HEUVAN: what changed
Two fiscal 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.
HEUVAN
Largest movements
- Tangible fixed assets -€14,432
down €14,432 (-15.1%), from €95,445 to €81,013
of which Leasing and similar rights: -€15,273
- Receivables within one year +€4,778
up €4,778 (+5.4%), from €87,902 to €92,680
of which Other amounts receivable: +€39,007
- Deferred charges and accrued income -€4,301
down €4,301 (-79.5%), from €5,412 to €1,111
- Cash +€2,914
up €2,914 (+16.7%), from €17,466 to €20,380
mainly Net result for the year (+€25,818) and Depreciation (+€25,400)
- Debts after one year -€36,069
down €36,069 (-39.1%), from €92,273 to €56,204
- Profit (loss) carried forward +€22,545
up €22,545, from -€22,545 to €0
- Current portion of long-term debt -€16,955
down €16,955 (-32.0%), from €53,025 to €36,069
- Trade debts +€11,167
up €11,167, from €0 to €11,167
- Other debts +€4,459
up €4,459 (+52.5%), from €8,486 to €12,945
- Gross operating margin +€23,107
up €23,107 (+33.6%), from €68,773 to €91,880
- Staff costs +€5,180
up €5,180 (+24.3%), from €21,304 to €26,485
- Financial charges +€3,527
up €3,527 (+56.6%), from €6,229 to €9,756
- Depreciation -€2,277
down €2,277 (-8.2%), from €27,678 to €25,400
- Other operating charges +€1,397
up €1,397 (+55.8%), from €2,504 to €3,901
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 | €218,217 | €206,549 | -€11,668 | -5.3% |
| Fixed assets | 21/28 | €96,822 | €82,494 | -€14,329 | -14.8% |
| Tangible fixed assets | 22/27 | €95,445 | €81,013 | -€14,432 | -15.1% |
| Land and buildings | 22 | €17,995 | €15,208 | -€2,787 | -15.5% |
| Plant, machinery and equipment | 23 | €8,206 | €11,877 | +€3,672 | +44.7% |
| Furniture and vehicles | 24 | €20,880 | €20,836 | -€44 | -0.2% |
| Leasing and similar rights | 25 | €48,364 | €33,091 | -€15,273 | -31.6% |
| Financial fixed assets | 28 | €1,377 | €1,481 | +€103 | +7.5% |
| Current assets | 29/58 | €121,395 | €124,055 | +€2,660 | +2.2% |
| Stocks and contracts in progress | 3 | €10,615 | €9,885 | -€730 | -6.9% |
| Stocks | 30/36 | €10,615 | €9,885 | -€730 | -6.9% |
| Amounts receivable within one year | 40/41 | €87,902 | €92,680 | +€4,778 | +5.4% |
| Trade receivables | 40 | €82,398 | €48,169 | -€34,230 | -41.5% |
| Other amounts receivable | 41 | €5,504 | €44,511 | +€39,007 | +708.7% |
| Cash at bank and in hand | 54/58 | €17,466 | €20,380 | +€2,914 | +16.7% |
| Deferred charges and accrued income | 490/1 | €5,412 | €1,111 | -€4,301 | -79.5% |
| Total equity and liabilities | 10/49 | €218,217 | €206,549 | -€11,668 | -5.3% |
| Equity | 10/15 | €53,634 | €79,453 | +€25,818 | +48.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €57,579 | €60,853 | +€3,274 | +5.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €57,579 | €60,853 | +€3,274 | +5.7% |
| Profit (loss) carried forward | 14 | -€22,545 | €0 | +€22,545 | |
| Amounts payable | 17/49 | €164,583 | €127,096 | -€37,487 | -22.8% |
| Amounts payable after more than one year | 17 | €92,273 | €56,204 | -€36,069 | -39.1% |
| Financial debts | 170/4 | €92,273 | €56,204 | -€36,069 | -39.1% |
| Amounts payable within one year | 42/48 | €72,310 | €70,892 | -€1,418 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €53,025 | €36,069 | -€16,955 | -32.0% |
| Trade debts | 44 | €0 | €11,167 | +€11,167 | |
| Suppliers | 440/4 | €0 | €11,167 | +€11,167 | |
| Taxes, remuneration and social security | 45 | €10,799 | €10,711 | -€88 | -0.8% |
| Taxes | 450/3 | €4,989 | €4,209 | -€780 | -15.6% |
| Remuneration and social security | 454/9 | €5,810 | €6,502 | +€692 | +11.9% |
| Other amounts payable | 47/48 | €8,486 | €12,945 | +€4,459 | +52.5% |
| Remuneration, social security and pensions | 62 | €21,304 | €26,485 | +€5,180 | +24.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,678 | €25,400 | -€2,277 | -8.2% |
| Other operating charges | 640/8 | €2,504 | €3,901 | +€1,397 | +55.8% |
| Gross operating margin | 9900 | €68,773 | €91,880 | +€23,107 | +33.6% |
| Operating profit (loss) | 9901 | €17,287 | €36,095 | +€18,807 | +108.8% |
| Financial income | 75/76B | €0 | €23 | +€22 | +112400.0% |
| Recurring financial income | 75 | €0 | €23 | +€22 | +112400.0% |
| Financial charges | 65/66B | €6,229 | €9,756 | +€3,527 | +56.6% |
| Recurring financial charges | 65 | €6,229 | €9,756 | +€3,527 | +56.6% |
| Profit (loss) for the period before taxes | 9903 | €11,058 | €26,361 | +€15,303 | +138.4% |
| Income taxes | 67/77 | €190 | €543 | +€353 | +186.1% |
| Profit (loss) for the period | 9904 | €10,868 | €25,818 | +€14,950 | +137.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,868 | €25,818 | +€14,950 | +137.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.