HELFI: what changed
Two fiscal 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.
HELFI
Largest movements
- Receivables within one year +€36,884
up €36,884 (+26.5%), from €139,303 to €176,187
- Tangible fixed assets -€8,197
down €8,197 (-2.6%), from €310,017 to €301,820
of which Furniture and vehicles: -€5,112
- Reserves +€26,704
up €26,704 (+9.3%), from €287,466 to €314,170
of which Distributable reserves: +€26,704
- Other operating charges -€5,197
down €5,197 (-24.5%), from €21,217 to €16,020
- Gross operating margin -€2,816
down €2,816 (-4.6%), from €61,004 to €58,189
- Taxes -€1,435
down €1,435 (-13.6%), from €10,563 to €9,128
- Depreciation +€787
up €787 (+5.7%), from €13,746 to €14,532
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.
Cash bridge derived
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 | €776,406 | €800,311 | +€23,904 | +3.1% |
| Fixed assets | 21/28 | €310,017 | €301,820 | -€8,197 | -2.6% |
| Tangible fixed assets | 22/27 | €310,017 | €301,820 | -€8,197 | -2.6% |
| Land and buildings | 22 | €293,819 | €291,951 | -€1,868 | -0.6% |
| Plant, machinery and equipment | 23 | €3,526 | €2,309 | -€1,217 | -34.5% |
| Furniture and vehicles | 24 | €6,672 | €1,561 | -€5,112 | -76.6% |
| Other tangible fixed assets | 26 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €466,389 | €498,491 | +€32,102 | +6.9% |
| Amounts receivable within one year | 40/41 | €139,303 | €176,187 | +€36,884 | +26.5% |
| Other amounts receivable | 41 | €139,303 | €176,187 | +€36,884 | +26.5% |
| Current investments | 50/53 | €290,889 | €290,889 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €32,078 | €26,702 | -€5,377 | -16.8% |
| Deferred charges and accrued income | 490/1 | €4,119 | €4,713 | +€594 | +14.4% |
| Total equity and liabilities | 10/49 | €776,406 | €800,311 | +€23,904 | +3.1% |
| Equity | 10/15 | €769,619 | €796,323 | +€26,704 | +3.5% |
| Contributions | 10/11 | €482,153 | €482,153 | = | 0.0% |
| Capital | 10 | €482,153 | €482,153 | = | 0.0% |
| Issued capital | 100 | €482,153 | €482,153 | = | 0.0% |
| Reserves | 13 | €287,466 | €314,170 | +€26,704 | +9.3% |
| Non-distributable reserves | 130/1 | €48,215 | €48,215 | = | 0.0% |
| Legal reserve | 130 | €48,215 | €48,215 | = | 0.0% |
| Distributable reserves | 133 | €239,251 | €265,955 | +€26,704 | +11.2% |
| Amounts payable | 17/49 | €6,787 | €3,988 | -€2,799 | -41.2% |
| Amounts payable within one year | 42/48 | €6,787 | €3,988 | -€2,799 | -41.2% |
| Trade debts | 44 | €3,724 | €925 | -€2,799 | -75.2% |
| Suppliers | 440/4 | €3,724 | €925 | -€2,799 | -75.2% |
| Taxes, remuneration and social security | 45 | €3,063 | €3,063 | = | 0.0% |
| Taxes | 450/3 | €3,063 | €3,063 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,746 | €14,532 | +€787 | +5.7% |
| Other operating charges | 640/8 | €21,217 | €16,020 | -€5,197 | -24.5% |
| Gross operating margin | 9900 | €61,004 | €58,189 | -€2,816 | -4.6% |
| Operating profit (loss) | 9901 | €26,042 | €27,637 | +€1,594 | +6.1% |
| Financial income | 75/76B | €7,925 | €8,525 | +€600 | +7.6% |
| Recurring financial income | 75 | €7,925 | €8,525 | +€600 | +7.6% |
| Financial charges | 65/66B | €301 | €330 | +€29 | +9.6% |
| Recurring financial charges | 65 | €301 | €330 | +€29 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €33,666 | €35,831 | +€2,165 | +6.4% |
| Income taxes | 67/77 | €10,563 | €9,128 | -€1,435 | -13.6% |
| Profit (loss) for the period | 9904 | €23,103 | €26,704 | +€3,601 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,103 | €26,704 | +€3,601 | +15.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.