HIEL-VAN GORP: 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.
HIEL-VAN GORP
Largest movements
- Tangible fixed assets -€242,462
down €242,462 (-66.0%), from €367,154 to €124,692
of which Land and buildings: -€217,657
- Receivables within one year +€136,078
up €136,078 (+101%), from €134,393 to €270,472
of which Other amounts receivable: +€139,708
- Other debts -€451,597
down €451,597 (-64.2%), from €703,717 to €252,120
- Reserves +€384,812
up €384,812 (+66.8%), from €575,926 to €960,738
- Debts after one year -€94,164
down €94,164 (-11.2%), from €837,768 to €743,604
of which Financial debts: -€94,164
- Current portion of long-term debt +€35,464
up €35,464 (+39.0%), from €90,999 to €126,463
- Tax, wage and social debts +€25,763
up €25,763 (+187%), from €13,807 to €39,570
- Financial income +€549,416
up €549,416 (+15,820%), from €3,473 to €552,889
- Taxes +€63,958
up €63,958 (+167%), from €38,188 to €102,146
- Gross operating margin +€34,749
up €34,749 (+18.1%), from €192,108 to €226,857
- Financial charges -€9,220
down €9,220 (-19.4%), from €47,407 to €38,186
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 | €2,315,059 | €2,202,852 | -€112,207 | -4.8% |
| Fixed assets | 21/28 | €1,957,177 | €1,718,216 | -€238,962 | -12.2% |
| Tangible fixed assets | 22/27 | €367,154 | €124,692 | -€242,462 | -66.0% |
| Land and buildings | 22 | €276,695 | €59,039 | -€217,657 | -78.7% |
| Plant, machinery and equipment | 23 | €1,762 | €876 | -€886 | -50.3% |
| Furniture and vehicles | 24 | €85,631 | €62,987 | -€22,644 | -26.4% |
| Other tangible fixed assets | 26 | €3,066 | €1,791 | -€1,275 | -41.6% |
| Financial fixed assets | 28 | €1,590,023 | €1,593,523 | +€3,500 | +0.2% |
| Current assets | 29/58 | €357,882 | €484,636 | +€126,754 | +35.4% |
| Amounts receivable after more than one year | 29 | €124,602 | €104,824 | -€19,777 | -15.9% |
| Other amounts receivable | 291 | €124,602 | €104,824 | -€19,777 | -15.9% |
| Amounts receivable within one year | 40/41 | €134,393 | €270,472 | +€136,078 | +101% |
| Trade receivables | 40 | €3,630 | €0 | -€3,630 | -100% |
| Other amounts receivable | 41 | €130,764 | €270,472 | +€139,708 | +107% |
| Cash at bank and in hand | 54/58 | €88,708 | €106,669 | +€17,962 | +20.2% |
| Deferred charges and accrued income | 490/1 | €10,179 | €2,671 | -€7,508 | -73.8% |
| Total equity and liabilities | 10/49 | €2,315,059 | €2,202,852 | -€112,207 | -4.8% |
| Equity | 10/15 | €638,151 | €1,022,963 | +€384,812 | +60.3% |
| Contributions | 10/11 | €62,225 | €62,225 | = | 0.0% |
| Reserves | 13 | €575,926 | €960,738 | +€384,812 | +66.8% |
| Distributable reserves | 133 | €575,926 | €960,738 | +€384,812 | +66.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,676,908 | €1,179,889 | -€497,019 | -29.6% |
| Amounts payable after more than one year | 17 | €837,768 | €743,604 | -€94,164 | -11.2% |
| Financial debts | 170/4 | €577,258 | €483,094 | -€94,164 | -16.3% |
| Other amounts payable | 178/9 | €260,510 | €260,510 | = | 0.0% |
| Amounts payable within one year | 42/48 | €815,865 | €419,865 | -€396,000 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €90,999 | €126,463 | +€35,464 | +39.0% |
| Trade debts | 44 | €7,342 | €1,712 | -€5,629 | -76.7% |
| Suppliers | 440/4 | €7,342 | €1,712 | -€5,629 | -76.7% |
| Taxes, remuneration and social security | 45 | €13,807 | €39,570 | +€25,763 | +187% |
| Taxes | 450/3 | €13,807 | €39,570 | +€25,763 | +187% |
| Other amounts payable | 47/48 | €703,717 | €252,120 | -€451,597 | -64.2% |
| Accrued charges and deferred income | 492/3 | €23,275 | €16,419 | -€6,855 | -29.5% |
| Non-recurring operating income | 76A | €0 | €124,328 | +€124,328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,114 | €33,066 | -€1,047 | -3.1% |
| Other operating charges | 640/8 | €2,059 | €2,261 | +€202 | +9.8% |
| Gross operating margin | 9900 | €192,108 | €226,857 | +€34,749 | +18.1% |
| Operating profit (loss) | 9901 | €155,935 | €191,529 | +€35,594 | +22.8% |
| Financial income | 75/76B | €3,473 | €552,889 | +€549,416 | +15,820% |
| Recurring financial income | 75 | €3,473 | €552,889 | +€549,416 | +15,820% |
| Financial charges | 65/66B | €47,407 | €38,186 | -€9,220 | -19.4% |
| Recurring financial charges | 65 | €47,407 | €38,186 | -€9,220 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €112,002 | €706,232 | +€594,230 | +531% |
| Income taxes | 67/77 | €38,188 | €102,146 | +€63,958 | +167% |
| Profit (loss) for the period | 9904 | €73,814 | €604,086 | +€530,272 | +718% |
| Profit (loss) for the period to be appropriated | 9905 | €73,814 | €604,086 | +€530,272 | +718% |
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 30 October 2026 via checked.be.