HET GEHEIM: 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.
HET GEHEIM
Largest movements
- Cash -€90,874
down €90,874 (-92.9%), from €97,818 to €6,944
mainly Receivables within one year (-€87,661) and Other debts (-€5,121)
- Receivables within one year +€87,661
up €87,661 (+4921.7%), from €1,781 to €89,442
of which Other amounts receivable: +€87,892
- Other debts -€5,121
no longer reported in 2025 (was €5,121)
- Trade debts +€3,114
up €3,114 (+894.2%), from €348 to €3,463
- Gross operating margin -€110,571
down €110,571 (-99.5%), from €111,086 to €514
- Financial charges -€24,122
down €24,122 (-97.3%), from €24,788 to €665
of which Non-recurring financial charges: -€19,878
- Taxes -€9,512
no longer reported in 2025 (was €9,512)
- Depreciation +€2,640
new in 2025: €2,640
- Financial income +€2,242
new in 2025: €2,242
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 | €133,229 | €130,275 | -€2,955 | -2.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €33,630 | €32,990 | -€640 | -1.9% |
| Tangible fixed assets | 22/27 | €33,630 | €32,990 | -€640 | -1.9% |
| Land and buildings | 22 | €22,640 | €22,000 | -€640 | -2.8% |
| Furniture and vehicles | 24 | €10,990 | €10,990 | = | 0.0% |
| Current assets | 29/58 | €99,599 | €97,285 | -€2,315 | -2.3% |
| Amounts receivable within one year | 40/41 | €1,781 | €89,442 | +€87,661 | +4921.7% |
| Trade receivables | 40 | €231 | - | -€231 | |
| Other amounts receivable | 41 | €1,550 | €89,442 | +€87,892 | +5670.5% |
| Cash at bank and in hand | 54/58 | €97,818 | €6,944 | -€90,874 | -92.9% |
| Deferred charges and accrued income | 490/1 | - | €898 | +€898 | |
| Total equity and liabilities | 10/49 | €133,229 | €130,275 | -€2,955 | -2.2% |
| Equity | 10/15 | €118,248 | €117,300 | -€948 | -0.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €18,248 | €18,248 | = | 0.0% |
| Distributable reserves | 133 | €18,248 | €18,248 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€948 | -€948 | |
| Amounts payable | 17/49 | €14,981 | €12,975 | -€2,006 | -13.4% |
| Amounts payable within one year | 42/48 | €14,981 | €12,975 | -€2,006 | -13.4% |
| Trade debts | 44 | €348 | €3,463 | +€3,114 | +894.2% |
| Suppliers | 440/4 | €348 | €3,463 | +€3,114 | +894.2% |
| Taxes, remuneration and social security | 45 | €9,512 | €9,512 | = | 0.0% |
| Taxes | 450/3 | €9,512 | €9,512 | = | 0.0% |
| Other amounts payable | 47/48 | €5,121 | - | -€5,121 | |
| Non-recurring operating income | 76A | €99,142 | €2,000 | -€97,142 | -98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,640 | +€2,640 | |
| Other operating charges | 640/8 | €2,369 | €400 | -€1,969 | -83.1% |
| Gross operating margin | 9900 | €111,086 | €514 | -€110,571 | -99.5% |
| Operating profit (loss) | 9901 | €108,717 | -€2,526 | -€111,242 | |
| Financial income | 75/76B | - | €2,242 | +€2,242 | |
| Recurring financial income | 75 | - | €2,242 | +€2,242 | |
| Financial charges | 65/66B | €24,788 | €665 | -€24,122 | -97.3% |
| Recurring financial charges | 65 | €4,909 | €665 | -€4,244 | -86.5% |
| Non-recurring financial charges | 66B | €19,878 | - | -€19,878 | |
| Profit (loss) for the period before taxes | 9903 | €83,929 | -€948 | -€84,877 | |
| Income taxes | 67/77 | €9,512 | - | -€9,512 | |
| Profit (loss) for the period | 9904 | €74,417 | -€948 | -€75,366 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,417 | -€948 | -€75,366 |
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 11 October 2026 via checked.be.