L'HERITAGE: 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.
L'HERITAGE
Largest movements
- Current investments +€900,000
new in 2025: €900,000
- Cash -€607,924
down €607,924 (-59.0%), from €1.0m to €421,780
mainly Current investments (-€900,000) and Receivables within one year (-€135,605)
- Tangible fixed assets -€179,701
down €179,701 (-4.4%), from €4.1m to €3.9m
of which Land and buildings: -€184,730
- Receivables after one year -€143,480
no longer reported in 2025 (was €143,480)
- Receivables within one year +€135,605
new in 2025: €135,605
of which Other amounts receivable: +€126,030
- Profit (loss) carried forward +€194,707
up €194,707 (+33.5%), from €580,626 to €775,333
- Reserves -€80,826
down €80,826 (-2.4%), from €3.3m to €3.2m
of which Tax-exempt reserves: -€80,826
- Depreciation -€96,471
down €96,471 (-32.9%), from €292,811 to €196,340
- Gross operating margin -€32,674
down €32,674 (-5.7%), from €574,064 to €541,389
- Financial charges +€11,811
up €11,811 (+4702.0%), from €251 to €12,063
of which Financial charges: +€11,811
- Financial income -€7,527
down €7,527 (-46.9%), from €16,047 to €8,520
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 | €5,281,456 | €5,388,831 | +€107,375 | +2.0% |
| Fixed assets | 21/28 | €4,096,146 | €3,916,445 | -€179,701 | -4.4% |
| Tangible fixed assets | 22/27 | €4,095,957 | €3,916,256 | -€179,701 | -4.4% |
| Land and buildings | 22 | €4,070,485 | €3,885,754 | -€184,730 | -4.5% |
| Plant, machinery and equipment | 23 | €332 | €132 | -€200 | -60.2% |
| Furniture and vehicles | 24 | €25,140 | €30,369 | +€5,229 | +20.8% |
| Financial fixed assets | 28 | €189 | €189 | = | 0.0% |
| Current assets | 29/58 | €1,185,310 | €1,472,386 | +€287,076 | +24.2% |
| Amounts receivable after more than one year | 29 | €143,480 | - | -€143,480 | |
| Other amounts receivable | 291 | €143,480 | - | -€143,480 | |
| Amounts receivable within one year | 40/41 | - | €135,605 | +€135,605 | |
| Trade receivables | 40 | - | €9,575 | +€9,575 | |
| Other amounts receivable | 41 | - | €126,030 | +€126,030 | |
| Current investments | 50/53 | - | €900,000 | +€900,000 | |
| Cash at bank and in hand | 54/58 | €1,029,704 | €421,780 | -€607,924 | -59.0% |
| Deferred charges and accrued income | 490/1 | €12,125 | €15,000 | +€2,875 | +23.7% |
| Total equity and liabilities | 10/49 | €5,281,456 | €5,388,831 | +€107,375 | +2.0% |
| Equity | 10/15 | €4,722,763 | €4,836,643 | +€113,881 | +2.4% |
| Contributions | 10/11 | €835,000 | €835,000 | = | 0.0% |
| Reserves | 13 | €3,307,137 | €3,226,311 | -€80,826 | -2.4% |
| Non-distributable reserves | 130/1 | €150,000 | €150,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €150,000 | €150,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,957,170 | €2,876,344 | -€80,826 | -2.7% |
| Distributable reserves | 133 | €199,966 | €199,966 | = | 0.0% |
| Profit (loss) carried forward | 14 | €580,626 | €775,333 | +€194,707 | +33.5% |
| Provisions and deferred taxes | 16 | €473,284 | €446,342 | -€26,942 | -5.7% |
| Deferred taxes | 168 | €473,284 | €446,342 | -€26,942 | -5.7% |
| Amounts payable | 17/49 | €85,410 | €105,846 | +€20,436 | +23.9% |
| Amounts payable after more than one year | 17 | €20,743 | €18,343 | -€2,400 | -11.6% |
| Other amounts payable | 178/9 | €20,743 | €18,343 | -€2,400 | -11.6% |
| Amounts payable within one year | 42/48 | €35,917 | €51,772 | +€15,855 | +44.1% |
| Trade debts | 44 | €10,151 | €25,402 | +€15,251 | +150.2% |
| Suppliers | 440/4 | €10,151 | €25,402 | +€15,251 | +150.2% |
| Taxes, remuneration and social security | 45 | €25,765 | €25,935 | +€170 | +0.7% |
| Taxes | 450/3 | €4,677 | €4,677 | = | 0.0% |
| Remuneration and social security | 454/9 | €21,088 | €21,258 | +€170 | +0.8% |
| Other amounts payable | 47/48 | - | €434 | +€434 | |
| Accrued charges and deferred income | 492/3 | €28,750 | €35,731 | +€6,981 | +24.3% |
| Remuneration, social security and pensions | 62 | €191,696 | €186,043 | -€5,652 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €292,811 | €196,340 | -€96,471 | -32.9% |
| Other operating charges | 640/8 | €1,736 | €1,788 | +€52 | +3.0% |
| Gross operating margin | 9900 | €574,064 | €541,389 | -€32,674 | -5.7% |
| Operating profit (loss) | 9901 | €87,821 | €157,218 | +€69,396 | +79.0% |
| Financial income | 75/76B | €16,047 | €8,520 | -€7,527 | -46.9% |
| Recurring financial income | 75 | €16,047 | €8,520 | -€7,527 | -46.9% |
| Financial charges | 65/66B | €251 | €12,063 | +€11,811 | +4702.0% |
| Recurring financial charges | 65 | €251 | €12,063 | +€11,811 | +4702.0% |
| Non-recurring financial charges | 66B | €251 | - | -€251 | |
| Profit (loss) for the period before taxes | 9903 | €103,617 | €153,675 | +€50,058 | +48.3% |
| Transfer from deferred taxes | 780 | €26,942 | €26,942 | = | 0.0% |
| Income taxes | 67/77 | €71,399 | €66,737 | -€4,662 | -6.5% |
| Profit (loss) for the period | 9904 | €59,161 | €113,881 | +€54,720 | +92.5% |
| Transfer from tax-exempt reserves | 789 | €80,826 | €80,826 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €139,986 | €194,707 | +€54,720 | +39.1% |
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 10 October 2026 via checked.be.