HELIMAR: 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.
HELIMAR
Largest movements
- Financial fixed assets -€300,000
down €300,000 (-21.7%), from €1.4m to €1.1m
- Current investments +€250,220
up €250,220, from €0 to €250,220
- Receivables within one year -€184,356
down €184,356 (-57.9%), from €318,369 to €134,013
of which Other amounts receivable: -€188,037
- Tangible fixed assets -€146,898
down €146,898 (-6.2%), from €2.4m to €2.2m
- Cash -€68,960
down €68,960 (-43.1%), from €159,934 to €90,974
mainly Current investments (-€250,220) and Tax, wage and social debts (-€244,122)
- Tax, wage and social debts -€244,122
down €244,122 (-96.7%), from €252,437 to €8,315
- Debts after one year -€129,562
down €129,562 (-18.7%), from €691,237 to €561,675
- Profit (loss) carried forward -€77,106
down €77,106, from €9,186 to -€67,919
- Depreciation +€55,298
up €55,298 (+45.7%), from €121,062 to €176,361
- Gross operating margin -€41,706
down €41,706 (-28.5%), from €146,082 to €104,376
- Other operating charges -€38,463
down €38,463 (-78.5%), from €49,018 to €10,555
- Financial income +€34,267
up €34,267 (+189.5%), from €18,079 to €52,346
- Taxes +€26,008
up €26,008, from -€3,605 to €22,403
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 | €4,258,197 | €3,807,903 | -€450,294 | -10.6% |
| Fixed assets | 21/28 | €3,746,950 | €3,300,052 | -€446,898 | -11.9% |
| Tangible fixed assets | 22/27 | €2,361,781 | €2,214,883 | -€146,898 | -6.2% |
| Land and buildings | 22 | €1,635,541 | €1,608,128 | -€27,413 | -1.7% |
| Plant, machinery and equipment | 23 | €106,748 | €54,140 | -€52,608 | -49.3% |
| Furniture and vehicles | 24 | €19,265 | €15,521 | -€3,744 | -19.4% |
| Leasing and similar rights | 25 | €584,972 | €525,127 | -€59,846 | -10.2% |
| Other tangible fixed assets | 26 | €15,254 | €11,967 | -€3,287 | -21.5% |
| Financial fixed assets | 28 | €1,385,170 | €1,085,170 | -€300,000 | -21.7% |
| Current assets | 29/58 | €511,247 | €507,851 | -€3,396 | -0.7% |
| Stocks and contracts in progress | 3 | €12,000 | €18,000 | +€6,000 | +50.0% |
| Stocks | 30/36 | €12,000 | €18,000 | +€6,000 | +50.0% |
| Amounts receivable within one year | 40/41 | €318,369 | €134,013 | -€184,356 | -57.9% |
| Trade receivables | 40 | €88,376 | €92,057 | +€3,681 | +4.2% |
| Other amounts receivable | 41 | €229,993 | €41,956 | -€188,037 | -81.8% |
| Current investments | 50/53 | €0 | €250,220 | +€250,220 | |
| Cash at bank and in hand | 54/58 | €159,934 | €90,974 | -€68,960 | -43.1% |
| Deferred charges and accrued income | 490/1 | €20,944 | €14,643 | -€6,301 | -30.1% |
| Total equity and liabilities | 10/49 | €4,258,197 | €3,807,903 | -€450,294 | -10.6% |
| Equity | 10/15 | €3,162,186 | €3,085,081 | -€77,106 | -2.4% |
| Contributions | 10/11 | €610,000 | €610,000 | = | 0.0% |
| Reserves | 13 | €2,543,000 | €2,543,000 | = | 0.0% |
| Distributable reserves | 133 | €2,543,000 | €2,543,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,186 | -€67,919 | -€77,106 | |
| Amounts payable | 17/49 | €1,096,011 | €722,822 | -€373,189 | -34.0% |
| Amounts payable after more than one year | 17 | €691,237 | €561,675 | -€129,562 | -18.7% |
| Financial debts | 170/4 | €691,237 | €561,675 | -€129,562 | -18.7% |
| Amounts payable within one year | 42/48 | €404,773 | €161,147 | -€243,626 | -60.2% |
| Current portion of amounts payable after more than one year | 42 | €145,493 | €129,562 | -€15,931 | -10.9% |
| Trade debts | 44 | €5,920 | €22,346 | +€16,427 | +277.5% |
| Suppliers | 440/4 | €5,920 | €22,346 | +€16,427 | +277.5% |
| Taxes, remuneration and social security | 45 | €252,437 | €8,315 | -€244,122 | -96.7% |
| Taxes | 450/3 | €252,437 | €8,315 | -€244,122 | -96.7% |
| Other amounts payable | 47/48 | €923 | €923 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,062 | €176,361 | +€55,298 | +45.7% |
| Other operating charges | 640/8 | €49,018 | €10,555 | -€38,463 | -78.5% |
| Non-recurring operating charges | 66A | €855 | €0 | -€855 | -100.0% |
| Gross operating margin | 9900 | €146,082 | €104,376 | -€41,706 | -28.5% |
| Operating profit (loss) | 9901 | -€24,853 | -€82,539 | -€57,686 | -232.1% |
| Financial income | 75/76B | €18,079 | €52,346 | +€34,267 | +189.5% |
| Recurring financial income | 75 | €18,079 | €52,346 | +€34,267 | +189.5% |
| Financial charges | 65/66B | €19,104 | €24,509 | +€5,406 | +28.3% |
| Recurring financial charges | 65 | €19,104 | €24,509 | +€5,406 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | -€25,878 | -€54,703 | -€28,825 | -111.4% |
| Income taxes | 67/77 | -€3,605 | €22,403 | +€26,008 | |
| Profit (loss) for the period | 9904 | -€22,273 | -€77,106 | -€54,833 | -246.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,273 | -€77,106 | -€54,833 | -246.2% |
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.