HEIDEVELD: 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.
HEIDEVELD
Largest movements
- Current investments -€3.5m
down €3.5m (-100.0%), from €3.5m to €0
- Cash +€2.9m
up €2.9m (+410.1%), from €698,498 to €3.6m
mainly Current investments (+€3.5m) and Net result for the year (+€2.2m)
- Receivables within one year +€1.8m
up €1.8m (+15.3%), from €11.6m to €13.4m
of which Other amounts receivable: +€1.8m
- Reserves +€2.1m
up €2.1m (+6.8%), from €30.3m to €32.4m
of which Distributable reserves: +€2.1m
- Debts after one year -€1.1m
down €1.1m (-13.6%), from €8.0m to €6.9m
- Financial income -€96,114
down €96,114 (-4.1%), from €2.3m to €2.2m
of which Financial income: -€96,114
- Gross operating margin +€37,917
up €37,917 (+12.8%), from €295,223 to €333,140
- Taxes -€11,997
down €11,997 (-32.0%), from €37,518 to €25,521
- Financial charges +€5,532
up €5,532 (+1.7%), from €318,868 to €324,399
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 | €39,968,277 | €41,046,117 | +€1.1m | +2.7% |
| Fixed assets | 21/28 | €24,183,884 | €24,122,706 | -€61,178 | -0.3% |
| Tangible fixed assets | 22/27 | €7,524,223 | €7,490,642 | -€33,580 | -0.4% |
| Land and buildings | 22 | €7,524,223 | €7,490,642 | -€33,580 | -0.4% |
| Financial fixed assets | 28 | €16,659,662 | €16,632,064 | -€27,598 | -0.2% |
| Current assets | 29/58 | €15,784,393 | €16,923,411 | +€1.1m | +7.2% |
| Amounts receivable within one year | 40/41 | €11,579,536 | €13,356,368 | +€1.8m | +15.3% |
| Trade receivables | 40 | €101 | €104 | +€3 | +3.1% |
| Other amounts receivable | 41 | €11,579,435 | €13,356,264 | +€1.8m | +15.3% |
| Current investments | 50/53 | €3,500,000 | €0 | -€3.5m | -100.0% |
| Cash at bank and in hand | 54/58 | €698,498 | €3,562,708 | +€2.9m | +410.1% |
| Deferred charges and accrued income | 490/1 | €6,359 | €4,335 | -€2,024 | -31.8% |
| Total equity and liabilities | 10/49 | €39,968,277 | €41,046,117 | +€1.1m | +2.7% |
| Equity | 10/15 | €30,709,970 | €32,769,782 | +€2.1m | +6.7% |
| Contributions | 10/11 | €362,000 | €362,000 | = | 0.0% |
| Capital | 10 | €362,000 | €362,000 | = | 0.0% |
| Issued capital | 100 | €362,000 | €362,000 | = | 0.0% |
| Reserves | 13 | €30,347,970 | €32,407,782 | +€2.1m | +6.8% |
| Non-distributable reserves | 130/1 | €36,200 | €36,200 | = | 0.0% |
| Legal reserve | 130 | €36,200 | €36,200 | = | 0.0% |
| Distributable reserves | 133 | €30,311,770 | €32,371,582 | +€2.1m | +6.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €9,258,307 | €8,276,335 | -€981,972 | -10.6% |
| Amounts payable after more than one year | 17 | €7,961,173 | €6,879,328 | -€1.1m | -13.6% |
| Financial debts | 170/4 | €7,961,173 | €6,879,328 | -€1.1m | -13.6% |
| Amounts payable within one year | 42/48 | €1,267,926 | €1,302,762 | +€34,836 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €1,023,110 | €1,078,261 | +€55,151 | +5.4% |
| Financial debts | 43 | €16,889 | €12,625 | -€4,265 | -25.3% |
| Credit institutions | 430/8 | €16,889 | €12,625 | -€4,265 | -25.3% |
| Trade debts | 44 | €96,861 | €80,345 | -€16,517 | -17.1% |
| Suppliers | 440/4 | €96,861 | €80,345 | -€16,517 | -17.1% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €131,065 | €131,531 | +€466 | +0.4% |
| Accrued charges and deferred income | 492/3 | €29,208 | €94,245 | +€65,037 | +222.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,580 | €33,580 | = | 0.0% |
| Other operating charges | 640/8 | €22,395 | €22,646 | +€251 | +1.1% |
| Non-recurring operating charges | 66A | - | €1,628 | +€1,628 | |
| Gross operating margin | 9900 | €295,223 | €333,140 | +€37,917 | +12.8% |
| Operating profit (loss) | 9901 | €239,247 | €275,286 | +€36,039 | +15.1% |
| Financial income | 75/76B | €2,330,560 | €2,234,446 | -€96,114 | -4.1% |
| Recurring financial income | 75 | €2,330,560 | €2,234,446 | -€96,114 | -4.1% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €318,868 | €324,399 | +€5,532 | +1.7% |
| Recurring financial charges | 65 | €318,868 | €324,399 | +€5,532 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €2,250,939 | €2,185,332 | -€65,607 | -2.9% |
| Income taxes | 67/77 | €37,518 | €25,521 | -€11,997 | -32.0% |
| Profit (loss) for the period | 9904 | €2,213,421 | €2,159,811 | -€53,609 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,213,421 | €2,159,811 | -€53,609 | -2.4% |
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 4 October 2026 via checked.be.