HEUVELZON: 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.
HEUVELZON
Largest movements
- Tangible fixed assets -€11,378
down €11,378 (-9.7%), from €116,711 to €105,333
of which Plant, machinery and equipment: -€11,760
- Receivables within one year +€3,437
up €3,437 (+7.3%), from €46,907 to €50,344
of which Other amounts receivable: +€3,437
- Deferred charges and accrued income -€2,370
down €2,370 (-65.8%), from €3,600 to €1,230
- Debts after one year -€18,716
down €18,716 (-27.4%), from €68,316 to €49,600
- Profit (loss) carried forward +€13,343
up €13,343 (+79.6%), from €16,770 to €30,113
- Trade debts -€9,216
down €9,216 (-43.3%), from €21,291 to €12,075
- Current portion of long-term debt +€4,933
up €4,933 (+27.4%), from €17,995 to €22,927
- Tax, wage and social debts +€3,820
up €3,820 (+29.6%), from €12,927 to €16,747
of which Taxes: +€2,619
- Gross operating margin -€15,024
down €15,024 (-15.9%), from €94,769 to €79,745
- Staff costs -€7,485
down €7,485 (-19.0%), from €39,478 to €31,993
- Financial income +€2,289
up €2,289 (+2,289,160%), from €0 to €2,289
- Taxes +€2,115
up €2,115 (+851%), from €249 to €2,364
- Other operating charges -€1,832
down €1,832 (-43.0%), from €4,257 to €2,425
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 | €170,688 | €161,332 | -€9,356 | -5.5% |
| Fixed assets | 21/28 | €116,711 | €105,333 | -€11,378 | -9.7% |
| Tangible fixed assets | 22/27 | €116,711 | €105,333 | -€11,378 | -9.7% |
| Plant, machinery and equipment | 23 | €94,760 | €83,000 | -€11,760 | -12.4% |
| Furniture and vehicles | 24 | €20,891 | €21,273 | +€382 | +1.8% |
| Other tangible fixed assets | 26 | €1,060 | €1,060 | = | 0.0% |
| Current assets | 29/58 | €53,978 | €56,000 | +€2,022 | +3.7% |
| Amounts receivable within one year | 40/41 | €46,907 | €50,344 | +€3,437 | +7.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €46,907 | €50,344 | +€3,437 | +7.3% |
| Cash at bank and in hand | 54/58 | €3,471 | €4,426 | +€955 | +27.5% |
| Deferred charges and accrued income | 490/1 | €3,600 | €1,230 | -€2,370 | -65.8% |
| Total equity and liabilities | 10/49 | €170,688 | €161,332 | -€9,356 | -5.5% |
| Equity | 10/15 | €36,770 | €50,113 | +€13,343 | +36.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,770 | €30,113 | +€13,343 | +79.6% |
| Amounts payable | 17/49 | €133,918 | €111,220 | -€22,699 | -16.9% |
| Amounts payable after more than one year | 17 | €68,316 | €49,600 | -€18,716 | -27.4% |
| Financial debts | 170/4 | €68,316 | €49,600 | -€18,716 | -27.4% |
| Amounts payable within one year | 42/48 | €65,603 | €61,620 | -€3,983 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €17,995 | €22,927 | +€4,933 | +27.4% |
| Trade debts | 44 | €21,291 | €12,075 | -€9,216 | -43.3% |
| Suppliers | 440/4 | €21,291 | €12,075 | -€9,216 | -43.3% |
| Taxes, remuneration and social security | 45 | €12,927 | €16,747 | +€3,820 | +29.6% |
| Taxes | 450/3 | €10,020 | €12,639 | +€2,619 | +26.1% |
| Remuneration and social security | 454/9 | €2,907 | €4,108 | +€1,201 | +41.3% |
| Other amounts payable | 47/48 | €13,390 | €9,870 | -€3,520 | -26.3% |
| Remuneration, social security and pensions | 62 | €39,478 | €31,993 | -€7,485 | -19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,288 | €27,061 | -€1,227 | -4.3% |
| Other operating charges | 640/8 | €4,257 | €2,425 | -€1,832 | -43.0% |
| Gross operating margin | 9900 | €94,769 | €79,745 | -€15,024 | -15.9% |
| Operating profit (loss) | 9901 | €22,746 | €18,266 | -€4,479 | -19.7% |
| Financial income | 75/76B | €0 | €2,289 | +€2,289 | +2,289,160% |
| Recurring financial income | 75 | €0 | €2,289 | +€2,289 | +2,289,160% |
| Financial charges | 65/66B | €3,465 | €4,849 | +€1,384 | +39.9% |
| Recurring financial charges | 65 | €3,465 | €4,849 | +€1,384 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €19,281 | €15,706 | -€3,574 | -18.5% |
| Income taxes | 67/77 | €249 | €2,364 | +€2,115 | +851% |
| Profit (loss) for the period | 9904 | €19,032 | €13,343 | -€5,689 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €19,032 | €13,343 | -€5,689 | -29.9% |
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 17 October 2026 via checked.be.