HEYAERT: what changed
Two fiscal 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.
HEYAERT
Largest movements
- Cash -€21,128
down €21,128 (-30.1%), from €70,194 to €49,066
mainly Contributions, distributions and other (-€20,000) and Receivables within one year (-€4,963)
- Receivables within one year +€4,963
up €4,963 (+84.1%), from €5,903 to €10,866
of which Other amounts receivable: +€8,327
- Tangible fixed assets -€4,779
down €4,779 (-4.5%), from €106,603 to €101,823
of which Land and buildings: -€2,729
- Profit (loss) carried forward -€18,025
down €18,025 (-17.4%), from €103,394 to €85,368
- Current portion of long-term debt +€4,500
new in 2025: €4,500
- Tax, wage and social debts -€3,112
down €3,112 (-100.0%), from €3,112 to €0
- Other debts -€2,925
down €2,925 (-12.8%), from €22,925 to €20,000
- Gross operating margin -€36,218
down €36,218 (-58.4%), from €62,017 to €25,799
- Taxes -€8,164
down €8,164 (-95.2%), from €8,577 to €413
- Other operating charges -€5,575
down €5,575 (-25.8%), from €21,588 to €16,012
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 | €183,747 | €162,896 | -€20,851 | -11.3% |
| Fixed assets | 21/28 | €106,603 | €101,823 | -€4,779 | -4.5% |
| Tangible fixed assets | 22/27 | €106,603 | €101,823 | -€4,779 | -4.5% |
| Land and buildings | 22 | €99,106 | €96,377 | -€2,729 | -2.8% |
| Plant, machinery and equipment | 23 | €203 | €102 | -€102 | -50.0% |
| Furniture and vehicles | 24 | €1,903 | €1,407 | -€496 | -26.1% |
| Other tangible fixed assets | 26 | €5,390 | €3,937 | -€1,452 | -26.9% |
| Current assets | 29/58 | €77,144 | €61,073 | -€16,071 | -20.8% |
| Amounts receivable within one year | 40/41 | €5,903 | €10,866 | +€4,963 | +84.1% |
| Trade receivables | 40 | €4,826 | €1,463 | -€3,363 | -69.7% |
| Other amounts receivable | 41 | €1,077 | €9,403 | +€8,327 | +773.4% |
| Cash at bank and in hand | 54/58 | €70,194 | €49,066 | -€21,128 | -30.1% |
| Deferred charges and accrued income | 490/1 | €1,048 | €1,141 | +€93 | +8.8% |
| Total equity and liabilities | 10/49 | €183,747 | €162,896 | -€20,851 | -11.3% |
| Equity | 10/15 | €156,214 | €138,189 | -€18,025 | -11.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Revaluation surpluses | 12 | €32,416 | €32,416 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €103,394 | €85,368 | -€18,025 | -17.4% |
| Amounts payable | 17/49 | €27,533 | €24,707 | -€2,825 | -10.3% |
| Amounts payable within one year | 42/48 | €26,285 | €24,707 | -€1,578 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | - | €4,500 | +€4,500 | |
| Trade debts | 44 | €248 | €207 | -€41 | -16.5% |
| Suppliers | 440/4 | €248 | €207 | -€41 | -16.5% |
| Taxes, remuneration and social security | 45 | €3,112 | €0 | -€3,112 | -100.0% |
| Taxes | 450/3 | €3,112 | €0 | -€3,112 | -100.0% |
| Other amounts payable | 47/48 | €22,925 | €20,000 | -€2,925 | -12.8% |
| Accrued charges and deferred income | 492/3 | €1,247 | €0 | -€1,247 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,636 | €7,087 | +€451 | +6.8% |
| Other operating charges | 640/8 | €21,588 | €16,012 | -€5,575 | -25.8% |
| Gross operating margin | 9900 | €62,017 | €25,799 | -€36,218 | -58.4% |
| Operating profit (loss) | 9901 | €33,793 | €2,699 | -€31,094 | -92.0% |
| Financial income | 75/76B | €5 | €0 | -€5 | -99.2% |
| Recurring financial income | 75 | €5 | €0 | -€5 | -99.2% |
| Financial charges | 65/66B | €343 | €312 | -€31 | -9.1% |
| Recurring financial charges | 65 | €343 | €312 | -€31 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €33,455 | €2,388 | -€31,068 | -92.9% |
| Income taxes | 67/77 | €8,577 | €413 | -€8,164 | -95.2% |
| Profit (loss) for the period | 9904 | €24,879 | €1,975 | -€22,904 | -92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,879 | €1,975 | -€22,904 | -92.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.