HELT: 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.
HELT
Largest movements
- Stocks and contracts -€8,660
down €8,660 (-8.2%), from €106,141 to €97,481
- Cash +€4,522
up €4,522 (+11.7%), from €38,561 to €43,083
mainly Stocks and contracts (+€8,660) and Tax, wage and social debts (+€6,493)
- Deferred charges and accrued income -€3,141
down €3,141 (-32.7%), from €9,591 to €6,450
- Debts after one year -€14,388
down €14,388 (-100%), from €14,388 to €0
- Tax, wage and social debts +€6,493
up €6,493 (+35.6%), from €18,231 to €24,724
of which Remuneration and social security: +€3,304
- Reserves +€3,644
up €3,644 (+4.8%), from €76,051 to €79,695
- Other debts -€2,738
down €2,738 (-52.4%), from €5,221 to €2,483
- Write-downs -€11,319
down €11,319, from €4,533 to -€6,786
- Gross operating margin -€6,665
down €6,665 (-15.0%), from €44,572 to €37,907
- Staff costs +€3,071
up €3,071 (+9.6%), from €32,079 to €35,150
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.
Derived cash bridge
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 | €173,962 | €167,629 | -€6,333 | -3.6% |
| Fixed assets | 21/28 | €12,741 | €12,051 | -€690 | -5.4% |
| Tangible fixed assets | 22/27 | €8,946 | €8,256 | -€690 | -7.7% |
| Furniture and vehicles | 24 | €8,946 | €8,256 | -€690 | -7.7% |
| Financial fixed assets | 28 | €3,795 | €3,795 | = | 0.0% |
| Current assets | 29/58 | €161,222 | €155,579 | -€5,643 | -3.5% |
| Stocks and contracts in progress | 3 | €106,141 | €97,481 | -€8,660 | -8.2% |
| Stocks | 30/36 | €106,141 | €97,481 | -€8,660 | -8.2% |
| Amounts receivable within one year | 40/41 | €6,929 | €8,565 | +€1,636 | +23.6% |
| Trade receivables | 40 | €3,245 | €4,894 | +€1,650 | +50.8% |
| Other amounts receivable | 41 | €3,684 | €3,670 | -€14 | -0.4% |
| Cash at bank and in hand | 54/58 | €38,561 | €43,083 | +€4,522 | +11.7% |
| Deferred charges and accrued income | 490/1 | €9,591 | €6,450 | -€3,141 | -32.7% |
| Total equity and liabilities | 10/49 | €173,962 | €167,629 | -€6,333 | -3.6% |
| Equity | 10/15 | €115,717 | €119,361 | +€3,644 | +3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €76,051 | €79,695 | +€3,644 | +4.8% |
| Distributable reserves | 133 | €76,051 | €79,695 | +€3,644 | +4.8% |
| Profit (loss) carried forward | 14 | €21,066 | €21,066 | = | 0.0% |
| Amounts payable | 17/49 | €58,245 | €48,269 | -€9,977 | -17.1% |
| Amounts payable after more than one year | 17 | €14,388 | €0 | -€14,388 | -100% |
| Financial debts | 170/4 | €14,388 | €0 | -€14,388 | -100% |
| Amounts payable within one year | 42/48 | €42,901 | €45,997 | +€3,096 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €14,191 | €14,388 | +€197 | +1.4% |
| Trade debts | 44 | €5,258 | €4,403 | -€856 | -16.3% |
| Suppliers | 440/4 | €5,258 | €4,403 | -€856 | -16.3% |
| Taxes, remuneration and social security | 45 | €18,231 | €24,724 | +€6,493 | +35.6% |
| Taxes | 450/3 | €8,544 | €11,732 | +€3,188 | +37.3% |
| Remuneration and social security | 454/9 | €9,687 | €12,991 | +€3,304 | +34.1% |
| Other amounts payable | 47/48 | €5,221 | €2,483 | -€2,738 | -52.4% |
| Accrued charges and deferred income | 492/3 | €957 | €2,272 | +€1,315 | +138% |
| Non-recurring operating income | 76A | €2,424 | €0 | -€2,424 | -100% |
| Remuneration, social security and pensions | 62 | €32,079 | €35,150 | +€3,071 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,763 | €1,788 | +€25 | +1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,533 | -€6,786 | -€11,319 | |
| Other operating charges | 640/8 | €1,113 | €1,463 | +€350 | +31.5% |
| Gross operating margin | 9900 | €44,572 | €37,907 | -€6,665 | -15.0% |
| Operating profit (loss) | 9901 | €5,084 | €6,292 | +€1,208 | +23.8% |
| Financial income | 75/76B | €3,455 | €3,275 | -€179 | -5.2% |
| Recurring financial income | 75 | €3,455 | €3,275 | -€179 | -5.2% |
| Financial charges | 65/66B | €3,204 | €2,961 | -€243 | -7.6% |
| Recurring financial charges | 65 | €3,204 | €2,961 | -€243 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €5,335 | €6,606 | +€1,271 | +23.8% |
| Income taxes | 67/77 | €3,237 | €2,963 | -€275 | -8.5% |
| Profit (loss) for the period | 9904 | €2,098 | €3,644 | +€1,546 | +73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,098 | €3,644 | +€1,546 | +73.7% |
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 13 October 2026 via checked.be.