HERITECH: 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.
HERITECH
Largest movements
- Current investments +€150,000
up €150,000 (+75.0%), from €200,000 to €350,000
- Cash -€73,601
down €73,601 (-53.0%), from €138,851 to €65,250
mainly Current investments (-€150,000) and Investment in fixed assets (net) (-€73,160)
- Receivables within one year +€48,284
up €48,284 (+70.5%), from €68,517 to €116,801
of which Trade receivables: +€52,936
- Reserves +€127,737
up €127,737 (+41.0%), from €311,565 to €439,302
- Debts after one year -€28,177
down €28,177 (-9.6%), from €292,582 to €264,405
- Tax, wage and social debts +€13,612
up €13,612 (+79.0%), from €17,237 to €30,848
- Gross operating margin +€21,837
up €21,837 (+8.9%), from €245,742 to €267,580
- Taxes +€9,777
up €9,777 (+21.9%), from €44,718 to €54,495
- Depreciation -€7,714
down €7,714 (-8.7%), from €88,715 to €81,001
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 | €1,133,694 | €1,248,227 | +€114,533 | +10.1% |
| Fixed assets | 21/28 | €714,056 | €706,215 | -€7,841 | -1.1% |
| Tangible fixed assets | 22/27 | €713,986 | €706,145 | -€7,841 | -1.1% |
| Land and buildings | 22 | €548,104 | €518,233 | -€29,871 | -5.4% |
| Plant, machinery and equipment | 23 | €158,779 | €112,638 | -€46,141 | -29.1% |
| Furniture and vehicles | 24 | €6,318 | €74,707 | +€68,390 | +1082.5% |
| Other tangible fixed assets | 26 | €786 | €567 | -€219 | -27.8% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €419,638 | €542,012 | +€122,374 | +29.2% |
| Stocks and contracts in progress | 3 | €11,120 | €6,337 | -€4,782 | -43.0% |
| Stocks | 30/36 | €11,120 | €6,337 | -€4,782 | -43.0% |
| Amounts receivable within one year | 40/41 | €68,517 | €116,801 | +€48,284 | +70.5% |
| Trade receivables | 40 | €60,406 | €113,342 | +€52,936 | +87.6% |
| Other amounts receivable | 41 | €8,111 | €3,459 | -€4,652 | -57.4% |
| Current investments | 50/53 | €200,000 | €350,000 | +€150,000 | +75.0% |
| Cash at bank and in hand | 54/58 | €138,851 | €65,250 | -€73,601 | -53.0% |
| Deferred charges and accrued income | 490/1 | €1,150 | €3,623 | +€2,473 | +215.1% |
| Total equity and liabilities | 10/49 | €1,133,694 | €1,248,227 | +€114,533 | +10.1% |
| Equity | 10/15 | €779,236 | €906,973 | +€127,737 | +16.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €311,565 | €439,302 | +€127,737 | +41.0% |
| Distributable reserves | 133 | €311,565 | €439,302 | +€127,737 | +41.0% |
| Profit (loss) carried forward | 14 | €461,471 | €461,471 | = | 0.0% |
| Amounts payable | 17/49 | €354,458 | €341,254 | -€13,204 | -3.7% |
| Amounts payable after more than one year | 17 | €292,582 | €264,405 | -€28,177 | -9.6% |
| Financial debts | 170/4 | €292,582 | €264,405 | -€28,177 | -9.6% |
| Amounts payable within one year | 42/48 | €61,876 | €76,849 | +€14,973 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | €27,944 | €28,177 | +€233 | +0.8% |
| Trade debts | 44 | €16,695 | €17,499 | +€804 | +4.8% |
| Suppliers | 440/4 | €16,695 | €17,499 | +€804 | +4.8% |
| Taxes, remuneration and social security | 45 | €17,237 | €30,848 | +€13,612 | +79.0% |
| Taxes | 450/3 | €17,237 | €30,848 | +€13,612 | +79.0% |
| Other amounts payable | 47/48 | - | €324 | +€324 | |
| Non-recurring operating income | 76A | - | €6,169 | +€6,169 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,715 | €81,001 | -€7,714 | -8.7% |
| Other operating charges | 640/8 | €5,276 | €5,596 | +€320 | +6.1% |
| Gross operating margin | 9900 | €245,742 | €267,580 | +€21,837 | +8.9% |
| Operating profit (loss) | 9901 | €151,751 | €180,983 | +€29,232 | +19.3% |
| Financial income | 75/76B | €7,434 | €4,962 | -€2,472 | -33.3% |
| Recurring financial income | 75 | €7,434 | €4,962 | -€2,472 | -33.3% |
| Financial charges | 65/66B | €3,681 | €3,713 | +€32 | +0.9% |
| Recurring financial charges | 65 | €3,681 | €3,713 | +€32 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €155,504 | €182,232 | +€26,728 | +17.2% |
| Income taxes | 67/77 | €44,718 | €54,495 | +€9,777 | +21.9% |
| Profit (loss) for the period | 9904 | €110,786 | €127,737 | +€16,951 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €110,786 | €127,737 | +€16,951 | +15.3% |
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.