HEINEN: 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.
HEINEN
Largest movements
- Cash -€120,865
down €120,865 (-60.4%), from €199,973 to €79,108
mainly Trade debts (-€93,328) and Net result for the year (-€31,002)
- Receivables within one year -€39,211
down €39,211 (-22.2%), from €176,232 to €137,021
of which Other amounts receivable: -€24,287
- Tangible fixed assets -€35,205
down €35,205 (-25.3%), from €139,028 to €103,823
- Current investments +€26,613
up €26,613 (+14.8%), from €180,000 to €206,613
- Trade debts -€93,328
down €93,328 (-49.2%), from €189,537 to €96,209
- Profit (loss) carried forward -€31,002
new in 2025: -€31,002
- Tax, wage and social debts -€22,801
down €22,801 (-28.9%), from €78,805 to €56,004
of which Remuneration and social security: -€21,652
- Debts after one year -€17,263
down €17,263 (-56.5%), from €30,545 to €13,282
- Gross operating margin -€125,053
down €125,053 (-29.5%), from €423,381 to €298,328
- Financial income +€35,746
up €35,746 (+1649.7%), from €2,167 to €37,913
- Staff costs -€18,773
down €18,773 (-5.7%), from €326,726 to €307,954
- Financial charges -€18,649
down €18,649 (-64.6%), from €28,864 to €10,215
- Taxes -€8,555
down €8,555 (-97.9%), from €8,742 to €187
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 | €737,831 | €577,611 | -€160,220 | -21.7% |
| Fixed assets | 21/28 | €140,950 | €105,745 | -€35,205 | -25.0% |
| Tangible fixed assets | 22/27 | €139,028 | €103,823 | -€35,205 | -25.3% |
| Land and buildings | 22 | €69,451 | €55,792 | -€13,660 | -19.7% |
| Plant, machinery and equipment | 23 | €13,361 | €9,461 | -€3,900 | -29.2% |
| Furniture and vehicles | 24 | €7,360 | - | -€7,360 | |
| Leasing and similar rights | 25 | €48,855 | €38,570 | -€10,285 | -21.1% |
| Financial fixed assets | 28 | €1,922 | €1,922 | = | 0.0% |
| Current assets | 29/58 | €596,882 | €471,866 | -€125,016 | -20.9% |
| Stocks and contracts in progress | 3 | €27,648 | €34,068 | +€6,420 | +23.2% |
| Stocks | 30/36 | €27,648 | €34,068 | +€6,420 | +23.2% |
| Amounts receivable within one year | 40/41 | €176,232 | €137,021 | -€39,211 | -22.2% |
| Trade receivables | 40 | €144,802 | €129,878 | -€14,923 | -10.3% |
| Other amounts receivable | 41 | €31,430 | €7,142 | -€24,287 | -77.3% |
| Current investments | 50/53 | €180,000 | €206,613 | +€26,613 | +14.8% |
| Cash at bank and in hand | 54/58 | €199,973 | €79,108 | -€120,865 | -60.4% |
| Deferred charges and accrued income | 490/1 | €13,029 | €15,056 | +€2,027 | +15.6% |
| Total equity and liabilities | 10/49 | €737,831 | €577,611 | -€160,220 | -21.7% |
| Equity | 10/15 | €399,689 | €368,686 | -€31,002 | -7.8% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €362,505 | €362,505 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,000 | €35,000 | = | 0.0% |
| Distributable reserves | 133 | €327,505 | €327,505 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€31,002 | -€31,002 | |
| Amounts payable | 17/49 | €338,143 | €208,925 | -€129,218 | -38.2% |
| Amounts payable after more than one year | 17 | €30,545 | €13,282 | -€17,263 | -56.5% |
| Financial debts | 170/4 | €30,545 | €13,282 | -€17,263 | -56.5% |
| Amounts payable within one year | 42/48 | €307,597 | €195,642 | -€111,955 | -36.4% |
| Current portion of amounts payable after more than one year | 42 | €16,766 | €17,263 | +€497 | +3.0% |
| Trade debts | 44 | €189,537 | €96,209 | -€93,328 | -49.2% |
| Suppliers | 440/4 | €189,537 | €96,209 | -€93,328 | -49.2% |
| Taxes, remuneration and social security | 45 | €78,805 | €56,004 | -€22,801 | -28.9% |
| Taxes | 450/3 | €13,115 | €11,965 | -€1,150 | -8.8% |
| Remuneration and social security | 454/9 | €65,690 | €44,039 | -€21,652 | -33.0% |
| Other amounts payable | 47/48 | €22,489 | €26,166 | +€3,677 | +16.3% |
| Non-recurring operating income | 76A | €3,000 | - | -€3,000 | |
| Remuneration, social security and pensions | 62 | €326,726 | €307,954 | -€18,773 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,491 | €35,205 | +€7,714 | +28.1% |
| Other operating charges | 640/8 | €13,301 | €13,682 | +€381 | +2.9% |
| Gross operating margin | 9900 | €423,381 | €298,328 | -€125,053 | -29.5% |
| Operating profit (loss) | 9901 | €55,863 | -€58,513 | -€114,376 | |
| Financial income | 75/76B | €2,167 | €37,913 | +€35,746 | +1649.7% |
| Recurring financial income | 75 | €2,167 | €37,913 | +€35,746 | +1649.7% |
| Financial charges | 65/66B | €28,864 | €10,215 | -€18,649 | -64.6% |
| Recurring financial charges | 65 | €28,864 | €10,215 | -€18,649 | -64.6% |
| Profit (loss) for the period before taxes | 9903 | €29,166 | -€30,816 | -€59,981 | |
| Income taxes | 67/77 | €8,742 | €187 | -€8,555 | -97.9% |
| Profit (loss) for the period | 9904 | €20,424 | -€31,002 | -€51,427 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,424 | -€31,002 | -€51,427 |
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 8 October 2026 via checked.be.