HEUKEMES René: 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.
HEUKEMES René
Largest movements
- Cash +€224,538
up €224,538 (+74.3%), from €302,373 to €526,910
mainly Receivables within one year (+€153,822) and Net result for the year (+€57,854)
- Receivables within one year -€153,822
down €153,822 (-75.9%), from €202,588 to €48,765
of which Trade receivables: -€168,141
- Tangible fixed assets -€17,406
down €17,406 (-73.9%), from €23,542 to €6,136
- Reserves +€57,850
up €57,850 (+72.4%), from €79,914 to €137,764
of which Distributable reserves: +€57,850
- Other debts -€12,275
no longer reported in 2025 (was €12,275)
- Staff costs -€91,969
down €91,969 (-67.8%), from €135,622 to €43,653
- Taxes +€9,447
up €9,447 (+3,936%), from €240 to €9,687
- Depreciation -€3,938
down €3,938 (-35.4%), from €11,122 to €7,185
- Gross operating margin -€2,125
down €2,125 (-1.7%), from €126,262 to €124,138
- Financial charges -€1,952
down €1,952 (-36.0%), from €5,418 to €3,467
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 | €536,556 | €583,586 | +€47,030 | +8.8% |
| Fixed assets | 21/28 | €23,542 | €6,136 | -€17,406 | -73.9% |
| Tangible fixed assets | 22/27 | €23,542 | €6,136 | -€17,406 | -73.9% |
| Land and buildings | 22 | €7,307 | - | -€7,307 | |
| Plant, machinery and equipment | 23 | €8,846 | €5,208 | -€3,638 | -41.1% |
| Furniture and vehicles | 24 | €7,389 | €928 | -€6,461 | -87.4% |
| Current assets | 29/58 | €513,014 | €577,450 | +€64,436 | +12.6% |
| Stocks and contracts in progress | 3 | €1,181 | - | -€1,181 | |
| Stocks | 30/36 | €1,181 | - | -€1,181 | |
| Amounts receivable within one year | 40/41 | €202,588 | €48,765 | -€153,822 | -75.9% |
| Trade receivables | 40 | €200,079 | €31,938 | -€168,141 | -84.0% |
| Other amounts receivable | 41 | €2,508 | €16,827 | +€14,319 | +571% |
| Cash at bank and in hand | 54/58 | €302,373 | €526,910 | +€224,538 | +74.3% |
| Deferred charges and accrued income | 490/1 | €6,873 | €1,775 | -€5,098 | -74.2% |
| Total equity and liabilities | 10/49 | €536,556 | €583,586 | +€47,030 | +8.8% |
| Equity | 10/15 | €471,831 | €529,685 | +€57,854 | +12.3% |
| Contributions | 10/11 | €82,500 | €82,500 | = | 0.0% |
| Reserves | 13 | €79,914 | €137,764 | +€57,850 | +72.4% |
| Non-distributable reserves | 130/1 | €13,634 | €13,634 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,634 | €13,634 | = | 0.0% |
| Distributable reserves | 133 | €66,280 | €124,130 | +€57,850 | +87.3% |
| Profit (loss) carried forward | 14 | €309,417 | €309,421 | +€4 | 0.0% |
| Provisions and deferred taxes | 16 | €15,973 | €18,347 | +€2,374 | +14.9% |
| Provisions for liabilities and charges | 160/5 | €15,973 | €18,347 | +€2,374 | +14.9% |
| Other liabilities and charges | 164/5 | €15,973 | €18,347 | +€2,374 | +14.9% |
| Amounts payable | 17/49 | €48,751 | €35,554 | -€13,197 | -27.1% |
| Amounts payable within one year | 42/48 | €48,751 | €35,554 | -€13,197 | -27.1% |
| Trade debts | 44 | €28,102 | €23,565 | -€4,537 | -16.1% |
| Suppliers | 440/4 | €28,102 | €23,565 | -€4,537 | -16.1% |
| Taxes, remuneration and social security | 45 | €8,374 | €11,989 | +€3,615 | +43.2% |
| Taxes | 450/3 | €2,198 | €11,989 | +€9,791 | +445% |
| Remuneration and social security | 454/9 | €6,176 | - | -€6,176 | |
| Other amounts payable | 47/48 | €12,275 | - | -€12,275 | |
| Remuneration, social security and pensions | 62 | €135,622 | €43,653 | -€91,969 | -67.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,122 | €7,185 | -€3,938 | -35.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €604 | €2,374 | +€1,770 | +293% |
| Other operating charges | 640/8 | €3,083 | €3,405 | +€323 | +10.5% |
| Gross operating margin | 9900 | €126,262 | €124,138 | -€2,125 | -1.7% |
| Operating profit (loss) | 9901 | -€24,169 | €67,521 | +€91,690 | |
| Financial income | 75/76B | €3,329 | €3,486 | +€157 | +4.7% |
| Recurring financial income | 75 | €3,329 | €3,486 | +€157 | +4.7% |
| Financial charges | 65/66B | €5,418 | €3,467 | -€1,952 | -36.0% |
| Recurring financial charges | 65 | €5,418 | €3,467 | -€1,952 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | -€26,258 | €67,541 | +€93,799 | |
| Income taxes | 67/77 | €240 | €9,687 | +€9,447 | +3,936% |
| Profit (loss) for the period | 9904 | -€26,498 | €57,854 | +€84,352 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,498 | €57,854 | +€84,352 |
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 20 October 2026 via checked.be.