Heritage Projects: 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 Projects
Largest movements
- Stocks and contracts +€45,250
up €45,250 (+9.6%), from €469,477 to €514,727
- Receivables within one year -€23,133
down €23,133 (-98.4%), from €23,513 to €380
- Cash -€7,573
down €7,573 (-30.5%), from €24,792 to €17,219
mainly Stocks and contracts (-€45,250) and Net result for the year (-€12,658)
- Other debts +€33,000
up €33,000 (+19.0%), from €174,032 to €207,032
- Profit (loss) carried forward -€12,658
down €12,658 (-33.5%), from -€37,777 to -€50,434
- Trade debts -€5,798
down €5,798 (-97.8%), from €5,926 to €128
- Gross operating margin -€2,378
down €2,378 (-179.7%), from -€1,323 to -€3,701
- Other operating charges +€122
up €122 (+1.4%), from €8,730 to €8,852
- Financial income -€40
down €40 (-100.0%), from €40 to €0
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 | €517,781 | €532,326 | +€14,544 | +2.8% |
| Current assets | 29/58 | €517,781 | €532,326 | +€14,544 | +2.8% |
| Stocks and contracts in progress | 3 | €469,477 | €514,727 | +€45,250 | +9.6% |
| Stocks | 30/36 | €469,477 | €514,727 | +€45,250 | +9.6% |
| Amounts receivable within one year | 40/41 | €23,513 | €380 | -€23,133 | -98.4% |
| Other amounts receivable | 41 | €23,513 | €380 | -€23,133 | -98.4% |
| Cash at bank and in hand | 54/58 | €24,792 | €17,219 | -€7,573 | -30.5% |
| Total equity and liabilities | 10/49 | €517,781 | €532,326 | +€14,544 | +2.8% |
| Equity | 10/15 | €292,223 | €279,566 | -€12,658 | -4.3% |
| Contributions | 10/11 | €330,000 | €330,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,777 | -€50,434 | -€12,658 | -33.5% |
| Amounts payable | 17/49 | €225,558 | €252,760 | +€27,202 | +12.1% |
| Amounts payable within one year | 42/48 | €225,558 | €252,760 | +€27,202 | +12.1% |
| Trade debts | 44 | €5,926 | €128 | -€5,798 | -97.8% |
| Suppliers | 440/4 | €5,926 | €128 | -€5,798 | -97.8% |
| Advances received on contracts in progress | 46 | €45,600 | €45,600 | = | 0.0% |
| Other amounts payable | 47/48 | €174,032 | €207,032 | +€33,000 | +19.0% |
| Other operating charges | 640/8 | €8,730 | €8,852 | +€122 | +1.4% |
| Gross operating margin | 9900 | -€1,323 | -€3,701 | -€2,378 | -179.7% |
| Operating profit (loss) | 9901 | -€10,054 | -€12,553 | -€2,499 | -24.9% |
| Financial income | 75/76B | €40 | €0 | -€40 | -100.0% |
| Recurring financial income | 75 | €40 | €0 | -€40 | -100.0% |
| Financial charges | 65/66B | €95 | €105 | +€10 | +10.4% |
| Recurring financial charges | 65 | €95 | €105 | +€10 | +10.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,109 | -€12,658 | -€2,549 | -25.2% |
| Profit (loss) for the period | 9904 | -€10,109 | -€12,658 | -€2,549 | -25.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,109 | -€12,658 | -€2,549 | -25.2% |
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 10 October 2026 via checked.be.