HERAAT: 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.
HERAAT
Largest movements
- Tangible fixed assets +€34,797
up €34,797 (+9034.9%), from €385 to €35,182
of which Land and buildings: +€33,713
- Cash -€16,846
down €16,846 (-86.4%), from €19,496 to €2,650
mainly Investment in fixed assets (net) (-€35,884) and Net result for the year (-€7,207)
- Intangible fixed assets -€5,500
down €5,500 (-20.0%), from €27,500 to €22,000
- Receivables within one year +€1,178
new in 2025: €1,178
of which Trade receivables: +€764
- Stocks and contracts -€983
down €983 (-30.2%), from €3,258 to €2,275
- Debts after one year +€16,498
new in 2025: €16,498
- Profit (loss) carried forward -€7,207
down €7,207 (-31.0%), from €23,255 to €16,048
- Current portion of long-term debt +€5,674
new in 2025: €5,674
- Trade debts -€2,166
down €2,166 (-49.1%), from €4,407 to €2,241
- Tax, wage and social debts -€2,091
down €2,091 (-91.1%), from €2,295 to €204
- Gross operating margin -€12,851
down €12,851 (-61.2%), from €20,981 to €8,131
- Other operating charges +€3,774
up €3,774 (+309.6%), from €1,219 to €4,993
- Staff costs -€3,479
no longer reported in 2025 (was €3,479)
- Depreciation -€2,585
down €2,585 (-28.2%), from €9,171 to €6,587
- Financial charges +€1,699
up €1,699 (+91.6%), from €1,854 to €3,553
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.
Cash bridge derived
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 | €53,894 | €66,540 | +€12,646 | +23.5% |
| Fixed assets | 21/28 | €31,140 | €60,437 | +€29,297 | +94.1% |
| Intangible fixed assets | 21 | €27,500 | €22,000 | -€5,500 | -20.0% |
| Tangible fixed assets | 22/27 | €385 | €35,182 | +€34,797 | +9034.9% |
| Land and buildings | 22 | - | €33,713 | +€33,713 | |
| Plant, machinery and equipment | 23 | - | €373 | +€373 | |
| Furniture and vehicles | 24 | €385 | €1,096 | +€711 | +184.6% |
| Financial fixed assets | 28 | €3,255 | €3,255 | = | 0.0% |
| Current assets | 29/58 | €22,754 | €6,103 | -€16,651 | -73.2% |
| Stocks and contracts in progress | 3 | €3,258 | €2,275 | -€983 | -30.2% |
| Stocks | 30/36 | €3,258 | €2,275 | -€983 | -30.2% |
| Amounts receivable within one year | 40/41 | - | €1,178 | +€1,178 | |
| Trade receivables | 40 | - | €764 | +€764 | |
| Other amounts receivable | 41 | - | €414 | +€414 | |
| Cash at bank and in hand | 54/58 | €19,496 | €2,650 | -€16,846 | -86.4% |
| Total equity and liabilities | 10/49 | €53,894 | €66,540 | +€12,646 | +23.5% |
| Equity | 10/15 | €41,855 | €34,648 | -€7,207 | -17.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Profit (loss) carried forward | 14 | €23,255 | €16,048 | -€7,207 | -31.0% |
| Amounts payable | 17/49 | €12,039 | €31,892 | +€19,853 | +164.9% |
| Amounts payable after more than one year | 17 | - | €16,498 | +€16,498 | |
| Financial debts | 170/4 | - | €16,498 | +€16,498 | |
| Amounts payable within one year | 42/48 | €12,039 | €15,394 | +€3,355 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | - | €5,674 | +€5,674 | |
| Trade debts | 44 | €4,407 | €2,241 | -€2,166 | -49.1% |
| Suppliers | 440/4 | €4,407 | €2,241 | -€2,166 | -49.1% |
| Taxes, remuneration and social security | 45 | €2,295 | €204 | -€2,091 | -91.1% |
| Taxes | 450/3 | €2,295 | €204 | -€2,091 | -91.1% |
| Other amounts payable | 47/48 | €5,337 | €7,275 | +€1,938 | +36.3% |
| Remuneration, social security and pensions | 62 | €3,479 | - | -€3,479 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,171 | €6,587 | -€2,585 | -28.2% |
| Other operating charges | 640/8 | €1,219 | €4,993 | +€3,774 | +309.6% |
| Gross operating margin | 9900 | €20,981 | €8,131 | -€12,851 | -61.2% |
| Operating profit (loss) | 9901 | €7,112 | -€3,450 | -€10,562 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,854 | €3,553 | +€1,699 | +91.6% |
| Recurring financial charges | 65 | €1,854 | €3,553 | +€1,699 | +91.6% |
| Profit (loss) for the period before taxes | 9903 | €5,258 | -€7,003 | -€12,261 | |
| Income taxes | 67/77 | €1,806 | €204 | -€1,602 | -88.7% |
| Profit (loss) for the period | 9904 | €3,452 | -€7,207 | -€10,659 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,452 | -€7,207 | -€10,659 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.