HELMA WORK: 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.
HELMA WORK
Largest movements
- Tangible fixed assets -€75,708
down €75,708 (-6.7%), from €1.1m to €1.0m
- Cash -€45,284
down €45,284 (-52.0%), from €87,110 to €41,825
mainly Debts after one year (-€68,267) and Other debts (-€54,310)
- Financial fixed assets +€34,650
up €34,650 (+22.0%), from €157,520 to €192,170
- Receivables within one year -€15,343
down €15,343 (-24.9%), from €61,546 to €46,203
of which Trade receivables: -€24,057
- Debts after one year -€68,267
down €68,267 (-7.1%), from €961,479 to €893,212
- Other debts -€54,310
down €54,310 (-33.6%), from €161,876 to €107,566
- Profit (loss) carried forward +€51,640
up €51,640 (+146.8%), from €35,184 to €86,824
- Trade debts -€32,051
down €32,051 (-49.5%), from €64,693 to €32,642
- Gross operating margin -€54,949
down €54,949 (-19.6%), from €280,288 to €225,340
- Other operating charges +€4,079
up €4,079 (+8.1%), from €50,324 to €54,404
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 | €1,427,894 | €1,326,208 | -€101,685 | -7.1% |
| Fixed assets | 21/28 | €1,279,238 | €1,238,180 | -€41,058 | -3.2% |
| Tangible fixed assets | 22/27 | €1,121,718 | €1,046,009 | -€75,708 | -6.7% |
| Land and buildings | 22 | €1,121,718 | €1,046,009 | -€75,708 | -6.7% |
| Financial fixed assets | 28 | €157,520 | €192,170 | +€34,650 | +22.0% |
| Current assets | 29/58 | €148,656 | €88,029 | -€60,627 | -40.8% |
| Amounts receivable within one year | 40/41 | €61,546 | €46,203 | -€15,343 | -24.9% |
| Trade receivables | 40 | €60,439 | €36,381 | -€24,057 | -39.8% |
| Other amounts receivable | 41 | €1,108 | €9,822 | +€8,715 | +786.8% |
| Cash at bank and in hand | 54/58 | €87,110 | €41,825 | -€45,284 | -52.0% |
| Total equity and liabilities | 10/49 | €1,427,894 | €1,326,208 | -€101,685 | -7.1% |
| Equity | 10/15 | €160,184 | €211,824 | +€51,640 | +32.2% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,184 | €86,824 | +€51,640 | +146.8% |
| Amounts payable | 17/49 | €1,267,710 | €1,114,384 | -€153,326 | -12.1% |
| Amounts payable after more than one year | 17 | €961,479 | €893,212 | -€68,267 | -7.1% |
| Financial debts | 170/4 | €961,479 | €893,212 | -€68,267 | -7.1% |
| Amounts payable within one year | 42/48 | €306,231 | €221,172 | -€85,058 | -27.8% |
| Current portion of amounts payable after more than one year | 42 | €79,240 | €74,417 | -€4,823 | -6.1% |
| Trade debts | 44 | €64,693 | €32,642 | -€32,051 | -49.5% |
| Suppliers | 440/4 | €64,693 | €32,642 | -€32,051 | -49.5% |
| Taxes, remuneration and social security | 45 | €422 | €6,547 | +€6,125 | +1450.2% |
| Taxes | 450/3 | €422 | €6,547 | +€6,125 | +1450.2% |
| Other amounts payable | 47/48 | €161,876 | €107,566 | -€54,310 | -33.6% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,708 | €75,708 | = | 0.0% |
| Other operating charges | 640/8 | €50,324 | €54,404 | +€4,079 | +8.1% |
| Gross operating margin | 9900 | €280,288 | €225,340 | -€54,949 | -19.6% |
| Operating profit (loss) | 9901 | €154,256 | €95,228 | -€59,028 | -38.3% |
| Financial income | 75/76B | €21 | €7 | -€14 | -65.4% |
| Recurring financial income | 75 | €21 | €7 | -€14 | -65.4% |
| Financial charges | 65/66B | €27,204 | €26,381 | -€823 | -3.0% |
| Recurring financial charges | 65 | €27,204 | €26,381 | -€823 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €127,073 | €68,854 | -€58,219 | -45.8% |
| Income taxes | 67/77 | €18,892 | €17,213 | -€1,679 | -8.9% |
| Profit (loss) for the period | 9904 | €108,180 | €51,640 | -€56,540 | -52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €108,180 | €51,640 | -€56,540 | -52.3% |
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.