HEYLIGEN: 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.
HEYLIGEN
Largest movements
- Stocks and contracts -€186,834
down €186,834 (-63.7%), from €293,352 to €106,518
- Tangible fixed assets -€58,972
down €58,972 (-24.6%), from €239,910 to €180,938
of which Land and buildings: -€60,782
- Cash +€24,912
up €24,912 (+81.1%), from €30,733 to €55,645
mainly Net result for the year (+€369,682) and Stocks and contracts (+€186,834)
- Receivables within one year +€6,777
new in 2025: €6,777
of which Other amounts receivable: +€5,416
- Profit (loss) carried forward +€480,851
up €480,851, from -€220,223 to €260,628
- Debts after one year -€187,806
no longer reported in 2025 (was €187,806)
- Other debts -€172,471
down €172,471 (-98.4%), from €175,360 to €2,889
- Short-term financial debts -€120,000
no longer reported in 2025 (was €120,000)
of which Credit institutions: -€100,000
- Reserves -€111,169
down €111,169 (-74.2%), from €149,807 to €38,638
of which Distributable reserves: -€111,169
- Gross operating margin +€606,571
up €606,571 (+1008.4%), from €60,151 to €666,722
- Write-downs +€172,522
new in 2025: €172,522
- Taxes +€27,679
up €27,679 (+6416.1%), from €431 to €28,110
- Staff costs +€11,217
up €11,217 (+22.1%), from €50,696 to €61,913
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €564,695 | €350,578 | -€214,118 | -37.9% |
| Fixed assets | 21/28 | €240,610 | €181,638 | -€58,972 | -24.5% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €239,910 | €180,938 | -€58,972 | -24.6% |
| Land and buildings | 22 | €232,799 | €172,017 | -€60,782 | -26.1% |
| Plant, machinery and equipment | 23 | €6,938 | €3,657 | -€3,281 | -47.3% |
| Furniture and vehicles | 24 | €173 | €5,264 | +€5,091 | +2937.3% |
| Financial fixed assets | 28 | €700 | €700 | = | 0.0% |
| Current assets | 29/58 | €324,085 | €168,940 | -€155,145 | -47.9% |
| Stocks and contracts in progress | 3 | €293,352 | €106,518 | -€186,834 | -63.7% |
| Stocks | 30/36 | €293,352 | €106,518 | -€186,834 | -63.7% |
| Amounts receivable within one year | 40/41 | - | €6,777 | +€6,777 | |
| Trade receivables | 40 | - | €1,361 | +€1,361 | |
| Other amounts receivable | 41 | - | €5,416 | +€5,416 | |
| Cash at bank and in hand | 54/58 | €30,733 | €55,645 | +€24,912 | +81.1% |
| Total equity and liabilities | 10/49 | €564,695 | €350,578 | -€214,118 | -37.9% |
| Equity | 10/15 | -€20,415 | €309,266 | +€329,682 | |
| Contributions | 10/11 | €50,000 | €10,000 | -€40,000 | -80.0% |
| Reserves | 13 | €149,807 | €38,638 | -€111,169 | -74.2% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,638 | €33,638 | = | 0.0% |
| Distributable reserves | 133 | €111,169 | - | -€111,169 | |
| Profit (loss) carried forward | 14 | -€220,223 | €260,628 | +€480,851 | |
| Amounts payable | 17/49 | €585,111 | €41,311 | -€543,799 | -92.9% |
| Amounts payable after more than one year | 17 | €187,806 | - | -€187,806 | |
| Financial debts | 170/4 | €187,806 | - | -€187,806 | |
| Amounts payable within one year | 42/48 | €397,305 | €41,311 | -€355,994 | -89.6% |
| Current portion of amounts payable after more than one year | 42 | €31,410 | €2,426 | -€28,984 | -92.3% |
| Financial debts | 43 | €120,000 | - | -€120,000 | |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Other loans | 439 | €20,000 | - | -€20,000 | |
| Trade debts | 44 | €52,548 | €13,404 | -€39,144 | -74.5% |
| Suppliers | 440/4 | €52,548 | €13,404 | -€39,144 | -74.5% |
| Taxes, remuneration and social security | 45 | €17,987 | €22,592 | +€4,606 | +25.6% |
| Taxes | 450/3 | €4,509 | €470 | -€4,039 | -89.6% |
| Remuneration and social security | 454/9 | €13,478 | €22,122 | +€8,645 | +64.1% |
| Other amounts payable | 47/48 | €175,360 | €2,889 | -€172,471 | -98.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | -€0 | |
| Remuneration, social security and pensions | 62 | €50,696 | €61,913 | +€11,217 | +22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,425 | €16,083 | -€1,342 | -7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €172,522 | +€172,522 | |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €60,151 | €666,722 | +€606,571 | +1008.4% |
| Operating profit (loss) | 9901 | -€8,032 | €416,141 | +€424,173 | |
| Financial income | 75/76B | €2,537 | €3,318 | +€782 | +30.8% |
| Recurring financial income | 75 | €2,537 | €3,318 | +€782 | +30.8% |
| Financial charges | 65/66B | €18,086 | €21,667 | +€3,581 | +19.8% |
| Recurring financial charges | 65 | €18,086 | €21,667 | +€3,581 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | -€23,582 | €397,792 | +€421,374 | |
| Income taxes | 67/77 | €431 | €28,110 | +€27,679 | +6416.1% |
| Profit (loss) for the period | 9904 | -€24,014 | €369,682 | +€393,695 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,014 | €369,682 | +€393,695 |
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 6 October 2026 via checked.be.