Helas 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.
Helas Management
Largest movements
- Financial fixed assets +€94,000
up €94,000 (+35.3%), from €266,000 to €360,000
- Cash +€57,873
up €57,873 (+1,746%), from €3,315 to €61,188
mainly Debts after one year (+€105,278) and Net result for the year (+€29,374)
- Debts after one year +€105,278
up €105,278 (+95.3%), from €110,458 to €215,736
- Reserves +€29,374
up €29,374 (+75.4%), from €38,935 to €68,309
- Current portion of long-term debt +€12,826
up €12,826 (+60.6%), from €21,168 to €33,994
- Tax, wage and social debts +€11,557
up €11,557 (+95.2%), from €12,137 to €23,694
of which Taxes: +€9,291
- Advances received -€7,904
no longer reported in 2025 (was €7,904)
- Gross operating margin +€9,447
up €9,447 (+25.7%), from €36,730 to €46,176
- Financial income +€3,483
up €3,483 (+36,662%), from €10 to €3,492
of which Non-recurring financial income: +€3,492
- Taxes +€2,777
up €2,777 (+49.9%), from €5,561 to €8,338
- Financial charges -€2,021
down €2,021 (-16.6%), from €12,202 to €10,182
- Other operating charges +€577
up €577 (+48.2%), from €1,197 to €1,774
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 | €269,398 | €423,816 | +€154,418 | +57.3% |
| Fixed assets | 21/28 | €266,000 | €360,000 | +€94,000 | +35.3% |
| Financial fixed assets | 28 | €266,000 | €360,000 | +€94,000 | +35.3% |
| Current assets | 29/58 | €3,398 | €63,816 | +€60,418 | +1,778% |
| Amounts receivable within one year | 40/41 | €83 | €2,628 | +€2,545 | +3,064% |
| Trade receivables | 40 | - | €2,556 | +€2,556 | |
| Other amounts receivable | 41 | €83 | €72 | -€11 | -13.4% |
| Cash at bank and in hand | 54/58 | €3,315 | €61,188 | +€57,873 | +1,746% |
| Total equity and liabilities | 10/49 | €269,398 | €423,816 | +€154,418 | +57.3% |
| Equity | 10/15 | €40,435 | €69,809 | +€29,374 | +72.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €38,935 | €68,309 | +€29,374 | +75.4% |
| Distributable reserves | 133 | €38,935 | €68,309 | +€29,374 | +75.4% |
| Amounts payable | 17/49 | €228,963 | €354,006 | +€125,044 | +54.6% |
| Amounts payable after more than one year | 17 | €110,458 | €215,736 | +€105,278 | +95.3% |
| Financial debts | 170/4 | €110,458 | €215,736 | +€105,278 | +95.3% |
| Amounts payable within one year | 42/48 | €118,505 | €138,270 | +€19,765 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €21,168 | €33,994 | +€12,826 | +60.6% |
| Trade debts | 44 | €5,301 | €762 | -€4,539 | -85.6% |
| Suppliers | 440/4 | €5,301 | €762 | -€4,539 | -85.6% |
| Advances received on contracts in progress | 46 | €7,904 | - | -€7,904 | |
| Taxes, remuneration and social security | 45 | €12,137 | €23,694 | +€11,557 | +95.2% |
| Taxes | 450/3 | €12,137 | €21,428 | +€9,291 | +76.6% |
| Remuneration and social security | 454/9 | - | €2,266 | +€2,266 | |
| Other amounts payable | 47/48 | €71,995 | €79,821 | +€7,826 | +10.9% |
| Other operating charges | 640/8 | €1,197 | €1,774 | +€577 | +48.2% |
| Gross operating margin | 9900 | €36,730 | €46,176 | +€9,447 | +25.7% |
| Operating profit (loss) | 9901 | €35,532 | €44,402 | +€8,870 | +25.0% |
| Financial income | 75/76B | €10 | €3,492 | +€3,483 | +36,662% |
| Recurring financial income | 75 | €10 | €3,492 | +€3,483 | +36,662% |
| Non-recurring financial income | 76B | - | €3,492 | +€3,492 | |
| Financial charges | 65/66B | €12,202 | €10,182 | -€2,021 | -16.6% |
| Recurring financial charges | 65 | €12,202 | €10,182 | -€2,021 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €23,340 | €37,713 | +€14,373 | +61.6% |
| Income taxes | 67/77 | €5,561 | €8,338 | +€2,777 | +49.9% |
| Profit (loss) for the period | 9904 | €17,779 | €29,374 | +€11,596 | +65.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,779 | €29,374 | +€11,596 | +65.2% |
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 21 October 2026 via checked.be.