HeVa Projects: 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.
HeVa Projects
Largest movements
- Stocks and contracts +€8,957
new in 2025: €8,957
- Cash +€2,628
up €2,628 (+159%), from €1,648 to €4,275
mainly Other debts (+€3,446) and Tax, wage and social debts (+€2,509)
- Receivables within one year -€2,145
down €2,145 (-68.3%), from €3,140 to €995
of which Trade receivables: -€1,794
- Formation expenses -€815
down €815 (-20.5%), from €3,981 to €3,166
- Tangible fixed assets -€374
down €374 (-34.4%), from €1,087 to €714
of which Furniture and vehicles: -€1,087
- Other debts +€3,446
up €3,446 (+66.3%), from €5,194 to €8,640
- Tax, wage and social debts +€2,509
up €2,509 (+202%), from €1,243 to €3,753
- Reserves +€1,700
up €1,700 (+198%), from €860 to €2,560
- Accrued charges and deferred income +€631
new in 2025: €631
- Trade debts +€254
up €254 (+8.0%), from €3,158 to €3,412
- Gross operating margin +€4,415
up €4,415 (+264%), from €1,669 to €6,085
- Taxes +€2,385
up €2,385 (+349%), from €684 to €3,069
- Depreciation +€1,063
up €1,063 (+846%), from €126 to €1,188
- Other operating charges +€128
new in 2025: €128
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 | €12,955 | €21,495 | +€8,539 | +65.9% |
| Formation expenses | 20 | €3,981 | €3,166 | -€815 | -20.5% |
| Fixed assets | 21/28 | €1,087 | €714 | -€374 | -34.4% |
| Tangible fixed assets | 22/27 | €1,087 | €714 | -€374 | -34.4% |
| Plant, machinery and equipment | 23 | - | €714 | +€714 | |
| Furniture and vehicles | 24 | €1,087 | - | -€1,087 | |
| Current assets | 29/58 | €7,887 | €17,615 | +€9,728 | +123% |
| Stocks and contracts in progress | 3 | - | €8,957 | +€8,957 | |
| Contracts in progress | 37 | - | €8,957 | +€8,957 | |
| Amounts receivable within one year | 40/41 | €3,140 | €995 | -€2,145 | -68.3% |
| Trade receivables | 40 | €1,794 | €0 | -€1,794 | -100% |
| Other amounts receivable | 41 | €1,346 | €995 | -€351 | -26.1% |
| Cash at bank and in hand | 54/58 | €1,648 | €4,275 | +€2,628 | +159% |
| Deferred charges and accrued income | 490/1 | €3,100 | €3,387 | +€288 | +9.3% |
| Total equity and liabilities | 10/49 | €12,955 | €21,495 | +€8,539 | +65.9% |
| Equity | 10/15 | €3,360 | €5,060 | +€1,700 | +50.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €860 | €2,560 | +€1,700 | +198% |
| Distributable reserves | 133 | €860 | €2,560 | +€1,700 | +198% |
| Amounts payable | 17/49 | €9,595 | €16,435 | +€6,839 | +71.3% |
| Amounts payable within one year | 42/48 | €9,595 | €15,804 | +€6,208 | +64.7% |
| Trade debts | 44 | €3,158 | €3,412 | +€254 | +8.0% |
| Suppliers | 440/4 | €3,158 | €3,412 | +€254 | +8.0% |
| Taxes, remuneration and social security | 45 | €1,243 | €3,753 | +€2,509 | +202% |
| Taxes | 450/3 | €1,243 | €3,753 | +€2,509 | +202% |
| Other amounts payable | 47/48 | €5,194 | €8,640 | +€3,446 | +66.3% |
| Accrued charges and deferred income | 492/3 | - | €631 | +€631 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126 | €1,188 | +€1,063 | +846% |
| Other operating charges | 640/8 | - | €128 | +€128 | |
| Gross operating margin | 9900 | €1,669 | €6,085 | +€4,415 | +264% |
| Operating profit (loss) | 9901 | €1,544 | €4,768 | +€3,225 | +209% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | - | €0 | +€0 | |
| Recurring financial charges | 65 | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €1,544 | €4,769 | +€3,225 | +209% |
| Income taxes | 67/77 | €684 | €3,069 | +€2,385 | +349% |
| Profit (loss) for the period | 9904 | €860 | €1,700 | +€840 | +97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €860 | €1,700 | +€840 | +97.6% |
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 20 October 2026 via checked.be.