HELDER: 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.
HELDER
Largest movements
- Tangible fixed assets -€5,432
down €5,432 (-18.0%), from €30,242 to €24,811
- Intangible fixed assets -€600
down €600 (-30.9%), from €1,941 to €1,341
- Cash +€387
up €387 (+458%), from €84 to €472
mainly Depreciation (+€6,032) and Tax, wage and social debts (+€205)
- Profit (loss) carried forward -€3,862
down €3,862 (-13.1%), from -€29,402 to -€33,264
- Other debts -€1,721
down €1,721 (-8.8%), from €19,485 to €17,764
- Trade debts -€688
down €688 (-26.3%), from €2,621 to €1,932
- Gross operating margin +€3,953
up €3,953 (+1,369%), from €289 to €4,242
- Depreciation +€279
up €279 (+4.9%), from €5,753 to €6,032
- Other operating charges -€111
down €111 (-5.3%), from €2,114 to €2,003
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 | €34,401 | €28,334 | -€6,067 | -17.6% |
| Fixed assets | 21/28 | €32,434 | €26,402 | -€6,032 | -18.6% |
| Intangible fixed assets | 21 | €1,941 | €1,341 | -€600 | -30.9% |
| Tangible fixed assets | 22/27 | €30,242 | €24,811 | -€5,432 | -18.0% |
| Land and buildings | 22 | €7,467 | €6,400 | -€1,067 | -14.3% |
| Plant, machinery and equipment | 23 | €7,789 | €6,141 | -€1,648 | -21.2% |
| Furniture and vehicles | 24 | €5,551 | €4,344 | -€1,207 | -21.7% |
| Other tangible fixed assets | 26 | €9,436 | €7,926 | -€1,510 | -16.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,967 | €1,932 | -€35 | -1.8% |
| Stocks and contracts in progress | 3 | €590 | €460 | -€130 | -22.0% |
| Stocks | 30/36 | €590 | €460 | -€130 | -22.0% |
| Amounts receivable within one year | 40/41 | €841 | €653 | -€187 | -22.3% |
| Trade receivables | 40 | - | €653 | +€653 | |
| Other amounts receivable | 41 | €841 | - | -€841 | |
| Cash at bank and in hand | 54/58 | €84 | €472 | +€387 | +458% |
| Deferred charges and accrued income | 490/1 | €452 | €347 | -€105 | -23.2% |
| Total equity and liabilities | 10/49 | €34,401 | €28,334 | -€6,067 | -17.6% |
| Equity | 10/15 | €11,518 | €7,656 | -€3,862 | -33.5% |
| Contributions | 10/11 | €39,060 | €39,060 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,402 | -€33,264 | -€3,862 | -13.1% |
| Amounts payable | 17/49 | €22,883 | €20,678 | -€2,205 | -9.6% |
| Amounts payable within one year | 42/48 | €22,883 | €20,678 | -€2,205 | -9.6% |
| Trade debts | 44 | €2,621 | €1,932 | -€688 | -26.3% |
| Suppliers | 440/4 | €2,621 | €1,932 | -€688 | -26.3% |
| Taxes, remuneration and social security | 45 | €776 | €981 | +€205 | +26.4% |
| Taxes | 450/3 | €776 | €981 | +€205 | +26.4% |
| Other amounts payable | 47/48 | €19,485 | €17,764 | -€1,721 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,753 | €6,032 | +€279 | +4.9% |
| Other operating charges | 640/8 | €2,114 | €2,003 | -€111 | -5.3% |
| Gross operating margin | 9900 | €289 | €4,242 | +€3,953 | +1,369% |
| Operating profit (loss) | 9901 | -€7,578 | -€3,793 | +€3,785 | +49.9% |
| Financial charges | 65/66B | €74 | €69 | -€4 | -6.1% |
| Recurring financial charges | 65 | €74 | €69 | -€4 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,651 | -€3,862 | +€3,789 | +49.5% |
| Profit (loss) for the period | 9904 | -€7,651 | -€3,862 | +€3,789 | +49.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,651 | -€3,862 | +€3,789 | +49.5% |
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 21 October 2026 via checked.be.