Hemelhof: 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.
Hemelhof
Largest movements
- Tangible fixed assets -€28,367
down €28,367 (-13.5%), from €210,031 to €181,664
of which Other tangible fixed assets: -€27,779
- Receivables within one year +€23,567
up €23,567 (+23.3%), from €101,076 to €124,643
of which Trade receivables: +€15,630
- Cash +€7,886
up €7,886 (+70.5%), from €11,184 to €19,070
mainly Depreciation (+€29,980) and Other debts (+€22,090)
- Trade debts -€27,396
down €27,396 (-38.7%), from €70,835 to €43,439
- Other debts +€22,090
new in 2025: €22,090
- Debts after one year -€12,737
down €12,737 (-12.8%), from €99,187 to €86,450
- Reserves +€6,826
up €6,826 (+7.6%), from €89,440 to €96,266
of which Distributable reserves: +€6,826
- Accrued charges and deferred income +€4,688
up €4,688 (+3,203%), from €146 to €4,835
- Gross operating margin +€52,696
up €52,696 (+25.7%), from €205,442 to €258,138
- Staff costs +€25,145
up €25,145 (+14.9%), from €168,905 to €194,051
- Financial income +€4,086
up €4,086 (+63,049%), from €6 to €4,092
- Other operating charges +€3,109
up €3,109 (+75.4%), from €4,123 to €7,233
- Taxes +€3,014
up €3,014 (+805%), from €374 to €3,389
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 | €331,809 | €334,217 | +€2,409 | +0.7% |
| Fixed assets | 21/28 | €212,047 | €183,680 | -€28,367 | -13.4% |
| Tangible fixed assets | 22/27 | €210,031 | €181,664 | -€28,367 | -13.5% |
| Land and buildings | 22 | €3,400 | €3,400 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,658 | €3,491 | +€833 | +31.3% |
| Furniture and vehicles | 24 | €28,679 | €27,259 | -€1,420 | -5.0% |
| Other tangible fixed assets | 26 | €175,294 | €147,515 | -€27,779 | -15.8% |
| Financial fixed assets | 28 | €2,016 | €2,016 | = | 0.0% |
| Current assets | 29/58 | €119,762 | €150,537 | +€30,775 | +25.7% |
| Stocks and contracts in progress | 3 | €3,951 | €3,748 | -€202 | -5.1% |
| Stocks | 30/36 | €3,951 | €3,748 | -€202 | -5.1% |
| Amounts receivable within one year | 40/41 | €101,076 | €124,643 | +€23,567 | +23.3% |
| Trade receivables | 40 | €20,471 | €36,101 | +€15,630 | +76.3% |
| Other amounts receivable | 41 | €80,605 | €88,542 | +€7,937 | +9.8% |
| Cash at bank and in hand | 54/58 | €11,184 | €19,070 | +€7,886 | +70.5% |
| Deferred charges and accrued income | 490/1 | €3,551 | €3,076 | -€475 | -13.4% |
| Total equity and liabilities | 10/49 | €331,809 | €334,217 | +€2,409 | +0.7% |
| Equity | 10/15 | €103,345 | €114,849 | +€11,504 | +11.1% |
| Contributions | 10/11 | €18,582 | €18,582 | = | 0.0% |
| Reserves | 13 | €89,440 | €96,266 | +€6,826 | +7.6% |
| Tax-exempt reserves | 132 | €4,603 | €4,603 | = | 0.0% |
| Distributable reserves | 133 | €84,838 | €91,664 | +€6,826 | +8.0% |
| Profit (loss) carried forward | 14 | -€4,677 | - | +€4,677 | |
| Amounts payable | 17/49 | €228,464 | €219,369 | -€9,095 | -4.0% |
| Amounts payable after more than one year | 17 | €99,187 | €86,450 | -€12,737 | -12.8% |
| Financial debts | 170/4 | €99,187 | €86,450 | -€12,737 | -12.8% |
| Amounts payable within one year | 42/48 | €129,131 | €128,084 | -€1,046 | -0.8% |
| Current portion of amounts payable after more than one year | 42 | €12,235 | €12,737 | +€502 | +4.1% |
| Financial debts | 43 | €10,703 | €10,000 | -€703 | -6.6% |
| Credit institutions | 430/8 | €10,703 | €10,000 | -€703 | -6.6% |
| Trade debts | 44 | €70,835 | €43,439 | -€27,396 | -38.7% |
| Suppliers | 440/4 | €70,835 | €43,439 | -€27,396 | -38.7% |
| Advances received on contracts in progress | 46 | - | €476 | +€476 | |
| Taxes, remuneration and social security | 45 | €35,358 | €39,342 | +€3,984 | +11.3% |
| Taxes | 450/3 | €20,483 | €26,306 | +€5,822 | +28.4% |
| Remuneration and social security | 454/9 | €14,875 | €13,036 | -€1,839 | -12.4% |
| Other amounts payable | 47/48 | - | €22,090 | +€22,090 | |
| Accrued charges and deferred income | 492/3 | €146 | €4,835 | +€4,688 | +3,203% |
| Remuneration, social security and pensions | 62 | €168,905 | €194,051 | +€25,145 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,580 | €29,980 | +€400 | +1.4% |
| Other operating charges | 640/8 | €4,123 | €7,233 | +€3,109 | +75.4% |
| Non-recurring operating charges | 66A | €646 | €7,424 | +€6,778 | +1,049% |
| Gross operating margin | 9900 | €205,442 | €258,138 | +€52,696 | +25.7% |
| Operating profit (loss) | 9901 | €2,187 | €19,450 | +€17,263 | +789% |
| Financial income | 75/76B | €6 | €4,092 | +€4,086 | +63,049% |
| Recurring financial income | 75 | €6 | €4,092 | +€4,086 | +63,049% |
| Financial charges | 65/66B | €6,496 | €8,650 | +€2,154 | +33.2% |
| Recurring financial charges | 65 | €6,396 | €8,331 | +€1,935 | +30.3% |
| Non-recurring financial charges | 66B | €100 | €318 | +€218 | +218% |
| Profit (loss) for the period before taxes | 9903 | -€4,303 | €14,892 | +€19,195 | |
| Income taxes | 67/77 | €374 | €3,389 | +€3,014 | +805% |
| Profit (loss) for the period | 9904 | -€4,677 | €11,504 | +€16,181 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,677 | €11,504 | +€16,181 |
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 24 October 2026 via checked.be.