HEIDEBOUW: 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.
HEIDEBOUW
Largest movements
- Cash -€27,019
down €27,019 (-23.9%), from €112,848 to €85,829
mainly Investment in fixed assets (net) (-€22,111) and Net result for the year (-€8,013)
- Tangible fixed assets +€18,731
new in 2025: €18,731
- Reserves -€8,013
down €8,013 (-8.5%), from €94,488 to €86,475
- Gross operating margin -€26,832
down €26,832, from €23,099 to -€3,733
- Financial charges -€5,086
down €5,086 (-97.9%), from €5,197 to €111
- Depreciation +€3,380
new in 2025: €3,380
- Other operating charges +€269
up €269 (+34.1%), from €789 to €1,059
- Financial income +€269
up €269 (+206,923%), from €0 to €269
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 | €133,782 | €125,363 | -€8,419 | -6.3% |
| Fixed assets | 21/28 | €750 | €19,481 | +€18,731 | +2,497% |
| Tangible fixed assets | 22/27 | - | €18,731 | +€18,731 | |
| Furniture and vehicles | 24 | - | €18,731 | +€18,731 | |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €133,032 | €105,882 | -€27,150 | -20.4% |
| Amounts receivable within one year | 40/41 | €20,184 | €20,054 | -€131 | -0.6% |
| Trade receivables | 40 | €20,054 | €20,054 | = | 0.0% |
| Other amounts receivable | 41 | €131 | - | -€131 | |
| Cash at bank and in hand | 54/58 | €112,848 | €85,829 | -€27,019 | -23.9% |
| Total equity and liabilities | 10/49 | €133,782 | €125,363 | -€8,419 | -6.3% |
| Equity | 10/15 | €113,088 | €105,075 | -€8,013 | -7.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €94,488 | €86,475 | -€8,013 | -8.5% |
| Distributable reserves | 133 | €94,488 | €86,475 | -€8,013 | -8.5% |
| Amounts payable | 17/49 | €20,694 | €20,289 | -€406 | -2.0% |
| Amounts payable within one year | 42/48 | €20,694 | €20,289 | -€406 | -2.0% |
| Trade debts | 44 | €20,694 | €20,229 | -€465 | -2.2% |
| Suppliers | 440/4 | €20,694 | €20,229 | -€465 | -2.2% |
| Taxes, remuneration and social security | 45 | - | €60 | +€60 | |
| Taxes | 450/3 | - | €60 | +€60 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,380 | +€3,380 | |
| Other operating charges | 640/8 | €789 | €1,059 | +€269 | +34.1% |
| Gross operating margin | 9900 | €23,099 | -€3,733 | -€26,832 | |
| Operating profit (loss) | 9901 | €22,310 | -€8,172 | -€30,481 | |
| Financial income | 75/76B | €0 | €269 | +€269 | +206,923% |
| Recurring financial income | 75 | €0 | €269 | +€269 | +206,923% |
| Financial charges | 65/66B | €5,197 | €111 | -€5,086 | -97.9% |
| Recurring financial charges | 65 | €5,197 | €111 | -€5,086 | -97.9% |
| Profit (loss) for the period before taxes | 9903 | €17,113 | -€8,013 | -€25,126 | |
| Profit (loss) for the period | 9904 | €17,113 | -€8,013 | -€25,126 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,113 | -€8,013 | -€25,126 |
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 19 October 2026 via checked.be.