HELROD: 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.
HELROD
Largest movements
- Tangible fixed assets -€13,199
down €13,199 (-2.7%), from €495,260 to €482,061
- Debts after one year -€26,983
down €26,983 (-10.7%), from €252,223 to €225,240
- Other debts +€8,637
up €8,637 (+4.7%), from €184,175 to €192,812
- Gross operating margin +€2,292
up €2,292 (+6.8%), from €33,865 to €36,157
- Depreciation +€1,420
up €1,420 (+5.7%), from €24,879 to €26,299
- Financial charges -€385
down €385 (-8.9%), from €4,340 to €3,955
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 | €498,058 | €482,495 | -€15,563 | -3.1% |
| Fixed assets | 21/28 | €495,260 | €482,061 | -€13,199 | -2.7% |
| Tangible fixed assets | 22/27 | €495,260 | €482,061 | -€13,199 | -2.7% |
| Land and buildings | 22 | €495,260 | €482,061 | -€13,199 | -2.7% |
| Current assets | 29/58 | €2,798 | €434 | -€2,364 | -84.5% |
| Cash at bank and in hand | 54/58 | €1,943 | €434 | -€1,509 | -77.7% |
| Deferred charges and accrued income | 490/1 | €855 | - | -€855 | |
| Total equity and liabilities | 10/49 | €498,058 | €482,495 | -€15,563 | -3.1% |
| Equity | 10/15 | €34,598 | €36,696 | +€2,098 | +6.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,598 | €14,696 | +€2,098 | +16.7% |
| Amounts payable | 17/49 | €463,460 | €445,799 | -€17,661 | -3.8% |
| Amounts payable after more than one year | 17 | €252,223 | €225,240 | -€26,983 | -10.7% |
| Financial debts | 170/4 | €252,223 | €225,240 | -€26,983 | -10.7% |
| Amounts payable within one year | 42/48 | €211,237 | €220,559 | +€9,322 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €26,600 | €26,983 | +€383 | +1.4% |
| Taxes, remuneration and social security | 45 | €462 | €764 | +€302 | +65.4% |
| Taxes | 450/3 | €462 | €764 | +€302 | +65.4% |
| Other amounts payable | 47/48 | €184,175 | €192,812 | +€8,637 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,879 | €26,299 | +€1,420 | +5.7% |
| Other operating charges | 640/8 | €2,949 | €3,041 | +€92 | +3.1% |
| Gross operating margin | 9900 | €33,865 | €36,157 | +€2,292 | +6.8% |
| Operating profit (loss) | 9901 | €6,037 | €6,817 | +€780 | +12.9% |
| Financial charges | 65/66B | €4,340 | €3,955 | -€385 | -8.9% |
| Recurring financial charges | 65 | €4,340 | €3,955 | -€385 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €1,697 | €2,862 | +€1,165 | +68.7% |
| Income taxes | 67/77 | €462 | €764 | +€302 | +65.4% |
| Profit (loss) for the period | 9904 | €1,235 | €2,098 | +€863 | +69.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,235 | €2,098 | +€863 | +69.9% |
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 28 September 2026 via checked.be.