HEINS FRERES: 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.
HEINS FRERES
Largest movements
- Cash +€74,757
up €74,757 (+120%), from €62,203 to €136,961
mainly Receivables within one year (+€54,552) and Trade debts (+€33,013)
- Receivables within one year -€54,552
down €54,552 (-12.7%), from €428,352 to €373,801
of which Trade receivables: -€56,424
- Stocks and contracts +€22,287
up €22,287 (+52.4%), from €42,500 to €64,787
- Tangible fixed assets -€20,538
down €20,538 (-20.9%), from €98,039 to €77,501
of which Land and buildings: -€11,838
- Deferred charges and accrued income +€7,779
up €7,779 (+24.0%), from €32,390 to €40,169
- Trade debts +€33,013
up €33,013 (+83.2%), from €39,686 to €72,699
- Reserves +€13,853
up €13,853 (+3.0%), from €454,331 to €468,184
- Tax, wage and social debts -€13,458
down €13,458 (-36.3%), from €37,102 to €23,644
of which Taxes: -€21,397
- Other debts +€8,401
up €8,401 (+8.3%), from €101,447 to €109,848
- Gross operating margin -€8,854
down €8,854 (-15.1%), from €58,667 to €49,813
- Taxes -€1,872
down €1,872 (-19.9%), from €9,424 to €7,552
- Depreciation -€1,271
down €1,271 (-4.8%), from €26,749 to €25,478
- Financial charges -€967
down €967 (-14.4%), from €6,719 to €5,752
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 | €669,485 | €699,218 | +€29,733 | +4.4% |
| Fixed assets | 21/28 | €104,039 | €83,501 | -€20,538 | -19.7% |
| Tangible fixed assets | 22/27 | €98,039 | €77,501 | -€20,538 | -20.9% |
| Land and buildings | 22 | €64,055 | €52,217 | -€11,838 | -18.5% |
| Plant, machinery and equipment | 23 | €32,179 | €24,966 | -€7,212 | -22.4% |
| Furniture and vehicles | 24 | €1,806 | €318 | -€1,488 | -82.4% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €565,446 | €615,717 | +€50,271 | +8.9% |
| Stocks and contracts in progress | 3 | €42,500 | €64,787 | +€22,287 | +52.4% |
| Stocks | 30/36 | €42,500 | €64,787 | +€22,287 | +52.4% |
| Amounts receivable within one year | 40/41 | €428,352 | €373,801 | -€54,552 | -12.7% |
| Trade receivables | 40 | €132,776 | €76,352 | -€56,424 | -42.5% |
| Other amounts receivable | 41 | €295,576 | €297,449 | +€1,872 | +0.6% |
| Cash at bank and in hand | 54/58 | €62,203 | €136,961 | +€74,757 | +120% |
| Deferred charges and accrued income | 490/1 | €32,390 | €40,169 | +€7,779 | +24.0% |
| Total equity and liabilities | 10/49 | €669,485 | €699,218 | +€29,733 | +4.4% |
| Equity | 10/15 | €465,956 | €478,839 | +€12,883 | +2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €454,331 | €468,184 | +€13,853 | +3.0% |
| Distributable reserves | 133 | €454,331 | €468,184 | +€13,853 | +3.0% |
| Investment grants | 15 | €5,425 | €4,455 | -€970 | -17.9% |
| Amounts payable | 17/49 | €203,529 | €220,379 | +€16,849 | +8.3% |
| Amounts payable after more than one year | 17 | €6,667 | - | -€6,667 | |
| Financial debts | 170/4 | €6,667 | - | -€6,667 | |
| Amounts payable within one year | 42/48 | €191,569 | €212,858 | +€21,289 | +11.1% |
| Current portion of amounts payable after more than one year | 42 | €13,333 | €6,667 | -€6,666 | -50.0% |
| Trade debts | 44 | €39,686 | €72,699 | +€33,013 | +83.2% |
| Suppliers | 440/4 | €39,686 | €72,699 | +€33,013 | +83.2% |
| Taxes, remuneration and social security | 45 | €37,102 | €23,644 | -€13,458 | -36.3% |
| Taxes | 450/3 | €30,170 | €8,772 | -€21,397 | -70.9% |
| Remuneration and social security | 454/9 | €6,933 | €14,872 | +€7,939 | +115% |
| Other amounts payable | 47/48 | €101,447 | €109,848 | +€8,401 | +8.3% |
| Accrued charges and deferred income | 492/3 | €5,293 | €7,521 | +€2,228 | +42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,749 | €25,478 | -€1,271 | -4.8% |
| Other operating charges | 640/8 | €2,880 | €2,969 | +€90 | +3.1% |
| Gross operating margin | 9900 | €58,667 | €49,813 | -€8,854 | -15.1% |
| Operating profit (loss) | 9901 | €29,038 | €21,365 | -€7,673 | -26.4% |
| Financial income | 75/76B | €7,784 | €7,458 | -€326 | -4.2% |
| Recurring financial income | 75 | €7,784 | €7,458 | -€326 | -4.2% |
| Financial charges | 65/66B | €6,719 | €5,752 | -€967 | -14.4% |
| Recurring financial charges | 65 | €6,719 | €5,752 | -€967 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €30,102 | €23,071 | -€7,031 | -23.4% |
| Income taxes | 67/77 | €9,424 | €7,552 | -€1,872 | -19.9% |
| Profit (loss) for the period | 9904 | €20,678 | €15,519 | -€5,159 | -24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €20,678 | €15,519 | -€5,159 | -24.9% |
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 27 October 2026 via checked.be.