P. Helgers: 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
P. Helgers
NACE 47.722, Retail trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€15,743
2024 · -€5,898-€9,845
Equity
-€20,380
2024 · -€4,637-€15,743
Cash
€3,101
2024 · €2,844+€257
Balance sheet total
€254,429
2024 · €253,198+€1,231
Largest movements
Assets
- Stocks and contracts +€6,098
up €6,098 (+3.2%), from €189,339 to €195,437
- Tangible fixed assets -€4,658
down €4,658 (-8.6%), from €54,339 to €49,681
of which Other tangible fixed assets: -€8,155
Equity and liabilities
- Profit (loss) carried forward -€15,743
down €15,743 (-60.5%), from -€26,043 to -€41,786
- Short-term financial debts +€11,000
up €11,000 (+31.4%), from €35,000 to €46,000
- Other debts +€5,561
up €5,561 (+2.7%), from €208,305 to €213,866
Income statement
- Gross operating margin -€9,462
down €9,462 (-30.1%), from €31,469 to €22,007
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
-€5,898
Gross operating margin
-€9,462
Staff costs
-€103
Depreciation
-€295
Other operating charges
-€27
Financial charges
+€42
Result 2025
-€15,743
raises the resultlowers the result
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
-€5,091
Investment
-€5,653
Financing
+€11,000
Cash 2024
€2,844
From operations (derived)
-€5,091
Net result for the year
-€15,743
Depreciation
+€10,311
Stocks and contracts
-€6,098
Receivables within one year
+€602
Deferred charges and accrued income
-€137
Trade debts
+€687
Tax, wage and social debts
+€18
Advances received
-€105
Other debts
+€5,561
Accrued charges and deferred income
-€186
Investment (derived)
-€5,653
Investment in fixed assets (net)
-€5,653
Financing
+€11,000
Short-term financial debts
+€11,000
Cash 2025
€3,101
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €253,198 | €254,429 | +€1,231 | +0.5% |
| Fixed assets | 21/28 | €55,299 | €50,641 | -€4,658 | -8.4% |
| Tangible fixed assets | 22/27 | €54,339 | €49,681 | -€4,658 | -8.6% |
| Plant, machinery and equipment | 23 | €643 | €4,476 | +€3,833 | +596% |
| Furniture and vehicles | 24 | €1,999 | €1,663 | -€336 | -16.8% |
| Other tangible fixed assets | 26 | €51,697 | €43,542 | -€8,155 | -15.8% |
| Financial fixed assets | 28 | €960 | €960 | = | 0.0% |
| Current assets | 29/58 | €197,899 | €203,788 | +€5,889 | +3.0% |
| Stocks and contracts in progress | 3 | €189,339 | €195,437 | +€6,098 | +3.2% |
| Stocks | 30/36 | €189,339 | €195,437 | +€6,098 | +3.2% |
| Amounts receivable within one year | 40/41 | €2,822 | €2,220 | -€602 | -21.3% |
| Trade receivables | 40 | €2,191 | €2,220 | +€29 | +1.3% |
| Other amounts receivable | 41 | €631 | - | -€631 | |
| Cash at bank and in hand | 54/58 | €2,844 | €3,101 | +€257 | +9.0% |
| Deferred charges and accrued income | 490/1 | €2,894 | €3,031 | +€137 | +4.7% |
| Total equity and liabilities | 10/49 | €253,198 | €254,429 | +€1,231 | +0.5% |
| Equity | 10/15 | -€4,637 | -€20,380 | -€15,743 | -340% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,806 | €2,806 | = | 0.0% |
| Distributable reserves | 133 | €2,806 | €2,806 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,043 | -€41,786 | -€15,743 | -60.5% |
| Amounts payable | 17/49 | €257,835 | €274,809 | +€16,974 | +6.6% |
| Amounts payable within one year | 42/48 | €256,577 | €273,737 | +€17,160 | +6.7% |
| Financial debts | 43 | €35,000 | €46,000 | +€11,000 | +31.4% |
| Credit institutions | 430/8 | €35,000 | €46,000 | +€11,000 | +31.4% |
| Trade debts | 44 | €2,039 | €2,725 | +€687 | +33.7% |
| Suppliers | 440/4 | €2,039 | €2,725 | +€687 | +33.7% |
| Advances received on contracts in progress | 46 | €607 | €502 | -€105 | -17.3% |
| Taxes, remuneration and social security | 45 | €10,626 | €10,644 | +€18 | +0.2% |
| Taxes | 450/3 | €8,431 | €8,665 | +€234 | +2.8% |
| Remuneration and social security | 454/9 | €2,196 | €1,979 | -€217 | -9.9% |
| Other amounts payable | 47/48 | €208,305 | €213,866 | +€5,561 | +2.7% |
| Accrued charges and deferred income | 492/3 | €1,258 | €1,072 | -€186 | -14.8% |
| Remuneration, social security and pensions | 62 | €18,547 | €18,650 | +€103 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,016 | €10,311 | +€295 | +2.9% |
| Other operating charges | 640/8 | €1,790 | €1,817 | +€27 | +1.5% |
| Gross operating margin | 9900 | €31,469 | €22,007 | -€9,462 | -30.1% |
| Operating profit (loss) | 9901 | €1,116 | -€8,771 | -€9,887 | |
| Financial charges | 65/66B | €7,015 | €6,972 | -€42 | -0.6% |
| Recurring financial charges | 65 | €7,015 | €6,972 | -€42 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | -€5,898 | -€15,743 | -€9,845 | -167% |
| Profit (loss) for the period | 9904 | -€5,898 | -€15,743 | -€9,845 | -167% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,898 | -€15,743 | -€9,845 | -167% |
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 13 October 2026 via checked.be.