HELLYN: 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.
What changed
HELLYN
NACE 18.120, Other printing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€14,026
2024 · -€156,857+€170,883
Equity
€69,687
2024 · €55,661+€14,026
Cash
€79,813
2024 · €71,012+€8,801
Balance sheet total
€1.7m
2024 · €1.5m+€142,959
Largest movements
Assets
- Receivables within one year +€131,648
up €131,648 (+20.5%), from €640,786 to €772,434
of which Other amounts receivable: +€100,000
- Tangible fixed assets -€31,121
down €31,121 (-7.5%), from €416,991 to €385,869
of which Plant, machinery and equipment: -€31,067
- Stocks and contracts +€24,215
up €24,215 (+6.3%), from €383,894 to €408,109
Equity and liabilities
- Short-term financial debts +€200,048
up €200,048 (+42.6%), from €469,200 to €669,248
- Debts after one year -€93,324
down €93,324 (-19.4%), from €479,868 to €386,544
- Advances received +€21,674
up €21,674 (+37.1%), from €58,394 to €80,068
Income statement
- Gross operating margin +€92,485
up €92,485 (+11.3%), from €815,351 to €907,836
- Staff costs -€75,284
down €75,284 (-8.4%), from €895,236 to €819,952
- Financial charges -€15,523
down €15,523 (-33.3%), from €46,671 to €31,148
- Write-downs +€11,145
up €11,145 (+498.6%), from €2,236 to €13,381
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
-€156,857
Gross operating margin
+€92,485
Staff costs
+€75,284
Depreciation
+€395
Write-downs
-€11,145
Provisions
-€2,500
Other operating charges
-€700
Financial income
+€1,845
Financial charges
+€15,523
Taxes
+€18
Deferred taxes and other
-€322
Result 2025
€14,026
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.
From operations
-€86,726
Investment
-€11,593
Financing
+€107,120
Cash 2024
€71,012
From operations (derived)
-€86,726
Net result for the year
+€14,026
Depreciation
+€40,215
Stocks and contracts
-€24,215
Receivables within one year
-€131,648
Deferred charges and accrued income
-€6,917
Provisions
+€1,914
Trade debts
+€10,690
Tax, wage and social debts
-€12,938
Advances received
+€21,674
Accrued charges and deferred income
+€473
Investment (derived)
-€11,593
Investment in fixed assets (net)
-€9,093
Current investments
-€2,500
Financing
+€107,120
Debts after one year
-€93,324
Current portion of long-term debt
+€396
Short-term financial debts
+€200,048
Cash 2025
€79,813
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,516,312 | €1,659,271 | +€142,959 | +9.4% |
| Fixed assets | 21/28 | €417,098 | €385,977 | -€31,121 | -7.5% |
| Tangible fixed assets | 22/27 | €416,991 | €385,869 | -€31,121 | -7.5% |
| Land and buildings | 22 | €563 | €486 | -€78 | -13.8% |
| Plant, machinery and equipment | 23 | €415,802 | €384,734 | -€31,067 | -7.5% |
| Furniture and vehicles | 24 | €626 | €649 | +€23 | +3.7% |
| Financial fixed assets | 28 | €108 | €108 | = | 0.0% |
| Current assets | 29/58 | €1,099,213 | €1,273,294 | +€174,081 | +15.8% |
| Stocks and contracts in progress | 3 | €383,894 | €408,109 | +€24,215 | +6.3% |
| Stocks | 30/36 | €383,894 | €408,109 | +€24,215 | +6.3% |
| Amounts receivable within one year | 40/41 | €640,786 | €772,434 | +€131,648 | +20.5% |
| Trade receivables | 40 | €485,786 | €517,434 | +€31,648 | +6.5% |
| Other amounts receivable | 41 | €155,000 | €255,000 | +€100,000 | +64.5% |
| Current investments | 50/53 | - | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | €71,012 | €79,813 | +€8,801 | +12.4% |
| Deferred charges and accrued income | 490/1 | €3,522 | €10,439 | +€6,917 | +196.4% |
| Total equity and liabilities | 10/49 | €1,516,312 | €1,659,271 | +€142,959 | +9.4% |
| Equity | 10/15 | €55,661 | €69,687 | +€14,026 | +25.2% |
| Contributions | 10/11 | €45,000 | €45,000 | = | 0.0% |
| Revaluation surpluses | 12 | €110,596 | €100,541 | -€10,054 | -9.1% |
| Reserves | 13 | €672,730 | €681,025 | +€8,295 | +1.2% |
| Tax-exempt reserves | 132 | €83,830 | €82,071 | -€1,759 | -2.1% |
| Distributable reserves | 133 | €588,900 | €598,954 | +€10,054 | +1.7% |
| Profit (loss) carried forward | 14 | -€772,665 | -€756,879 | +€15,785 | +2.0% |
| Provisions and deferred taxes | 16 | €926 | €2,839 | +€1,914 | +206.7% |
| Provisions for liabilities and charges | 160/5 | - | €2,500 | +€2,500 | |
| Other liabilities and charges | 164/5 | - | €2,500 | +€2,500 | |
| Deferred taxes | 168 | €926 | €339 | -€586 | -63.4% |
| Amounts payable | 17/49 | €1,459,725 | €1,586,745 | +€127,020 | +8.7% |
| Amounts payable after more than one year | 17 | €479,868 | €386,544 | -€93,324 | -19.4% |
| Financial debts | 170/4 | €479,868 | €386,544 | -€93,324 | -19.4% |
| Amounts payable within one year | 42/48 | €979,711 | €1,199,582 | +€219,870 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | €92,928 | €93,324 | +€396 | +0.4% |
| Financial debts | 43 | €469,200 | €669,248 | +€200,048 | +42.6% |
| Credit institutions | 430/8 | €469,200 | €669,248 | +€200,048 | +42.6% |
| Trade debts | 44 | €189,640 | €200,330 | +€10,690 | +5.6% |
| Suppliers | 440/4 | €189,640 | €200,330 | +€10,690 | +5.6% |
| Advances received on contracts in progress | 46 | €58,394 | €80,068 | +€21,674 | +37.1% |
| Taxes, remuneration and social security | 45 | €169,550 | €156,612 | -€12,938 | -7.6% |
| Taxes | 450/3 | €38,837 | €61,654 | +€22,817 | +58.8% |
| Remuneration and social security | 454/9 | €130,713 | €94,958 | -€35,755 | -27.4% |
| Accrued charges and deferred income | 492/3 | €146 | €619 | +€473 | +323.9% |
| Non-recurring operating income | 76A | €2,715 | €0 | -€2,715 | -100.0% |
| Remuneration, social security and pensions | 62 | €895,236 | €819,952 | -€75,284 | -8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,609 | €40,215 | -€395 | -1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,236 | €13,381 | +€11,145 | +498.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €2,500 | +€2,500 | |
| Other operating charges | 640/8 | €2,776 | €3,476 | +€700 | +25.2% |
| Gross operating margin | 9900 | €815,351 | €907,836 | +€92,485 | +11.3% |
| Operating profit (loss) | 9901 | -€125,506 | €28,313 | +€153,819 | |
| Financial income | 75/76B | €14,760 | €16,606 | +€1,845 | +12.5% |
| Recurring financial income | 75 | €14,760 | €16,606 | +€1,845 | +12.5% |
| Financial charges | 65/66B | €46,671 | €31,148 | -€15,523 | -33.3% |
| Recurring financial charges | 65 | €46,671 | €31,148 | -€15,523 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | -€157,416 | €13,770 | +€171,187 | |
| Transfer from deferred taxes | 780 | €908 | €586 | -€322 | -35.5% |
| Income taxes | 67/77 | €349 | €331 | -€18 | -5.2% |
| Profit (loss) for the period | 9904 | -€156,857 | €14,026 | +€170,883 | |
| Transfer from tax-exempt reserves | 789 | €2,725 | €1,759 | -€966 | -35.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€154,131 | €15,785 | +€169,917 |
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 6 October 2026 via checked.be.