HERON: 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.
HERON
Largest movements
- Cash -€88,096
down €88,096 (-78.1%), from €112,871 to €24,775
mainly Contributions, distributions and other (-€132,149) and Receivables within one year (-€10,812)
- Receivables within one year +€10,812
up €10,812 (+89.8%), from €12,039 to €22,851
of which Other amounts receivable: +€6,661
- Tangible fixed assets +€5,825
up €5,825 (+40.3%), from €14,460 to €20,285
of which Furniture and vehicles: +€6,394
- Reserves -€101,129
down €101,129 (-100.0%), from €101,129 to €0
- Other debts +€34,755
up €34,755 (+227.2%), from €15,295 to €50,050
- Tax, wage and social debts -€9,804
down €9,804 (-49.4%), from €19,861 to €10,057
of which Taxes: -€11,804
- Trade debts +€3,559
up €3,559 (+285.8%), from €1,245 to €4,804
- Depreciation +€3,512
up €3,512 (+1535.5%), from €229 to €3,740
- Gross operating margin -€2,344
down €2,344 (-4.3%), from €53,952 to €51,607
- Financial charges +€2,035
up €2,035 (+143.4%), from €1,419 to €3,454
- Taxes -€1,445
down €1,445 (-11.3%), from €12,763 to €11,318
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 | €139,531 | €67,911 | -€71,620 | -51.3% |
| Fixed assets | 21/28 | €14,460 | €20,285 | +€5,825 | +40.3% |
| Tangible fixed assets | 22/27 | €14,460 | €20,285 | +€5,825 | +40.3% |
| Furniture and vehicles | 24 | €8,995 | €15,389 | +€6,394 | +71.1% |
| Other tangible fixed assets | 26 | €5,465 | €4,896 | -€569 | -10.4% |
| Current assets | 29/58 | €125,071 | €47,626 | -€77,445 | -61.9% |
| Amounts receivable within one year | 40/41 | €12,039 | €22,851 | +€10,812 | +89.8% |
| Trade receivables | 40 | €12,039 | €16,190 | +€4,151 | +34.5% |
| Other amounts receivable | 41 | - | €6,661 | +€6,661 | |
| Cash at bank and in hand | 54/58 | €112,871 | €24,775 | -€88,096 | -78.1% |
| Deferred charges and accrued income | 490/1 | €161 | €0 | -€161 | -100.0% |
| Total equity and liabilities | 10/49 | €139,531 | €67,911 | -€71,620 | -51.3% |
| Equity | 10/15 | €103,129 | €2,000 | -€101,129 | -98.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €101,129 | €0 | -€101,129 | -100.0% |
| Distributable reserves | 133 | €101,129 | €0 | -€101,129 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €36,402 | €65,911 | +€29,509 | +81.1% |
| Amounts payable within one year | 42/48 | €36,402 | €64,911 | +€28,509 | +78.3% |
| Trade debts | 44 | €1,245 | €4,804 | +€3,559 | +285.8% |
| Suppliers | 440/4 | €1,245 | €4,804 | +€3,559 | +285.8% |
| Taxes, remuneration and social security | 45 | €19,861 | €10,057 | -€9,804 | -49.4% |
| Taxes | 450/3 | €19,861 | €8,057 | -€11,804 | -59.4% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €15,295 | €50,050 | +€34,755 | +227.2% |
| Accrued charges and deferred income | 492/3 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €229 | €3,740 | +€3,512 | +1535.5% |
| Other operating charges | 640/8 | €1,833 | €2,076 | +€243 | +13.2% |
| Gross operating margin | 9900 | €53,952 | €51,607 | -€2,344 | -4.3% |
| Operating profit (loss) | 9901 | €51,890 | €45,791 | -€6,099 | -11.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,419 | €3,454 | +€2,035 | +143.4% |
| Recurring financial charges | 65 | €1,419 | €3,454 | +€2,035 | +143.4% |
| Profit (loss) for the period before taxes | 9903 | €50,470 | €42,337 | -€8,133 | -16.1% |
| Income taxes | 67/77 | €12,763 | €11,318 | -€1,445 | -11.3% |
| Profit (loss) for the period | 9904 | €37,708 | €31,020 | -€6,688 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,708 | €31,020 | -€6,688 | -17.7% |
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 4 October 2026 via checked.be.