HELEPHAR: 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.
HELEPHAR
Largest movements
- Cash +€17,629
up €17,629 (+143%), from €12,288 to €29,917
mainly Net result for the year (+€21,919) and Receivables within one year (+€6,754)
- Tangible fixed assets +€7,346
new in 2025: €7,346
- Receivables within one year -€6,754
down €6,754 (-36.0%), from €18,781 to €12,028
of which Other amounts receivable: -€8,755
- Current investments +€5,022
new in 2025: €5,022
- Reserves +€21,086
up €21,086 (+254%), from €8,312 to €29,399
- Tax, wage and social debts +€2,602
up €2,602 (+16.8%), from €15,504 to €18,107
of which Taxes: +€3,348
- Trade debts -€817
down €817 (-53.7%), from €1,523 to €706
- Other debts +€640
up €640 (+74.5%), from €859 to €1,499
- Gross operating margin +€16,319
up €16,319 (+123%), from €13,320 to €29,638
- Taxes +€3,283
up €3,283 (+88.4%), from €3,716 to €6,999
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 | €31,808 | €55,332 | +€23,524 | +74.0% |
| Fixed assets | 21/28 | - | €7,346 | +€7,346 | |
| Tangible fixed assets | 22/27 | - | €7,346 | +€7,346 | |
| Other tangible fixed assets | 26 | - | €7,346 | +€7,346 | |
| Current assets | 29/58 | €31,808 | €47,987 | +€16,178 | +50.9% |
| Amounts receivable within one year | 40/41 | €18,781 | €12,028 | -€6,754 | -36.0% |
| Trade receivables | 40 | €10,026 | €12,028 | +€2,001 | +20.0% |
| Other amounts receivable | 41 | €8,755 | €0 | -€8,755 | -100% |
| Current investments | 50/53 | - | €5,022 | +€5,022 | |
| Cash at bank and in hand | 54/58 | €12,288 | €29,917 | +€17,629 | +143% |
| Deferred charges and accrued income | 490/1 | €739 | €1,019 | +€281 | +38.0% |
| Total equity and liabilities | 10/49 | €31,808 | €55,332 | +€23,524 | +74.0% |
| Equity | 10/15 | €13,312 | €34,399 | +€21,086 | +158% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,312 | €29,399 | +€21,086 | +254% |
| Distributable reserves | 133 | €8,312 | €29,399 | +€21,086 | +254% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €18,496 | €20,934 | +€2,438 | +13.2% |
| Amounts payable within one year | 42/48 | €17,886 | €20,311 | +€2,425 | +13.6% |
| Trade debts | 44 | €1,523 | €706 | -€817 | -53.7% |
| Suppliers | 440/4 | €1,523 | €706 | -€817 | -53.7% |
| Taxes, remuneration and social security | 45 | €15,504 | €18,107 | +€2,602 | +16.8% |
| Taxes | 450/3 | €11,949 | €15,297 | +€3,348 | +28.0% |
| Remuneration and social security | 454/9 | €3,555 | €2,810 | -€745 | -21.0% |
| Other amounts payable | 47/48 | €859 | €1,499 | +€640 | +74.5% |
| Accrued charges and deferred income | 492/3 | €610 | €623 | +€13 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €154 | +€154 | |
| Other operating charges | 640/8 | €387 | €609 | +€221 | +57.2% |
| Gross operating margin | 9900 | €13,320 | €29,638 | +€16,319 | +123% |
| Operating profit (loss) | 9901 | €12,932 | €28,875 | +€15,943 | +123% |
| Financial income | 75/76B | €13 | €168 | +€155 | +1,194% |
| Recurring financial income | 75 | €13 | €168 | +€155 | +1,194% |
| Financial charges | 65/66B | €58 | €125 | +€67 | +116% |
| Recurring financial charges | 65 | €58 | €125 | +€67 | +116% |
| Profit (loss) for the period before taxes | 9903 | €12,887 | €28,918 | +€16,031 | +124% |
| Income taxes | 67/77 | €3,716 | €6,999 | +€3,283 | +88.4% |
| Profit (loss) for the period | 9904 | €9,171 | €21,919 | +€12,748 | +139% |
| Profit (loss) for the period to be appropriated | 9905 | €9,171 | €21,919 | +€12,748 | +139% |
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.