HELI-BEL: 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.
HELI-BEL
Largest movements
- Tangible fixed assets -€8,144
down €8,144 (-31.9%), from €25,533 to €17,389
- Deferred charges and accrued income -€892
no longer reported in 2025 (was €892)
- Profit (loss) carried forward -€10,560
down €10,560 (-15.4%), from -€68,722 to -€79,282
- Other debts +€900
up €900 (+1.0%), from €90,889 to €91,789
- Gross operating margin +€21,443
up €21,443 (+93.2%), from -€22,998 to -€1,555
- Taxes +€280
new in 2025: €280
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 | €32,249 | €22,730 | -€9,519 | -29.5% |
| Fixed assets | 21/28 | €25,983 | €17,839 | -€8,144 | -31.3% |
| Tangible fixed assets | 22/27 | €25,533 | €17,389 | -€8,144 | -31.9% |
| Furniture and vehicles | 24 | €25,533 | €17,389 | -€8,144 | -31.9% |
| Financial fixed assets | 28 | €450 | €450 | = | 0.0% |
| Current assets | 29/58 | €6,267 | €4,892 | -€1,375 | -21.9% |
| Amounts receivable within one year | 40/41 | €4,756 | €4,442 | -€315 | -6.6% |
| Trade receivables | 40 | €32 | €32 | = | 0.0% |
| Other amounts receivable | 41 | €4,724 | €4,410 | -€315 | -6.7% |
| Cash at bank and in hand | 54/58 | €618 | €450 | -€168 | -27.2% |
| Deferred charges and accrued income | 490/1 | €892 | - | -€892 | |
| Total equity and liabilities | 10/49 | €32,249 | €22,730 | -€9,519 | -29.5% |
| Equity | 10/15 | -€58,640 | -€69,200 | -€10,560 | -18.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €82 | €82 | = | 0.0% |
| Non-distributable reserves | 130/1 | €82 | €82 | = | 0.0% |
| Reserves not available under the articles | 1311 | €82 | €82 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,722 | -€79,282 | -€10,560 | -15.4% |
| Amounts payable | 17/49 | €90,889 | €91,930 | +€1,041 | +1.1% |
| Amounts payable within one year | 42/48 | €90,889 | €91,930 | +€1,041 | +1.1% |
| Taxes, remuneration and social security | 45 | - | €141 | +€141 | |
| Taxes | 450/3 | - | €141 | +€141 | |
| Other amounts payable | 47/48 | €90,889 | €91,789 | +€900 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,144 | €8,144 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €465 | +€78 | +20.2% |
| Gross operating margin | 9900 | -€22,998 | -€1,555 | +€21,443 | +93.2% |
| Operating profit (loss) | 9901 | -€31,529 | -€10,164 | +€21,365 | +67.8% |
| Financial charges | 65/66B | €157 | €115 | -€41 | -26.3% |
| Recurring financial charges | 65 | €157 | €115 | -€41 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | -€31,685 | -€10,280 | +€21,406 | +67.6% |
| Income taxes | 67/77 | - | €280 | +€280 | |
| Profit (loss) for the period | 9904 | -€31,685 | -€10,560 | +€21,125 | +66.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,685 | -€10,560 | +€21,125 | +66.7% |
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 25 October 2026 via checked.be.