HEYERICK WARD: 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 WARD
Largest movements
- Receivables within one year +€59,911
up €59,911 (+73.0%), from €82,111 to €142,022
of which Trade receivables: +€68,751
- Tangible fixed assets -€23,258
down €23,258 (-28.5%), from €81,707 to €58,449
- Cash -€17,930
down €17,930 (-25.3%), from €70,940 to €53,010
mainly Net result for the year (-€74,455) and Receivables within one year (-€59,911)
- Profit (loss) carried forward -€74,455
down €74,455, from €8,143 to -€66,312
- Short-term financial debts +€50,000
up €50,000 (+100%), from €50,000 to €100,000
- Trade debts +€43,175
up €43,175 (+20.4%), from €211,632 to €254,807
- Debts after one year -€13,920
down €13,920 (-29.5%), from €47,239 to €33,320
- Staff costs +€45,017
up €45,017 (+26.2%), from €171,528 to €216,546
- Gross operating margin +€33,102
up €33,102 (+23.2%), from €142,807 to €175,908
- Financial income -€5,629
down €5,629 (-81.3%), from €6,921 to €1,292
- Depreciation +€2,673
up €2,673 (+13.0%), from €20,585 to €23,258
- Write-downs +€1,984
up €1,984 (+93.3%), from €2,125 to €4,109
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 | €402,334 | €414,583 | +€12,250 | +3.0% |
| Fixed assets | 21/28 | €81,707 | €58,449 | -€23,258 | -28.5% |
| Tangible fixed assets | 22/27 | €81,707 | €58,449 | -€23,258 | -28.5% |
| Plant, machinery and equipment | 23 | €27,155 | €21,188 | -€5,967 | -22.0% |
| Furniture and vehicles | 24 | €35,951 | €25,615 | -€10,337 | -28.8% |
| Other tangible fixed assets | 26 | €18,600 | €11,647 | -€6,954 | -37.4% |
| Current assets | 29/58 | €320,627 | €356,135 | +€35,507 | +11.1% |
| Stocks and contracts in progress | 3 | €164,086 | €161,102 | -€2,984 | -1.8% |
| Stocks | 30/36 | €164,086 | €161,102 | -€2,984 | -1.8% |
| Amounts receivable within one year | 40/41 | €82,111 | €142,022 | +€59,911 | +73.0% |
| Trade receivables | 40 | €62,448 | €131,199 | +€68,751 | +110% |
| Other amounts receivable | 41 | €19,663 | €10,823 | -€8,840 | -45.0% |
| Cash at bank and in hand | 54/58 | €70,940 | €53,010 | -€17,930 | -25.3% |
| Deferred charges and accrued income | 490/1 | €3,490 | €0 | -€3,490 | -100% |
| Total equity and liabilities | 10/49 | €402,334 | €414,583 | +€12,250 | +3.0% |
| Equity | 10/15 | €15,030 | -€59,425 | -€74,455 | |
| Contributions | 10/11 | €4,007 | €4,007 | = | 0.0% |
| Reserves | 13 | €2,881 | €2,881 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,802 | €2,802 | = | 0.0% |
| Distributable reserves | 133 | €79 | €79 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,143 | -€66,312 | -€74,455 | |
| Amounts payable | 17/49 | €387,304 | €474,008 | +€86,704 | +22.4% |
| Amounts payable after more than one year | 17 | €47,239 | €33,320 | -€13,920 | -29.5% |
| Financial debts | 170/4 | €47,239 | €33,320 | -€13,920 | -29.5% |
| Amounts payable within one year | 42/48 | €340,065 | €440,689 | +€100,624 | +29.6% |
| Current portion of amounts payable after more than one year | 42 | €13,300 | €13,920 | +€620 | +4.7% |
| Financial debts | 43 | €50,000 | €100,000 | +€50,000 | +100% |
| Credit institutions | 430/8 | €50,000 | €100,000 | +€50,000 | +100% |
| Trade debts | 44 | €211,632 | €254,807 | +€43,175 | +20.4% |
| Suppliers | 440/4 | €211,632 | €254,807 | +€43,175 | +20.4% |
| Taxes, remuneration and social security | 45 | €65,045 | €68,014 | +€2,969 | +4.6% |
| Taxes | 450/3 | €18,817 | €16,911 | -€1,906 | -10.1% |
| Remuneration and social security | 454/9 | €46,228 | €51,104 | +€4,875 | +10.5% |
| Other amounts payable | 47/48 | €89 | €3,948 | +€3,859 | +4,361% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €171,528 | €216,546 | +€45,017 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,585 | €23,258 | +€2,673 | +13.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,125 | €4,109 | +€1,984 | +93.3% |
| Other operating charges | 640/8 | €714 | €330 | -€384 | -53.8% |
| Gross operating margin | 9900 | €142,807 | €175,908 | +€33,102 | +23.2% |
| Operating profit (loss) | 9901 | -€52,146 | -€68,334 | -€16,188 | -31.0% |
| Financial income | 75/76B | €6,921 | €1,292 | -€5,629 | -81.3% |
| Recurring financial income | 75 | €6,921 | €1,292 | -€5,629 | -81.3% |
| Financial charges | 65/66B | €6,320 | €7,065 | +€745 | +11.8% |
| Recurring financial charges | 65 | €6,320 | €7,065 | +€745 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | -€51,545 | -€74,107 | -€22,562 | -43.8% |
| Income taxes | 67/77 | €462 | €348 | -€114 | -24.7% |
| Profit (loss) for the period | 9904 | -€52,007 | -€74,455 | -€22,447 | -43.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€52,007 | -€74,455 | -€22,447 | -43.2% |
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 20 October 2026 via checked.be.