HEREDITAS: what changed
Two fiscal 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.
HEREDITAS
Largest movements
- Cash -€370,908
down €370,908 (-58.4%), from €635,615 to €264,707
mainly Other debts (-€403,750) and Debts after one year (-€190,848)
- Tangible fixed assets -€210,952
down €210,952 (-3.5%), from €6.1m to €5.9m
of which Land and buildings: -€211,066
- Other debts -€403,750
down €403,750 (-81.1%), from €497,663 to €93,913
- Debts after one year -€190,848
down €190,848 (-8.1%), from €2.4m to €2.2m
- Profit (loss) carried forward +€114,666
up €114,666 (+29.5%), from -€388,193 to -€273,527
- Gross operating margin -€67,427
down €67,427 (-14.3%), from €469,924 to €402,496
- Depreciation +€28,617
up €28,617 (+15.4%), from €185,861 to €214,477
- Financial charges -€5,134
down €5,134 (-7.0%), from €73,713 to €68,579
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 | €7,689,421 | €7,125,906 | -€563,515 | -7.3% |
| Fixed assets | 21/28 | €6,743,593 | €6,534,769 | -€208,823 | -3.1% |
| Tangible fixed assets | 22/27 | €6,075,722 | €5,864,769 | -€210,952 | -3.5% |
| Land and buildings | 22 | €6,060,569 | €5,849,503 | -€211,066 | -3.5% |
| Plant, machinery and equipment | 23 | €12,477 | €10,786 | -€1,691 | -13.6% |
| Furniture and vehicles | 24 | €2,676 | €4,480 | +€1,804 | +67.4% |
| Financial fixed assets | 28 | €667,871 | €670,000 | +€2,129 | +0.3% |
| Current assets | 29/58 | €945,829 | €591,137 | -€354,692 | -37.5% |
| Amounts receivable within one year | 40/41 | €306,356 | €313,689 | +€7,333 | +2.4% |
| Trade receivables | 40 | €35,795 | €8,500 | -€27,295 | -76.3% |
| Other amounts receivable | 41 | €270,561 | €305,189 | +€34,628 | +12.8% |
| Cash at bank and in hand | 54/58 | €635,615 | €264,707 | -€370,908 | -58.4% |
| Deferred charges and accrued income | 490/1 | €3,857 | €12,740 | +€8,883 | +230.3% |
| Total equity and liabilities | 10/49 | €7,689,421 | €7,125,906 | -€563,515 | -7.3% |
| Equity | 10/15 | €4,425,999 | €4,503,725 | +€77,726 | +1.8% |
| Contributions | 10/11 | €3,350,000 | €3,350,000 | = | 0.0% |
| Capital | 10 | €3,350,000 | €3,350,000 | = | 0.0% |
| Issued capital | 100 | €3,350,000 | €3,350,000 | = | 0.0% |
| Revaluation surpluses | 12 | €953,500 | €953,500 | = | 0.0% |
| Reserves | 13 | €510,693 | €473,752 | -€36,940 | -7.2% |
| Non-distributable reserves | 130/1 | €3,954 | €3,954 | = | 0.0% |
| Legal reserve | 130 | €3,954 | €3,954 | = | 0.0% |
| Tax-exempt reserves | 132 | €506,739 | €469,799 | -€36,940 | -7.3% |
| Profit (loss) carried forward | 14 | -€388,193 | -€273,527 | +€114,666 | +29.5% |
| Provisions and deferred taxes | 16 | €177,530 | €164,330 | -€13,199 | -7.4% |
| Deferred taxes | 168 | €177,530 | €164,330 | -€13,199 | -7.4% |
| Amounts payable | 17/49 | €3,085,893 | €2,457,850 | -€628,042 | -20.4% |
| Amounts payable after more than one year | 17 | €2,351,884 | €2,161,036 | -€190,848 | -8.1% |
| Financial debts | 170/4 | €2,351,884 | €2,161,036 | -€190,848 | -8.1% |
| Amounts payable within one year | 42/48 | €734,008 | €296,814 | -€437,194 | -59.6% |
| Current portion of amounts payable after more than one year | 42 | €236,345 | €195,638 | -€40,707 | -17.2% |
| Trade debts | 44 | €0 | €7,263 | +€7,263 | |
| Suppliers | 440/4 | €0 | €7,263 | +€7,263 | |
| Other amounts payable | 47/48 | €497,663 | €93,913 | -€403,750 | -81.1% |
| Remuneration, social security and pensions | 62 | €35,051 | €34,545 | -€506 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185,861 | €214,477 | +€28,617 | +15.4% |
| Other operating charges | 640/8 | €22,871 | €21,607 | -€1,265 | -5.5% |
| Gross operating margin | 9900 | €469,924 | €402,496 | -€67,427 | -14.3% |
| Operating profit (loss) | 9901 | €226,141 | €131,867 | -€94,274 | -41.7% |
| Financial income | 75/76B | €1,797 | €1,239 | -€558 | -31.1% |
| Recurring financial income | 75 | €1,797 | €1,239 | -€558 | -31.1% |
| Financial charges | 65/66B | €73,713 | €68,579 | -€5,134 | -7.0% |
| Recurring financial charges | 65 | €73,713 | €68,579 | -€5,134 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €154,225 | €64,527 | -€89,698 | -58.2% |
| Transfer from deferred taxes | 780 | €18,869 | €13,199 | -€5,670 | -30.1% |
| Profit (loss) for the period | 9904 | €173,095 | €77,726 | -€95,369 | -55.1% |
| Transfer from tax-exempt reserves | 789 | €56,608 | €36,940 | -€19,668 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €229,703 | €114,666 | -€115,037 | -50.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.