HEIGHT MASTERS: what changed
HEIGHT MASTERS
Largest movements
- Tangible fixed assets +€121,431
up €121,431 (+669%), from €18,138 to €139,570
of which Plant, machinery and equipment: +€62,724
- Cash +€21,232
up €21,232 (+133%), from €15,934 to €37,167
mainly Net result for the year (+€107,056) and Current portion of long-term debt (+€44,579)
- Receivables within one year -€18,028
down €18,028 (-12.0%), from €149,918 to €131,889
of which Trade receivables: -€57,569
- Deferred charges and accrued income -€12,329
down €12,329 (-36.1%), from €34,188 to €21,859
- Reserves +€81,056
up €81,056 (+216%), from €37,485 to €118,541
- Current portion of long-term debt +€44,579
up €44,579 (+714%), from €6,242 to €50,821
- Tax, wage and social debts -€23,275
down €23,275 (-60.5%), from €38,461 to €15,186
of which Taxes: -€20,628
- Debts after one year +€21,707
up €21,707 (+132%), from €16,418 to €38,125
- Other debts -€8,529
down €8,529 (-24.7%), from €34,529 to €26,000
- Gross operating margin +€149,372
up €149,372 (+44.7%), from €334,234 to €483,606
- Staff costs +€56,478
up €56,478 (+23.1%), from €244,559 to €301,037
- Taxes +€21,350
up €21,350 (+114%), from €18,727 to €40,077
- Depreciation +€8,437
up €8,437 (+114%), from €7,431 to €15,868
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €224,679 | €337,196 | +€112,518 | +50.1% |
| Fixed assets | 21/28 | €24,638 | €146,281 | +€121,643 | +494% |
| Tangible fixed assets | 22/27 | €18,138 | €139,570 | +€121,431 | +669% |
| Plant, machinery and equipment | 23 | €10,219 | €72,943 | +€62,724 | +614% |
| Furniture and vehicles | 24 | €7,919 | €64,188 | +€56,269 | +711% |
| Other tangible fixed assets | 26 | - | €2,438 | +€2,438 | |
| Financial fixed assets | 28 | €6,500 | €6,711 | +€211 | +3.3% |
| Current assets | 29/58 | €200,040 | €190,915 | -€9,125 | -4.6% |
| Amounts receivable within one year | 40/41 | €149,918 | €131,889 | -€18,028 | -12.0% |
| Trade receivables | 40 | €133,203 | €75,635 | -€57,569 | -43.2% |
| Other amounts receivable | 41 | €16,714 | €56,255 | +€39,541 | +237% |
| Cash at bank and in hand | 54/58 | €15,934 | €37,167 | +€21,232 | +133% |
| Deferred charges and accrued income | 490/1 | €34,188 | €21,859 | -€12,329 | -36.1% |
| Total equity and liabilities | 10/49 | €224,679 | €337,196 | +€112,518 | +50.1% |
| Equity | 10/15 | €47,485 | €128,541 | +€81,056 | +171% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €37,485 | €118,541 | +€81,056 | +216% |
| Distributable reserves | 133 | €37,485 | €118,541 | +€81,056 | +216% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €177,194 | €208,655 | +€31,461 | +17.8% |
| Amounts payable after more than one year | 17 | €16,418 | €38,125 | +€21,707 | +132% |
| Financial debts | 170/4 | €16,418 | €38,125 | +€21,707 | +132% |
| Amounts payable within one year | 42/48 | €160,776 | €170,530 | +€9,754 | +6.1% |
| Current portion of amounts payable after more than one year | 42 | €6,242 | €50,821 | +€44,579 | +714% |
| Trade debts | 44 | €81,544 | €78,523 | -€3,021 | -3.7% |
| Suppliers | 440/4 | €81,544 | €78,523 | -€3,021 | -3.7% |
| Taxes, remuneration and social security | 45 | €38,461 | €15,186 | -€23,275 | -60.5% |
| Taxes | 450/3 | €21,207 | €579 | -€20,628 | -97.3% |
| Remuneration and social security | 454/9 | €17,254 | €14,607 | -€2,647 | -15.3% |
| Other amounts payable | 47/48 | €34,529 | €26,000 | -€8,529 | -24.7% |
| Non-recurring operating income | 76A | - | €1,400 | +€1,400 | |
| Remuneration, social security and pensions | 62 | €244,559 | €301,037 | +€56,478 | +23.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,431 | €15,868 | +€8,437 | +114% |
| Other operating charges | 640/8 | €4,708 | €5,090 | +€382 | +8.1% |
| Non-recurring operating charges | 66A | €0 | €11,510 | +€11,510 | |
| Gross operating margin | 9900 | €334,234 | €483,606 | +€149,372 | +44.7% |
| Operating profit (loss) | 9901 | €77,536 | €150,102 | +€72,566 | +93.6% |
| Financial income | 75/76B | €2,486 | €1,010 | -€1,476 | -59.4% |
| Recurring financial income | 75 | €2,486 | €1,010 | -€1,476 | -59.4% |
| Financial charges | 65/66B | €3,106 | €3,978 | +€872 | +28.1% |
| Recurring financial charges | 65 | €3,106 | €3,978 | +€872 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | €76,915 | €147,133 | +€70,218 | +91.3% |
| Income taxes | 67/77 | €18,727 | €40,077 | +€21,350 | +114% |
| Profit (loss) for the period | 9904 | €58,188 | €107,056 | +€48,868 | +84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,188 | €107,056 | +€48,868 | +84.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.