HEYHAUT: 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.
What changed
HEYHAUT
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€99,656
2024 · €133,580-€33,924
Equity
€2.8m
2024 · €2.7m+€99,656
Cash
€79,442
2024 · €72,395+€7,047
Balance sheet total
€3.2m
2024 · €3.2m+€9,656
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Debts after one year -€114,203
down €114,203 (-37.1%), from €307,994 to €193,791
- Reserves +€99,656
up €99,656 (+6.9%), from €1.4m to €1.5m
of which Distributable reserves: +€94,673
Income statement
- Gross operating margin -€42,302
down €42,302 (-14.9%), from €283,551 to €241,249
- Taxes -€15,679
down €15,679 (-25.2%), from €62,337 to €46,658
- Depreciation +€7,643
up €7,643 (+11.5%), from €66,227 to €73,870
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.
Result 2024
€133,580
Gross operating margin
-€42,302
Depreciation
-€7,643
Other operating charges
-€1,207
Financial charges
+€1,550
Taxes
+€15,679
Result 2025
€99,656
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.
From operations
+€198,722
Investment
-€79,001
Financing
-€112,674
Cash 2024
€72,395
From operations (derived)
+€198,722
Net result for the year
+€99,656
Depreciation
+€73,870
Receivables within one year
+€2,588
Deferred charges and accrued income
-€65
Provisions
-€1,623
Trade debts
+€14,139
Tax, wage and social debts
+€10,158
Investment (derived)
-€79,001
Investment in fixed assets (net)
-€79,001
Financing
-€112,674
Debts after one year
-€114,203
Current portion of long-term debt
+€1,529
Cash 2025
€79,442
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,183,040 | €3,192,696 | +€9,656 | +0.3% |
| Fixed assets | 21/28 | €3,106,179 | €3,111,310 | +€5,131 | +0.2% |
| Tangible fixed assets | 22/27 | €3,106,179 | €3,111,310 | +€5,131 | +0.2% |
| Land and buildings | 22 | €3,106,179 | €3,108,559 | +€2,380 | +0.1% |
| Plant, machinery and equipment | 23 | - | €2,751 | +€2,751 | |
| Current assets | 29/58 | €76,861 | €81,386 | +€4,525 | +5.9% |
| Amounts receivable within one year | 40/41 | €3,088 | €500 | -€2,588 | -83.8% |
| Trade receivables | 40 | €3,088 | €0 | -€3,088 | -100.0% |
| Other amounts receivable | 41 | €0 | €500 | +€500 | |
| Cash at bank and in hand | 54/58 | €72,395 | €79,442 | +€7,047 | +9.7% |
| Deferred charges and accrued income | 490/1 | €1,379 | €1,444 | +€65 | +4.7% |
| Total equity and liabilities | 10/49 | €3,183,040 | €3,192,696 | +€9,656 | +0.3% |
| Equity | 10/15 | €2,742,090 | €2,841,746 | +€99,656 | +3.6% |
| Contributions | 10/11 | €1,296,480 | €1,296,480 | = | 0.0% |
| Capital | 10 | €1,296,480 | €1,296,480 | = | 0.0% |
| Issued capital | 100 | €1,296,480 | €1,296,480 | = | 0.0% |
| Reserves | 13 | €1,445,610 | €1,545,266 | +€99,656 | +6.9% |
| Non-distributable reserves | 130/1 | €84,995 | €89,978 | +€4,983 | +5.9% |
| Legal reserve | 130 | €84,995 | €89,978 | +€4,983 | +5.9% |
| Distributable reserves | 133 | €1,360,615 | €1,455,288 | +€94,673 | +7.0% |
| Provisions and deferred taxes | 16 | €4,870 | €3,247 | -€1,623 | -33.3% |
| Provisions for liabilities and charges | 160/5 | €4,870 | €3,247 | -€1,623 | -33.3% |
| Taxes | 161 | €4,870 | €3,247 | -€1,623 | -33.3% |
| Amounts payable | 17/49 | €436,079 | €347,702 | -€88,377 | -20.3% |
| Amounts payable after more than one year | 17 | €307,994 | €193,791 | -€114,203 | -37.1% |
| Financial debts | 170/4 | €307,994 | €193,791 | -€114,203 | -37.1% |
| Amounts payable within one year | 42/48 | €126,466 | €152,292 | +€25,826 | +20.4% |
| Current portion of amounts payable after more than one year | 42 | €112,674 | €114,203 | +€1,529 | +1.4% |
| Trade debts | 44 | €1,454 | €15,594 | +€14,139 | +972.2% |
| Suppliers | 440/4 | €1,454 | €15,594 | +€14,139 | +972.2% |
| Taxes, remuneration and social security | 45 | €12,337 | €22,495 | +€10,158 | +82.3% |
| Taxes | 450/3 | €12,337 | €22,495 | +€10,158 | +82.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,620 | €1,620 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,227 | €73,870 | +€7,643 | +11.5% |
| Other operating charges | 640/8 | €16,457 | €17,665 | +€1,207 | +7.3% |
| Gross operating margin | 9900 | €283,551 | €241,249 | -€42,302 | -14.9% |
| Operating profit (loss) | 9901 | €200,866 | €149,714 | -€51,152 | -25.5% |
| Financial charges | 65/66B | €6,573 | €5,023 | -€1,550 | -23.6% |
| Recurring financial charges | 65 | €6,573 | €5,023 | -€1,550 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €194,293 | €144,691 | -€49,603 | -25.5% |
| Transfer from deferred taxes | 780 | €1,623 | €1,623 | = | 0.0% |
| Income taxes | 67/77 | €62,337 | €46,658 | -€15,679 | -25.2% |
| Profit (loss) for the period | 9904 | €133,580 | €99,656 | -€33,924 | -25.4% |
| Transfer from tax-exempt reserves | 789 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €133,580 | €99,656 | -€33,924 | -25.4% |
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 2 October 2026 via checked.be.