HEER ALBERT: 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.
HEER ALBERT
Largest movements
- Receivables within one year +€132,422
up €132,422 (+252%), from €52,478 to €184,901
of which Trade receivables: +€132,421
- Tangible fixed assets -€34,657
down €34,657 (-88.4%), from €39,204 to €4,547
of which Furniture and vehicles: -€27,770
- Cash -€27,755
down €27,755 (-94.5%), from €29,361 to €1,606
mainly Short-term financial debts (-€150,000) and Receivables within one year (-€132,422)
- Deferred charges and accrued income +€8,659
up €8,659 (+249%), from €3,471 to €12,130
- Profit (loss) carried forward +€187,490
up €187,490 (+54.9%), from -€341,495 to -€154,005
- Short-term financial debts -€150,000
down €150,000 (-100%), from €150,000 to €0
- Debts after one year +€69,410
up €69,410 (+558%), from €12,439 to €81,849
- Tax, wage and social debts -€37,182
down €37,182 (-81.7%), from €45,520 to €8,338
of which Remuneration and social security: -€30,278
- Current portion of long-term debt +€24,257
up €24,257 (+236%), from €10,265 to €34,522
- Staff costs -€228,170
down €228,170 (-98.2%), from €232,411 to €4,241
- Gross operating margin +€202,488
up €202,488 (+513%), from €39,450 to €241,938
- Other operating charges +€18,768
up €18,768 (+180%), from €10,427 to €29,196
- Financial income -€12,438
down €12,438 (-100%), from €12,438 to €0
- Depreciation -€7,070
down €7,070 (-44.0%), from €16,079 to €9,010
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 | €128,198 | €205,866 | +€77,668 | +60.6% |
| Fixed assets | 21/28 | €42,888 | €7,230 | -€35,658 | -83.1% |
| Intangible fixed assets | 21 | €3,682 | €2,682 | -€1,000 | -27.2% |
| Tangible fixed assets | 22/27 | €39,204 | €4,547 | -€34,657 | -88.4% |
| Plant, machinery and equipment | 23 | €8,648 | €1,761 | -€6,887 | -79.6% |
| Furniture and vehicles | 24 | €30,556 | €2,786 | -€27,770 | -90.9% |
| Financial fixed assets | 28 | €1 | €0 | -€1 | -100% |
| Current assets | 29/58 | €85,310 | €198,636 | +€113,326 | +133% |
| Amounts receivable within one year | 40/41 | €52,478 | €184,901 | +€132,422 | +252% |
| Trade receivables | 40 | €52,478 | €184,900 | +€132,421 | +252% |
| Other amounts receivable | 41 | €0 | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €29,361 | €1,606 | -€27,755 | -94.5% |
| Deferred charges and accrued income | 490/1 | €3,471 | €12,130 | +€8,659 | +249% |
| Total equity and liabilities | 10/49 | €128,198 | €205,866 | +€77,668 | +60.6% |
| Equity | 10/15 | -€154,995 | €32,495 | +€187,490 | |
| Contributions | 10/11 | €186,500 | €186,500 | = | 0.0% |
| Capital | 10 | €186,500 | €186,500 | = | 0.0% |
| Issued capital | 100 | €186,500 | €186,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€341,495 | -€154,005 | +€187,490 | +54.9% |
| Amounts payable | 17/49 | €283,193 | €173,371 | -€109,822 | -38.8% |
| Amounts payable after more than one year | 17 | €12,439 | €81,849 | +€69,410 | +558% |
| Financial debts | 170/4 | €12,439 | €81,849 | +€69,410 | +558% |
| Amounts payable within one year | 42/48 | €268,464 | €90,840 | -€177,624 | -66.2% |
| Current portion of amounts payable after more than one year | 42 | €10,265 | €34,522 | +€24,257 | +236% |
| Financial debts | 43 | €150,000 | €0 | -€150,000 | -100% |
| Credit institutions | 430/8 | €150,000 | €0 | -€150,000 | -100% |
| Trade debts | 44 | €34,724 | €15,664 | -€19,060 | -54.9% |
| Suppliers | 440/4 | €34,724 | €15,664 | -€19,060 | -54.9% |
| Taxes, remuneration and social security | 45 | €45,520 | €8,338 | -€37,182 | -81.7% |
| Taxes | 450/3 | €15,241 | €8,338 | -€6,904 | -45.3% |
| Remuneration and social security | 454/9 | €30,278 | €0 | -€30,278 | -100% |
| Other amounts payable | 47/48 | €27,956 | €32,317 | +€4,361 | +15.6% |
| Accrued charges and deferred income | 492/3 | €2,290 | €681 | -€1,609 | -70.2% |
| Remuneration, social security and pensions | 62 | €232,411 | €4,241 | -€228,170 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,079 | €9,010 | -€7,070 | -44.0% |
| Other operating charges | 640/8 | €10,427 | €29,196 | +€18,768 | +180% |
| Gross operating margin | 9900 | €39,450 | €241,938 | +€202,488 | +513% |
| Operating profit (loss) | 9901 | -€219,468 | €199,492 | +€418,959 | |
| Financial income | 75/76B | €12,438 | €0 | -€12,438 | -100% |
| Recurring financial income | 75 | €12,438 | €0 | -€12,438 | -100% |
| Financial charges | 65/66B | €10,480 | €9,768 | -€713 | -6.8% |
| Recurring financial charges | 65 | €10,480 | €9,768 | -€713 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | -€217,510 | €189,724 | +€407,234 | |
| Income taxes | 67/77 | €320 | €2,234 | +€1,914 | +599% |
| Profit (loss) for the period | 9904 | -€217,830 | €187,490 | +€405,320 | |
| Profit (loss) for the period to be appropriated | 9905 | -€217,830 | €187,490 | +€405,320 |
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 25 October 2026 via checked.be.