HEYHOVEN: 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.
What changed
HEYHOVEN
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2,272
2024 · €117,489-€115,217
Equity
€681,829
2024 · €679,557+€2,272
Cash
€34,814
2024 · €33,684+€1,129
Balance sheet total
€1.4m
2024 · €1.5m-€100,873
Largest movements
Assets
- Tangible fixed assets -€102,351
down €102,351 (-7.3%), from €1.4m to €1.3m
Equity and liabilities
- Debts after one year -€66,522
down €66,522 (-10.9%), from €608,683 to €542,161
- Advances received -€23,430
down €23,430 (-100%), from €23,430 to €0
- Current portion of long-term debt -€14,957
down €14,957 (-16.1%), from €93,029 to €78,072
Income statement
- Gross operating margin -€673,576
down €673,576 (-83.5%), from €806,235 to €132,659
- Other operating charges -€483,199
down €483,199 (-97.3%), from €496,385 to €13,186
- Financial charges -€18,552
down €18,552 (-56.9%), from €32,576 to €14,024
- Depreciation -€8,758
down €8,758 (-7.9%), from €111,108 to €102,351
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
€117,489
Gross operating margin
-€673,576
Staff costs
+€236
Depreciation
+€8,758
Other operating charges
+€483,199
Financial income
-€50
Financial charges
+€18,552
Taxes
+€5,964
Deferred taxes and other
+€41,700
Result 2025
€2,272
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€82,608
Investment
€0
Financing
-€81,479
Cash 2024
€33,684
From operations (derived)
+€82,608
Net result for the year
+€2,272
Depreciation
+€102,351
Receivables within one year
-€348
Trade debts
+€216
Tax, wage and social debts
-€1,453
Advances received
-€23,430
Accrued charges and deferred income
+€3,000
Financing
-€81,479
Debts after one year
-€66,522
Current portion of long-term debt
-€14,957
Cash 2025
€34,814
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,456,908 | €1,356,035 | -€100,873 | -6.9% |
| Fixed assets | 21/28 | €1,404,272 | €1,301,922 | -€102,351 | -7.3% |
| Tangible fixed assets | 22/27 | €1,404,272 | €1,301,922 | -€102,351 | -7.3% |
| Land and buildings | 22 | €1,404,272 | €1,301,922 | -€102,351 | -7.3% |
| Current assets | 29/58 | €52,636 | €54,113 | +€1,477 | +2.8% |
| Amounts receivable within one year | 40/41 | €18,951 | €19,299 | +€348 | +1.8% |
| Trade receivables | 40 | €1,168 | €0 | -€1,168 | -100% |
| Other amounts receivable | 41 | €17,783 | €19,299 | +€1,516 | +8.5% |
| Cash at bank and in hand | 54/58 | €33,684 | €34,814 | +€1,129 | +3.4% |
| Total equity and liabilities | 10/49 | €1,456,908 | €1,356,035 | -€100,873 | -6.9% |
| Equity | 10/15 | €679,557 | €681,829 | +€2,272 | +0.3% |
| Contributions | 10/11 | €10,954 | €10,954 | = | 0.0% |
| Revaluation surpluses | 12 | €355,330 | €355,330 | = | 0.0% |
| Reserves | 13 | €313,273 | €315,545 | +€2,272 | +0.7% |
| Non-distributable reserves | 130/1 | €1,643 | €1,643 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,643 | €1,643 | = | 0.0% |
| Tax-exempt reserves | 132 | €125,100 | €125,100 | = | 0.0% |
| Distributable reserves | 133 | €186,530 | €188,802 | +€2,272 | +1.2% |
| Provisions and deferred taxes | 16 | €41,700 | €41,700 | = | 0.0% |
| Deferred taxes | 168 | €41,700 | €41,700 | = | 0.0% |
| Amounts payable | 17/49 | €735,651 | €632,505 | -€103,145 | -14.0% |
| Amounts payable after more than one year | 17 | €608,683 | €542,161 | -€66,522 | -10.9% |
| Financial debts | 170/4 | €608,683 | €542,161 | -€66,522 | -10.9% |
| Amounts payable within one year | 42/48 | €126,968 | €87,344 | -€39,623 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €93,029 | €78,072 | -€14,957 | -16.1% |
| Trade debts | 44 | €1,079 | €1,295 | +€216 | +20.0% |
| Suppliers | 440/4 | €1,079 | €1,295 | +€216 | +20.0% |
| Advances received on contracts in progress | 46 | €23,430 | €0 | -€23,430 | -100% |
| Taxes, remuneration and social security | 45 | €9,071 | €7,618 | -€1,453 | -16.0% |
| Taxes | 450/3 | €9,071 | €7,618 | -€1,453 | -16.0% |
| Other amounts payable | 47/48 | €359 | €359 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €3,000 | +€3,000 | |
| Remuneration, social security and pensions | 62 | €236 | €0 | -€236 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,108 | €102,351 | -€8,758 | -7.9% |
| Other operating charges | 640/8 | €496,385 | €13,186 | -€483,199 | -97.3% |
| Gross operating margin | 9900 | €806,235 | €132,659 | -€673,576 | -83.5% |
| Operating profit (loss) | 9901 | €198,506 | €17,123 | -€181,383 | -91.4% |
| Financial income | 75/76B | €50 | €0 | -€50 | -99.7% |
| Recurring financial income | 75 | €50 | €0 | -€50 | -99.7% |
| Financial charges | 65/66B | €32,576 | €14,024 | -€18,552 | -56.9% |
| Recurring financial charges | 65 | €32,576 | €14,024 | -€18,552 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €165,980 | €3,099 | -€162,881 | -98.1% |
| Transfer to deferred taxes | 680 | €41,700 | €0 | -€41,700 | -100% |
| Income taxes | 67/77 | €6,791 | €827 | -€5,964 | -87.8% |
| Profit (loss) for the period | 9904 | €117,489 | €2,272 | -€115,217 | -98.1% |
| Transfer to tax-exempt reserves | 689 | €125,100 | €0 | -€125,100 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,611 | €2,272 | +€9,883 |
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 27 October 2026 via checked.be.