HELDACON: 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.
HELDACON
Largest movements
- Cash -€204,450
down €204,450 (-68.0%), from €300,662 to €96,212
mainly Contributions, distributions and other (-€247,000) and Current investments (-€147,288)
- Current investments +€147,288
up €147,288 (+49.2%), from €299,262 to €446,550
- Receivables within one year +€26,673
up €26,673 (+16.2%), from €165,099 to €191,772
of which Other amounts receivable: +€23,135
- Tangible fixed assets -€20,266
down €20,266 (-9.4%), from €214,649 to €194,382
of which Land and buildings: -€20,047
- Reserves -€108,000
down €108,000 (-13.3%), from €811,860 to €703,860
- Other debts +€73,000
up €73,000 (+104%), from €70,000 to €143,000
- Debts after one year -€21,007
down €21,007 (-16.1%), from €130,429 to €109,422
- Gross operating margin -€27,955
down €27,955 (-11.1%), from €251,163 to €223,208
- Taxes -€7,356
down €7,356 (-10.4%), from €70,688 to €63,332
- Financial income +€6,762
up €6,762 (+110%), from €6,133 to €12,895
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 | €1,126,140 | €1,072,357 | -€53,783 | -4.8% |
| Fixed assets | 21/28 | €216,761 | €194,469 | -€22,291 | -10.3% |
| Intangible fixed assets | 21 | €2,025 | - | -€2,025 | |
| Tangible fixed assets | 22/27 | €214,649 | €194,382 | -€20,266 | -9.4% |
| Land and buildings | 22 | €198,990 | €178,943 | -€20,047 | -10.1% |
| Plant, machinery and equipment | 23 | €3,744 | €3,234 | -€509 | -13.6% |
| Furniture and vehicles | 24 | €11,915 | €12,205 | +€290 | +2.4% |
| Financial fixed assets | 28 | €87 | €87 | = | 0.0% |
| Current assets | 29/58 | €909,380 | €877,888 | -€31,492 | -3.5% |
| Amounts receivable after more than one year | 29 | €140,000 | €140,000 | = | 0.0% |
| Other amounts receivable | 291 | €140,000 | €140,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €165,099 | €191,772 | +€26,673 | +16.2% |
| Trade receivables | 40 | €78,415 | €81,953 | +€3,538 | +4.5% |
| Other amounts receivable | 41 | €86,685 | €109,819 | +€23,135 | +26.7% |
| Current investments | 50/53 | €299,262 | €446,550 | +€147,288 | +49.2% |
| Cash at bank and in hand | 54/58 | €300,662 | €96,212 | -€204,450 | -68.0% |
| Deferred charges and accrued income | 490/1 | €4,356 | €3,354 | -€1,002 | -23.0% |
| Total equity and liabilities | 10/49 | €1,126,140 | €1,072,357 | -€53,783 | -4.8% |
| Equity | 10/15 | €858,177 | €750,331 | -€107,845 | -12.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | - | -€6,200 | |
| Other | 1109/19 | €6,200 | - | -€6,200 | |
| Reserves | 13 | €811,860 | €703,860 | -€108,000 | -13.3% |
| Distributable reserves | 133 | €811,860 | €703,860 | -€108,000 | -13.3% |
| Profit (loss) carried forward | 14 | €40,117 | €40,271 | +€155 | +0.4% |
| Amounts payable | 17/49 | €267,964 | €322,026 | +€54,062 | +20.2% |
| Amounts payable after more than one year | 17 | €130,429 | €109,422 | -€21,007 | -16.1% |
| Financial debts | 170/4 | €130,429 | €109,422 | -€21,007 | -16.1% |
| Amounts payable within one year | 42/48 | €137,535 | €212,604 | +€75,069 | +54.6% |
| Current portion of amounts payable after more than one year | 42 | €20,479 | €28,645 | +€8,166 | +39.9% |
| Financial debts | 43 | €4,247 | - | -€4,247 | |
| Credit institutions | 430/8 | €4,247 | - | -€4,247 | |
| Trade debts | 44 | €4,031 | €9,754 | +€5,723 | +142% |
| Suppliers | 440/4 | €4,031 | €9,754 | +€5,723 | +142% |
| Taxes, remuneration and social security | 45 | €38,778 | €31,205 | -€7,572 | -19.5% |
| Taxes | 450/3 | €36,324 | €28,616 | -€7,708 | -21.2% |
| Remuneration and social security | 454/9 | €2,454 | €2,589 | +€135 | +5.5% |
| Other amounts payable | 47/48 | €70,000 | €143,000 | +€73,000 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,985 | €25,387 | +€402 | +1.6% |
| Other operating charges | 640/8 | €3,054 | €1,979 | -€1,076 | -35.2% |
| Gross operating margin | 9900 | €251,163 | €223,208 | -€27,955 | -11.1% |
| Operating profit (loss) | 9901 | €223,124 | €195,842 | -€27,282 | -12.2% |
| Financial income | 75/76B | €6,133 | €12,895 | +€6,762 | +110% |
| Recurring financial income | 75 | €6,133 | €12,895 | +€6,762 | +110% |
| Financial charges | 65/66B | €5,984 | €6,251 | +€267 | +4.5% |
| Recurring financial charges | 65 | €5,984 | €6,251 | +€267 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €223,272 | €202,486 | -€20,786 | -9.3% |
| Income taxes | 67/77 | €70,688 | €63,332 | -€7,356 | -10.4% |
| Profit (loss) for the period | 9904 | €152,585 | €139,155 | -€13,430 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €152,585 | €139,155 | -€13,430 | -8.8% |
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 14 October 2026 via checked.be.