HELIANTHEME: 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.
What changed
HELIANTHEME
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€54,311
2024 · -€38,909-€15,402
Equity
-€289,416
2024 · -€235,105-€54,311
Cash
€11,292
2024 · €21,433-€10,141
Balance sheet total
€3.7m
2024 · €3.8m-€148,184
Largest movements
Assets
- Tangible fixed assets -€138,518
down €138,518 (-3.7%), from €3.8m to €3.6m
of which Land and buildings: -€138,010
Equity and liabilities
- Debts after one year -€89,103
down €89,103 (-2.3%), from €3.9m to €3.9m
of which Financial debts: -€89,103
- Profit (loss) carried forward -€54,311
down €54,311 (-21.3%), from -€255,105 to -€309,416
Income statement
- Gross operating margin -€14,446
down €14,446 (-11.0%), from €131,263 to €116,817
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.
Result 2024
-€38,909
Gross operating margin
-€14,446
Depreciation
-€750
Other operating charges
-€268
Financial income
-€19
Financial charges
+€82
Taxes
-€1
Result 2025
-€54,311
raises the resultlowers the result
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.
From operations
+€86,773
Investment
-€9,052
Financing
-€87,862
Cash 2024
€21,433
From operations (derived)
+€86,773
Net result for the year
-€54,311
Depreciation
+€147,570
Smaller working-capital items
-€475
Trade debts
-€6,383
Other debts
-€1,000
Accrued charges and deferred income
+€1,373
Investment (derived)
-€9,052
Investment in fixed assets (net)
-€9,052
Financing
-€87,862
Debts after one year
-€89,103
Current portion of long-term debt
+€1,241
Cash 2025
€11,292
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,819,057 | €3,670,873 | -€148,184 | -3.9% |
| Fixed assets | 21/28 | €3,792,634 | €3,654,116 | -€138,518 | -3.7% |
| Tangible fixed assets | 22/27 | €3,779,634 | €3,641,116 | -€138,518 | -3.7% |
| Land and buildings | 22 | €3,779,126 | €3,641,116 | -€138,010 | -3.7% |
| Plant, machinery and equipment | 23 | €509 | €0 | -€509 | -100% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €13,000 | €13,000 | = | 0.0% |
| Current assets | 29/58 | €26,423 | €16,757 | -€9,666 | -36.6% |
| Amounts receivable within one year | 40/41 | €6 | €229 | +€223 | +3,491% |
| Trade receivables | 40 | €0 | €223 | +€223 | |
| Other amounts receivable | 41 | €6 | €6 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €21,433 | €11,292 | -€10,141 | -47.3% |
| Deferred charges and accrued income | 490/1 | €4,983 | €5,236 | +€253 | +5.1% |
| Total equity and liabilities | 10/49 | €3,819,057 | €3,670,873 | -€148,184 | -3.9% |
| Equity | 10/15 | -€235,105 | -€289,416 | -€54,311 | -23.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€255,105 | -€309,416 | -€54,311 | -21.3% |
| Amounts payable | 17/49 | €4,054,162 | €3,960,289 | -€93,872 | -2.3% |
| Amounts payable after more than one year | 17 | €3,941,863 | €3,852,760 | -€89,103 | -2.3% |
| Financial debts | 170/4 | €691,566 | €602,463 | -€89,103 | -12.9% |
| Other amounts payable | 178/9 | €3,250,297 | €3,250,297 | = | 0.0% |
| Amounts payable within one year | 42/48 | €111,308 | €105,166 | -€6,142 | -5.5% |
| Current portion of amounts payable after more than one year | 42 | €87,862 | €89,103 | +€1,241 | +1.4% |
| Trade debts | 44 | €7,572 | €1,189 | -€6,383 | -84.3% |
| Suppliers | 440/4 | €7,572 | €1,189 | -€6,383 | -84.3% |
| Other amounts payable | 47/48 | €15,874 | €14,874 | -€1,000 | -6.3% |
| Accrued charges and deferred income | 492/3 | €990 | €2,363 | +€1,373 | +139% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,820 | €147,570 | +€750 | +0.5% |
| Other operating charges | 640/8 | €11,958 | €12,226 | +€268 | +2.2% |
| Gross operating margin | 9900 | €131,263 | €116,817 | -€14,446 | -11.0% |
| Operating profit (loss) | 9901 | -€27,515 | -€42,980 | -€15,465 | -56.2% |
| Financial income | 75/76B | €21 | €2 | -€19 | -91.7% |
| Recurring financial income | 75 | €21 | €2 | -€19 | -91.7% |
| Financial charges | 65/66B | €11,415 | €11,333 | -€82 | -0.7% |
| Recurring financial charges | 65 | €11,415 | €11,333 | -€82 | -0.7% |
| Profit (loss) for the period before taxes | 9903 | -€38,909 | -€54,311 | -€15,402 | -39.6% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€38,909 | -€54,311 | -€15,402 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,909 | -€54,311 | -€15,402 | -39.6% |
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 24 October 2026 via checked.be.