Heirman Logistics: 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.
Heirman Logistics
Largest movements
- Cash -€8,940
down €8,940 (-52.3%), from €17,101 to €8,161
mainly Net result for the year (-€29,218) and Investment in fixed assets (net) (-€19,345)
- Profit (loss) carried forward -€29,218
down €29,218, from €0 to -€29,218
- Trade debts +€17,007
up €17,007 (+3,101%), from €548 to €17,556
- Other debts +€6,446
up €6,446 (+12.7%), from €50,585 to €57,030
- Gross operating margin -€27,914
down €27,914 (-74.8%), from €37,331 to €9,418
- Other operating charges +€15,453
up €15,453 (+1,385%), from €1,116 to €16,569
- Depreciation +€1,387
up €1,387 (+8.3%), from €16,753 to €18,139
- Financial charges +€1,229
up €1,229 (+142%), from €865 to €2,095
- Taxes +€970
up €970 (+45.4%), from €2,135 to €3,105
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 | €606,878 | €601,452 | -€5,426 | -0.9% |
| Fixed assets | 21/28 | €543,684 | €544,890 | +€1,206 | +0.2% |
| Tangible fixed assets | 22/27 | €543,684 | €544,890 | +€1,206 | +0.2% |
| Land and buildings | 22 | €520,894 | €507,638 | -€13,256 | -2.5% |
| Plant, machinery and equipment | 23 | €22,790 | €37,252 | +€14,462 | +63.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €63,195 | €56,562 | -€6,632 | -10.5% |
| Amounts receivable within one year | 40/41 | €43,904 | €44,195 | +€291 | +0.7% |
| Trade receivables | 40 | €9,775 | €4,088 | -€5,687 | -58.2% |
| Other amounts receivable | 41 | €34,129 | €40,107 | +€5,978 | +17.5% |
| Cash at bank and in hand | 54/58 | €17,101 | €8,161 | -€8,940 | -52.3% |
| Deferred charges and accrued income | 490/1 | €2,189 | €4,206 | +€2,017 | +92.2% |
| Total equity and liabilities | 10/49 | €606,878 | €601,452 | -€5,426 | -0.9% |
| Equity | 10/15 | €553,953 | €524,734 | -€29,218 | -5.3% |
| Contributions | 10/11 | €76,200 | €76,200 | = | 0.0% |
| Revaluation surpluses | 12 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €277,753 | €277,753 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €64,597 | €64,597 | = | 0.0% |
| Distributable reserves | 133 | €213,155 | €213,155 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€29,218 | -€29,218 | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Major repairs and maintenance | 162 | €0 | - | = | |
| Amounts payable | 17/49 | €52,926 | €76,718 | +€23,792 | +45.0% |
| Amounts payable within one year | 42/48 | €52,926 | €75,733 | +€22,807 | +43.1% |
| Trade debts | 44 | €548 | €17,556 | +€17,007 | +3,101% |
| Suppliers | 440/4 | €548 | €17,556 | +€17,007 | +3,101% |
| Taxes, remuneration and social security | 45 | €1,793 | €1,147 | -€646 | -36.0% |
| Taxes | 450/3 | €1,793 | €1,147 | -€646 | -36.0% |
| Other amounts payable | 47/48 | €50,585 | €57,030 | +€6,446 | +12.7% |
| Accrued charges and deferred income | 492/3 | - | €985 | +€985 | |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,753 | €18,139 | +€1,387 | +8.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €1,116 | €16,569 | +€15,453 | +1,385% |
| Gross operating margin | 9900 | €37,331 | €9,418 | -€27,914 | -74.8% |
| Operating profit (loss) | 9901 | €19,463 | -€25,290 | -€44,754 | |
| Financial income | 75/76B | €1,041 | €1,271 | +€231 | +22.2% |
| Recurring financial income | 75 | €1,041 | €1,271 | +€231 | +22.2% |
| Financial charges | 65/66B | €865 | €2,095 | +€1,229 | +142% |
| Recurring financial charges | 65 | €865 | €2,095 | +€1,229 | +142% |
| Profit (loss) for the period before taxes | 9903 | €19,639 | -€26,114 | -€45,752 | |
| Income taxes | 67/77 | €2,135 | €3,105 | +€970 | +45.4% |
| Profit (loss) for the period | 9904 | €17,503 | -€29,218 | -€46,722 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,503 | -€29,218 | -€46,722 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.