HEUVELSVEN: what changed
HEUVELSVEN
Largest movements
- Tangible fixed assets -€33,972
down €33,972 (-3.1%), from €1.1m to €1.1m
of which Land and buildings: -€47,646
- Cash -€20,717
down €20,717 (-46.7%), from €44,367 to €23,650
mainly Debts after one year (-€72,256) and Investment in fixed assets (net) (-€45,761)
- Debts after one year -€72,256
down €72,256 (-33.2%), from €217,408 to €145,152
- Profit (loss) carried forward +€40,970
up €40,970 (+50.3%), from €81,411 to €122,380
- Short-term financial debts +€36,256
new in 2025: €36,256
- Current portion of long-term debt -€35,670
no longer reported in 2025 (was €35,670)
- Trade debts -€23,320
down €23,320 (-64.5%), from €36,131 to €12,810
- Gross operating margin -€11,010
down €11,010 (-8.7%), from €126,457 to €115,448
- Financial income +€9,160
up €9,160 (+8,299%), from €110 to €9,271
of which Non-recurring financial income: +€9,150
- Depreciation +€3,078
up €3,078 (+4.0%), from €77,099 to €80,176
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,158,154 | €1,104,134 | -€54,020 | -4.7% |
| Fixed assets | 21/28 | €1,091,747 | €1,057,332 | -€34,415 | -3.2% |
| Intangible fixed assets | 21 | €1,772 | €1,329 | -€443 | -25.0% |
| Tangible fixed assets | 22/27 | €1,089,975 | €1,056,003 | -€33,972 | -3.1% |
| Land and buildings | 22 | €1,061,371 | €1,013,725 | -€47,646 | -4.5% |
| Plant, machinery and equipment | 23 | €26,228 | €40,590 | +€14,362 | +54.8% |
| Furniture and vehicles | 24 | €2,376 | €1,688 | -€688 | -29.0% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Current assets | 29/58 | €66,407 | €46,802 | -€19,605 | -29.5% |
| Amounts receivable within one year | 40/41 | €22,040 | €23,152 | +€1,112 | +5.0% |
| Trade receivables | 40 | €22,040 | €23,152 | +€1,112 | +5.0% |
| Cash at bank and in hand | 54/58 | €44,367 | €23,650 | -€20,717 | -46.7% |
| Total equity and liabilities | 10/49 | €1,158,154 | €1,104,134 | -€54,020 | -4.7% |
| Equity | 10/15 | €868,945 | €909,915 | +€40,970 | +4.7% |
| Contributions | 10/11 | €411,616 | €411,616 | = | 0.0% |
| Capital | 10 | €411,616 | €411,616 | = | 0.0% |
| Revaluation surpluses | 12 | €295,919 | €295,919 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,411 | €122,380 | +€40,970 | +50.3% |
| Investment grants | 15 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable | 17/49 | €289,209 | €194,219 | -€94,990 | -32.8% |
| Amounts payable after more than one year | 17 | €217,408 | €145,152 | -€72,256 | -33.2% |
| Financial debts | 170/4 | €217,408 | €145,152 | -€72,256 | -33.2% |
| Amounts payable within one year | 42/48 | €71,801 | €49,067 | -€22,734 | -31.7% |
| Current portion of amounts payable after more than one year | 42 | €35,670 | - | -€35,670 | |
| Financial debts | 43 | - | €36,256 | +€36,256 | |
| Credit institutions | 430/8 | - | €36,256 | +€36,256 | |
| Trade debts | 44 | €36,131 | €12,810 | -€23,320 | -64.5% |
| Suppliers | 440/4 | €36,131 | €12,810 | -€23,320 | -64.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,099 | €80,176 | +€3,078 | +4.0% |
| Other operating charges | 640/8 | €309 | €159 | -€150 | -48.6% |
| Gross operating margin | 9900 | €126,457 | €115,448 | -€11,010 | -8.7% |
| Operating profit (loss) | 9901 | €49,050 | €35,113 | -€13,937 | -28.4% |
| Financial income | 75/76B | €110 | €9,271 | +€9,160 | +8,299% |
| Recurring financial income | 75 | €110 | €121 | +€10 | +9.5% |
| Non-recurring financial income | 76B | - | €9,150 | +€9,150 | |
| Financial charges | 65/66B | €3,796 | €3,414 | -€383 | -10.1% |
| Recurring financial charges | 65 | €3,796 | €3,414 | -€383 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €45,364 | €40,970 | -€4,394 | -9.7% |
| Profit (loss) for the period | 9904 | €45,364 | €40,970 | -€4,394 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €45,364 | €40,970 | -€4,394 | -9.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.