HEIRMAN M.: 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 M.
Largest movements
- Cash +€151,719
up €151,719 (+259%), from €58,622 to €210,340
mainly Current investments (+€130,000) and Net result for the year (+€20,818)
- Current investments -€130,000
down €130,000 (-72.2%), from €180,000 to €50,000
- Reserves +€20,818
up €20,818 (+9.1%), from €227,544 to €248,363
- Other debts -€2,868
down €2,868 (-33.1%), from €8,669 to €5,802
- Gross operating margin +€6,658
up €6,658 (+33.9%), from €19,646 to €26,304
- Financial income +€6,585
up €6,585 (+1,045%), from €630 to €7,216
- Taxes +€3,417
up €3,417 (+52.1%), from €6,563 to €9,980
- Depreciation +€711
up €711 (+53.4%), from €1,331 to €2,042
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 | €256,317 | €274,205 | +€17,888 | +7.0% |
| Fixed assets | 21/28 | €8,193 | €6,151 | -€2,042 | -24.9% |
| Tangible fixed assets | 22/27 | €8,193 | €6,151 | -€2,042 | -24.9% |
| Furniture and vehicles | 24 | €8,193 | €6,151 | -€2,042 | -24.9% |
| Current assets | 29/58 | €248,124 | €268,054 | +€19,931 | +8.0% |
| Amounts receivable within one year | 40/41 | €8,626 | €7,185 | -€1,442 | -16.7% |
| Other amounts receivable | 41 | €8,626 | €7,185 | -€1,442 | -16.7% |
| Current investments | 50/53 | €180,000 | €50,000 | -€130,000 | -72.2% |
| Cash at bank and in hand | 54/58 | €58,622 | €210,340 | +€151,719 | +259% |
| Deferred charges and accrued income | 490/1 | €876 | €529 | -€346 | -39.5% |
| Total equity and liabilities | 10/49 | €256,317 | €274,205 | +€17,888 | +7.0% |
| Equity | 10/15 | €247,544 | €268,363 | +€20,818 | +8.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €227,544 | €248,363 | +€20,818 | +9.1% |
| Distributable reserves | 133 | €227,544 | €248,363 | +€20,818 | +9.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €8,773 | €5,843 | -€2,930 | -33.4% |
| Amounts payable within one year | 42/48 | €8,773 | €5,843 | -€2,930 | -33.4% |
| Trade debts | 44 | €103 | €41 | -€62 | -60.5% |
| Suppliers | 440/4 | €103 | €41 | -€62 | -60.5% |
| Other amounts payable | 47/48 | €8,669 | €5,802 | -€2,868 | -33.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,331 | €2,042 | +€711 | +53.4% |
| Other operating charges | 640/8 | €600 | €606 | +€7 | +1.1% |
| Gross operating margin | 9900 | €19,646 | €26,304 | +€6,658 | +33.9% |
| Operating profit (loss) | 9901 | €17,715 | €23,655 | +€5,940 | +33.5% |
| Financial income | 75/76B | €630 | €7,216 | +€6,585 | +1,045% |
| Recurring financial income | 75 | €630 | €7,216 | +€6,585 | +1,045% |
| Financial charges | 65/66B | €186 | €72 | -€114 | -61.3% |
| Recurring financial charges | 65 | €186 | €72 | -€114 | -61.3% |
| Profit (loss) for the period before taxes | 9903 | €18,159 | €30,798 | +€12,640 | +69.6% |
| Income taxes | 67/77 | €6,563 | €9,980 | +€3,417 | +52.1% |
| Profit (loss) for the period | 9904 | €11,596 | €20,818 | +€9,222 | +79.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,596 | €20,818 | +€9,222 | +79.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.