HEROES: 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.
HEROES
Largest movements
- Cash -€26,433
down €26,433 (-24.9%), from €106,234 to €79,801
mainly Tax, wage and social debts (-€22,705) and Other debts (-€4,396)
- Receivables within one year +€3,695
up €3,695 (+15.0%), from €24,633 to €28,328
of which Trade receivables: +€3,706
- Tax, wage and social debts -€22,705
down €22,705 (-68.5%), from €33,141 to €10,436
- Other debts -€4,396
down €4,396 (-36.4%), from €12,083 to €7,687
- Profit (loss) carried forward +€1,766
up €1,766 (+156.8%), from €1,126 to €2,892
- Gross operating margin -€43,701
down €43,701 (-89.1%), from €49,029 to €5,329
- Taxes -€6,942
down €6,942 (-83.3%), from €8,328 to €1,387
- Depreciation -€1,920
down €1,920 (-61.6%), from €3,118 to €1,198
- Other operating charges -€1,381
down €1,381 (-64.1%), from €2,155 to €773
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 | €134,328 | €109,821 | -€24,507 | -18.2% |
| Fixed assets | 21/28 | €2,008 | €810 | -€1,198 | -59.7% |
| Tangible fixed assets | 22/27 | €2,008 | €810 | -€1,198 | -59.7% |
| Plant, machinery and equipment | 23 | €254 | €119 | -€135 | -53.1% |
| Furniture and vehicles | 24 | €1,754 | €691 | -€1,063 | -60.6% |
| Current assets | 29/58 | €132,320 | €109,011 | -€23,309 | -17.6% |
| Amounts receivable within one year | 40/41 | €24,633 | €28,328 | +€3,695 | +15.0% |
| Trade receivables | 40 | €24,621 | €28,328 | +€3,706 | +15.1% |
| Other amounts receivable | 41 | €12 | €0 | -€12 | -100.0% |
| Cash at bank and in hand | 54/58 | €106,234 | €79,801 | -€26,433 | -24.9% |
| Deferred charges and accrued income | 490/1 | €1,454 | €883 | -€571 | -39.3% |
| Total equity and liabilities | 10/49 | €134,328 | €109,821 | -€24,507 | -18.2% |
| Equity | 10/15 | €88,814 | €90,580 | +€1,766 | +2.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €84,688 | €84,688 | = | 0.0% |
| Distributable reserves | 133 | €84,688 | €84,688 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,126 | €2,892 | +€1,766 | +156.8% |
| Amounts payable | 17/49 | €45,514 | €19,241 | -€26,273 | -57.7% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €45,514 | €19,241 | -€26,273 | -57.7% |
| Financial debts | 43 | €56 | €0 | -€56 | -100.0% |
| Other loans | 439 | €56 | €0 | -€56 | -100.0% |
| Trade debts | 44 | €234 | €1,118 | +€884 | +377.6% |
| Suppliers | 440/4 | €234 | €1,118 | +€884 | +377.6% |
| Taxes, remuneration and social security | 45 | €33,141 | €10,436 | -€22,705 | -68.5% |
| Taxes | 450/3 | €33,141 | €10,436 | -€22,705 | -68.5% |
| Other amounts payable | 47/48 | €12,083 | €7,687 | -€4,396 | -36.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,118 | €1,198 | -€1,920 | -61.6% |
| Other operating charges | 640/8 | €2,155 | €773 | -€1,381 | -64.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €49,029 | €5,329 | -€43,701 | -89.1% |
| Operating profit (loss) | 9901 | €43,756 | €3,357 | -€40,399 | -92.3% |
| Financial income | 75/76B | €428 | €624 | +€196 | +45.9% |
| Recurring financial income | 75 | €428 | €624 | +€196 | +45.9% |
| Financial charges | 65/66B | €1,026 | €829 | -€197 | -19.2% |
| Recurring financial charges | 65 | €1,026 | €829 | -€197 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €43,158 | €3,152 | -€40,006 | -92.7% |
| Income taxes | 67/77 | €8,328 | €1,387 | -€6,942 | -83.3% |
| Profit (loss) for the period | 9904 | €34,830 | €1,766 | -€33,064 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,830 | €1,766 | -€33,064 | -94.9% |
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 6 October 2026 via checked.be.