Heratsi: 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.
Heratsi
Largest movements
- Receivables after one year -€27,000
no longer reported in 2025 (was €27,000)
- Cash +€9,748
up €9,748 (+11.0%), from €88,364 to €98,112
mainly Net result for the year (+€85,880) and Receivables after one year (+€27,000)
- Tangible fixed assets -€3,245
down €3,245 (-40.7%), from €7,981 to €4,735
of which Furniture and vehicles: -€3,245
- Other debts -€19,807
down €19,807 (-18.7%), from €105,687 to €85,880
- Tax, wage and social debts +€2,616
new in 2025: €2,616
- Trade debts -€2,534
down €2,534 (-89.9%), from €2,818 to €284
- Gross operating margin +€3,926
up €3,926 (+3.6%), from €109,860 to €113,787
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 | €128,964 | €109,241 | -€19,724 | -15.3% |
| Fixed assets | 21/28 | €7,981 | €4,735 | -€3,245 | -40.7% |
| Tangible fixed assets | 22/27 | €7,981 | €4,735 | -€3,245 | -40.7% |
| Furniture and vehicles | 24 | €7,181 | €3,935 | -€3,245 | -45.2% |
| Other tangible fixed assets | 26 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €120,984 | €104,505 | -€16,478 | -13.6% |
| Amounts receivable after more than one year | 29 | €27,000 | - | -€27,000 | |
| Other amounts receivable | 291 | €27,000 | - | -€27,000 | |
| Amounts receivable within one year | 40/41 | €673 | €916 | +€243 | +36.2% |
| Other amounts receivable | 41 | €673 | €916 | +€243 | +36.2% |
| Cash at bank and in hand | 54/58 | €88,364 | €98,112 | +€9,748 | +11.0% |
| Deferred charges and accrued income | 490/1 | €4,947 | €5,477 | +€530 | +10.7% |
| Total equity and liabilities | 10/49 | €128,964 | €109,241 | -€19,724 | -15.3% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €108,504 | €88,781 | -€19,724 | -18.2% |
| Amounts payable within one year | 42/48 | €108,504 | €88,781 | -€19,724 | -18.2% |
| Trade debts | 44 | €2,818 | €284 | -€2,534 | -89.9% |
| Suppliers | 440/4 | €2,818 | €284 | -€2,534 | -89.9% |
| Taxes, remuneration and social security | 45 | - | €2,616 | +€2,616 | |
| Taxes | 450/3 | - | €2,616 | +€2,616 | |
| Other amounts payable | 47/48 | €105,687 | €85,880 | -€19,807 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,470 | €3,245 | -€225 | -6.5% |
| Other operating charges | 640/8 | €926 | €973 | +€47 | +5.1% |
| Gross operating margin | 9900 | €109,860 | €113,787 | +€3,926 | +3.6% |
| Operating profit (loss) | 9901 | €105,464 | €109,569 | +€4,105 | +3.9% |
| Financial charges | 65/66B | €108 | €72 | -€36 | -33.3% |
| Recurring financial charges | 65 | €108 | €72 | -€36 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €105,356 | €109,497 | +€4,141 | +3.9% |
| Income taxes | 67/77 | €22,888 | €23,616 | +€728 | +3.2% |
| Profit (loss) for the period | 9904 | €82,468 | €85,880 | +€3,413 | +4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €82,468 | €85,880 | +€3,413 | +4.1% |
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.