HELENE: 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.
HELENE
Largest movements
- Tangible fixed assets +€48,116
up €48,116 (+11.9%), from €405,381 to €453,498
of which Land and buildings: +€25,560
- Cash -€26,658
down €26,658 (-12.2%), from €218,457 to €191,799
mainly Contributions, distributions and other (-€141,992) and Investment in fixed assets (net) (-€96,751)
- Receivables after one year -€8,193
down €8,193 (-100%), from €8,193 to €0
- Other debts +€92,203
up €92,203 (+133%), from €69,419 to €161,623
- Reserves -€68,895
down €68,895 (-20.1%), from €342,886 to €273,991
- Trade debts +€12,322
up €12,322 (+15.0%), from €82,338 to €94,660
- Debts after one year -€11,173
down €11,173 (-6.7%), from €165,645 to €154,472
- Tax, wage and social debts -€9,851
down €9,851 (-13.0%), from €75,996 to €66,145
of which Taxes: -€17,094
- Staff costs +€54,152
up €54,152 (+15.0%), from €361,375 to €415,528
- Gross operating margin +€40,702
up €40,702 (+7.1%), from €571,009 to €611,711
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 | €754,046 | €769,980 | +€15,935 | +2.1% |
| Fixed assets | 21/28 | €445,381 | €493,498 | +€48,116 | +10.8% |
| Tangible fixed assets | 22/27 | €405,381 | €453,498 | +€48,116 | +11.9% |
| Land and buildings | 22 | €333,096 | €358,656 | +€25,560 | +7.7% |
| Plant, machinery and equipment | 23 | €60,796 | €77,979 | +€17,184 | +28.3% |
| Furniture and vehicles | 24 | €6,369 | €12,701 | +€6,332 | +99.4% |
| Other tangible fixed assets | 26 | €5,120 | €4,161 | -€959 | -18.7% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €308,665 | €276,483 | -€32,182 | -10.4% |
| Amounts receivable after more than one year | 29 | €8,193 | €0 | -€8,193 | -100% |
| Other amounts receivable | 291 | €8,193 | €0 | -€8,193 | -100% |
| Stocks and contracts in progress | 3 | €20,000 | €20,000 | = | 0.0% |
| Stocks | 30/36 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,842 | €50,735 | +€1,894 | +3.9% |
| Trade receivables | 40 | €6,522 | €9,667 | +€3,145 | +48.2% |
| Other amounts receivable | 41 | €42,319 | €41,068 | -€1,251 | -3.0% |
| Current investments | 50/53 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €218,457 | €191,799 | -€26,658 | -12.2% |
| Deferred charges and accrued income | 490/1 | €12,174 | €12,948 | +€775 | +6.4% |
| Total equity and liabilities | 10/49 | €754,046 | €769,980 | +€15,935 | +2.1% |
| Equity | 10/15 | €343,136 | €274,241 | -€68,895 | -20.1% |
| Contributions | 10/11 | €250 | €250 | = | 0.0% |
| Reserves | 13 | €342,886 | €273,991 | -€68,895 | -20.1% |
| Distributable reserves | 133 | €342,886 | €273,991 | -€68,895 | -20.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €410,910 | €495,739 | +€84,829 | +20.6% |
| Amounts payable after more than one year | 17 | €165,645 | €154,472 | -€11,173 | -6.7% |
| Financial debts | 170/4 | €165,645 | €154,472 | -€11,173 | -6.7% |
| Amounts payable within one year | 42/48 | €245,265 | €333,972 | +€88,707 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €10,751 | €11,173 | +€422 | +3.9% |
| Financial debts | 43 | €6,760 | €371 | -€6,389 | -94.5% |
| Credit institutions | 430/8 | €6,760 | €371 | -€6,389 | -94.5% |
| Trade debts | 44 | €82,338 | €94,660 | +€12,322 | +15.0% |
| Suppliers | 440/4 | €82,338 | €94,660 | +€12,322 | +15.0% |
| Taxes, remuneration and social security | 45 | €75,996 | €66,145 | -€9,851 | -13.0% |
| Taxes | 450/3 | €36,818 | €19,725 | -€17,094 | -46.4% |
| Remuneration and social security | 454/9 | €39,178 | €46,420 | +€7,242 | +18.5% |
| Other amounts payable | 47/48 | €69,419 | €161,623 | +€92,203 | +133% |
| Accrued charges and deferred income | 492/3 | - | €7,295 | +€7,295 | |
| Remuneration, social security and pensions | 62 | €361,375 | €415,528 | +€54,152 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,405 | €48,635 | -€5,771 | -10.6% |
| Other operating charges | 640/8 | €9,826 | €11,445 | +€1,620 | +16.5% |
| Gross operating margin | 9900 | €571,009 | €611,711 | +€40,702 | +7.1% |
| Operating profit (loss) | 9901 | €145,402 | €136,104 | -€9,299 | -6.4% |
| Financial income | 75/76B | €3,149 | €2,839 | -€310 | -9.9% |
| Recurring financial income | 75 | €3,149 | €2,839 | -€310 | -9.9% |
| Financial charges | 65/66B | €27,242 | €27,446 | +€204 | +0.7% |
| Recurring financial charges | 65 | €27,242 | €27,446 | +€204 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €121,310 | €111,496 | -€9,814 | -8.1% |
| Income taxes | 67/77 | €40,800 | €38,399 | -€2,401 | -5.9% |
| Profit (loss) for the period | 9904 | €80,510 | €73,097 | -€7,413 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €80,510 | €73,097 | -€7,413 | -9.2% |
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 13 October 2026 via checked.be.