HEICO: 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.
HEICO
Largest movements
- Cash +€154,179
up €154,179 (+90.6%), from €170,149 to €324,328
mainly Net result for the year (+€138,091) and Depreciation (+€10,001)
- Current investments -€7,293
down €7,293 (-2.8%), from €259,753 to €252,459
- Tangible fixed assets -€6,366
down €6,366 (-33.2%), from €19,189 to €12,823
of which Furniture and vehicles: -€6,117
- Reserves +€138,091
up €138,091 (+31.2%), from €443,161 to €581,252
- Financial income +€34,172
up €34,172 (+211%), from €16,232 to €50,404
of which Non-recurring financial income: +€28,164
- Gross operating margin +€24,977
up €24,977 (+19.2%), from €130,257 to €155,234
- Taxes +€11,505
up €11,505 (+28.7%), from €40,090 to €51,595
- Financial charges +€4,429
up €4,429 (+321%), from €1,378 to €5,806
of which Non-recurring financial charges: +€2,882
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 | €473,306 | €614,024 | +€140,718 | +29.7% |
| Fixed assets | 21/28 | €19,189 | €12,823 | -€6,366 | -33.2% |
| Tangible fixed assets | 22/27 | €19,189 | €12,823 | -€6,366 | -33.2% |
| Plant, machinery and equipment | 23 | €383 | €133 | -€250 | -65.2% |
| Furniture and vehicles | 24 | €18,807 | €12,690 | -€6,117 | -32.5% |
| Current assets | 29/58 | €454,117 | €601,201 | +€147,084 | +32.4% |
| Amounts receivable within one year | 40/41 | €23,107 | €23,251 | +€144 | +0.6% |
| Trade receivables | 40 | €20,933 | €21,077 | +€144 | +0.7% |
| Other amounts receivable | 41 | €2,175 | €2,175 | = | 0.0% |
| Current investments | 50/53 | €259,753 | €252,459 | -€7,293 | -2.8% |
| Cash at bank and in hand | 54/58 | €170,149 | €324,328 | +€154,179 | +90.6% |
| Deferred charges and accrued income | 490/1 | €1,108 | €1,162 | +€55 | +4.9% |
| Total equity and liabilities | 10/49 | €473,306 | €614,024 | +€140,718 | +29.7% |
| Equity | 10/15 | €450,661 | €588,752 | +€138,091 | +30.6% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €443,161 | €581,252 | +€138,091 | +31.2% |
| Distributable reserves | 133 | €443,161 | €581,252 | +€138,091 | +31.2% |
| Amounts payable | 17/49 | €22,645 | €25,272 | +€2,627 | +11.6% |
| Amounts payable within one year | 42/48 | €21,715 | €24,157 | +€2,442 | +11.2% |
| Trade debts | 44 | €1,661 | €677 | -€984 | -59.3% |
| Suppliers | 440/4 | €1,661 | €677 | -€984 | -59.3% |
| Taxes, remuneration and social security | 45 | €16,256 | €20,990 | +€4,735 | +29.1% |
| Taxes | 450/3 | €16,256 | €20,990 | +€4,735 | +29.1% |
| Other amounts payable | 47/48 | €3,799 | €2,490 | -€1,309 | -34.4% |
| Accrued charges and deferred income | 492/3 | €930 | €1,115 | +€185 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,681 | €10,001 | +€321 | +3.3% |
| Other operating charges | 640/8 | €267 | €144 | -€123 | -46.0% |
| Gross operating margin | 9900 | €130,257 | €155,234 | +€24,977 | +19.2% |
| Operating profit (loss) | 9901 | €120,309 | €145,088 | +€24,779 | +20.6% |
| Financial income | 75/76B | €16,232 | €50,404 | +€34,172 | +211% |
| Recurring financial income | 75 | €7,657 | €13,664 | +€6,008 | +78.5% |
| Non-recurring financial income | 76B | €8,575 | €36,740 | +€28,164 | +328% |
| Financial charges | 65/66B | €1,378 | €5,806 | +€4,429 | +321% |
| Recurring financial charges | 65 | €656 | €2,202 | +€1,546 | +236% |
| Non-recurring financial charges | 66B | €722 | €3,604 | +€2,882 | +399% |
| Profit (loss) for the period before taxes | 9903 | €135,164 | €189,686 | +€54,523 | +40.3% |
| Income taxes | 67/77 | €40,090 | €51,595 | +€11,505 | +28.7% |
| Profit (loss) for the period | 9904 | €95,073 | €138,091 | +€43,018 | +45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €95,073 | €138,091 | +€43,018 | +45.2% |
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 17 October 2026 via checked.be.