HEROES EN C°: 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.
HEROES EN C°
Largest movements
- Current investments +€1.2m
up €1.2m (+153%), from €750,000 to €1.9m
- Cash -€384,104
down €384,104 (-19.5%), from €2.0m to €1.6m
mainly Current investments (-€1.2m) and Investment in fixed assets (net) (-€104,459)
- Tangible fixed assets -€118,484
down €118,484 (-8.0%), from €1.5m to €1.4m
of which Furniture and vehicles: -€82,437
- Stocks and contracts -€98,403
down €98,403 (-29.3%), from €335,895 to €237,491
- Receivables within one year -€67,718
down €67,718 (-19.7%), from €342,977 to €275,258
of which Other amounts receivable: -€78,180
- Reserves +€588,817
up €588,817 (+21.1%), from €2.8m to €3.4m
of which Distributable reserves: +€388,842
- Trade debts -€83,821
down €83,821 (-16.4%), from €511,488 to €427,668
- Gross operating margin +€260,059
up €260,059 (+19.2%), from €1.4m to €1.6m
- Taxes +€58,722
up €58,722 (+32.7%), from €179,730 to €238,453
- Depreciation -€21,626
down €21,626 (-9.2%), from €236,074 to €214,449
- Financial income -€19,333
down €19,333 (-42.3%), from €45,747 to €26,414
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.
Derived cash bridge
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 | €4,890,930 | €5,382,694 | +€491,764 | +10.1% |
| Fixed assets | 21/28 | €1,493,892 | €1,383,902 | -€109,990 | -7.4% |
| Intangible fixed assets | 21 | - | €8,494 | +€8,494 | |
| Tangible fixed assets | 22/27 | €1,489,522 | €1,371,039 | -€118,484 | -8.0% |
| Land and buildings | 22 | €1,106,545 | €1,090,480 | -€16,065 | -1.5% |
| Plant, machinery and equipment | 23 | €77,869 | €57,888 | -€19,981 | -25.7% |
| Furniture and vehicles | 24 | €305,109 | €222,671 | -€82,437 | -27.0% |
| Financial fixed assets | 28 | €4,370 | €4,370 | = | 0.0% |
| Current assets | 29/58 | €3,397,038 | €3,998,792 | +€601,754 | +17.7% |
| Stocks and contracts in progress | 3 | €335,895 | €237,491 | -€98,403 | -29.3% |
| Stocks | 30/36 | €335,895 | €237,491 | -€98,403 | -29.3% |
| Amounts receivable within one year | 40/41 | €342,977 | €275,258 | -€67,718 | -19.7% |
| Trade receivables | 40 | €264,797 | €275,258 | +€10,461 | +4.0% |
| Other amounts receivable | 41 | €78,180 | - | -€78,180 | |
| Current investments | 50/53 | €750,000 | €1,900,000 | +€1.2m | +153% |
| Cash at bank and in hand | 54/58 | €1,968,166 | €1,584,062 | -€384,104 | -19.5% |
| Deferred charges and accrued income | 490/1 | - | €1,980 | +€1,980 | |
| Total equity and liabilities | 10/49 | €4,890,930 | €5,382,694 | +€491,764 | +10.1% |
| Equity | 10/15 | €3,896,529 | €4,485,346 | +€588,817 | +15.1% |
| Contributions | 10/11 | €1,108,300 | €1,108,300 | = | 0.0% |
| Capital | 10 | €1,108,300 | €1,108,300 | = | 0.0% |
| Issued capital | 100 | €1,108,300 | €1,108,300 | = | 0.0% |
| Reserves | 13 | €2,788,229 | €3,377,046 | +€588,817 | +21.1% |
| Non-distributable reserves | 130/1 | €142,330 | €142,330 | = | 0.0% |
| Legal reserve | 130 | €142,330 | €142,330 | = | 0.0% |
| Tax-exempt reserves | 132 | €674,129 | €874,104 | +€199,975 | +29.7% |
| Distributable reserves | 133 | €1,971,770 | €2,360,612 | +€388,842 | +19.7% |
| Amounts payable | 17/49 | €994,401 | €897,348 | -€97,053 | -9.8% |
| Amounts payable after more than one year | 17 | €319,690 | €319,690 | = | 0.0% |
| Other amounts payable | 178/9 | €319,690 | €319,690 | = | 0.0% |
| Amounts payable within one year | 42/48 | €669,585 | €561,814 | -€107,771 | -16.1% |
| Financial debts | 43 | €369 | €701 | +€332 | +90.1% |
| Credit institutions | 430/8 | €369 | €701 | +€332 | +90.1% |
| Trade debts | 44 | €511,488 | €427,668 | -€83,821 | -16.4% |
| Suppliers | 440/4 | €511,488 | €427,668 | -€83,821 | -16.4% |
| Taxes, remuneration and social security | 45 | €139,780 | €115,497 | -€24,283 | -17.4% |
| Taxes | 450/3 | €83,806 | €73,342 | -€10,463 | -12.5% |
| Remuneration and social security | 454/9 | €55,975 | €42,155 | -€13,820 | -24.7% |
| Other amounts payable | 47/48 | €17,947 | €17,947 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €5,126 | €15,844 | +€10,718 | +209% |
| Remuneration, social security and pensions | 62 | €498,021 | €510,608 | +€12,588 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €236,074 | €214,449 | -€21,626 | -9.2% |
| Other operating charges | 640/8 | €62,212 | €64,479 | +€2,268 | +3.6% |
| Gross operating margin | 9900 | €1,353,505 | €1,613,564 | +€260,059 | +19.2% |
| Operating profit (loss) | 9901 | €557,199 | €824,027 | +€266,828 | +47.9% |
| Financial income | 75/76B | €45,747 | €26,414 | -€19,333 | -42.3% |
| Recurring financial income | 75 | €45,747 | €26,414 | -€19,333 | -42.3% |
| Financial charges | 65/66B | €29,263 | €23,171 | -€6,091 | -20.8% |
| Recurring financial charges | 65 | €29,263 | €23,171 | -€6,091 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €573,683 | €827,270 | +€253,587 | +44.2% |
| Income taxes | 67/77 | €179,730 | €238,453 | +€58,722 | +32.7% |
| Profit (loss) for the period | 9904 | €393,953 | €588,817 | +€194,864 | +49.5% |
| Transfer to tax-exempt reserves | 689 | - | €199,975 | +€199,975 | |
| Profit (loss) for the period to be appropriated | 9905 | €393,953 | €388,842 | -€5,111 | -1.3% |
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 21 October 2026 via checked.be.