l'Heritage: what changed
l'Heritage
Largest movements
- Tangible fixed assets -€35,090
down €35,090 (-10.4%), from €338,481 to €303,390
of which Land and buildings: -€26,092
- Cash -€9,327
down €9,327 (-47.3%), from €19,710 to €10,383
mainly Debts after one year (-€65,225) and Investment in fixed assets (net) (-€28,639)
- Receivables within one year -€9,135
down €9,135 (-66.1%), from €13,812 to €4,677
of which Other amounts receivable: -€8,773
- Deferred charges and accrued income -€5,476
down €5,476 (-64.8%), from €8,451 to €2,975
- Stocks and contracts +€5,083
up €5,083 (+6.7%), from €76,023 to €81,106
- Debts after one year -€65,225
down €65,225 (-25.6%), from €255,148 to €189,923
- Other debts +€14,933
up €14,933 (+8.1%), from €183,525 to €198,458
- Current portion of long-term debt -€13,358
down €13,358 (-14.0%), from €95,332 to €81,974
- Tax, wage and social debts +€9,676
up €9,676 (+31.1%), from €31,126 to €40,802
of which Remuneration and social security: +€8,643
- Staff costs +€60,136
up €60,136 (+25.9%), from €232,226 to €292,362
- Gross operating margin +€32,293
up €32,293 (+9.5%), from €338,434 to €370,726
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €469,660 | €413,415 | -€56,245 | -12.0% |
| Fixed assets | 21/28 | €351,664 | €314,273 | -€37,390 | -10.6% |
| Intangible fixed assets | 21 | €7,583 | €4,083 | -€3,500 | -46.2% |
| Tangible fixed assets | 22/27 | €338,481 | €303,390 | -€35,090 | -10.4% |
| Land and buildings | 22 | €222,050 | €195,958 | -€26,092 | -11.8% |
| Plant, machinery and equipment | 23 | €32,383 | €43,962 | +€11,579 | +35.8% |
| Furniture and vehicles | 24 | €12,443 | €8,180 | -€4,263 | -34.3% |
| Leasing and similar rights | 25 | €71,604 | €55,290 | -€16,314 | -22.8% |
| Financial fixed assets | 28 | €5,600 | €6,800 | +€1,200 | +21.4% |
| Current assets | 29/58 | €117,997 | €99,142 | -€18,855 | -16.0% |
| Stocks and contracts in progress | 3 | €76,023 | €81,106 | +€5,083 | +6.7% |
| Stocks | 30/36 | €76,023 | €81,106 | +€5,083 | +6.7% |
| Amounts receivable within one year | 40/41 | €13,812 | €4,677 | -€9,135 | -66.1% |
| Trade receivables | 40 | €362 | - | -€362 | |
| Other amounts receivable | 41 | €13,450 | €4,677 | -€8,773 | -65.2% |
| Cash at bank and in hand | 54/58 | €19,710 | €10,383 | -€9,327 | -47.3% |
| Deferred charges and accrued income | 490/1 | €8,451 | €2,975 | -€5,476 | -64.8% |
| Total equity and liabilities | 10/49 | €469,660 | €413,415 | -€56,245 | -12.0% |
| Equity | 10/15 | -€179,160 | -€183,764 | -€4,604 | -2.6% |
| Contributions | 10/11 | €131,200 | €131,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€310,360 | -€314,964 | -€4,604 | -1.5% |
| Amounts payable | 17/49 | €648,821 | €597,179 | -€51,642 | -8.0% |
| Amounts payable after more than one year | 17 | €255,148 | €189,923 | -€65,225 | -25.6% |
| Financial debts | 170/4 | €255,148 | €189,923 | -€65,225 | -25.6% |
| Amounts payable within one year | 42/48 | €393,294 | €406,783 | +€13,489 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €95,332 | €81,974 | -€13,358 | -14.0% |
| Trade debts | 44 | €83,310 | €85,548 | +€2,238 | +2.7% |
| Suppliers | 440/4 | €83,310 | €85,548 | +€2,238 | +2.7% |
| Taxes, remuneration and social security | 45 | €31,126 | €40,802 | +€9,676 | +31.1% |
| Taxes | 450/3 | €6,029 | €7,062 | +€1,033 | +17.1% |
| Remuneration and social security | 454/9 | €25,097 | €33,740 | +€8,643 | +34.4% |
| Other amounts payable | 47/48 | €183,525 | €198,458 | +€14,933 | +8.1% |
| Accrued charges and deferred income | 492/3 | €379 | €474 | +€94 | +24.9% |
| Remuneration, social security and pensions | 62 | €232,226 | €292,362 | +€60,136 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,943 | €66,030 | +€1,086 | +1.7% |
| Other operating charges | 640/8 | €5,146 | €6,621 | +€1,475 | +28.7% |
| Gross operating margin | 9900 | €338,434 | €370,726 | +€32,293 | +9.5% |
| Operating profit (loss) | 9901 | €36,119 | €5,713 | -€30,405 | -84.2% |
| Financial charges | 65/66B | €10,293 | €10,317 | +€24 | +0.2% |
| Recurring financial charges | 65 | €10,293 | €10,317 | +€24 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €25,826 | -€4,604 | -€30,429 | |
| Profit (loss) for the period | 9904 | €25,826 | -€4,604 | -€30,429 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,826 | -€4,604 | -€30,429 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.