Heligane: 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
Heligane
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€358,104
2024 · -€140,770-€217,333
Equity
€634,777
2024 · €102,675+€532,102
Cash
€445,000
2024 · €428,044+€16,955
Balance sheet total
€4.7m
2024 · €4.4m+€360,380
Largest movements
Assets
- Tangible fixed assets +€624,543
up €624,543 (+23.9%), from €2.6m to €3.2m
of which Land and buildings: +€781,613
- Financial fixed assets -€98,908
down €98,908 (-99.5%), from €99,408 to €500
- Stocks and contracts -€65,389
down €65,389 (-10.3%), from €634,181 to €568,792
- Intangible fixed assets -€63,697
down €63,697 (-33.3%), from €191,090 to €127,393
Equity and liabilities
- Revaluation surpluses +€890,206
new in 2025: €890,206
- Profit (loss) carried forward -€358,104
down €358,104 (-4,889%), from -€7,325 to -€365,429
- Debts after one year -€162,196
down €162,196 (-5.9%), from €2.7m to €2.6m
of which Financial debts: -€162,196
- Trade debts -€79,417
down €79,417 (-7.9%), from €1.0m to €923,282
- Short-term financial debts -€72,311
down €72,311 (-100%), from €72,311 to €0
Income statement
- Financial charges +€76,038
up €76,038 (+121%), from €63,086 to €139,124
of which Financial charges: +€68,093
- Staff costs +€50,985
up €50,985 (+6.9%), from €742,769 to €793,754
- Gross operating margin -€38,441
down €38,441 (-3.3%), from €1.2m to €1.1m
- Other operating charges +€33,612
up €33,612 (+58.3%), from €57,628 to €91,239
- Depreciation +€28,173
up €28,173 (+7.0%), from €404,235 to €432,409
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
-€140,770
Gross operating margin
-€38,441
Staff costs
-€50,985
Depreciation
-€28,173
Write-downs
-€22,355
Other operating charges
-€33,612
Other operating items
+€52,063
Financial income
-€19,519
Financial charges
-€76,038
Taxes
-€273
Result 2025
-€358,104
lowers the resultnot broken down further in the accounts
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
+€178,515
Investment
-€863,225
Financing
+€701,665
Cash 2024
€428,044
From operations (derived)
+€178,515
Net result for the year
-€358,104
Depreciation
+€432,409
Stocks and contracts
+€65,389
Receivables within one year
+€46,676
Deferred charges and accrued income
-€24,674
Trade debts
-€79,417
Tax, wage and social debts
+€40,326
Advances received
+€47
Accrued charges and deferred income
+€55,863
Investment (derived)
-€863,225
Investment in fixed assets (net)
-€863,225
Financing
+€701,665
Debts after one year
-€162,196
Current portion of long-term debt
+€45,966
Short-term financial debts
-€72,311
Contributions, distributions and other
+€890,206
Cash 2025
€445,000
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,364,285 | €4,724,665 | +€360,380 | +8.3% |
| Formation expenses | 20 | €47,342 | €16,219 | -€31,123 | -65.7% |
| Fixed assets | 21/28 | €2,902,762 | €3,364,701 | +€461,939 | +15.9% |
| Intangible fixed assets | 21 | €191,090 | €127,393 | -€63,697 | -33.3% |
| Tangible fixed assets | 22/27 | €2,612,265 | €3,236,808 | +€624,543 | +23.9% |
| Land and buildings | 22 | €1,473,387 | €2,255,000 | +€781,613 | +53.0% |
| Plant, machinery and equipment | 23 | €695,560 | €615,467 | -€80,093 | -11.5% |
| Furniture and vehicles | 24 | €149,864 | €122,694 | -€27,170 | -18.1% |
| Leasing and similar rights | 25 | €292,292 | €243,167 | -€49,124 | -16.8% |
| Other tangible fixed assets | 26 | €1,162 | €480 | -€682 | -58.7% |
| Financial fixed assets | 28 | €99,408 | €500 | -€98,908 | -99.5% |
| Current assets | 29/58 | €1,414,181 | €1,343,745 | -€70,436 | -5.0% |
| Stocks and contracts in progress | 3 | €634,181 | €568,792 | -€65,389 | -10.3% |
| Stocks | 30/36 | €634,181 | €568,792 | -€65,389 | -10.3% |
| Amounts receivable within one year | 40/41 | €227,999 | €181,322 | -€46,676 | -20.5% |
| Trade receivables | 40 | €146,609 | €145,559 | -€1,049 | -0.7% |
| Other amounts receivable | 41 | €81,390 | €35,763 | -€45,627 | -56.1% |
| Cash at bank and in hand | 54/58 | €428,044 | €445,000 | +€16,955 | +4.0% |
| Deferred charges and accrued income | 490/1 | €123,957 | €148,631 | +€24,674 | +19.9% |
| Total equity and liabilities | 10/49 | €4,364,285 | €4,724,665 | +€360,380 | +8.3% |
| Equity | 10/15 | €102,675 | €634,777 | +€532,102 | +518% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €890,206 | +€890,206 | |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,325 | -€365,429 | -€358,104 | -4,889% |
| Amounts payable | 17/49 | €4,261,610 | €4,089,888 | -€171,722 | -4.0% |
| Amounts payable after more than one year | 17 | €2,749,438 | €2,587,242 | -€162,196 | -5.9% |
| Financial debts | 170/4 | €2,744,381 | €2,582,185 | -€162,196 | -5.9% |
| Other amounts payable | 178/9 | €5,057 | €5,057 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,496,523 | €1,431,134 | -€65,390 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €347,984 | €393,949 | +€45,966 | +13.2% |
| Financial debts | 43 | €72,311 | €0 | -€72,311 | -100% |
| Credit institutions | 430/8 | €72,311 | €0 | -€72,311 | -100% |
| Trade debts | 44 | €1,002,699 | €923,282 | -€79,417 | -7.9% |
| Suppliers | 440/4 | €1,002,699 | €923,282 | -€79,417 | -7.9% |
| Advances received on contracts in progress | 46 | - | €47 | +€47 | |
| Taxes, remuneration and social security | 45 | €73,529 | €113,855 | +€40,326 | +54.8% |
| Taxes | 450/3 | €809 | €3,594 | +€2,785 | +344% |
| Remuneration and social security | 454/9 | €72,720 | €110,261 | +€37,541 | +51.6% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €15,650 | €71,512 | +€55,863 | +357% |
| Non-recurring operating income | 76A | €84,813 | €38,219 | -€46,595 | -54.9% |
| Remuneration, social security and pensions | 62 | €742,769 | €793,754 | +€50,985 | +6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €404,235 | €432,409 | +€28,173 | +7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €22,355 | +€22,355 | |
| Other operating charges | 640/8 | €57,628 | €91,239 | +€33,612 | +58.3% |
| Non-recurring operating charges | 66A | €55,633 | €3,570 | -€52,063 | -93.6% |
| Gross operating margin | 9900 | €1,154,671 | €1,116,230 | -€38,441 | -3.3% |
| Operating profit (loss) | 9901 | -€105,594 | -€227,097 | -€121,504 | -115% |
| Financial income | 75/76B | €28,325 | €8,807 | -€19,519 | -68.9% |
| Recurring financial income | 75 | €28,325 | €8,807 | -€19,519 | -68.9% |
| Financial charges | 65/66B | €63,086 | €139,124 | +€76,038 | +121% |
| Recurring financial charges | 65 | €63,086 | €131,179 | +€68,093 | +108% |
| Non-recurring financial charges | 66B | €0 | €7,945 | +€7,945 | |
| Profit (loss) for the period before taxes | 9903 | -€140,355 | -€357,415 | -€217,060 | -155% |
| Income taxes | 67/77 | €415 | €689 | +€273 | +65.8% |
| Profit (loss) for the period | 9904 | -€140,770 | -€358,104 | -€217,333 | -154% |
| Profit (loss) for the period to be appropriated | 9905 | -€140,770 | -€358,104 | -€217,333 | -154% |
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 15 October 2026 via checked.be.