HEURECA BELGIUM: 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.
HEURECA BELGIUM
Largest movements
- Cash +€5,885
up €5,885 (+39.5%), from €14,901 to €20,786
mainly Net result for the year (+€5,460) and Receivables within one year (+€430)
- Receivables within one year -€430
down €430 (-10.3%), from €4,184 to €3,755
of which Trade receivables: -€430
- Formation expenses -€257
down €257 (-50.0%), from €513 to €257
- Reserves +€5,460
up €5,460 (+47.7%), from €11,446 to €16,906
- Tax, wage and social debts -€596
down €596 (-21.7%), from €2,748 to €2,153
- Trade debts +€334
up €334 (+41.9%), from €797 to €1,131
- Gross operating margin +€2,701
up €2,701 (+52.4%), from €5,154 to €7,855
- Taxes +€1,035
up €1,035 (+109%), from €953 to €1,988
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 | €19,599 | €24,797 | +€5,199 | +26.5% |
| Formation expenses | 20 | €513 | €257 | -€257 | -50.0% |
| Current assets | 29/58 | €19,085 | €24,541 | +€5,455 | +28.6% |
| Amounts receivable within one year | 40/41 | €4,184 | €3,755 | -€430 | -10.3% |
| Trade receivables | 40 | €3,567 | €3,138 | -€430 | -12.0% |
| Other amounts receivable | 41 | €617 | €617 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,901 | €20,786 | +€5,885 | +39.5% |
| Total equity and liabilities | 10/49 | €19,599 | €24,797 | +€5,199 | +26.5% |
| Equity | 10/15 | €15,946 | €21,406 | +€5,460 | +34.2% |
| Contributions | 10/11 | €4,500 | €4,500 | = | 0.0% |
| Reserves | 13 | €11,446 | €16,906 | +€5,460 | +47.7% |
| Distributable reserves | 133 | €11,446 | €16,906 | +€5,460 | +47.7% |
| Amounts payable | 17/49 | €3,653 | €3,391 | -€262 | -7.2% |
| Amounts payable within one year | 42/48 | €3,653 | €3,391 | -€262 | -7.2% |
| Trade debts | 44 | €797 | €1,131 | +€334 | +41.9% |
| Suppliers | 440/4 | €797 | €1,131 | +€334 | +41.9% |
| Taxes, remuneration and social security | 45 | €2,748 | €2,153 | -€596 | -21.7% |
| Taxes | 450/3 | €2,748 | €2,153 | -€596 | -21.7% |
| Other amounts payable | 47/48 | €108 | €108 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €257 | €257 | = | 0.0% |
| Gross operating margin | 9900 | €5,154 | €7,855 | +€2,701 | +52.4% |
| Operating profit (loss) | 9901 | €4,897 | €7,598 | +€2,701 | +55.2% |
| Financial income | 75/76B | €11 | - | -€11 | |
| Recurring financial income | 75 | €11 | - | -€11 | |
| Financial charges | 65/66B | €191 | €150 | -€41 | -21.4% |
| Recurring financial charges | 65 | €191 | €150 | -€41 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €4,718 | €7,448 | +€2,731 | +57.9% |
| Income taxes | 67/77 | €953 | €1,988 | +€1,035 | +109% |
| Profit (loss) for the period | 9904 | €3,765 | €5,460 | +€1,696 | +45.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,765 | €5,460 | +€1,696 | +45.0% |
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 25 October 2026 via checked.be.