HIELTJE: 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.
HIELTJE
Largest movements
- Receivables within one year +€29,795
up €29,795 (+109%), from €27,439 to €57,234
of which Other amounts receivable: +€33,782
- Current investments -€7,933
down €7,933 (-9.4%), from €84,378 to €76,446
- Tangible fixed assets -€7,679
down €7,679 (-28.6%), from €26,843 to €19,164
of which Plant, machinery and equipment: -€7,079
- Reserves -€89,417
down €89,417 (-71.8%), from €124,589 to €35,172
of which Distributable reserves: -€89,417
- Other debts +€85,000
new in 2025: €85,000
- Tax, wage and social debts +€16,419
up €16,419 (+690%), from €2,380 to €18,799
- Trade debts +€1,835
up €1,835 (+484%), from €379 to €2,215
- Gross operating margin +€36,900
up €36,900, from -€19,951 to €16,949
- Staff costs -€2,515
down €2,515 (-63.6%), from €3,952 to €1,437
- Taxes -€1,880
down €1,880, from €1,220 to -€660
- Other operating charges -€1,152
down €1,152 (-78.3%), from €1,472 to €320
- Financial income +€1,107
up €1,107 (+78.9%), from €1,402 to €2,509
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 | €145,948 | €159,786 | +€13,838 | +9.5% |
| Fixed assets | 21/28 | €30,443 | €22,764 | -€7,679 | -25.2% |
| Tangible fixed assets | 22/27 | €26,843 | €19,164 | -€7,679 | -28.6% |
| Land and buildings | 22 | €1,803 | €1,202 | -€601 | -33.3% |
| Plant, machinery and equipment | 23 | €25,041 | €17,962 | -€7,079 | -28.3% |
| Financial fixed assets | 28 | €3,600 | €3,600 | = | 0.0% |
| Current assets | 29/58 | €115,505 | €137,022 | +€21,517 | +18.6% |
| Stocks and contracts in progress | 3 | €2,494 | €2,150 | -€344 | -13.8% |
| Stocks | 30/36 | €2,494 | €2,150 | -€344 | -13.8% |
| Amounts receivable within one year | 40/41 | €27,439 | €57,234 | +€29,795 | +109% |
| Trade receivables | 40 | €3,987 | - | -€3,987 | |
| Other amounts receivable | 41 | €23,452 | €57,234 | +€33,782 | +144% |
| Current investments | 50/53 | €84,378 | €76,446 | -€7,933 | -9.4% |
| Cash at bank and in hand | 54/58 | €1,194 | €1,192 | -€2 | -0.2% |
| Total equity and liabilities | 10/49 | €145,948 | €159,786 | +€13,838 | +9.5% |
| Equity | 10/15 | €143,189 | €53,772 | -€89,417 | -62.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,589 | €35,172 | -€89,417 | -71.8% |
| 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 | €122,729 | €33,312 | -€89,417 | -72.9% |
| Amounts payable | 17/49 | €2,759 | €106,014 | +€103,255 | +3,742% |
| Amounts payable within one year | 42/48 | €2,759 | €106,014 | +€103,255 | +3,742% |
| Trade debts | 44 | €379 | €2,215 | +€1,835 | +484% |
| Suppliers | 440/4 | €379 | €2,215 | +€1,835 | +484% |
| Taxes, remuneration and social security | 45 | €2,380 | €18,799 | +€16,419 | +690% |
| Taxes | 450/3 | €2,380 | €18,799 | +€16,419 | +690% |
| Other amounts payable | 47/48 | - | €85,000 | +€85,000 | |
| Non-recurring operating income | 76A | - | €5,500 | +€5,500 | |
| Remuneration, social security and pensions | 62 | €3,952 | €1,437 | -€2,515 | -63.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,679 | €7,679 | = | 0.0% |
| Other operating charges | 640/8 | €1,472 | €320 | -€1,152 | -78.3% |
| Gross operating margin | 9900 | -€19,951 | €16,949 | +€36,900 | |
| Operating profit (loss) | 9901 | -€33,055 | €7,512 | +€40,567 | |
| Financial income | 75/76B | €1,402 | €2,509 | +€1,107 | +78.9% |
| Recurring financial income | 75 | €1,402 | €2,509 | +€1,107 | +78.9% |
| Financial charges | 65/66B | €200 | €99 | -€101 | -50.6% |
| Recurring financial charges | 65 | €200 | €99 | -€101 | -50.6% |
| Profit (loss) for the period before taxes | 9903 | -€31,853 | €9,923 | +€41,775 | |
| Income taxes | 67/77 | €1,220 | -€660 | -€1,880 | |
| Profit (loss) for the period | 9904 | -€33,072 | €10,583 | +€43,655 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,072 | €10,583 | +€43,655 |
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 29 October 2026 via checked.be.