HELA: 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.
What changed
HELA
NACE 25.110, Manufacture of metal structures and parts of structures
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.1m
2024 · €1.0m+€123,138
Equity
€12.3m
2024 · €11.1m+€1.1m
Cash
€2.5m
2024 · €1.7m+€814,378
Balance sheet total
€16.3m
2024 · €14.4m+€1.9m
Largest movements
Assets
- Financial fixed assets +€1.0m
up €1.0m (+25.0%), from €4.0m to €5.0m
- Cash +€814,378
up €814,378 (+48.6%), from €1.7m to €2.5m
mainly Net result for the year (+€1.1m) and Depreciation (+€759,834)
- Tangible fixed assets -€745,969
down €745,969 (-12.2%), from €6.1m to €5.4m
of which Plant, machinery and equipment: -€608,545
- Receivables within one year +€491,081
up €491,081 (+48.7%), from €1.0m to €1.5m
of which Trade receivables: +€583,042
- Stocks and contracts +€392,627
up €392,627 (+25.5%), from €1.5m to €1.9m
Equity and liabilities
- Profit (loss) carried forward +€1.1m
up €1.1m (+10.5%), from €10.9m to €12.1m
- Trade debts +€613,407
up €613,407 (+31.5%), from €1.9m to €2.6m
- Tax, wage and social debts +€296,275
up €296,275 (+60.3%), from €491,260 to €787,535
of which Taxes: +€313,054
Income statement
- Turnover +€1.5m
up €1.5m (+8.1%), from €18.7m to €20.2m
- Goods and materials +€1.5m
up €1.5m (+12.0%), from €12.3m to €13.8m
of which Purchases: +€1.9m
- Staff costs +€292,839
up €292,839 (+12.9%), from €2.3m to €2.6m
- Services and other goods -€277,218
down €277,218 (-13.6%), from €2.0m to €1.8m
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.
Result 2024
€1.0m
Turnover
+€1.5m
Other operating income
+€4,690
Goods and materials
-€1.5m
Services and other goods
+€277,218
Staff costs
-€292,839
Depreciation
+€16,794
Write-downs
-€43,780
Other operating charges
-€1,300
Other operating items
+€11,780
Financial income
+€143,317
Financial charges
-€4,873
Taxes
-€25,904
Result 2025
€1.1m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€1.9m
Investment
-€1.0m
Financing
-€107,617
Cash 2024
€1.7m
From operations (derived)
+€1.9m
Net result for the year
+€1.1m
Depreciation
+€759,834
Stocks and contracts
-€392,627
Receivables within one year
-€491,081
Deferred charges and accrued income
+€26,697
Trade debts
+€613,407
Tax, wage and social debts
+€296,275
Accrued charges and deferred income
-€19,868
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Financing
-€107,617
Debts after one year
-€109,321
Current portion of long-term debt
+€1,703
Cash 2025
€2.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,366,174 | €16,291,593 | +€1.9m | +13.4% |
| Fixed assets | 21/28 | €10,114,444 | €10,368,475 | +€254,031 | +2.5% |
| Tangible fixed assets | 22/27 | €6,114,444 | €5,368,475 | -€745,969 | -12.2% |
| Land and buildings | 22 | €2,533,224 | €2,395,800 | -€137,424 | -5.4% |
| Plant, machinery and equipment | 23 | €3,581,220 | €2,972,675 | -€608,545 | -17.0% |
| Financial fixed assets | 28 | €4,000,000 | €5,000,000 | +€1.0m | +25.0% |
| Affiliated companies | 280/1 | €4,000,000 | €5,000,000 | +€1.0m | +25.0% |
| Amounts receivable | 281 | €4,000,000 | €5,000,000 | +€1.0m | +25.0% |
| Current assets | 29/58 | €4,251,729 | €5,923,118 | +€1.7m | +39.3% |
| Stocks and contracts in progress | 3 | €1,542,324 | €1,934,951 | +€392,627 | +25.5% |
| Stocks | 30/36 | €1,542,324 | €1,934,951 | +€392,627 | +25.5% |
| Raw materials and consumables | 30/31 | €1,184,490 | €1,537,678 | +€353,188 | +29.8% |
| Work in progress | 32 | €357,834 | €397,273 | +€39,438 | +11.0% |
| Amounts receivable within one year | 40/41 | €1,007,773 | €1,498,855 | +€491,081 | +48.7% |
| Trade receivables | 40 | €915,813 | €1,498,855 | +€583,042 | +63.7% |
| Other amounts receivable | 41 | €91,961 | €0 | -€91,961 | -100% |
| Cash at bank and in hand | 54/58 | €1,674,934 | €2,489,313 | +€814,378 | +48.6% |
| Deferred charges and accrued income | 490/1 | €26,697 | €0 | -€26,697 | -100% |
| Total equity and liabilities | 10/49 | €14,366,174 | €16,291,593 | +€1.9m | +13.4% |
| Equity | 10/15 | €11,109,493 | €12,252,715 | +€1.1m | +10.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €126,827 | €126,827 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,050 | €10,050 | = | 0.0% |
| Legal reserve | 130 | €10,050 | €10,050 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €79,277 | €79,277 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,920,666 | €12,063,888 | +€1.1m | +10.5% |
| Amounts payable | 17/49 | €3,256,681 | €4,038,878 | +€782,197 | +24.0% |
| Amounts payable after more than one year | 17 | €662,578 | €553,257 | -€109,321 | -16.5% |
| Financial debts | 170/4 | €662,578 | €553,257 | -€109,321 | -16.5% |
| Credit institutions | 173 | €662,578 | €553,257 | -€109,321 | -16.5% |
| Amounts payable within one year | 42/48 | €2,548,015 | €3,459,400 | +€911,385 | +35.8% |
| Current portion of amounts payable after more than one year | 42 | €107,617 | €109,321 | +€1,703 | +1.6% |
| Trade debts | 44 | €1,949,137 | €2,562,544 | +€613,407 | +31.5% |
| Suppliers | 440/4 | €1,949,137 | €2,562,544 | +€613,407 | +31.5% |
| Taxes, remuneration and social security | 45 | €491,260 | €787,535 | +€296,275 | +60.3% |
| Taxes | 450/3 | €135,067 | €448,121 | +€313,054 | +232% |
| Remuneration and social security | 454/9 | €356,194 | €339,415 | -€16,779 | -4.7% |
| Accrued charges and deferred income | 492/3 | €46,088 | €26,221 | -€19,868 | -43.1% |
| Operating income | 70/76A | €18,865,949 | €20,404,474 | +€1.5m | +8.2% |
| Turnover | 70 | €18,712,980 | €20,235,035 | +€1.5m | +8.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €27,658 | €39,438 | +€11,780 | +42.6% |
| Other operating income | 74 | €125,311 | €130,001 | +€4,690 | +3.7% |
| Operating charges | 60/66A | €17,471,226 | €18,999,153 | +€1.5m | +8.7% |
| Goods for resale, raw materials and consumables | 60 | €12,324,421 | €13,808,441 | +€1.5m | +12.0% |
| Purchases | 600/8 | €12,312,581 | €14,233,828 | +€1.9m | +15.6% |
| Change in stocks: decrease (increase) | 609 | €11,840 | -€425,387 | -€437,228 | |
| Services and other goods | 61 | €2,032,478 | €1,755,260 | -€277,218 | -13.6% |
| Remuneration, social security and pensions | 62 | €2,265,131 | €2,557,970 | +€292,839 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €776,628 | €759,834 | -€16,794 | -2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €38,095 | €81,875 | +€43,780 | +115% |
| Other operating charges | 640/8 | €34,472 | €35,772 | +€1,300 | +3.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €1,394,723 | €1,405,322 | +€10,599 | +0.8% |
| Financial income | 75/76B | €59,429 | €202,746 | +€143,317 | +241% |
| Recurring financial income | 75 | €59,429 | €202,746 | +€143,317 | +241% |
| Income from financial fixed assets | 750 | €59,429 | €202,661 | +€143,231 | +241% |
| Other financial income | 752/9 | €0 | €85 | +€85 | |
| Financial charges | 65/66B | €52,380 | €57,253 | +€4,873 | +9.3% |
| Recurring financial charges | 65 | €52,380 | €57,253 | +€4,873 | +9.3% |
| Debt charges | 650 | €13,044 | €11,329 | -€1,714 | -13.1% |
| Other financial charges | 652/9 | €39,336 | €45,924 | +€6,588 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €1,401,773 | €1,550,815 | +€149,042 | +10.6% |
| Income taxes | 67/77 | €381,688 | €407,592 | +€25,904 | +6.8% |
| Taxes | 670/3 | €381,688 | €407,592 | +€25,904 | +6.8% |
| Profit (loss) for the period | 9904 | €1,020,085 | €1,143,222 | +€123,138 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,020,085 | €1,143,222 | +€123,138 | +12.1% |
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 15 October 2026 via checked.be.