HEINES BART: 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.
HEINES BART
Largest movements
- Cash +€1.3m
up €1.3m (+41.8%), from €3.1m to €4.3m
mainly Net result for the year (+€1.4m) and Current investments (+€850,000)
- Current investments -€850,000
down €850,000 (-37.6%), from €2.3m to €1.4m
- Receivables within one year +€133,732
up €133,732 (+16.4%), from €816,229 to €949,962
- Reserves +€368,689
up €368,689 (+7.2%), from €5.1m to €5.5m
- Tax, wage and social debts +€132,393
up €132,393 (+73.5%), from €180,021 to €312,414
of which Taxes: +€123,609
- Other debts +€105,274
up €105,274 (+15.8%), from €665,076 to €770,350
- Gross operating margin +€725,319
up €725,319 (+35.7%), from €2.0m to €2.8m
- Taxes +€202,667
up €202,667 (+42.2%), from €479,766 to €682,433
- Staff costs +€67,460
up €67,460 (+12.5%), from €540,127 to €607,587
- Financial charges +€42,179
up €42,179, from -€29,605 to €12,574
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 | €6,263,489 | €6,864,014 | +€600,525 | +9.6% |
| Fixed assets | 21/28 | €97,203 | €134,026 | +€36,823 | +37.9% |
| Tangible fixed assets | 22/27 | €96,840 | €133,663 | +€36,823 | +38.0% |
| Plant, machinery and equipment | 23 | €1,696 | €940 | -€756 | -44.6% |
| Furniture and vehicles | 24 | €82,068 | €132,394 | +€50,325 | +61.3% |
| Other tangible fixed assets | 26 | €13,075 | €329 | -€12,747 | -97.5% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €6,166,286 | €6,729,988 | +€563,702 | +9.1% |
| Stocks and contracts in progress | 3 | €5,473 | €7,035 | +€1,561 | +28.5% |
| Stocks | 30/36 | €5,473 | €7,035 | +€1,561 | +28.5% |
| Amounts receivable within one year | 40/41 | €816,229 | €949,962 | +€133,732 | +16.4% |
| Trade receivables | 40 | €816,229 | €949,962 | +€133,732 | +16.4% |
| Current investments | 50/53 | €2,258,125 | €1,408,125 | -€850,000 | -37.6% |
| Cash at bank and in hand | 54/58 | €3,056,324 | €4,333,591 | +€1.3m | +41.8% |
| Deferred charges and accrued income | 490/1 | €30,134 | €31,276 | +€1,142 | +3.8% |
| Total equity and liabilities | 10/49 | €6,263,489 | €6,864,014 | +€600,525 | +9.6% |
| Equity | 10/15 | €5,288,056 | €5,656,745 | +€368,689 | +7.0% |
| Contributions | 10/11 | €150,240 | €150,240 | = | 0.0% |
| Reserves | 13 | €5,137,816 | €5,506,505 | +€368,689 | +7.2% |
| Distributable reserves | 133 | €5,137,816 | €5,506,505 | +€368,689 | +7.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €975,433 | €1,207,269 | +€231,835 | +23.8% |
| Amounts payable within one year | 42/48 | €969,894 | €1,199,736 | +€229,842 | +23.7% |
| Trade debts | 44 | €124,797 | €116,972 | -€7,825 | -6.3% |
| Suppliers | 440/4 | €124,797 | €116,972 | -€7,825 | -6.3% |
| Taxes, remuneration and social security | 45 | €180,021 | €312,414 | +€132,393 | +73.5% |
| Taxes | 450/3 | €105,712 | €229,321 | +€123,609 | +116.9% |
| Remuneration and social security | 454/9 | €74,310 | €83,093 | +€8,783 | +11.8% |
| Other amounts payable | 47/48 | €665,076 | €770,350 | +€105,274 | +15.8% |
| Accrued charges and deferred income | 492/3 | €5,540 | €7,533 | +€1,993 | +36.0% |
| Non-recurring operating income | 76A | €4,959 | €6,777 | +€1,818 | +36.7% |
| Remuneration, social security and pensions | 62 | €540,127 | €607,587 | +€67,460 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,623 | €80,447 | +€824 | +1.0% |
| Other operating charges | 640/8 | €3,632 | €3,124 | -€508 | -14.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €2,029,723 | €2,755,041 | +€725,319 | +35.7% |
| Operating profit (loss) | 9901 | €1,406,341 | €2,063,883 | +€657,542 | +46.8% |
| Financial income | 75/76B | €74,585 | €69,261 | -€5,324 | -7.1% |
| Recurring financial income | 75 | €74,585 | €69,261 | -€5,324 | -7.1% |
| Financial charges | 65/66B | -€29,605 | €12,574 | +€42,179 | |
| Recurring financial charges | 65 | -€29,605 | €12,574 | +€42,179 | |
| Profit (loss) for the period before taxes | 9903 | €1,510,531 | €2,120,570 | +€610,039 | +40.4% |
| Income taxes | 67/77 | €479,766 | €682,433 | +€202,667 | +42.2% |
| Profit (loss) for the period | 9904 | €1,030,765 | €1,438,137 | +€407,372 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,030,765 | €1,438,137 | +€407,372 | +39.5% |
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 10 October 2026 via checked.be.