HEUVEL: 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.
HEUVEL
Largest movements
- Tangible fixed assets -€11,046
down €11,046 (-3.8%), from €289,139 to €278,093
- Debts after one year -€10,581
down €10,581 (-15.2%), from €69,636 to €59,055
- Profit (loss) carried forward -€3,785
new in 2025: -€3,785
- Other operating charges +€1,553
up €1,553 (+23.9%), from €6,494 to €8,048
- Gross operating margin +€1,234
up €1,234 (+5.1%), from €24,354 to €25,588
- Financial charges +€415
up €415 (+4.0%), from €10,455 to €10,870
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 | €339,240 | €325,612 | -€13,628 | -4.0% |
| Fixed assets | 21/28 | €289,799 | €278,753 | -€11,046 | -3.8% |
| Tangible fixed assets | 22/27 | €289,139 | €278,093 | -€11,046 | -3.8% |
| Land and buildings | 22 | €289,139 | €278,093 | -€11,046 | -3.8% |
| Financial fixed assets | 28 | €660 | €660 | = | 0.0% |
| Current assets | 29/58 | €49,441 | €46,859 | -€2,581 | -5.2% |
| Amounts receivable within one year | 40/41 | €1,000 | €1,000 | = | 0.0% |
| Other amounts receivable | 41 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €48,441 | €45,859 | -€2,581 | -5.3% |
| Total equity and liabilities | 10/49 | €339,240 | €325,612 | -€13,628 | -4.0% |
| Equity | 10/15 | €61,575 | €57,200 | -€4,375 | -7.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,975 | €42,385 | -€590 | -1.4% |
| Distributable reserves | 133 | €42,975 | €42,385 | -€590 | -1.4% |
| Profit (loss) carried forward | 14 | - | -€3,785 | -€3,785 | |
| Amounts payable | 17/49 | €277,665 | €268,412 | -€9,252 | -3.3% |
| Amounts payable after more than one year | 17 | €69,636 | €59,055 | -€10,581 | -15.2% |
| Financial debts | 170/4 | €69,636 | €59,055 | -€10,581 | -15.2% |
| Amounts payable within one year | 42/48 | €199,584 | €202,690 | +€3,106 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €10,167 | €10,581 | +€414 | +4.1% |
| Trade debts | 44 | €26 | €0 | -€26 | -100% |
| Suppliers | 440/4 | €26 | €0 | -€26 | -100% |
| Other amounts payable | 47/48 | €189,391 | €192,109 | +€2,718 | +1.4% |
| Accrued charges and deferred income | 492/3 | €8,445 | €6,667 | -€1,777 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,046 | €11,046 | = | 0.0% |
| Other operating charges | 640/8 | €6,494 | €8,048 | +€1,553 | +23.9% |
| Gross operating margin | 9900 | €24,354 | €25,588 | +€1,234 | +5.1% |
| Operating profit (loss) | 9901 | €6,814 | €6,494 | -€320 | -4.7% |
| Financial income | 75/76B | €1 | €1 | -€0 | -18.2% |
| Recurring financial income | 75 | €1 | €1 | -€0 | -18.2% |
| Financial charges | 65/66B | €10,455 | €10,870 | +€415 | +4.0% |
| Recurring financial charges | 65 | €10,455 | €10,870 | +€415 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,640 | -€4,375 | -€735 | -20.2% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -17.1% |
| Profit (loss) for the period | 9904 | -€3,640 | -€4,375 | -€735 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,640 | -€4,375 | -€735 | -20.2% |
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 15 October 2026 via checked.be.