HEUVA: 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.
HEUVA
Largest movements
- Receivables within one year +€272,308
up €272,308 (+66.4%), from €409,951 to €682,259
of which Trade receivables: +€234,424
- Trade debts +€160,117
up €160,117 (+57.3%), from €279,487 to €439,604
- Other debts +€104,758
up €104,758 (+583%), from €17,955 to €122,713
- Staff costs +€58,870
up €58,870 (+573%), from €10,266 to €69,137
- Financial income +€52,302
up €52,302 (+1,555%), from €3,364 to €55,666
- Gross operating margin +€23,428
up €23,428 (+55.7%), from €42,033 to €65,461
- Write-downs +€10,985
new in 2025: €10,985
- Financial charges -€2,582
down €2,582 (-16.8%), from €15,341 to €12,759
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 | €424,853 | €687,594 | +€262,741 | +61.8% |
| Fixed assets | 21/28 | €2,400 | €0 | -€2,400 | -100% |
| Financial fixed assets | 28 | €2,400 | €0 | -€2,400 | -100% |
| Current assets | 29/58 | €422,453 | €687,594 | +€265,141 | +62.8% |
| Amounts receivable within one year | 40/41 | €409,951 | €682,259 | +€272,308 | +66.4% |
| Trade receivables | 40 | €190,620 | €425,044 | +€234,424 | +123% |
| Other amounts receivable | 41 | €219,331 | €257,215 | +€37,884 | +17.3% |
| Cash at bank and in hand | 54/58 | €11,503 | €5,335 | -€6,168 | -53.6% |
| Deferred charges and accrued income | 490/1 | €1,000 | €0 | -€1,000 | -100% |
| Total equity and liabilities | 10/49 | €424,853 | €687,594 | +€262,741 | +61.8% |
| Equity | 10/15 | €125,277 | €125,277 | = | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €119,077 | €119,077 | = | 0.0% |
| Distributable reserves | 133 | €119,077 | €119,077 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €299,577 | €562,318 | +€262,741 | +87.7% |
| Amounts payable within one year | 42/48 | €299,577 | €562,318 | +€262,741 | +87.7% |
| Current portion of amounts payable after more than one year | 42 | €2,134 | €0 | -€2,134 | -100% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €279,487 | €439,604 | +€160,117 | +57.3% |
| Suppliers | 440/4 | €279,487 | €439,604 | +€160,117 | +57.3% |
| Other amounts payable | 47/48 | €17,955 | €122,713 | +€104,758 | +583% |
| Remuneration, social security and pensions | 62 | €10,266 | €69,137 | +€58,870 | +573% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,985 | +€10,985 | |
| Other operating charges | 640/8 | €1,834 | €827 | -€1,007 | -54.9% |
| Gross operating margin | 9900 | €42,033 | €65,461 | +€23,428 | +55.7% |
| Operating profit (loss) | 9901 | €29,932 | -€15,488 | -€45,420 | |
| Financial income | 75/76B | €3,364 | €55,666 | +€52,302 | +1,555% |
| Recurring financial income | 75 | €3,364 | €55,666 | +€52,302 | +1,555% |
| Financial charges | 65/66B | €15,341 | €12,759 | -€2,582 | -16.8% |
| Recurring financial charges | 65 | €15,341 | €12,759 | -€2,582 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €17,955 | €27,420 | +€9,465 | +52.7% |
| Profit (loss) for the period | 9904 | €17,955 | €27,420 | +€9,465 | +52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,955 | €27,420 | +€9,465 | +52.7% |
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.