O. & G. HEUSCHEN: 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.
What changed
O. & G. HEUSCHEN
NACE 46.216, Wholesale of agricultural produce and animal feed, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€62,795
2024 · €41,651+€21,144
Equity
€672,886
2024 · €612,234+€60,651
Cash
€192,714
2024 · €63,185+€129,529
Balance sheet total
€1.8m
2024 · €1.5m+€249,609
Largest movements
Assets
- Cash +€129,529
up €129,529 (+205%), from €63,185 to €192,714
mainly Trade debts (+€143,597) and Depreciation (+€99,278)
- Receivables within one year +€84,339
up €84,339 (+22.3%), from €377,973 to €462,312
of which Trade receivables: +€97,631
- Stocks and contracts +€55,570
up €55,570 (+11.2%), from €495,044 to €550,614
- Tangible fixed assets -€20,224
down €20,224 (-3.4%), from €587,058 to €566,834
of which Land and buildings: -€24,423
Equity and liabilities
- Trade debts +€143,597
up €143,597 (+58.3%), from €246,324 to €389,922
- Profit (loss) carried forward +€64,959
up €64,959 (+96.6%), from €67,264 to €132,223
- Short-term financial debts +€50,000
up €50,000 (+25.0%), from €200,000 to €250,000
- Debts after one year -€19,435
down €19,435 (-6.4%), from €304,499 to €285,064
of which Other amounts payable: -€10,025
Income statement
- Gross operating margin +€24,152
up €24,152 (+4.8%), from €505,751 to €529,904
- Taxes +€11,327
up €11,327 (+184%), from €6,151 to €17,478
- Financial charges -€5,946
down €5,946 (-21.0%), from €28,372 to €22,426
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.
Result 2024
€41,651
Gross operating margin
+€24,152
Staff costs
+€1,734
Depreciation
-€1,266
Write-downs
+€2,585
Other operating charges
-€1,377
Financial income
+€893
Financial charges
+€5,946
Taxes
-€11,327
Deferred taxes and other
-€195
Result 2025
€62,795
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€165,575
Investment
-€79,054
Financing
+€43,008
Cash 2024
€63,185
From operations (derived)
+€165,575
Net result for the year
+€62,795
Depreciation
+€99,278
Stocks and contracts
-€55,570
Receivables within one year
-€84,339
Deferred charges and accrued income
-€394
Provisions
-€1,114
Trade debts
+€143,597
Tax, wage and social debts
-€886
Advances received
+€84
Other debts
+€2,125
Investment (derived)
-€79,054
Investment in fixed assets (net)
-€79,054
Financing
+€43,008
Debts after one year
-€19,435
Current portion of long-term debt
+€14,587
Short-term financial debts
+€50,000
Contributions, distributions and other
-€2,144
Cash 2025
€192,714
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,544,052 | €1,793,661 | +€249,609 | +16.2% |
| Fixed assets | 21/28 | €587,193 | €566,969 | -€20,224 | -3.4% |
| Tangible fixed assets | 22/27 | €587,058 | €566,834 | -€20,224 | -3.4% |
| Land and buildings | 22 | €496,362 | €471,938 | -€24,423 | -4.9% |
| Plant, machinery and equipment | 23 | €53,507 | €77,888 | +€24,381 | +45.6% |
| Furniture and vehicles | 24 | €13,196 | €6,624 | -€6,572 | -49.8% |
| Leasing and similar rights | 25 | €23,993 | €10,384 | -€13,610 | -56.7% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €956,859 | €1,226,692 | +€269,833 | +28.2% |
| Stocks and contracts in progress | 3 | €495,044 | €550,614 | +€55,570 | +11.2% |
| Stocks | 30/36 | €495,044 | €550,614 | +€55,570 | +11.2% |
| Amounts receivable within one year | 40/41 | €377,973 | €462,312 | +€84,339 | +22.3% |
| Trade receivables | 40 | €357,699 | €455,330 | +€97,631 | +27.3% |
| Other amounts receivable | 41 | €20,274 | €6,982 | -€13,292 | -65.6% |
| Cash at bank and in hand | 54/58 | €63,185 | €192,714 | +€129,529 | +205% |
| Deferred charges and accrued income | 490/1 | €20,657 | €21,051 | +€394 | +1.9% |
| Total equity and liabilities | 10/49 | €1,544,052 | €1,793,661 | +€249,609 | +16.2% |
| Equity | 10/15 | €612,234 | €672,886 | +€60,651 | +9.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €470,794 | €468,630 | -€2,164 | -0.5% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,288 | €1,124 | -€2,164 | -65.8% |
| Distributable reserves | 133 | €461,309 | €461,309 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,264 | €132,223 | +€64,959 | +96.6% |
| Investment grants | 15 | €12,203 | €10,059 | -€2,144 | -17.6% |
| Provisions and deferred taxes | 16 | €1,693 | €579 | -€1,114 | -65.8% |
| Deferred taxes | 168 | €1,693 | €579 | -€1,114 | -65.8% |
| Amounts payable | 17/49 | €930,125 | €1,120,196 | +€190,072 | +20.4% |
| Amounts payable after more than one year | 17 | €304,499 | €285,064 | -€19,435 | -6.4% |
| Financial debts | 170/4 | €277,128 | €267,718 | -€9,410 | -3.4% |
| Other amounts payable | 178/9 | €27,371 | €17,346 | -€10,025 | -36.6% |
| Amounts payable within one year | 42/48 | €625,626 | €835,132 | +€209,507 | +33.5% |
| Current portion of amounts payable after more than one year | 42 | €61,830 | €76,417 | +€14,587 | +23.6% |
| Financial debts | 43 | €200,000 | €250,000 | +€50,000 | +25.0% |
| Credit institutions | 430/8 | €200,000 | €250,000 | +€50,000 | +25.0% |
| Trade debts | 44 | €246,324 | €389,922 | +€143,597 | +58.3% |
| Suppliers | 440/4 | €246,324 | €389,922 | +€143,597 | +58.3% |
| Advances received on contracts in progress | 46 | €90 | €174 | +€84 | +93.8% |
| Taxes, remuneration and social security | 45 | €65,621 | €64,735 | -€886 | -1.4% |
| Taxes | 450/3 | €12,588 | €22,537 | +€9,949 | +79.0% |
| Remuneration and social security | 454/9 | €53,033 | €42,198 | -€10,835 | -20.4% |
| Other amounts payable | 47/48 | €51,760 | €53,885 | +€2,125 | +4.1% |
| Remuneration, social security and pensions | 62 | €313,327 | €311,593 | -€1,734 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,012 | €99,278 | +€1,266 | +1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,585 | - | -€2,585 | |
| Other operating charges | 640/8 | €18,980 | €20,357 | +€1,377 | +7.3% |
| Gross operating margin | 9900 | €505,751 | €529,904 | +€24,152 | +4.8% |
| Operating profit (loss) | 9901 | €72,848 | €98,676 | +€25,827 | +35.5% |
| Financial income | 75/76B | €2,016 | €2,909 | +€893 | +44.3% |
| Recurring financial income | 75 | €2,016 | €2,909 | +€893 | +44.3% |
| Financial charges | 65/66B | €28,372 | €22,426 | -€5,946 | -21.0% |
| Recurring financial charges | 65 | €28,372 | €22,426 | -€5,946 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €46,492 | €79,159 | +€32,667 | +70.3% |
| Transfer from deferred taxes | 780 | €1,309 | €1,114 | -€195 | -14.9% |
| Income taxes | 67/77 | €6,151 | €17,478 | +€11,327 | +184% |
| Profit (loss) for the period | 9904 | €41,651 | €62,795 | +€21,144 | +50.8% |
| Transfer from tax-exempt reserves | 789 | €2,542 | €2,164 | -€379 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €44,193 | €64,959 | +€20,766 | +47.0% |
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.