HEYLEN PROJECTS: 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 PROJECTS
Largest movements
- Tangible fixed assets +€301,734
up €301,734 (+58.9%), from €512,489 to €814,223
- Debts after one year +€216,822
up €216,822 (+953%), from €22,752 to €239,575
- Other debts +€149,915
up €149,915 (+72.0%), from €208,330 to €358,245
- Trade debts -€61,408
down €61,408 (-94.4%), from €65,024 to €3,615
- Reserves -€14,046
down €14,046 (-7.8%), from €180,259 to €166,213
of which Distributable reserves: -€14,046
- Accrued charges and deferred income +€11,644
up €11,644 (+109%), from €10,677 to €22,322
- Financial charges +€27,261
up €27,261 (+321%), from €8,491 to €35,752
- Gross operating margin +€14,244
up €14,244 (+22.2%), from €64,094 to €78,338
- Depreciation +€7,647
up €7,647 (+20.1%), from €38,092 to €45,739
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 | €529,688 | €821,156 | +€291,468 | +55.0% |
| Fixed assets | 21/28 | €512,489 | €814,223 | +€301,734 | +58.9% |
| Tangible fixed assets | 22/27 | €512,489 | €814,223 | +€301,734 | +58.9% |
| Land and buildings | 22 | €512,489 | €814,223 | +€301,734 | +58.9% |
| Current assets | 29/58 | €17,199 | €6,933 | -€10,266 | -59.7% |
| Amounts receivable within one year | 40/41 | €12,658 | €6,933 | -€5,724 | -45.2% |
| Trade receivables | 40 | €12,000 | €4,804 | -€7,196 | -60.0% |
| Other amounts receivable | 41 | €658 | €2,130 | +€1,472 | +224% |
| Cash at bank and in hand | 54/58 | €4,541 | €0 | -€4,541 | -100% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €529,688 | €821,156 | +€291,468 | +55.0% |
| Equity | 10/15 | €186,726 | €172,680 | -€14,046 | -7.5% |
| Contributions | 10/11 | €6,467 | €6,467 | = | 0.0% |
| Reserves | 13 | €180,259 | €166,213 | -€14,046 | -7.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €178,399 | €164,353 | -€14,046 | -7.9% |
| Amounts payable | 17/49 | €342,962 | €648,476 | +€305,514 | +89.1% |
| Amounts payable after more than one year | 17 | €22,752 | €239,575 | +€216,822 | +953% |
| Financial debts | 170/4 | €22,752 | €239,575 | +€216,822 | +953% |
| Amounts payable within one year | 42/48 | €309,533 | €386,580 | +€77,048 | +24.9% |
| Current portion of amounts payable after more than one year | 42 | €27,984 | €17,567 | -€10,417 | -37.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €65,024 | €3,615 | -€61,408 | -94.4% |
| Suppliers | 440/4 | €65,024 | €3,615 | -€61,408 | -94.4% |
| Taxes, remuneration and social security | 45 | €8,195 | €7,153 | -€1,042 | -12.7% |
| Taxes | 450/3 | €6,645 | €7,153 | +€508 | +7.6% |
| Remuneration and social security | 454/9 | €1,550 | €0 | -€1,550 | -100% |
| Other amounts payable | 47/48 | €208,330 | €358,245 | +€149,915 | +72.0% |
| Accrued charges and deferred income | 492/3 | €10,677 | €22,322 | +€11,644 | +109% |
| Non-recurring operating income | 76A | - | €87 | +€87 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,092 | €45,739 | +€7,647 | +20.1% |
| Other operating charges | 640/8 | €10,570 | €10,892 | +€322 | +3.1% |
| Gross operating margin | 9900 | €64,094 | €78,338 | +€14,244 | +22.2% |
| Operating profit (loss) | 9901 | €15,432 | €21,707 | +€6,275 | +40.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €8,491 | €35,752 | +€27,261 | +321% |
| Recurring financial charges | 65 | €8,491 | €35,752 | +€27,261 | +321% |
| Profit (loss) for the period before taxes | 9903 | €6,940 | -€14,046 | -€20,986 | |
| Income taxes | 67/77 | €472 | €0 | -€472 | -100% |
| Profit (loss) for the period | 9904 | €6,468 | -€14,046 | -€20,514 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,468 | -€14,046 | -€20,514 |
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 16 October 2026 via checked.be.