% |
| Total equity and liabilities | 10/49 | €632,307 | €731,734 | +€99,427 | +15.7% |
| Equity | 10/15 | €259,956 | €288,647 | +€28,691 | +11.0% |
| Contributions | 10/11 | €66,125 | €66,125 | = | 0.0% |
| Capital | 10 | €66,125 | €66,125 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Uncalled capital | 101 | €13,875 | €13,875 | = | 0.0% |
| Reserves | 13 | €190,813 | €219,504 | +€28,691 | +15.0% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €182,813 | €211,504 | +€28,691 | +15.7% |
| Profit (loss) carried forward | 14 | €3,018 | €3,018 | = | 0.0% |
| Amounts payable | 17/49 | €372,351 | €443,087 | +€70,736 | +19.0% |
| Amounts payable after more than one year | 17 | €132,815 | €202,145 | +€69,330 | +52.2% |
| Financial debts | 170/4 | €132,815 | €202,145 | +€69,330 | +52.2% |
| Amounts payable within one year | 42/48 | €239,536 | €240,941 | +€1,406 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €41,591 | €71,665 | +€30,074 | +72.3% |
| Trade debts | 44 | €26,909 | €17,731 | -€9,179 | -34.1% |
| Suppliers | 440/4 | €26,909 | €17,731 | -€9,179 | -34.1% |
| Taxes, remuneration and social security | 45 | €126,035 | €79,545 | -€46,490 | -36.9% |
| Taxes | 450/3 | €91,634 | €47,648 | -€43,986 | -48.0% |
| Remuneration and social security | 454/9 | €34,401 | €31,898 | -€2,504 | -7.3% |
| Other amounts payable | 47/48 | €45,000 | €72,000 | +€27,000 | +60.0% |
| Remuneration, social security and pensions | 62 | €175,519 | €188,039 | +€12,519 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,836 | €67,566 | +€23,730 | +54.1% |
| Other operating charges | 640/8 | €685 | €978 | +€293 | +42.8% |
| Gross operating margin | 9900 | €341,035 | €449,360 | +€108,325 | +31.8% |
| Operating profit (loss) | 9901 | €120,995 | €192,777 | +€71,782 | +59.3% |
| Financial income | 75/76B | €0 | €304 | +€304 | +506733.3% |
| Recurring financial income | 75 | €0 | €304 | +€304 | +506733.3% |
| Financial charges | 65/66B | €3,747 | €7,559 | +€3,812 | +101.7% |
| Recurring financial charges | 65 | €3,747 | €7,559 | +€3,812 | +101.7% |
| Profit (loss) for the period before taxes | 9903 | €117,247 | €185,522 | +€68,275 | +58.2% |
| Income taxes | 67/77 | €19,434 | €32,368 | +€12,934 | +66.5% |
| Profit (loss) for the period | 9904 | €97,813 | €153,154 | +€55,341 | +56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €97,813 | €153,154 | +€55,341 | +56.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.