HEYVAERT: 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.
HEYVAERT
Largest movements
- Tangible fixed assets -€13,488
down €13,488 (-6.5%), from €208,495 to €195,007
of which Land and buildings: -€11,090
- Receivables within one year -€5,371
down €5,371 (-50.7%), from €10,594 to €5,224
of which Trade receivables: -€5,359
- Intangible fixed assets -€4,950
down €4,950 (-17.4%), from €28,444 to €23,494
- Stocks and contracts +€3,863
up €3,863 (+38.8%), from €9,945 to €13,808
- Other debts -€20,425
down €20,425 (-18.0%), from €113,157 to €92,732
- Tax, wage and social debts -€10,375
down €10,375 (-58.7%), from €17,686 to €7,311
- Trade debts +€3,977
up €3,977 (+99.2%), from €4,010 to €7,987
- Debts after one year +€3,287
up €3,287 (+3.9%), from €84,672 to €87,959
- Taxes +€1,274
up €1,274 (+57.2%), from €2,226 to €3,500
- Gross operating margin +€1,069
up €1,069 (+3.0%), from €36,142 to €37,212
- Other operating charges -€971
down €971 (-16.6%), from €5,852 to €4,881
- Depreciation +€948
up €948 (+5.1%), from €18,583 to €19,530
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 | €292,690 | €270,763 | -€21,927 | -7.5% |
| Fixed assets | 21/28 | €237,189 | €218,751 | -€18,438 | -7.8% |
| Intangible fixed assets | 21 | €28,444 | €23,494 | -€4,950 | -17.4% |
| Tangible fixed assets | 22/27 | €208,495 | €195,007 | -€13,488 | -6.5% |
| Land and buildings | 22 | €202,363 | €191,273 | -€11,090 | -5.5% |
| Plant, machinery and equipment | 23 | €2,193 | €1,004 | -€1,188 | -54.2% |
| Furniture and vehicles | 24 | €3,939 | €2,730 | -€1,210 | -30.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €55,501 | €52,012 | -€3,489 | -6.3% |
| Stocks and contracts in progress | 3 | €9,945 | €13,808 | +€3,863 | +38.8% |
| Stocks | 30/36 | €9,945 | €13,808 | +€3,863 | +38.8% |
| Amounts receivable within one year | 40/41 | €10,594 | €5,224 | -€5,371 | -50.7% |
| Trade receivables | 40 | €5,629 | €270 | -€5,359 | -95.2% |
| Other amounts receivable | 41 | €4,965 | €4,954 | -€12 | -0.2% |
| Cash at bank and in hand | 54/58 | €34,355 | €32,642 | -€1,713 | -5.0% |
| Deferred charges and accrued income | 490/1 | €607 | €338 | -€268 | -44.2% |
| Total equity and liabilities | 10/49 | €292,690 | €270,763 | -€21,927 | -7.5% |
| Equity | 10/15 | €67,233 | €67,068 | -€165 | -0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,033 | €60,868 | -€165 | -0.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €61,033 | €60,868 | -€165 | -0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €225,457 | €203,694 | -€21,762 | -9.7% |
| Amounts payable after more than one year | 17 | €84,672 | €87,959 | +€3,287 | +3.9% |
| Financial debts | 170/4 | €84,672 | €87,959 | +€3,287 | +3.9% |
| Amounts payable within one year | 42/48 | €140,785 | €115,736 | -€25,049 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €5,932 | €7,705 | +€1,773 | +29.9% |
| Trade debts | 44 | €4,010 | €7,987 | +€3,977 | +99.2% |
| Suppliers | 440/4 | €4,010 | €7,987 | +€3,977 | +99.2% |
| Taxes, remuneration and social security | 45 | €17,686 | €7,311 | -€10,375 | -58.7% |
| Taxes | 450/3 | €17,686 | €7,311 | -€10,375 | -58.7% |
| Other amounts payable | 47/48 | €113,157 | €92,732 | -€20,425 | -18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,583 | €19,530 | +€948 | +5.1% |
| Other operating charges | 640/8 | €5,852 | €4,881 | -€971 | -16.6% |
| Gross operating margin | 9900 | €36,142 | €37,212 | +€1,069 | +3.0% |
| Operating profit (loss) | 9901 | €11,708 | €12,800 | +€1,092 | +9.3% |
| Financial income | 75/76B | €347 | €102 | -€245 | -70.6% |
| Recurring financial income | 75 | €347 | €102 | -€245 | -70.6% |
| Financial charges | 65/66B | €8,451 | €8,708 | +€258 | +3.0% |
| Recurring financial charges | 65 | €8,451 | €8,708 | +€258 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €3,605 | €4,194 | +€589 | +16.4% |
| Income taxes | 67/77 | €2,226 | €3,500 | +€1,274 | +57.2% |
| Profit (loss) for the period | 9904 | €1,379 | €695 | -€684 | -49.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,379 | €695 | -€684 | -49.6% |
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 12 October 2026 via checked.be.