HEYERICK MANAGEMENT: 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.
HEYERICK MANAGEMENT
Largest movements
- Tangible fixed assets +€60,854
up €60,854 (+13.6%), from €446,439 to €507,293
of which Assets under construction and advance payments: +€48,932
- Cash -€34,979
down €34,979 (-46.4%), from €75,351 to €40,372
mainly Investment in fixed assets (net) (-€80,708) and Contributions, distributions and other (-€21,634)
- Other debts +€42,051
up €42,051 (+485%), from €8,662 to €50,713
- Debts after one year -€20,900
down €20,900 (-7.4%), from €282,150 to €261,250
- Taxes -€6,893
down €6,893 (-33.4%), from €20,609 to €13,717
- Depreciation +€3,536
up €3,536 (+21.7%), from €16,318 to €19,854
- Gross operating margin -€2,639
down €2,639 (-4.3%), from €61,726 to €59,087
- Write-downs +€1,800
no longer reported in 2025 (was -€1,800)
- Financial charges -€619
down €619 (-9.4%), from €6,584 to €5,965
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 | €553,535 | €575,951 | +€22,417 | +4.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €448,794 | €509,648 | +€60,854 | +13.6% |
| Tangible fixed assets | 22/27 | €446,439 | €507,293 | +€60,854 | +13.6% |
| Land and buildings | 22 | €180,444 | €174,701 | -€5,743 | -3.2% |
| Plant, machinery and equipment | 23 | €8,708 | €30,263 | +€21,555 | +248% |
| Furniture and vehicles | 24 | €13,351 | €8,309 | -€5,042 | -37.8% |
| Other tangible fixed assets | 26 | €0 | €1,152 | +€1,152 | |
| Assets under construction and advance payments | 27 | €243,936 | €292,868 | +€48,932 | +20.1% |
| Financial fixed assets | 28 | €2,355 | €2,355 | = | 0.0% |
| Current assets | 29/58 | €104,741 | €66,304 | -€38,437 | -36.7% |
| Amounts receivable within one year | 40/41 | €24,805 | €21,579 | -€3,226 | -13.0% |
| Trade receivables | 40 | €15,202 | €15,202 | = | 0.0% |
| Other amounts receivable | 41 | €9,603 | €6,377 | -€3,226 | -33.6% |
| Cash at bank and in hand | 54/58 | €75,351 | €40,372 | -€34,979 | -46.4% |
| Deferred charges and accrued income | 490/1 | €4,584 | €4,353 | -€232 | -5.1% |
| Total equity and liabilities | 10/49 | €553,535 | €575,951 | +€22,417 | +4.0% |
| Equity | 10/15 | €225,580 | €222,284 | -€3,297 | -1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €206,980 | €203,684 | -€3,297 | -1.6% |
| Tax-exempt reserves | 132 | €9,000 | €9,000 | = | 0.0% |
| Distributable reserves | 133 | €197,980 | €194,684 | -€3,297 | -1.7% |
| Amounts payable | 17/49 | €327,954 | €353,668 | +€25,714 | +7.8% |
| Amounts payable after more than one year | 17 | €282,150 | €261,250 | -€20,900 | -7.4% |
| Financial debts | 170/4 | €282,150 | €261,250 | -€20,900 | -7.4% |
| Amounts payable within one year | 42/48 | €45,804 | €92,418 | +€46,614 | +102% |
| Current portion of amounts payable after more than one year | 42 | €20,900 | €20,900 | = | 0.0% |
| Trade debts | 44 | €6,095 | €11,588 | +€5,492 | +90.1% |
| Suppliers | 440/4 | €6,095 | €11,588 | +€5,492 | +90.1% |
| Taxes, remuneration and social security | 45 | €10,147 | €9,217 | -€930 | -9.2% |
| Taxes | 450/3 | €10,147 | €9,217 | -€930 | -9.2% |
| Other amounts payable | 47/48 | €8,662 | €50,713 | +€42,051 | +485% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,318 | €19,854 | +€3,536 | +21.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,800 | - | +€1,800 | |
| Other operating charges | 640/8 | €1,277 | €1,269 | -€9 | -0.7% |
| Gross operating margin | 9900 | €61,726 | €59,087 | -€2,639 | -4.3% |
| Operating profit (loss) | 9901 | €45,931 | €37,964 | -€7,966 | -17.3% |
| Financial income | 75/76B | €13 | €55 | +€42 | +313% |
| Recurring financial income | 75 | €13 | €55 | +€42 | +313% |
| Financial charges | 65/66B | €6,584 | €5,965 | -€619 | -9.4% |
| Recurring financial charges | 65 | €6,584 | €5,965 | -€619 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €39,360 | €32,054 | -€7,306 | -18.6% |
| Income taxes | 67/77 | €20,609 | €13,717 | -€6,893 | -33.4% |
| Profit (loss) for the period | 9904 | €18,751 | €18,337 | -€413 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,751 | €18,337 | -€413 | -2.2% |
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 13 October 2026 via checked.be.