HELIN: 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.
HELIN
Largest movements
- Receivables within one year +€50,583
up €50,583 (+286%), from €17,708 to €68,291
of which Trade receivables: +€25,507
- Tangible fixed assets +€3,940
up €3,940 (+8.4%), from €46,899 to €50,839
of which Plant, machinery and equipment: +€3,721
- Profit (loss) carried forward +€29,772
up €29,772 (+114%), from €26,079 to €55,851
- Trade debts +€23,910
up €23,910 (+791%), from €3,023 to €26,933
- Debts after one year -€7,820
down €7,820 (-42.6%), from €18,378 to €10,558
- Tax, wage and social debts +€7,430
up €7,430 (+221%), from €3,361 to €10,791
of which Taxes: +€7,430
- Gross operating margin +€22,261
up €22,261 (+85.1%), from €26,164 to €48,425
- Depreciation -€5,078
down €5,078 (-41.4%), from €12,274 to €7,196
- Taxes +€4,523
up €4,523 (+146%), from €3,089 to €7,613
- Staff costs +€1,676
new in 2025: €1,676
- Financial income +€1,282
up €1,282 (+2,796%), from €46 to €1,328
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 | €75,618 | €129,324 | +€53,706 | +71.0% |
| Fixed assets | 21/28 | €47,375 | €51,315 | +€3,940 | +8.3% |
| Tangible fixed assets | 22/27 | €46,899 | €50,839 | +€3,940 | +8.4% |
| Plant, machinery and equipment | 23 | €22,587 | €26,308 | +€3,721 | +16.5% |
| Furniture and vehicles | 24 | €967 | €4,050 | +€3,083 | +319% |
| Other tangible fixed assets | 26 | €23,345 | €20,481 | -€2,864 | -12.3% |
| Financial fixed assets | 28 | €476 | €476 | = | 0.0% |
| Current assets | 29/58 | €28,244 | €78,009 | +€49,766 | +176% |
| Stocks and contracts in progress | 3 | €6,211 | €5,976 | -€235 | -3.8% |
| Stocks | 30/36 | €6,211 | €5,976 | -€235 | -3.8% |
| Amounts receivable within one year | 40/41 | €17,708 | €68,291 | +€50,583 | +286% |
| Trade receivables | 40 | €4,520 | €30,028 | +€25,507 | +564% |
| Other amounts receivable | 41 | €13,188 | €38,264 | +€25,076 | +190% |
| Cash at bank and in hand | 54/58 | €4,198 | €3,607 | -€591 | -14.1% |
| Deferred charges and accrued income | 490/1 | €127 | €135 | +€9 | +7.0% |
| Total equity and liabilities | 10/49 | €75,618 | €129,324 | +€53,706 | +71.0% |
| Equity | 10/15 | €43,450 | €73,222 | +€29,772 | +68.5% |
| Contributions | 10/11 | €16,300 | €16,300 | = | 0.0% |
| Reserves | 13 | €1,071 | €1,071 | = | 0.0% |
| Distributable reserves | 133 | €1,071 | €1,071 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,079 | €55,851 | +€29,772 | +114% |
| Amounts payable | 17/49 | €32,168 | €56,102 | +€23,934 | +74.4% |
| Amounts payable after more than one year | 17 | €18,378 | €10,558 | -€7,820 | -42.6% |
| Financial debts | 170/4 | €18,378 | €10,558 | -€7,820 | -42.6% |
| Amounts payable within one year | 42/48 | €13,790 | €45,544 | +€31,754 | +230% |
| Current portion of amounts payable after more than one year | 42 | €7,406 | €7,820 | +€414 | +5.6% |
| Trade debts | 44 | €3,023 | €26,933 | +€23,910 | +791% |
| Suppliers | 440/4 | €3,023 | €26,933 | +€23,910 | +791% |
| Taxes, remuneration and social security | 45 | €3,361 | €10,791 | +€7,430 | +221% |
| Taxes | 450/3 | €3,361 | €10,791 | +€7,430 | +221% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €6,028 | +€6,028 | |
| Remuneration, social security and pensions | 62 | - | €1,676 | +€1,676 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,274 | €7,196 | -€5,078 | -41.4% |
| Other operating charges | 640/8 | €1,334 | €1,222 | -€113 | -8.4% |
| Gross operating margin | 9900 | €26,164 | €48,425 | +€22,261 | +85.1% |
| Operating profit (loss) | 9901 | €12,556 | €38,332 | +€25,776 | +205% |
| Financial income | 75/76B | €46 | €1,328 | +€1,282 | +2,796% |
| Recurring financial income | 75 | €46 | €1,328 | +€1,282 | +2,796% |
| Financial charges | 65/66B | €1,830 | €2,275 | +€445 | +24.3% |
| Recurring financial charges | 65 | €1,830 | €2,121 | +€291 | +15.9% |
| Non-recurring financial charges | 66B | - | €154 | +€154 | |
| Profit (loss) for the period before taxes | 9903 | €10,772 | €37,384 | +€26,613 | +247% |
| Income taxes | 67/77 | €3,089 | €7,613 | +€4,523 | +146% |
| Profit (loss) for the period | 9904 | €7,682 | €29,772 | +€22,090 | +288% |
| Profit (loss) for the period to be appropriated | 9905 | €7,682 | €29,772 | +€22,090 | +288% |
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 17 October 2026 via checked.be.