HEERWEGH: 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.
HEERWEGH
Largest movements
- Tangible fixed assets -€23,167
down €23,167 (-31.9%), from €72,608 to €49,441
of which Land and buildings: -€22,595
- Cash +€17,557
up €17,557 (+173.8%), from €10,101 to €27,658
mainly Depreciation (+€24,848) and Receivables within one year (+€3,948)
- Receivables within one year -€3,948
down €3,948 (-28.6%), from €13,820 to €9,872
- Other debts -€6,653
down €6,653 (-21.4%), from €31,105 to €24,452
- Tax, wage and social debts -€3,128
no longer reported in 2025 (was €3,128)
- Reserves +€1,777
up €1,777 (+3.9%), from €45,895 to €47,672
of which Distributable reserves: +€41,663
- Trade debts -€1,511
down €1,511 (-91.9%), from €1,644 to €133
- Other operating charges -€2,806
down €2,806 (-47.1%), from €5,958 to €3,152
- Gross operating margin -€1,120
down €1,120 (-4.1%), from €27,112 to €25,992
- Depreciation +€424
up €424 (+1.7%), from €24,424 to €24,848
- Taxes -€400
down €400 (-11.8%), from -€3,400 to -€3,800
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 | €102,529 | €93,014 | -€9,515 | -9.3% |
| Fixed assets | 21/28 | €72,608 | €49,441 | -€23,167 | -31.9% |
| Tangible fixed assets | 22/27 | €72,608 | €49,441 | -€23,167 | -31.9% |
| Land and buildings | 22 | €71,131 | €48,536 | -€22,595 | -31.8% |
| Furniture and vehicles | 24 | €1,477 | €905 | -€572 | -38.7% |
| Current assets | 29/58 | €29,921 | €43,573 | +€13,652 | +45.6% |
| Amounts receivable within one year | 40/41 | €13,820 | €9,872 | -€3,948 | -28.6% |
| Other amounts receivable | 41 | €13,820 | €9,872 | -€3,948 | -28.6% |
| Current investments | 50/53 | €6,000 | €6,043 | +€43 | +0.7% |
| Cash at bank and in hand | 54/58 | €10,101 | €27,658 | +€17,557 | +173.8% |
| Total equity and liabilities | 10/49 | €102,529 | €93,014 | -€9,515 | -9.3% |
| Equity | 10/15 | €64,495 | €66,272 | +€1,777 | +2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,895 | €47,672 | +€1,777 | +3.9% |
| Non-distributable reserves | 130/1 | €39,886 | - | -€39,886 | |
| Reserves not available under the articles | 1311 | €39,886 | - | -€39,886 | |
| Distributable reserves | 133 | €6,009 | €47,672 | +€41,663 | +693.3% |
| Amounts payable | 17/49 | €38,034 | €26,742 | -€11,292 | -29.7% |
| Amounts payable after more than one year | 17 | €2,157 | €2,157 | = | 0.0% |
| Other amounts payable | 178/9 | €2,157 | €2,157 | = | 0.0% |
| Amounts payable within one year | 42/48 | €35,877 | €24,585 | -€11,292 | -31.5% |
| Trade debts | 44 | €1,644 | €133 | -€1,511 | -91.9% |
| Suppliers | 440/4 | €1,644 | €133 | -€1,511 | -91.9% |
| Taxes, remuneration and social security | 45 | €3,128 | - | -€3,128 | |
| Taxes | 450/3 | €3,128 | - | -€3,128 | |
| Other amounts payable | 47/48 | €31,105 | €24,452 | -€6,653 | -21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,424 | €24,848 | +€424 | +1.7% |
| Other operating charges | 640/8 | €5,958 | €3,152 | -€2,806 | -47.1% |
| Gross operating margin | 9900 | €27,112 | €25,992 | -€1,120 | -4.1% |
| Operating profit (loss) | 9901 | -€3,270 | -€2,008 | +€1,262 | +38.6% |
| Financial income | 75/76B | - | €57 | +€57 | |
| Recurring financial income | 75 | - | €57 | +€57 | |
| Financial charges | 65/66B | €57 | €72 | +€15 | +26.3% |
| Recurring financial charges | 65 | €57 | €72 | +€15 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,327 | -€2,023 | +€1,304 | +39.2% |
| Income taxes | 67/77 | -€3,400 | -€3,800 | -€400 | -11.8% |
| Profit (loss) for the period | 9904 | €73 | €1,777 | +€1,704 | +2334.2% |
| Profit (loss) for the period to be appropriated | 9905 | €73 | €1,777 | +€1,704 | +2334.2% |
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 6 October 2026 via checked.be.