Helvin: 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.
Helvin
Largest movements
- Tangible fixed assets +€317,318
up €317,318 (+29.5%), from €1.1m to €1.4m
of which Leasing and similar rights: +€351,602
- Receivables within one year +€183,497
up €183,497 (+123%), from €149,051 to €332,548
of which Trade receivables: +€187,282
- Debts after one year +€217,009
up €217,009 (+26.9%), from €806,199 to €1.0m
- Reserves +€116,582
up €116,582 (+103%), from €112,844 to €229,426
- Current portion of long-term debt +€113,932
up €113,932 (+43.0%), from €264,655 to €378,587
- Tax, wage and social debts +€54,755
up €54,755 (+786%), from €6,965 to €61,721
- Gross operating margin +€371,212
up €371,212 (+129%), from €288,273 to €659,485
- Depreciation +€195,676
up €195,676 (+103%), from €189,386 to €385,062
- Taxes +€35,546
up €35,546 (+512%), from €6,945 to €42,492
- Other operating charges +€22,914
up €22,914 (+245%), from €9,348 to €32,262
- Financial charges +€21,422
up €21,422 (+31.7%), from €67,522 to €88,943
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 | €1,253,351 | €1,757,695 | +€504,344 | +40.2% |
| Fixed assets | 21/28 | €1,075,036 | €1,392,354 | +€317,318 | +29.5% |
| Tangible fixed assets | 22/27 | €1,075,036 | €1,392,354 | +€317,318 | +29.5% |
| Plant, machinery and equipment | 23 | €164,852 | €134,231 | -€30,620 | -18.6% |
| Furniture and vehicles | 24 | €29,734 | €26,071 | -€3,663 | -12.3% |
| Leasing and similar rights | 25 | €880,450 | €1,232,052 | +€351,602 | +39.9% |
| Current assets | 29/58 | €178,315 | €365,341 | +€187,026 | +105% |
| Amounts receivable within one year | 40/41 | €149,051 | €332,548 | +€183,497 | +123% |
| Trade receivables | 40 | €127,478 | €314,760 | +€187,282 | +147% |
| Other amounts receivable | 41 | €21,573 | €17,788 | -€3,785 | -17.5% |
| Cash at bank and in hand | 54/58 | €11,436 | €10,133 | -€1,303 | -11.4% |
| Deferred charges and accrued income | 490/1 | €17,827 | €22,659 | +€4,832 | +27.1% |
| Total equity and liabilities | 10/49 | €1,253,351 | €1,757,695 | +€504,344 | +40.2% |
| Equity | 10/15 | €119,044 | €235,626 | +€116,582 | +97.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €112,844 | €229,426 | +€116,582 | +103% |
| Distributable reserves | 133 | €112,844 | €229,426 | +€116,582 | +103% |
| Amounts payable | 17/49 | €1,134,307 | €1,522,069 | +€387,762 | +34.2% |
| Amounts payable after more than one year | 17 | €806,199 | €1,023,208 | +€217,009 | +26.9% |
| Financial debts | 170/4 | €806,199 | €1,023,208 | +€217,009 | +26.9% |
| Amounts payable within one year | 42/48 | €328,108 | €498,861 | +€170,753 | +52.0% |
| Current portion of amounts payable after more than one year | 42 | €264,655 | €378,587 | +€113,932 | +43.0% |
| Trade debts | 44 | €47,772 | €49,467 | +€1,695 | +3.5% |
| Suppliers | 440/4 | €47,772 | €49,467 | +€1,695 | +3.5% |
| Taxes, remuneration and social security | 45 | €6,965 | €61,721 | +€54,755 | +786% |
| Taxes | 450/3 | €6,965 | €61,721 | +€54,755 | +786% |
| Other amounts payable | 47/48 | €8,716 | €9,087 | +€371 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189,386 | €385,062 | +€195,676 | +103% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€11,363 | -€11,363 | |
| Other operating charges | 640/8 | €9,348 | €32,262 | +€22,914 | +245% |
| Non-recurring operating charges | 66A | - | €5,571 | +€5,571 | |
| Gross operating margin | 9900 | €288,273 | €659,485 | +€371,212 | +129% |
| Operating profit (loss) | 9901 | €89,539 | €247,952 | +€158,414 | +177% |
| Financial income | 75/76B | €0 | €65 | +€65 | +43,127% |
| Recurring financial income | 75 | €0 | €65 | +€65 | +43,127% |
| Financial charges | 65/66B | €67,522 | €88,943 | +€21,422 | +31.7% |
| Recurring financial charges | 65 | €67,522 | €88,943 | +€21,422 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €22,017 | €159,074 | +€137,057 | +622% |
| Income taxes | 67/77 | €6,945 | €42,492 | +€35,546 | +512% |
| Profit (loss) for the period | 9904 | €15,072 | €116,582 | +€101,510 | +674% |
| Profit (loss) for the period to be appropriated | 9905 | €15,072 | €116,582 | +€101,510 | +674% |
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 18 October 2026 via checked.be.