HELSEN: 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.
HELSEN
Largest movements
- Receivables within one year -€24,364
down €24,364 (-71.9%), from €33,872 to €9,507
of which Trade receivables: -€22,969
- Profit (loss) carried forward -€15,428
down €15,428 (-47.7%), from -€32,348 to -€47,776
- Accrued charges and deferred income -€12,133
down €12,133 (-90.0%), from €13,480 to €1,347
- Other debts +€5,934
up €5,934 (+4.4%), from €136,203 to €142,137
- Advances received -€3,990
down €3,990 (-95.0%), from €4,200 to €210
- Gross operating margin -€18,189
down €18,189, from €7,323 to -€10,866
- Depreciation -€2,500
down €2,500 (-45.8%), from €5,458 to €2,957
- Other operating charges -€592
down €592 (-28.4%), from €2,087 to €1,495
- Financial income -€528
down €528 (-99.7%), from €530 to €2
of which Non-recurring financial income: -€518
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 | €305,334 | €280,513 | -€24,822 | -8.1% |
| Fixed assets | 21/28 | €17,509 | €14,551 | -€2,957 | -16.9% |
| Tangible fixed assets | 22/27 | €17,509 | €14,551 | -€2,957 | -16.9% |
| Land and buildings | 22 | €16,786 | €14,551 | -€2,234 | -13.3% |
| Plant, machinery and equipment | 23 | €293 | €0 | -€293 | -100.0% |
| Furniture and vehicles | 24 | €431 | €0 | -€431 | -100.0% |
| Current assets | 29/58 | €287,826 | €265,962 | -€21,864 | -7.6% |
| Stocks and contracts in progress | 3 | €250,624 | €250,624 | = | 0.0% |
| Stocks | 30/36 | €250,624 | €250,624 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,872 | €9,507 | -€24,364 | -71.9% |
| Trade receivables | 40 | €30,119 | €7,150 | -€22,969 | -76.3% |
| Other amounts receivable | 41 | €3,752 | €2,357 | -€1,396 | -37.2% |
| Cash at bank and in hand | 54/58 | €3,331 | €5,621 | +€2,290 | +68.8% |
| Deferred charges and accrued income | 490/1 | €0 | €210 | +€210 | |
| Total equity and liabilities | 10/49 | €305,334 | €280,513 | -€24,822 | -8.1% |
| Equity | 10/15 | €151,255 | €135,827 | -€15,428 | -10.2% |
| Contributions | 10/11 | €22,310 | €22,310 | = | 0.0% |
| Reserves | 13 | €161,293 | €161,293 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,231 | €2,231 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,231 | €2,231 | = | 0.0% |
| Distributable reserves | 133 | €159,062 | €159,062 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,348 | -€47,776 | -€15,428 | -47.7% |
| Amounts payable | 17/49 | €154,079 | €144,686 | -€9,393 | -6.1% |
| Amounts payable within one year | 42/48 | €140,599 | €143,339 | +€2,740 | +1.9% |
| Trade debts | 44 | €190 | €849 | +€659 | +346.4% |
| Suppliers | 440/4 | €190 | €849 | +€659 | +346.4% |
| Advances received on contracts in progress | 46 | €4,200 | €210 | -€3,990 | -95.0% |
| Taxes, remuneration and social security | 45 | €6 | €143 | +€137 | +2290.2% |
| Taxes | 450/3 | €6 | €143 | +€137 | +2290.2% |
| Other amounts payable | 47/48 | €136,203 | €142,137 | +€5,934 | +4.4% |
| Accrued charges and deferred income | 492/3 | €13,480 | €1,347 | -€12,133 | -90.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,458 | €2,957 | -€2,500 | -45.8% |
| Other operating charges | 640/8 | €2,087 | €1,495 | -€592 | -28.4% |
| Non-recurring operating charges | 66A | €20 | €0 | -€20 | -100.0% |
| Gross operating margin | 9900 | €7,323 | -€10,866 | -€18,189 | |
| Operating profit (loss) | 9901 | -€242 | -€15,319 | -€15,077 | -6232.9% |
| Financial income | 75/76B | €530 | €2 | -€528 | -99.7% |
| Recurring financial income | 75 | €12 | €2 | -€10 | -86.4% |
| Non-recurring financial income | 76B | €518 | €0 | -€518 | -100.0% |
| Financial charges | 65/66B | €200 | €111 | -€88 | -44.3% |
| Recurring financial charges | 65 | €200 | €111 | -€88 | -44.3% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €88 | -€15,428 | -€15,517 | |
| Profit (loss) for the period | 9904 | €88 | -€15,428 | -€15,517 | |
| Profit (loss) for the period to be appropriated | 9905 | €88 | -€15,428 | -€15,517 |
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 3 October 2026 via checked.be.