HELVAN: 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.
HELVAN
Largest movements
- Cash +€470,025
up €470,025 (+358%), from €131,449 to €601,475
mainly Current investments (+€400,000) and Net result for the year (+€206,646)
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Receivables within one year +€128,495
up €128,495 (+25.3%), from €507,881 to €636,376
of which Trade receivables: +€140,474
- Tangible fixed assets +€85,316
up €85,316 (+77.5%), from €110,101 to €195,416
of which Furniture and vehicles: +€92,233
- Deferred charges and accrued income +€16,407
up €16,407 (+212%), from €7,729 to €24,137
- Reserves +€206,646
up €206,646 (+27.8%), from €744,131 to €950,778
of which Distributable reserves: +€206,646
- Trade debts +€133,595
up €133,595 (+52.9%), from €252,492 to €386,087
- Tax, wage and social debts -€46,829
down €46,829 (-79.4%), from €58,954 to €12,125
of which Taxes: -€41,723
- Financial income -€144,963
down €144,963 (-94.5%), from €153,463 to €8,499
of which Non-recurring financial income: -€151,548
- Gross operating margin +€132,162
up €132,162 (+41.8%), from €316,102 to €448,263
- Staff costs +€83,107
up €83,107 (+1,205%), from €6,896 to €90,004
- Taxes -€22,379
down €22,379 (-25.5%), from €87,775 to €65,396
- Depreciation +€7,302
up €7,302 (+42.6%), from €17,135 to €24,437
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 | €1,178,660 | €1,466,403 | +€287,743 | +24.4% |
| Fixed assets | 21/28 | €119,101 | €204,416 | +€85,316 | +71.6% |
| Tangible fixed assets | 22/27 | €110,101 | €195,416 | +€85,316 | +77.5% |
| Land and buildings | 22 | €46,949 | €45,918 | -€1,031 | -2.2% |
| Plant, machinery and equipment | 23 | €40,095 | €34,208 | -€5,887 | -14.7% |
| Furniture and vehicles | 24 | €23,057 | €115,290 | +€92,233 | +400% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €1,059,560 | €1,261,987 | +€202,427 | +19.1% |
| Stocks and contracts in progress | 3 | €12,500 | - | -€12,500 | |
| Stocks | 30/36 | €12,500 | - | -€12,500 | |
| Amounts receivable within one year | 40/41 | €507,881 | €636,376 | +€128,495 | +25.3% |
| Trade receivables | 40 | €459,919 | €600,393 | +€140,474 | +30.5% |
| Other amounts receivable | 41 | €47,962 | €35,983 | -€11,979 | -25.0% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €131,449 | €601,475 | +€470,025 | +358% |
| Deferred charges and accrued income | 490/1 | €7,729 | €24,137 | +€16,407 | +212% |
| Total equity and liabilities | 10/49 | €1,178,660 | €1,466,403 | +€287,743 | +24.4% |
| Equity | 10/15 | €805,631 | €1,012,278 | +€206,646 | +25.7% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €744,131 | €950,778 | +€206,646 | +27.8% |
| Non-distributable reserves | 130/1 | €17,396 | €17,396 | = | 0.0% |
| Legal reserve | 130 | €17,396 | €17,396 | = | 0.0% |
| Tax-exempt reserves | 132 | €121,238 | €121,238 | = | 0.0% |
| Distributable reserves | 133 | €605,497 | €812,143 | +€206,646 | +34.1% |
| Provisions and deferred taxes | 16 | €30,310 | €30,310 | = | 0.0% |
| Deferred taxes | 168 | €30,310 | €30,310 | = | 0.0% |
| Amounts payable | 17/49 | €342,719 | €423,816 | +€81,097 | +23.7% |
| Amounts payable after more than one year | 17 | €21,399 | €11,524 | -€9,876 | -46.1% |
| Financial debts | 170/4 | €21,399 | €11,524 | -€9,876 | -46.1% |
| Amounts payable within one year | 42/48 | €321,320 | €408,221 | +€86,901 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | €9,874 | €9,876 | +€2 | 0.0% |
| Trade debts | 44 | €252,492 | €386,087 | +€133,595 | +52.9% |
| Suppliers | 440/4 | €252,492 | €386,087 | +€133,595 | +52.9% |
| Taxes, remuneration and social security | 45 | €58,954 | €12,125 | -€46,829 | -79.4% |
| Taxes | 450/3 | €53,755 | €12,031 | -€41,723 | -77.6% |
| Remuneration and social security | 454/9 | €5,200 | €94 | -€5,106 | -98.2% |
| Other amounts payable | 47/48 | - | €133 | +€133 | |
| Accrued charges and deferred income | 492/3 | - | €4,072 | +€4,072 | |
| Remuneration, social security and pensions | 62 | €6,896 | €90,004 | +€83,107 | +1,205% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,135 | €24,437 | +€7,302 | +42.6% |
| Other operating charges | 640/8 | €4,942 | €9,728 | +€4,786 | +96.8% |
| Non-recurring operating charges | 66A | - | €55,057 | +€55,057 | |
| Gross operating margin | 9900 | €316,102 | €448,263 | +€132,162 | +41.8% |
| Operating profit (loss) | 9901 | €287,129 | €269,038 | -€18,090 | -6.3% |
| Financial income | 75/76B | €153,463 | €8,499 | -€144,963 | -94.5% |
| Recurring financial income | 75 | €1,915 | €8,499 | +€6,585 | +344% |
| Non-recurring financial income | 76B | €151,548 | - | -€151,548 | |
| Financial charges | 65/66B | €10,213 | €5,495 | -€4,718 | -46.2% |
| Recurring financial charges | 65 | €10,213 | €5,495 | -€4,718 | -46.2% |
| Profit (loss) for the period before taxes | 9903 | €430,378 | €272,042 | -€158,336 | -36.8% |
| Transfer to deferred taxes | 680 | €30,310 | - | -€30,310 | |
| Income taxes | 67/77 | €87,775 | €65,396 | -€22,379 | -25.5% |
| Profit (loss) for the period | 9904 | €312,293 | €206,646 | -€105,647 | -33.8% |
| Transfer to tax-exempt reserves | 689 | €121,238 | - | -€121,238 | |
| Profit (loss) for the period to be appropriated | 9905 | €191,055 | €206,646 | +€15,591 | +8.2% |
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 14 October 2026 via checked.be.