Heirman Management: 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 Management
Largest movements
- Tangible fixed assets -€62,210
down €62,210 (-5.3%), from €1.2m to €1.1m
of which Land and buildings: -€54,318
- Other debts -€45,528
down €45,528 (-5.5%), from €826,639 to €781,111
- Profit (loss) carried forward -€24,834
down €24,834 (-14.7%), from -€168,655 to -€193,490
- Depreciation -€21,984
down €21,984 (-25.9%), from €84,725 to €62,740
- Other operating charges +€10,583
up €10,583 (+157%), from €6,758 to €17,340
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 | €1,186,626 | €1,114,403 | -€72,224 | -6.1% |
| Fixed assets | 21/28 | €1,167,153 | €1,104,943 | -€62,210 | -5.3% |
| Tangible fixed assets | 22/27 | €1,167,134 | €1,104,924 | -€62,210 | -5.3% |
| Land and buildings | 22 | €1,078,492 | €1,024,174 | -€54,318 | -5.0% |
| Plant, machinery and equipment | 23 | €25,891 | €17,999 | -€7,892 | -30.5% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €62,751 | €62,751 | = | 0.0% |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €19,474 | €9,460 | -€10,014 | -51.4% |
| Amounts receivable within one year | 40/41 | €1 | €59 | +€58 | +6,481% |
| Other amounts receivable | 41 | €1 | €59 | +€58 | +6,481% |
| Cash at bank and in hand | 54/58 | €17,286 | €7,124 | -€10,161 | -58.8% |
| Deferred charges and accrued income | 490/1 | €2,187 | €2,277 | +€90 | +4.1% |
| Total equity and liabilities | 10/49 | €1,186,626 | €1,114,403 | -€72,224 | -6.1% |
| Equity | 10/15 | €357,145 | €332,310 | -€24,834 | -7.0% |
| Contributions | 10/11 | €478,000 | €478,000 | = | 0.0% |
| Capital | 10 | €478,000 | €478,000 | = | 0.0% |
| Issued capital | 100 | €478,000 | €478,000 | = | 0.0% |
| Reserves | 13 | €47,800 | €47,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €47,800 | €47,800 | = | 0.0% |
| Legal reserve | 130 | €47,800 | €47,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€168,655 | -€193,490 | -€24,834 | -14.7% |
| Amounts payable | 17/49 | €829,482 | €782,092 | -€47,389 | -5.7% |
| Amounts payable within one year | 42/48 | €828,697 | €781,517 | -€47,179 | -5.7% |
| Trade debts | 44 | €1,859 | €399 | -€1,461 | -78.6% |
| Suppliers | 440/4 | €1,859 | €399 | -€1,461 | -78.6% |
| Taxes, remuneration and social security | 45 | €199 | €8 | -€191 | -96.0% |
| Taxes | 450/3 | €199 | €8 | -€191 | -96.0% |
| Other amounts payable | 47/48 | €826,639 | €781,111 | -€45,528 | -5.5% |
| Accrued charges and deferred income | 492/3 | €785 | €575 | -€210 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,725 | €62,740 | -€21,984 | -25.9% |
| Other operating charges | 640/8 | €6,758 | €17,340 | +€10,583 | +157% |
| Gross operating margin | 9900 | €55,890 | €55,578 | -€312 | -0.6% |
| Operating profit (loss) | 9901 | -€35,593 | -€24,503 | +€11,090 | +31.2% |
| Financial charges | 65/66B | €130 | €140 | +€10 | +7.7% |
| Recurring financial charges | 65 | €130 | €140 | +€10 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€35,723 | -€24,643 | +€11,080 | +31.0% |
| Income taxes | 67/77 | €199 | €191 | -€7 | -3.6% |
| Profit (loss) for the period | 9904 | -€35,921 | -€24,834 | +€11,087 | +30.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,921 | -€24,834 | +€11,087 | +30.9% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.