Heritage Development: 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.
Heritage Development
Largest movements
- Stocks and contracts +€96,103
up €96,103 (+4.1%), from €2.4m to €2.5m
- Cash +€25,584
up €25,584 (+267.0%), from €9,582 to €35,165
mainly Debts after one year (+€107,322) and Current portion of long-term debt (+€50,000)
- Debts after one year +€107,322
up €107,322 (+4.6%), from €2.4m to €2.5m
of which Other amounts payable: +€64,450
- Current portion of long-term debt +€50,000
up €50,000 (+100.0%), from €50,000 to €100,000
- Profit (loss) carried forward -€25,868
down €25,868 (-13.7%), from -€189,169 to -€215,037
- Gross operating margin -€15,562
down €15,562 (-26.6%), from €58,435 to €42,872
- Financial charges -€1,572
down €1,572 (-2.4%), from €64,403 to €62,831
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 | €2,377,413 | €2,493,387 | +€115,974 | +4.9% |
| Current assets | 29/58 | €2,377,413 | €2,493,387 | +€115,974 | +4.9% |
| Stocks and contracts in progress | 3 | €2,360,020 | €2,456,123 | +€96,103 | +4.1% |
| Stocks | 30/36 | €2,360,020 | €2,456,123 | +€96,103 | +4.1% |
| Amounts receivable within one year | 40/41 | €7,812 | €2,099 | -€5,713 | -73.1% |
| Other amounts receivable | 41 | €7,812 | €2,099 | -€5,713 | -73.1% |
| Cash at bank and in hand | 54/58 | €9,582 | €35,165 | +€25,584 | +267.0% |
| Total equity and liabilities | 10/49 | €2,377,413 | €2,493,387 | +€115,974 | +4.9% |
| Equity | 10/15 | -€89,159 | -€115,027 | -€25,868 | -29.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10 | €10 | = | 0.0% |
| Distributable reserves | 133 | €10 | €10 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€189,169 | -€215,037 | -€25,868 | -13.7% |
| Amounts payable | 17/49 | €2,466,572 | €2,608,414 | +€141,842 | +5.8% |
| Amounts payable after more than one year | 17 | €2,358,428 | €2,465,750 | +€107,322 | +4.6% |
| Financial debts | 170/4 | €557,128 | €600,000 | +€42,872 | +7.7% |
| Other amounts payable | 178/9 | €1,801,300 | €1,865,750 | +€64,450 | +3.6% |
| Amounts payable within one year | 42/48 | €108,145 | €142,664 | +€34,519 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Trade debts | 44 | €20,764 | €5,283 | -€15,481 | -74.6% |
| Suppliers | 440/4 | €20,764 | €5,283 | -€15,481 | -74.6% |
| Advances received on contracts in progress | 46 | €37,381 | €37,381 | = | 0.0% |
| Other operating charges | 640/8 | €5,746 | €5,909 | +€164 | +2.8% |
| Gross operating margin | 9900 | €58,435 | €42,872 | -€15,562 | -26.6% |
| Operating profit (loss) | 9901 | €52,689 | €36,963 | -€15,726 | -29.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €64,403 | €62,831 | -€1,572 | -2.4% |
| Recurring financial charges | 65 | €64,403 | €62,831 | -€1,572 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,714 | -€25,868 | -€14,154 | -120.8% |
| Profit (loss) for the period | 9904 | -€11,714 | -€25,868 | -€14,154 | -120.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,714 | -€25,868 | -€14,154 | -120.8% |
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 12 October 2026 via checked.be.