Heficas: 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.
Heficas
Largest movements
- Tangible fixed assets -€17,061
down €17,061 (-3.1%), from €544,079 to €527,018
- Receivables within one year +€15,664
new in 2025: €15,664
of which Trade receivables: +€14,252
- Cash +€13,413
up €13,413 (+23.7%), from €56,506 to €69,919
mainly Net result for the year (+€31,555) and Depreciation (+€17,061)
- Debts after one year -€36,452
down €36,452 (-8.2%), from €447,241 to €410,789
- Reserves +€19,447
new in 2025: €19,447
- Accrued charges and deferred income +€14,039
up €14,039 (+246.2%), from €5,702 to €19,741
- Profit (loss) carried forward +€12,107
up €12,107, from -€12,107 to €0
- Gross operating margin +€6,849
up €6,849 (+11.1%), from €61,583 to €68,432
- Taxes +€6,588
new in 2025: €6,588
- Financial charges -€774
down €774 (-7.3%), from €10,586 to €9,812
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 | €602,385 | €613,796 | +€11,411 | +1.9% |
| Fixed assets | 21/28 | €544,079 | €527,018 | -€17,061 | -3.1% |
| Tangible fixed assets | 22/27 | €544,079 | €527,018 | -€17,061 | -3.1% |
| Land and buildings | 22 | €544,079 | €527,018 | -€17,061 | -3.1% |
| Current assets | 29/58 | €58,305 | €86,778 | +€28,473 | +48.8% |
| Amounts receivable within one year | 40/41 | - | €15,664 | +€15,664 | |
| Trade receivables | 40 | - | €14,252 | +€14,252 | |
| Other amounts receivable | 41 | - | €1,412 | +€1,412 | |
| Cash at bank and in hand | 54/58 | €56,506 | €69,919 | +€13,413 | +23.7% |
| Deferred charges and accrued income | 490/1 | €1,799 | €1,195 | -€604 | -33.6% |
| Total equity and liabilities | 10/49 | €602,385 | €613,796 | +€11,411 | +1.9% |
| Equity | 10/15 | €393 | €31,947 | +€31,555 | +8036.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | - | €19,447 | +€19,447 | |
| Distributable reserves | 133 | - | €19,447 | +€19,447 | |
| Profit (loss) carried forward | 14 | -€12,107 | €0 | +€12,107 | |
| Amounts payable | 17/49 | €601,992 | €581,849 | -€20,143 | -3.3% |
| Amounts payable after more than one year | 17 | €447,241 | €410,789 | -€36,452 | -8.2% |
| Financial debts | 170/4 | €447,241 | €410,789 | -€36,452 | -8.2% |
| Amounts payable within one year | 42/48 | €149,048 | €151,318 | +€2,270 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €35,795 | €36,452 | +€657 | +1.8% |
| Trade debts | 44 | €194 | €679 | +€485 | +250.2% |
| Suppliers | 440/4 | €194 | €679 | +€485 | +250.2% |
| Other amounts payable | 47/48 | €113,059 | €114,187 | +€1,128 | +1.0% |
| Accrued charges and deferred income | 492/3 | €5,702 | €19,741 | +€14,039 | +246.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,713 | €17,061 | +€348 | +2.1% |
| Other operating charges | 640/8 | €3,314 | €3,416 | +€102 | +3.1% |
| Gross operating margin | 9900 | €61,583 | €68,432 | +€6,849 | +11.1% |
| Operating profit (loss) | 9901 | €41,556 | €47,955 | +€6,399 | +15.4% |
| Financial income | 75/76B | €193 | €0 | -€193 | -100.0% |
| Recurring financial income | 75 | €193 | €0 | -€193 | -100.0% |
| Financial charges | 65/66B | €10,586 | €9,812 | -€774 | -7.3% |
| Recurring financial charges | 65 | €10,586 | €9,812 | -€774 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €31,163 | €38,143 | +€6,980 | +22.4% |
| Income taxes | 67/77 | - | €6,588 | +€6,588 | |
| Profit (loss) for the period | 9904 | €31,163 | €31,555 | +€391 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,163 | €31,555 | +€391 | +1.3% |
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 3 October 2026 via checked.be.