HEYVAERTS: 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.
HEYVAERTS
Largest movements
- Receivables within one year -€46,538
down €46,538 (-22.2%), from €209,201 to €162,664
of which Trade receivables: -€51,310
- Tangible fixed assets -€9,956
down €9,956 (-94.8%), from €10,501 to €544
- Cash +€6,488
up €6,488 (+4.8%), from €135,101 to €141,589
mainly Receivables within one year (+€46,538) and Investment in fixed assets (net) (+€9,261)
- Debts after one year -€13,277
down €13,277 (-40.2%), from €32,990 to €19,713
- Tax, wage and social debts -€13,006
down €13,006 (-82.9%), from €15,695 to €2,689
of which Taxes: -€7,256
- Profit (loss) carried forward -€11,027
new in 2025: -€11,027
- Other debts -€10,417
down €10,417 (-68.3%), from €15,261 to €4,844
- Gross operating margin -€24,587
down €24,587, from €9,946 to -€14,641
- Taxes -€3,378
down €3,378 (-100.0%), from €3,378 to €0
- Financial income +€3,027
up €3,027 (+80.9%), from €3,741 to €6,768
- Depreciation -€1,830
down €1,830 (-72.5%), from €2,526 to €695
- Financial charges -€667
down €667 (-27.7%), from €2,406 to €1,739
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.
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 | €434,753 | €384,747 | -€50,006 | -11.5% |
| Fixed assets | 21/28 | €90,451 | €80,494 | -€9,956 | -11.0% |
| Tangible fixed assets | 22/27 | €10,501 | €544 | -€9,956 | -94.8% |
| Furniture and vehicles | 24 | €10,501 | €544 | -€9,956 | -94.8% |
| Financial fixed assets | 28 | €79,950 | €79,950 | = | 0.0% |
| Current assets | 29/58 | €344,303 | €304,253 | -€40,050 | -11.6% |
| Amounts receivable within one year | 40/41 | €209,201 | €162,664 | -€46,538 | -22.2% |
| Trade receivables | 40 | €51,310 | €0 | -€51,310 | -100.0% |
| Other amounts receivable | 41 | €157,891 | €162,664 | +€4,772 | +3.0% |
| Cash at bank and in hand | 54/58 | €135,101 | €141,589 | +€6,488 | +4.8% |
| Total equity and liabilities | 10/49 | €434,753 | €384,747 | -€50,006 | -11.5% |
| Equity | 10/15 | €354,224 | €343,197 | -€11,027 | -3.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €334,224 | €334,224 | = | 0.0% |
| Non-distributable reserves | 130/1 | €511 | €511 | = | 0.0% |
| Reserves not available under the articles | 1311 | €511 | €511 | = | 0.0% |
| Distributable reserves | 133 | €333,713 | €333,713 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€11,027 | -€11,027 | |
| Amounts payable | 17/49 | €80,529 | €41,550 | -€38,979 | -48.4% |
| Amounts payable after more than one year | 17 | €32,990 | €19,713 | -€13,277 | -40.2% |
| Financial debts | 170/4 | €32,990 | €19,713 | -€13,277 | -40.2% |
| Amounts payable within one year | 42/48 | €47,539 | €21,838 | -€25,702 | -54.1% |
| Current portion of amounts payable after more than one year | 42 | €12,773 | €13,277 | +€505 | +4.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,811 | €1,028 | -€2,783 | -73.0% |
| Suppliers | 440/4 | €3,811 | €1,028 | -€2,783 | -73.0% |
| Taxes, remuneration and social security | 45 | €15,695 | €2,689 | -€13,006 | -82.9% |
| Taxes | 450/3 | €9,945 | €2,689 | -€7,256 | -73.0% |
| Remuneration and social security | 454/9 | €5,750 | €0 | -€5,750 | -100.0% |
| Other amounts payable | 47/48 | €15,261 | €4,844 | -€10,417 | -68.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,526 | €695 | -€1,830 | -72.5% |
| Other operating charges | 640/8 | €895 | €720 | -€174 | -19.5% |
| Gross operating margin | 9900 | €9,946 | -€14,641 | -€24,587 | |
| Operating profit (loss) | 9901 | €6,525 | -€16,057 | -€22,582 | |
| Financial income | 75/76B | €3,741 | €6,768 | +€3,027 | +80.9% |
| Recurring financial income | 75 | €3,741 | €6,768 | +€3,027 | +80.9% |
| Financial charges | 65/66B | €2,406 | €1,739 | -€667 | -27.7% |
| Recurring financial charges | 65 | €2,406 | €1,739 | -€667 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €7,861 | -€11,027 | -€18,888 | |
| Income taxes | 67/77 | €3,378 | €0 | -€3,378 | -100.0% |
| Profit (loss) for the period | 9904 | €4,483 | -€11,027 | -€15,510 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,483 | -€11,027 | -€15,510 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.