HELLINCKX: 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.
HELLINCKX
Largest movements
- Stocks and contracts +€456,920
up €456,920 (+4671.7%), from €9,781 to €466,700
- Cash +€32,035
up €32,035 (+47.7%), from €67,190 to €99,225
mainly Debts after one year (+€407,700) and Trade debts (+€39,770)
- Receivables within one year +€16,579
up €16,579 (+10.4%), from €159,353 to €175,933
of which Other amounts receivable: +€18,086
- Debts after one year +€407,700
up €407,700 (+115.2%), from €353,936 to €761,636
- Trade debts +€39,770
up €39,770 (+136.0%), from €29,237 to €69,006
- Tax, wage and social debts +€30,062
up €30,062 (+704.1%), from €4,270 to €34,331
- Reserves +€28,000
up €28,000 (+47.0%), from €59,610 to €87,610
of which Distributable reserves: +€28,000
- Gross operating margin +€65,042
up €65,042 (+146.6%), from €44,356 to €109,399
- Financial charges +€18,037
up €18,037 (+109.3%), from €16,509 to €34,546
- Other operating charges +€17,970
up €17,970 (+467.1%), from €3,847 to €21,818
- Taxes +€2,440
up €2,440 (+18.5%), from €13,223 to €15,663
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 | €497,874 | €997,155 | +€499,281 | +100.3% |
| Fixed assets | 21/28 | €260,868 | €252,384 | -€8,485 | -3.3% |
| Tangible fixed assets | 22/27 | €260,868 | €252,384 | -€8,485 | -3.3% |
| Land and buildings | 22 | €260,868 | €252,384 | -€8,485 | -3.3% |
| Current assets | 29/58 | €237,006 | €744,772 | +€507,766 | +214.2% |
| Stocks and contracts in progress | 3 | €9,781 | €466,700 | +€456,920 | +4671.7% |
| Stocks | 30/36 | €9,781 | €466,700 | +€456,920 | +4671.7% |
| Amounts receivable within one year | 40/41 | €159,353 | €175,933 | +€16,579 | +10.4% |
| Trade receivables | 40 | €147,796 | €146,290 | -€1,506 | -1.0% |
| Other amounts receivable | 41 | €11,557 | €29,643 | +€18,086 | +156.5% |
| Cash at bank and in hand | 54/58 | €67,190 | €99,225 | +€32,035 | +47.7% |
| Deferred charges and accrued income | 490/1 | €682 | €2,914 | +€2,232 | +327.2% |
| Total equity and liabilities | 10/49 | €497,874 | €997,155 | +€499,281 | +100.3% |
| Equity | 10/15 | €72,110 | €100,999 | +€28,889 | +40.1% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €59,610 | €87,610 | +€28,000 | +47.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €57,750 | €85,750 | +€28,000 | +48.5% |
| Profit (loss) carried forward | 14 | €0 | €889 | +€889 | |
| Amounts payable | 17/49 | €425,764 | €896,156 | +€470,392 | +110.5% |
| Amounts payable after more than one year | 17 | €353,936 | €761,636 | +€407,700 | +115.2% |
| Financial debts | 170/4 | €353,936 | €761,636 | +€407,700 | +115.2% |
| Amounts payable within one year | 42/48 | €71,829 | €134,520 | +€62,692 | +87.3% |
| Current portion of amounts payable after more than one year | 42 | €5,573 | €5,850 | +€276 | +5.0% |
| Financial debts | 43 | - | €63 | +€63 | |
| Credit institutions | 430/8 | - | €63 | +€63 | |
| Trade debts | 44 | €29,237 | €69,006 | +€39,770 | +136.0% |
| Suppliers | 440/4 | €29,237 | €69,006 | +€39,770 | +136.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €4,270 | €34,331 | +€30,062 | +704.1% |
| Taxes | 450/3 | €4,270 | €34,331 | +€30,062 | +704.1% |
| Other amounts payable | 47/48 | €32,749 | €25,269 | -€7,480 | -22.8% |
| Non-recurring operating income | 76A | - | €7,112 | +€7,112 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,485 | €8,485 | = | 0.0% |
| Other operating charges | 640/8 | €3,847 | €21,818 | +€17,970 | +467.1% |
| Gross operating margin | 9900 | €44,356 | €109,399 | +€65,042 | +146.6% |
| Operating profit (loss) | 9901 | €32,024 | €79,096 | +€47,072 | +147.0% |
| Financial income | 75/76B | €432 | €2 | -€430 | -99.6% |
| Recurring financial income | 75 | €432 | €2 | -€430 | -99.6% |
| Financial charges | 65/66B | €16,509 | €34,546 | +€18,037 | +109.3% |
| Recurring financial charges | 65 | €16,509 | €34,546 | +€18,037 | +109.3% |
| Profit (loss) for the period before taxes | 9903 | €15,947 | €44,552 | +€28,605 | +179.4% |
| Income taxes | 67/77 | €13,223 | €15,663 | +€2,440 | +18.5% |
| Profit (loss) for the period | 9904 | €2,725 | €28,889 | +€26,165 | +960.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,725 | €28,889 | +€26,165 | +960.3% |
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 11 October 2026 via checked.be.