HEYDENS: 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.
HEYDENS
Largest movements
- Tangible fixed assets +€571,405
up €571,405 (+3,172%), from €18,012 to €589,417
of which Land and buildings: +€546,568
- Cash +€135,402
up €135,402 (+165%), from €81,823 to €217,225
mainly Debts after one year (+€431,977) and Other debts (+€222,817)
- Receivables within one year -€33,152
down €33,152 (-52.2%), from €63,517 to €30,364
- Intangible fixed assets -€19,500
down €19,500 (-11.2%), from €173,875 to €154,375
- Debts after one year +€431,977
new in 2025: €431,977
- Other debts +€222,817
up €222,817 (+92.1%), from €241,806 to €464,623
- Short-term financial debts +€16,995
new in 2025: €16,995
- Gross operating margin -€66,614
down €66,614 (-59.4%), from €112,074 to €45,460
- Taxes -€22,313
down €22,313, from €21,678 to -€635
- Depreciation +€13,255
up €13,255 (+44.6%), from €29,753 to €43,008
- Financial charges +€12,243
up €12,243 (+64,132%), from €19 to €12,262
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 | €339,187 | €994,932 | +€655,745 | +193% |
| Fixed assets | 21/28 | €191,887 | €745,152 | +€553,265 | +288% |
| Intangible fixed assets | 21 | €173,875 | €154,375 | -€19,500 | -11.2% |
| Tangible fixed assets | 22/27 | €18,012 | €589,417 | +€571,405 | +3,172% |
| Land and buildings | 22 | - | €546,568 | +€546,568 | |
| Plant, machinery and equipment | 23 | €8,429 | €38,265 | +€29,836 | +354% |
| Furniture and vehicles | 24 | €9,583 | €4,583 | -€5,000 | -52.2% |
| Financial fixed assets | 28 | - | €1,360 | +€1,360 | |
| Current assets | 29/58 | €147,300 | €249,780 | +€102,480 | +69.6% |
| Amounts receivable within one year | 40/41 | €63,517 | €30,364 | -€33,152 | -52.2% |
| Trade receivables | 40 | €63,517 | €30,364 | -€33,152 | -52.2% |
| Cash at bank and in hand | 54/58 | €81,823 | €217,225 | +€135,402 | +165% |
| Deferred charges and accrued income | 490/1 | €1,961 | €2,191 | +€230 | +11.8% |
| Total equity and liabilities | 10/49 | €339,187 | €994,932 | +€655,745 | +193% |
| Equity | 10/15 | €62,213 | €52,584 | -€9,629 | -15.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €59,713 | €59,713 | = | 0.0% |
| Distributable reserves | 133 | €59,713 | €59,713 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€9,629 | -€9,629 | |
| Amounts payable | 17/49 | €276,974 | €942,348 | +€665,374 | +240% |
| Amounts payable after more than one year | 17 | - | €431,977 | +€431,977 | |
| Financial debts | 170/4 | - | €431,977 | +€431,977 | |
| Amounts payable within one year | 42/48 | €276,974 | €510,371 | +€233,397 | +84.3% |
| Financial debts | 43 | - | €16,995 | +€16,995 | |
| Credit institutions | 430/8 | - | €16,995 | +€16,995 | |
| Trade debts | 44 | €3,134 | €4,044 | +€910 | +29.0% |
| Suppliers | 440/4 | €3,134 | €4,044 | +€910 | +29.0% |
| Taxes, remuneration and social security | 45 | €32,034 | €24,710 | -€7,324 | -22.9% |
| Taxes | 450/3 | €32,034 | €24,710 | -€7,324 | -22.9% |
| Other amounts payable | 47/48 | €241,806 | €464,623 | +€222,817 | +92.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,753 | €43,008 | +€13,255 | +44.6% |
| Other operating charges | 640/8 | €917 | €459 | -€457 | -49.9% |
| Gross operating margin | 9900 | €112,074 | €45,460 | -€66,614 | -59.4% |
| Operating profit (loss) | 9901 | €81,404 | €1,992 | -€79,412 | -97.6% |
| Financial income | 75/76B | €5 | €5 | -€0 | -6.3% |
| Recurring financial income | 75 | €5 | €5 | -€0 | -6.3% |
| Financial charges | 65/66B | €19 | €12,262 | +€12,243 | +64,132% |
| Recurring financial charges | 65 | €19 | €12,262 | +€12,243 | +64,132% |
| Profit (loss) for the period before taxes | 9903 | €81,390 | -€10,264 | -€91,655 | |
| Income taxes | 67/77 | €21,678 | -€635 | -€22,313 | |
| Profit (loss) for the period | 9904 | €59,713 | -€9,629 | -€69,342 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,713 | -€9,629 | -€69,342 |
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.