HEIRLOOM 17: 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.
HEIRLOOM 17
Largest movements
- Cash -€19,483
down €19,483 (-99.0%), from €19,679 to €196
mainly Tax, wage and social debts (-€35,268) and Other debts (-€18,431)
- Tangible fixed assets -€6,650
down €6,650 (-13.1%), from €50,666 to €44,016
of which Other tangible fixed assets: -€3,590
- Receivables within one year -€4,471
down €4,471 (-67.5%), from €6,622 to €2,151
of which Other amounts receivable: -€6,622
- Stocks and contracts +€3,974
up €3,974 (+14.4%), from €27,569 to €31,542
- Tax, wage and social debts -€35,268
down €35,268 (-49.6%), from €71,155 to €35,887
of which Remuneration and social security: -€27,055
- Other debts -€18,431
down €18,431 (-95.0%), from €19,405 to €973
- Debts after one year +€12,950
up €12,950 (+44.6%), from €29,050 to €42,000
- Profit (loss) carried forward +€11,830
up €11,830 (+19.8%), from -€59,667 to -€47,836
- Short-term financial debts +€10,599
new in 2025: €10,599
- Staff costs +€79,340
up €79,340 (+20.2%), from €393,611 to €472,951
- Gross operating margin +€8,934
up €8,934 (+1.7%), from €512,857 to €521,791
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 | €113,059 | €86,480 | -€26,579 | -23.5% |
| Fixed assets | 21/28 | €57,266 | €50,616 | -€6,650 | -11.6% |
| Tangible fixed assets | 22/27 | €50,666 | €44,016 | -€6,650 | -13.1% |
| Plant, machinery and equipment | 23 | €28,597 | €27,231 | -€1,366 | -4.8% |
| Furniture and vehicles | 24 | €5,871 | €4,178 | -€1,694 | -28.8% |
| Other tangible fixed assets | 26 | €16,197 | €12,608 | -€3,590 | -22.2% |
| Financial fixed assets | 28 | €6,600 | €6,600 | = | 0.0% |
| Current assets | 29/58 | €55,793 | €35,863 | -€19,930 | -35.7% |
| Stocks and contracts in progress | 3 | €27,569 | €31,542 | +€3,974 | +14.4% |
| Stocks | 30/36 | €27,569 | €31,542 | +€3,974 | +14.4% |
| Amounts receivable within one year | 40/41 | €6,622 | €2,151 | -€4,471 | -67.5% |
| Trade receivables | 40 | - | €2,151 | +€2,151 | |
| Other amounts receivable | 41 | €6,622 | - | -€6,622 | |
| Cash at bank and in hand | 54/58 | €19,679 | €196 | -€19,483 | -99.0% |
| Deferred charges and accrued income | 490/1 | €1,924 | €1,974 | +€50 | +2.6% |
| Total equity and liabilities | 10/49 | €113,059 | €86,480 | -€26,579 | -23.5% |
| Equity | 10/15 | -€31,667 | -€20,836 | +€10,830 | +34.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,667 | -€47,836 | +€11,830 | +19.8% |
| Investment grants | 15 | €3,000 | €2,000 | -€1,000 | -33.3% |
| Amounts payable | 17/49 | €144,725 | €107,316 | -€37,410 | -25.8% |
| Amounts payable after more than one year | 17 | €29,050 | €42,000 | +€12,950 | +44.6% |
| Other amounts payable | 178/9 | €29,050 | €42,000 | +€12,950 | +44.6% |
| Amounts payable within one year | 42/48 | €115,675 | €65,316 | -€50,360 | -43.5% |
| Current portion of amounts payable after more than one year | 42 | €3,170 | - | -€3,170 | |
| Financial debts | 43 | - | €10,599 | +€10,599 | |
| Credit institutions | 430/8 | - | €10,599 | +€10,599 | |
| Trade debts | 44 | €21,946 | €17,856 | -€4,089 | -18.6% |
| Suppliers | 440/4 | €21,946 | €17,856 | -€4,089 | -18.6% |
| Taxes, remuneration and social security | 45 | €71,155 | €35,887 | -€35,268 | -49.6% |
| Taxes | 450/3 | €9,977 | €1,764 | -€8,213 | -82.3% |
| Remuneration and social security | 454/9 | €61,178 | €34,123 | -€27,055 | -44.2% |
| Other amounts payable | 47/48 | €19,405 | €973 | -€18,431 | -95.0% |
| Remuneration, social security and pensions | 62 | €393,611 | €472,951 | +€79,340 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,535 | €17,728 | +€1,193 | +7.2% |
| Other operating charges | 640/8 | €1,918 | €5,114 | +€3,195 | +167% |
| Gross operating margin | 9900 | €512,857 | €521,791 | +€8,934 | +1.7% |
| Operating profit (loss) | 9901 | €100,793 | €25,999 | -€74,794 | -74.2% |
| Financial income | 75/76B | €1,000 | €1,019 | +€19 | +1.9% |
| Recurring financial income | 75 | €1,000 | €1,019 | +€19 | +1.9% |
| Financial charges | 65/66B | €15,402 | €15,188 | -€214 | -1.4% |
| Recurring financial charges | 65 | €15,402 | €15,188 | -€214 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €86,391 | €11,830 | -€74,561 | -86.3% |
| Profit (loss) for the period | 9904 | €86,391 | €11,830 | -€74,561 | -86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €86,391 | €11,830 | -€74,561 | -86.3% |
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 28 October 2026 via checked.be.