HEVIC: 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.
HEVIC
Largest movements
- Intangible fixed assets +€174,136
new in 2025: €174,136
- Stocks and contracts +€138,890
new in 2025: €138,890
- Tangible fixed assets +€56,495
up €56,495 (+53.8%), from €105,057 to €161,552
of which Plant, machinery and equipment: +€39,276
- Receivables after one year -€30,000
down €30,000 (-100%), from €30,000 to €0
- Receivables within one year -€29,560
down €29,560 (-88.6%), from €33,368 to €3,809
of which Trade receivables: -€18,980
- Debts after one year +€201,832
up €201,832 (+375%), from €53,789 to €255,621
- Other debts -€71,273
down €71,273 (-50.5%), from €141,263 to €69,990
- Reserves +€55,972
up €55,972 (+77.3%), from €72,400 to €128,372
- Trade debts +€51,174
new in 2025: €51,174
- Current portion of long-term debt +€33,324
up €33,324 (+195%), from €17,127 to €50,451
- Gross operating margin -€32,508
down €32,508 (-19.1%), from €170,128 to €137,620
- Staff costs +€21,741
new in 2025: €21,741
- Other operating charges +€13,741
up €13,741 (+25,927%), from €53 to €13,794
- Taxes -€12,197
down €12,197 (-34.1%), from €35,819 to €23,622
- Depreciation +€4,607
up €4,607 (+27.1%), from €17,021 to €21,628
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 | €303,179 | €588,611 | +€285,432 | +94.1% |
| Fixed assets | 21/28 | €105,057 | €343,188 | +€238,131 | +227% |
| Intangible fixed assets | 21 | - | €174,136 | +€174,136 | |
| Tangible fixed assets | 22/27 | €105,057 | €161,552 | +€56,495 | +53.8% |
| Plant, machinery and equipment | 23 | - | €39,276 | +€39,276 | |
| Furniture and vehicles | 24 | €10,583 | €3,494 | -€7,090 | -67.0% |
| Other tangible fixed assets | 26 | €94,474 | €118,782 | +€24,308 | +25.7% |
| Financial fixed assets | 28 | - | €7,500 | +€7,500 | |
| Current assets | 29/58 | €198,122 | €245,423 | +€47,301 | +23.9% |
| Amounts receivable after more than one year | 29 | €30,000 | €0 | -€30,000 | -100% |
| Trade receivables | 290 | €30,000 | €0 | -€30,000 | -100% |
| Stocks and contracts in progress | 3 | - | €138,890 | +€138,890 | |
| Stocks | 30/36 | - | €138,890 | +€138,890 | |
| Amounts receivable within one year | 40/41 | €33,368 | €3,809 | -€29,560 | -88.6% |
| Trade receivables | 40 | €22,126 | €3,146 | -€18,980 | -85.8% |
| Other amounts receivable | 41 | €11,242 | €663 | -€10,580 | -94.1% |
| Current investments | 50/53 | €75,614 | €46,327 | -€29,287 | -38.7% |
| Cash at bank and in hand | 54/58 | €57,531 | €55,774 | -€1,757 | -3.1% |
| Deferred charges and accrued income | 490/1 | €1,609 | €624 | -€985 | -61.2% |
| Total equity and liabilities | 10/49 | €303,179 | €588,611 | +€285,432 | +94.1% |
| Equity | 10/15 | €91,000 | €146,972 | +€55,972 | +61.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €72,400 | €128,372 | +€55,972 | +77.3% |
| Distributable reserves | 133 | €72,400 | €128,372 | +€55,972 | +77.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €212,179 | €441,639 | +€229,459 | +108% |
| Amounts payable after more than one year | 17 | €53,789 | €255,621 | +€201,832 | +375% |
| Financial debts | 170/4 | €53,789 | €255,621 | +€201,832 | +375% |
| Amounts payable within one year | 42/48 | €158,390 | €186,018 | +€27,628 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €17,127 | €50,451 | +€33,324 | +195% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | - | €51,174 | +€51,174 | |
| Suppliers | 440/4 | - | €51,174 | +€51,174 | |
| Taxes, remuneration and social security | 45 | €0 | €14,403 | +€14,403 | |
| Taxes | 450/3 | €0 | €4,417 | +€4,417 | |
| Remuneration and social security | 454/9 | €0 | €9,986 | +€9,986 | |
| Other amounts payable | 47/48 | €141,263 | €69,990 | -€71,273 | -50.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €21,741 | +€21,741 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,021 | €21,628 | +€4,607 | +27.1% |
| Other operating charges | 640/8 | €53 | €13,794 | +€13,741 | +25,927% |
| Gross operating margin | 9900 | €170,128 | €137,620 | -€32,508 | -19.1% |
| Operating profit (loss) | 9901 | €153,055 | €80,457 | -€72,597 | -47.4% |
| Financial income | 75/76B | €1,861 | €1,263 | -€598 | -32.1% |
| Recurring financial income | 75 | €1,861 | €1,263 | -€598 | -32.1% |
| Financial charges | 65/66B | €3,439 | €2,126 | -€1,313 | -38.2% |
| Recurring financial charges | 65 | €3,439 | €2,126 | -€1,313 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €151,477 | €79,594 | -€71,882 | -47.5% |
| Income taxes | 67/77 | €35,819 | €23,622 | -€12,197 | -34.1% |
| Profit (loss) for the period | 9904 | €115,658 | €55,972 | -€59,686 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €115,658 | €55,972 | -€59,686 | -51.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.