HEUKER DAVID: 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.
HEUKER DAVID
Largest movements
- Cash -€131,978
down €131,978 (-94.2%), from €140,094 to €8,116
mainly Contributions, distributions and other (-€312,534) and Investment in fixed assets (net) (-€181,062)
- Tangible fixed assets +€107,070
up €107,070 (+14.1%), from €759,429 to €866,499
of which Furniture and vehicles: +€100,428
- Receivables within one year +€28,297
up €28,297 (+427%), from €6,629 to €34,926
of which Trade receivables: +€20,000
- Profit (loss) carried forward -€242,019
down €242,019 (-95.8%), from €252,534 to €10,516
- Other debts +€178,188
up €178,188 (+298%), from €59,737 to €237,925
- Current portion of long-term debt +€27,032
up €27,032 (+37.7%), from €71,718 to €98,750
- Debts after one year +€26,192
up €26,192 (+6.4%), from €407,182 to €433,374
- Tax, wage and social debts +€11,302
up €11,302 (+545%), from €2,073 to €13,375
- Financial charges +€17,492
up €17,492 (+24.6%), from €70,997 to €88,489
- Gross operating margin +€15,790
up €15,790 (+6.6%), from €240,948 to €256,738
- Depreciation +€15,316
up €15,316 (+26.1%), from €58,676 to €73,992
- Financial income -€13,914
no longer reported in 2025 (was €13,914)
- Taxes -€9,569
down €9,569 (-32.3%), from €29,643 to €20,074
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 | €933,151 | €939,969 | +€6,818 | +0.7% |
| Fixed assets | 21/28 | €759,429 | €866,499 | +€107,070 | +14.1% |
| Tangible fixed assets | 22/27 | €759,429 | €866,499 | +€107,070 | +14.1% |
| Land and buildings | 22 | €367,356 | €351,966 | -€15,390 | -4.2% |
| Plant, machinery and equipment | 23 | €367,143 | €389,176 | +€22,032 | +6.0% |
| Furniture and vehicles | 24 | €24,930 | €125,358 | +€100,428 | +403% |
| Current assets | 29/58 | €173,722 | €73,470 | -€100,252 | -57.7% |
| Amounts receivable within one year | 40/41 | €6,629 | €34,926 | +€28,297 | +427% |
| Trade receivables | 40 | - | €20,000 | +€20,000 | |
| Other amounts receivable | 41 | €6,629 | €14,926 | +€8,297 | +125% |
| Cash at bank and in hand | 54/58 | €140,094 | €8,116 | -€131,978 | -94.2% |
| Deferred charges and accrued income | 490/1 | €27,000 | €30,428 | +€3,428 | +12.7% |
| Total equity and liabilities | 10/49 | €933,151 | €939,969 | +€6,818 | +0.7% |
| Equity | 10/15 | €387,212 | €145,193 | -€242,019 | -62.5% |
| Contributions | 10/11 | €92,750 | €92,750 | = | 0.0% |
| Reserves | 13 | €41,928 | €41,928 | = | 0.0% |
| Distributable reserves | 133 | €41,928 | €41,928 | = | 0.0% |
| Profit (loss) carried forward | 14 | €252,534 | €10,516 | -€242,019 | -95.8% |
| Amounts payable | 17/49 | €545,940 | €794,776 | +€248,837 | +45.6% |
| Amounts payable after more than one year | 17 | €407,182 | €433,374 | +€26,192 | +6.4% |
| Financial debts | 170/4 | €407,182 | €433,374 | +€26,192 | +6.4% |
| Amounts payable within one year | 42/48 | €138,758 | €361,402 | +€222,644 | +160% |
| Current portion of amounts payable after more than one year | 42 | €71,718 | €98,750 | +€27,032 | +37.7% |
| Financial debts | 43 | - | €9,375 | +€9,375 | |
| Credit institutions | 430/8 | - | €9,375 | +€9,375 | |
| Trade debts | 44 | €5,231 | €1,977 | -€3,254 | -62.2% |
| Suppliers | 440/4 | €5,231 | €1,977 | -€3,254 | -62.2% |
| Taxes, remuneration and social security | 45 | €2,073 | €13,375 | +€11,302 | +545% |
| Taxes | 450/3 | €2,073 | €13,375 | +€11,302 | +545% |
| Other amounts payable | 47/48 | €59,737 | €237,925 | +€178,188 | +298% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,676 | €73,992 | +€15,316 | +26.1% |
| Other operating charges | 640/8 | €2,419 | €3,667 | +€1,247 | +51.6% |
| Gross operating margin | 9900 | €240,948 | €256,738 | +€15,790 | +6.6% |
| Operating profit (loss) | 9901 | €179,852 | €179,079 | -€773 | -0.4% |
| Financial income | 75/76B | €13,914 | - | -€13,914 | |
| Recurring financial income | 75 | €13,914 | - | -€13,914 | |
| Financial charges | 65/66B | €70,997 | €88,489 | +€17,492 | +24.6% |
| Recurring financial charges | 65 | €70,997 | €88,489 | +€17,492 | +24.6% |
| Profit (loss) for the period before taxes | 9903 | €122,769 | €90,590 | -€32,180 | -26.2% |
| Income taxes | 67/77 | €29,643 | €20,074 | -€9,569 | -32.3% |
| Profit (loss) for the period | 9904 | €93,126 | €70,516 | -€22,611 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €93,126 | €70,516 | -€22,611 | -24.3% |
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 17 October 2026 via checked.be.