LOCAL HEROES: 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.
LOCAL HEROES
Largest movements
- Stocks and contracts +€14,965
up €14,965 (+32.3%), from €46,365 to €61,330
- Cash -€8,599
down €8,599 (-51.7%), from €16,632 to €8,033
mainly Trade debts (-€19,385) and Stocks and contracts (-€14,965)
- Tangible fixed assets +€4,081
up €4,081 (+123%), from €3,307 to €7,388
of which Plant, machinery and equipment: +€3,006
- Short-term financial debts +€29,500
new in 2025: €29,500
- Trade debts -€19,385
down €19,385 (-46.4%), from €41,769 to €22,384
- Tax, wage and social debts +€5,073
up €5,073 (+53.1%), from €9,552 to €14,625
- Other debts -€5,050
down €5,050 (-26.4%), from €19,124 to €14,074
- Profit (loss) carried forward +€1,449
up €1,449 (+6.3%), from €23,184 to €24,633
- Gross operating margin -€19,029
down €19,029 (-51.6%), from €36,855 to €17,826
- Taxes -€4,690
down €4,690 (-67.5%), from €6,944 to €2,254
- Write-downs +€2,908
up €2,908, from -€2,908 to €0
- Other operating charges +€2,153
up €2,153 (+24.7%), from €8,727 to €10,881
- Depreciation +€1,545
up €1,545 (+102%), from €1,516 to €3,061
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 | €103,627 | €115,214 | +€11,587 | +11.2% |
| Fixed assets | 21/28 | €3,307 | €8,488 | +€5,181 | +157% |
| Tangible fixed assets | 22/27 | €3,307 | €7,388 | +€4,081 | +123% |
| Plant, machinery and equipment | 23 | €1,369 | €4,375 | +€3,006 | +220% |
| Furniture and vehicles | 24 | €1,938 | €3,013 | +€1,075 | +55.5% |
| Financial fixed assets | 28 | - | €1,100 | +€1,100 | |
| Current assets | 29/58 | €100,319 | €106,726 | +€6,406 | +6.4% |
| Stocks and contracts in progress | 3 | €46,365 | €61,330 | +€14,965 | +32.3% |
| Stocks | 30/36 | €46,365 | €61,330 | +€14,965 | +32.3% |
| Amounts receivable within one year | 40/41 | €36,822 | €36,702 | -€120 | -0.3% |
| Trade receivables | 40 | €36,372 | €35,440 | -€932 | -2.6% |
| Other amounts receivable | 41 | €450 | €1,262 | +€812 | +180% |
| Cash at bank and in hand | 54/58 | €16,632 | €8,033 | -€8,599 | -51.7% |
| Deferred charges and accrued income | 490/1 | €500 | €660 | +€160 | +32.0% |
| Total equity and liabilities | 10/49 | €103,627 | €115,214 | +€11,587 | +11.2% |
| Equity | 10/15 | €33,183 | €34,632 | +€1,449 | +4.4% |
| Contributions | 10/11 | €9,999 | €9,999 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,184 | €24,633 | +€1,449 | +6.3% |
| Amounts payable | 17/49 | €70,444 | €80,582 | +€10,138 | +14.4% |
| Amounts payable within one year | 42/48 | €70,444 | €80,582 | +€10,138 | +14.4% |
| Financial debts | 43 | - | €29,500 | +€29,500 | |
| Credit institutions | 430/8 | - | €29,500 | +€29,500 | |
| Trade debts | 44 | €41,769 | €22,384 | -€19,385 | -46.4% |
| Suppliers | 440/4 | €41,769 | €22,384 | -€19,385 | -46.4% |
| Taxes, remuneration and social security | 45 | €9,552 | €14,625 | +€5,073 | +53.1% |
| Taxes | 450/3 | €9,552 | €14,625 | +€5,073 | +53.1% |
| Other amounts payable | 47/48 | €19,124 | €14,074 | -€5,050 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,516 | €3,061 | +€1,545 | +102% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,908 | €0 | +€2,908 | |
| Other operating charges | 640/8 | €8,727 | €10,881 | +€2,153 | +24.7% |
| Non-recurring operating charges | 66A | €145 | €0 | -€145 | -100% |
| Gross operating margin | 9900 | €36,855 | €17,826 | -€19,029 | -51.6% |
| Operating profit (loss) | 9901 | €29,375 | €3,884 | -€25,491 | -86.8% |
| Financial income | 75/76B | €42 | €1,223 | +€1,181 | +2,803% |
| Recurring financial income | 75 | €42 | €1,223 | +€1,181 | +2,803% |
| Financial charges | 65/66B | €340 | €1,404 | +€1,064 | +313% |
| Recurring financial charges | 65 | €340 | €1,404 | +€1,064 | +313% |
| Profit (loss) for the period before taxes | 9903 | €29,077 | €3,704 | -€25,373 | -87.3% |
| Income taxes | 67/77 | €6,944 | €2,254 | -€4,690 | -67.5% |
| Profit (loss) for the period | 9904 | €22,133 | €1,449 | -€20,683 | -93.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,133 | €1,449 | -€20,683 | -93.5% |
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 21 October 2026 via checked.be.