Heptafin: 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.
Heptafin
Largest movements
- Cash -€36,544
down €36,544 (-57.2%), from €63,912 to €27,369
mainly Contributions, distributions and other (-€140,371) and Tax, wage and social debts (-€11,590)
- Receivables within one year +€8,412
up €8,412 (+37.1%), from €22,692 to €31,104
of which Trade receivables: +€16,244
- Tangible fixed assets -€2,240
down €2,240 (-40.4%), from €5,549 to €3,309
of which Other tangible fixed assets: -€1,852
- Deferred charges and accrued income -€1,361
down €1,361 (-46.2%), from €2,945 to €1,584
- Reserves -€83,306
down €83,306 (-92.2%), from €90,371 to €7,065
- Other debts +€63,384
up €63,384, from €0 to €63,384
- Tax, wage and social debts -€11,590
down €11,590 (-55.4%), from €20,922 to €9,331
- Gross operating margin -€7,812
down €7,812 (-9.3%), from €83,700 to €75,888
- Other operating charges -€1,757
down €1,757 (-74.3%), from €2,364 to €607
- Taxes -€1,566
down €1,566 (-9.3%), from €16,868 to €15,302
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 | €115,099 | €83,366 | -€31,733 | -27.6% |
| Fixed assets | 21/28 | €5,549 | €3,309 | -€2,240 | -40.4% |
| Tangible fixed assets | 22/27 | €5,549 | €3,309 | -€2,240 | -40.4% |
| Furniture and vehicles | 24 | €826 | €438 | -€388 | -47.0% |
| Other tangible fixed assets | 26 | €4,723 | €2,871 | -€1,852 | -39.2% |
| Current assets | 29/58 | €109,549 | €80,057 | -€29,493 | -26.9% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €22,692 | €31,104 | +€8,412 | +37.1% |
| Trade receivables | 40 | €14,860 | €31,104 | +€16,244 | +109% |
| Other amounts receivable | 41 | €7,833 | €0 | -€7,833 | -100% |
| Cash at bank and in hand | 54/58 | €63,912 | €27,369 | -€36,544 | -57.2% |
| Deferred charges and accrued income | 490/1 | €2,945 | €1,584 | -€1,361 | -46.2% |
| Total equity and liabilities | 10/49 | €115,099 | €83,366 | -€31,733 | -27.6% |
| Equity | 10/15 | €93,371 | €10,065 | -€83,306 | -89.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €90,371 | €7,065 | -€83,306 | -92.2% |
| Distributable reserves | 133 | €90,371 | €7,065 | -€83,306 | -92.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,728 | €73,301 | +€51,573 | +237% |
| Amounts payable within one year | 42/48 | €21,728 | €73,301 | +€51,573 | +237% |
| Trade debts | 44 | €806 | €586 | -€221 | -27.4% |
| Suppliers | 440/4 | €806 | €586 | -€221 | -27.4% |
| Taxes, remuneration and social security | 45 | €20,922 | €9,331 | -€11,590 | -55.4% |
| Taxes | 450/3 | €20,922 | €9,331 | -€11,590 | -55.4% |
| Other amounts payable | 47/48 | €0 | €63,384 | +€63,384 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,354 | €2,240 | -€113 | -4.8% |
| Other operating charges | 640/8 | €2,364 | €607 | -€1,757 | -74.3% |
| Gross operating margin | 9900 | €83,700 | €75,888 | -€7,812 | -9.3% |
| Operating profit (loss) | 9901 | €78,983 | €73,040 | -€5,942 | -7.5% |
| Financial income | 75/76B | €1,263 | €528 | -€735 | -58.2% |
| Recurring financial income | 75 | €1,263 | €528 | -€735 | -58.2% |
| Financial charges | 65/66B | €1,406 | €1,202 | -€204 | -14.5% |
| Recurring financial charges | 65 | €1,406 | €1,202 | -€204 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €78,840 | €72,367 | -€6,473 | -8.2% |
| Income taxes | 67/77 | €16,868 | €15,302 | -€1,566 | -9.3% |
| Profit (loss) for the period | 9904 | €61,972 | €57,065 | -€4,907 | -7.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,972 | €57,065 | -€4,907 | -7.9% |
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.