HERONsports: 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.
HERONsports
Largest movements
- Cash -€183,036
down €183,036 (-58.3%), from €313,840 to €130,804
mainly Investment in fixed assets (net) (-€327,301) and Other debts (-€12,224)
- Tangible fixed assets +€180,488
up €180,488 (+74.4%), from €242,522 to €423,010
of which Plant, machinery and equipment: +€98,764
- Intangible fixed assets +€65,787
up €65,787 (+3,289%), from €2,000 to €67,787
- Deferred charges and accrued income +€10,953
up €10,953 (+87.2%), from €12,557 to €23,510
- Investment grants +€67,839
up €67,839 (+19.7%), from €344,238 to €412,077
- Reserves +€20,000
up €20,000 (+26.1%), from €76,687 to €96,687
of which Distributable reserves: +€20,000
- Provisions +€16,960
up €16,960 (+19.7%), from €86,059 to €103,019
- Other debts -€12,224
down €12,224 (-57.4%), from €21,288 to €9,064
- Trade debts -€11,605
down €11,605 (-54.4%), from €21,324 to €9,718
- Staff costs +€262,363
up €262,363 (+780%), from €33,635 to €295,998
- Financial income +€165,223
up €165,223 (+337%), from €49,100 to €214,324
- Depreciation +€36,429
up €36,429 (+81.7%), from €44,597 to €81,026
- Taxes -€19,158
down €19,158 (-75.5%), from €25,369 to €6,211
- Gross operating margin -€10,463
down €10,463 (-6.9%), from €151,440 to €140,976
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 | €651,042 | €722,431 | +€71,390 | +11.0% |
| Fixed assets | 21/28 | €244,925 | €491,201 | +€246,276 | +101% |
| Intangible fixed assets | 21 | €2,000 | €67,787 | +€65,787 | +3,289% |
| Tangible fixed assets | 22/27 | €242,522 | €423,010 | +€180,488 | +74.4% |
| Plant, machinery and equipment | 23 | €71,280 | €170,044 | +€98,764 | +139% |
| Furniture and vehicles | 24 | €171,242 | €252,966 | +€81,724 | +47.7% |
| Financial fixed assets | 28 | €403 | €403 | = | 0.0% |
| Current assets | 29/58 | €406,116 | €231,231 | -€174,886 | -43.1% |
| Stocks and contracts in progress | 3 | €6,615 | €6,615 | = | 0.0% |
| Stocks | 30/36 | €6,615 | €6,615 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €73,105 | €70,302 | -€2,803 | -3.8% |
| Trade receivables | 40 | €72,502 | €51,449 | -€21,053 | -29.0% |
| Other amounts receivable | 41 | €603 | €18,853 | +€18,250 | +3,025% |
| Cash at bank and in hand | 54/58 | €313,840 | €130,804 | -€183,036 | -58.3% |
| Deferred charges and accrued income | 490/1 | €12,557 | €23,510 | +€10,953 | +87.2% |
| Total equity and liabilities | 10/49 | €651,042 | €722,431 | +€71,390 | +11.0% |
| Equity | 10/15 | €475,127 | €565,485 | +€90,358 | +19.0% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €76,687 | €96,687 | +€20,000 | +26.1% |
| Tax-exempt reserves | 132 | €1,687 | €1,687 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €95,000 | +€20,000 | +26.7% |
| Profit (loss) carried forward | 14 | €24,203 | €26,722 | +€2,519 | +10.4% |
| Investment grants | 15 | €344,238 | €412,077 | +€67,839 | +19.7% |
| Provisions and deferred taxes | 16 | €86,059 | €103,019 | +€16,960 | +19.7% |
| Deferred taxes | 168 | €86,059 | €103,019 | +€16,960 | +19.7% |
| Amounts payable | 17/49 | €89,855 | €53,927 | -€35,928 | -40.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €81,018 | €47,724 | -€33,294 | -41.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €21,324 | €9,718 | -€11,605 | -54.4% |
| Suppliers | 440/4 | €21,324 | €9,718 | -€11,605 | -54.4% |
| Taxes, remuneration and social security | 45 | €38,407 | €28,942 | -€9,465 | -24.6% |
| Taxes | 450/3 | €38,407 | €28,942 | -€9,465 | -24.6% |
| Other amounts payable | 47/48 | €21,288 | €9,064 | -€12,224 | -57.4% |
| Accrued charges and deferred income | 492/3 | €8,837 | €6,203 | -€2,634 | -29.8% |
| Non-recurring operating income | 76A | €13,700 | €0 | -€13,700 | -100% |
| Remuneration, social security and pensions | 62 | €33,635 | €295,998 | +€262,363 | +780% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,597 | €81,026 | +€36,429 | +81.7% |
| Other operating charges | 640/8 | €985 | €1,367 | +€382 | +38.8% |
| Gross operating margin | 9900 | €151,440 | €140,976 | -€10,463 | -6.9% |
| Operating profit (loss) | 9901 | €72,223 | -€237,415 | -€309,638 | |
| Financial income | 75/76B | €49,100 | €214,324 | +€165,223 | +337% |
| Recurring financial income | 75 | €49,100 | €214,324 | +€165,223 | +337% |
| Financial charges | 65/66B | €5,278 | €1,382 | -€3,896 | -73.8% |
| Recurring financial charges | 65 | €5,278 | €1,382 | -€3,896 | -73.8% |
| Profit (loss) for the period before taxes | 9903 | €116,045 | -€24,473 | -€140,518 | |
| Transfer from deferred taxes | 780 | €12,275 | €53,203 | +€40,928 | +333% |
| Income taxes | 67/77 | €25,369 | €6,211 | -€19,158 | -75.5% |
| Profit (loss) for the period | 9904 | €102,951 | €22,519 | -€80,433 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | €102,951 | €22,519 | -€80,433 | -78.1% |
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 23 October 2026 via checked.be.