Heylen M: 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.
Heylen M
Largest movements
- Tangible fixed assets -€18,639
down €18,639 (-16.3%), from €114,449 to €95,810
of which Other tangible fixed assets: -€10,781
- Cash -€6,476
down €6,476 (-17.6%), from €36,862 to €30,386
mainly Other debts (-€27,384) and Debts after one year (-€16,054)
- Deferred charges and accrued income +€5,118
up €5,118 (+3,637%), from €141 to €5,258
- Receivables within one year -€4,953
down €4,953 (-43.1%), from €11,483 to €6,530
of which Other amounts receivable: -€2,505
- Other debts -€27,384
down €27,384 (-69.8%), from €39,250 to €11,866
- Profit (loss) carried forward +€22,043
up €22,043 (+92.9%), from €23,722 to €45,765
- Debts after one year -€16,054
down €16,054 (-26.9%), from €59,619 to €43,565
- Trade debts -€3,621
down €3,621 (-12.9%), from €27,964 to €24,343
- Gross operating margin +€19,381
up €19,381 (+44.5%), from €43,515 to €62,896
- Taxes +€5,931
up €5,931 (+1,567%), from €379 to €6,309
- Depreciation +€1,191
up €1,191 (+6.8%), from €17,449 to €18,639
- Staff costs +€937
up €937 (+95.4%), from €981 to €1,918
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 | €171,924 | €147,126 | -€24,798 | -14.4% |
| Fixed assets | 21/28 | €119,886 | €101,247 | -€18,639 | -15.5% |
| Tangible fixed assets | 22/27 | €114,449 | €95,810 | -€18,639 | -16.3% |
| Plant, machinery and equipment | 23 | €13,279 | €10,148 | -€3,132 | -23.6% |
| Furniture and vehicles | 24 | €8,286 | €4,501 | -€3,785 | -45.7% |
| Leasing and similar rights | 25 | €3,045 | €2,103 | -€942 | -30.9% |
| Other tangible fixed assets | 26 | €89,839 | €79,058 | -€10,781 | -12.0% |
| Financial fixed assets | 28 | €5,438 | €5,438 | = | 0.0% |
| Current assets | 29/58 | €52,038 | €45,879 | -€6,159 | -11.8% |
| Stocks and contracts in progress | 3 | €3,552 | €3,704 | +€152 | +4.3% |
| Stocks | 30/36 | €3,552 | €3,704 | +€152 | +4.3% |
| Amounts receivable within one year | 40/41 | €11,483 | €6,530 | -€4,953 | -43.1% |
| Trade receivables | 40 | €5,066 | €2,617 | -€2,448 | -48.3% |
| Other amounts receivable | 41 | €6,417 | €3,912 | -€2,505 | -39.0% |
| Cash at bank and in hand | 54/58 | €36,862 | €30,386 | -€6,476 | -17.6% |
| Deferred charges and accrued income | 490/1 | €141 | €5,258 | +€5,118 | +3,637% |
| Total equity and liabilities | 10/49 | €171,924 | €147,126 | -€24,798 | -14.4% |
| Equity | 10/15 | €26,722 | €48,765 | +€22,043 | +82.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,722 | €45,765 | +€22,043 | +92.9% |
| Amounts payable | 17/49 | €145,202 | €98,361 | -€46,841 | -32.3% |
| Amounts payable after more than one year | 17 | €59,619 | €43,565 | -€16,054 | -26.9% |
| Financial debts | 170/4 | €59,619 | €43,565 | -€16,054 | -26.9% |
| Amounts payable within one year | 42/48 | €84,792 | €53,251 | -€31,541 | -37.2% |
| Current portion of amounts payable after more than one year | 42 | €16,762 | €16,054 | -€707 | -4.2% |
| Trade debts | 44 | €27,964 | €24,343 | -€3,621 | -12.9% |
| Suppliers | 440/4 | €27,964 | €24,343 | -€3,621 | -12.9% |
| Advances received on contracts in progress | 46 | €462 | €916 | +€454 | +98.3% |
| Taxes, remuneration and social security | 45 | €354 | €71 | -€283 | -80.0% |
| Taxes | 450/3 | €240 | €9 | -€231 | -96.1% |
| Remuneration and social security | 454/9 | €114 | €61 | -€53 | -46.2% |
| Other amounts payable | 47/48 | €39,250 | €11,866 | -€27,384 | -69.8% |
| Accrued charges and deferred income | 492/3 | €791 | €1,545 | +€755 | +95.4% |
| Remuneration, social security and pensions | 62 | €981 | €1,918 | +€937 | +95.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,449 | €18,639 | +€1,191 | +6.8% |
| Other operating charges | 640/8 | €1,487 | €1,338 | -€148 | -10.0% |
| Gross operating margin | 9900 | €43,515 | €62,896 | +€19,381 | +44.5% |
| Operating profit (loss) | 9901 | €23,598 | €41,001 | +€17,402 | +73.7% |
| Financial income | 75/76B | €600 | €4 | -€595 | -99.3% |
| Recurring financial income | 75 | €600 | €4 | -€595 | -99.3% |
| Financial charges | 65/66B | €6,123 | €6,320 | +€197 | +3.2% |
| Recurring financial charges | 65 | €6,123 | €6,320 | +€197 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €18,076 | €34,685 | +€16,610 | +91.9% |
| Income taxes | 67/77 | €379 | €6,309 | +€5,931 | +1,567% |
| Profit (loss) for the period | 9904 | €17,697 | €28,376 | +€10,679 | +60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,697 | €28,376 | +€10,679 | +60.3% |
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 31 October 2026 via checked.be.