HEUVEREM: 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.
HEUVEREM
Largest movements
- Cash +€28,033
up €28,033 (+15.1%), from €185,093 to €213,126
mainly Net result for the year (+€220,425) and Current investments (+€9,107)
- Other debts -€202,777
down €202,777 (-99.3%), from €204,297 to €1,519
- Profit (loss) carried forward +€113,525
up €113,525 (+106.2%), from €106,900 to €220,425
- Reserves +€106,900
up €106,900 (+9.4%), from €1.1m to €1.2m
of which Distributable reserves: +€106,900
- Financial income +€112,500
new in 2025: €112,500
- Financial charges -€7,625
down €7,625 (-40.6%), from €18,783 to €11,159
- Gross operating margin -€5,671
down €5,671 (-3.4%), from €167,048 to €161,377
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 | €1,726,505 | €1,739,530 | +€13,024 | +0.8% |
| Fixed assets | 21/28 | €1,036,931 | €1,030,952 | -€5,979 | -0.6% |
| Tangible fixed assets | 22/27 | €124,182 | €118,203 | -€5,979 | -4.8% |
| Land and buildings | 22 | €122,271 | €116,965 | -€5,306 | -4.3% |
| Plant, machinery and equipment | 23 | €704 | €374 | -€330 | -46.9% |
| Leasing and similar rights | 25 | €1,207 | €865 | -€343 | -28.4% |
| Financial fixed assets | 28 | €912,750 | €912,750 | = | 0.0% |
| Current assets | 29/58 | €689,574 | €708,577 | +€19,003 | +2.8% |
| Amounts receivable within one year | 40/41 | €24,575 | €24,575 | = | 0.0% |
| Trade receivables | 40 | €24,503 | €24,503 | = | 0.0% |
| Other amounts receivable | 41 | €72 | €72 | = | 0.0% |
| Current investments | 50/53 | €478,374 | €469,266 | -€9,107 | -1.9% |
| Cash at bank and in hand | 54/58 | €185,093 | €213,126 | +€28,033 | +15.1% |
| Deferred charges and accrued income | 490/1 | €1,533 | €1,610 | +€77 | +5.0% |
| Total equity and liabilities | 10/49 | €1,726,505 | €1,739,530 | +€13,024 | +0.8% |
| Equity | 10/15 | €1,291,524 | €1,511,949 | +€220,425 | +17.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,134,623 | €1,241,524 | +€106,900 | +9.4% |
| Non-distributable reserves | 130/1 | €16,000 | €16,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €1,118,623 | €1,225,524 | +€106,900 | +9.6% |
| Profit (loss) carried forward | 14 | €106,900 | €220,425 | +€113,525 | +106.2% |
| Amounts payable | 17/49 | €434,982 | €227,581 | -€207,401 | -47.7% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Financial debts | 170/4 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €234,982 | €27,581 | -€207,401 | -88.3% |
| Current portion of amounts payable after more than one year | 42 | €12,500 | - | -€12,500 | |
| Trade debts | 44 | €1,445 | €1,643 | +€198 | +13.7% |
| Suppliers | 440/4 | €1,445 | €1,643 | +€198 | +13.7% |
| Taxes, remuneration and social security | 45 | €16,740 | €24,419 | +€7,679 | +45.9% |
| Taxes | 450/3 | €16,740 | €24,419 | +€7,679 | +45.9% |
| Other amounts payable | 47/48 | €204,297 | €1,519 | -€202,777 | -99.3% |
| Remuneration, social security and pensions | 62 | €3,578 | €4,126 | +€548 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,936 | €5,979 | +€43 | +0.7% |
| Other operating charges | 640/8 | €1,619 | €1,649 | +€30 | +1.8% |
| Gross operating margin | 9900 | €167,048 | €161,377 | -€5,671 | -3.4% |
| Operating profit (loss) | 9901 | €155,915 | €149,623 | -€6,291 | -4.0% |
| Financial income | 75/76B | - | €112,500 | +€112,500 | |
| Recurring financial income | 75 | - | €112,500 | +€112,500 | |
| Financial charges | 65/66B | €18,783 | €11,159 | -€7,625 | -40.6% |
| Recurring financial charges | 65 | €18,783 | €11,159 | -€7,625 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €137,131 | €250,965 | +€113,833 | +83.0% |
| Income taxes | 67/77 | €30,231 | €30,539 | +€309 | +1.0% |
| Profit (loss) for the period | 9904 | €106,900 | €220,425 | +€113,525 | +106.2% |
| Profit (loss) for the period to be appropriated | 9905 | €106,900 | €220,425 | +€113,525 | +106.2% |
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 9 October 2026 via checked.be.