PMA HELEON: 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.
PMA HELEON
Largest movements
- Receivables within one year -€339,254
down €339,254 (-16.2%), from €2.1m to €1.8m
of which Other amounts receivable: -€279,205
- Cash +€238,745
up €238,745 (+47.0%), from €507,740 to €746,485
mainly Net result for the year (+€704,977) and Receivables within one year (+€339,254)
- Other debts -€883,444
down €883,444 (-94.9%), from €931,267 to €47,824
- Reserves +€657,154
up €657,154 (+40.9%), from €1.6m to €2.3m
of which Distributable reserves: +€657,154
- Tax, wage and social debts +€50,674
up €50,674 (+45.5%), from €111,284 to €161,958
of which Taxes: +€45,155
- Gross operating margin -€245,378
down €245,378 (-13.5%), from €1.8m to €1.6m
- Taxes -€70,875
down €70,875 (-22.4%), from €315,760 to €244,884
- Staff costs +€36,207
up €36,207 (+6.5%), from €553,819 to €590,026
- Financial income -€20,300
down €20,300 (-54.6%), from €37,155 to €16,855
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 | €2,861,940 | €2,700,622 | -€161,318 | -5.6% |
| Fixed assets | 21/28 | €96,070 | €69,129 | -€26,941 | -28.0% |
| Tangible fixed assets | 22/27 | €96,070 | €69,129 | -€26,941 | -28.0% |
| Plant, machinery and equipment | 23 | €32,777 | €27,074 | -€5,703 | -17.4% |
| Furniture and vehicles | 24 | €49,260 | €29,689 | -€19,571 | -39.7% |
| Other tangible fixed assets | 26 | €14,034 | €12,366 | -€1,667 | -11.9% |
| Current assets | 29/58 | €2,765,870 | €2,631,493 | -€134,377 | -4.9% |
| Stocks and contracts in progress | 3 | €132,077 | €116,540 | -€15,537 | -11.8% |
| Stocks | 30/36 | €132,077 | €116,540 | -€15,537 | -11.8% |
| Amounts receivable within one year | 40/41 | €2,099,302 | €1,760,048 | -€339,254 | -16.2% |
| Trade receivables | 40 | €905,445 | €845,397 | -€60,048 | -6.6% |
| Other amounts receivable | 41 | €1,193,857 | €914,651 | -€279,205 | -23.4% |
| Cash at bank and in hand | 54/58 | €507,740 | €746,485 | +€238,745 | +47.0% |
| Deferred charges and accrued income | 490/1 | €26,751 | €8,420 | -€18,332 | -68.5% |
| Total equity and liabilities | 10/49 | €2,861,940 | €2,700,622 | -€161,318 | -5.6% |
| Equity | 10/15 | €1,668,311 | €2,325,465 | +€657,154 | +39.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,606,311 | €2,263,465 | +€657,154 | +40.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €954 | €954 | = | 0.0% |
| Distributable reserves | 133 | €1,599,158 | €2,256,311 | +€657,154 | +41.1% |
| Amounts payable | 17/49 | €1,193,629 | €375,158 | -€818,471 | -68.6% |
| Amounts payable within one year | 42/48 | €1,193,629 | €375,158 | -€818,471 | -68.6% |
| Trade debts | 44 | €151,078 | €165,375 | +€14,298 | +9.5% |
| Suppliers | 440/4 | €151,078 | €165,375 | +€14,298 | +9.5% |
| Taxes, remuneration and social security | 45 | €111,284 | €161,958 | +€50,674 | +45.5% |
| Taxes | 450/3 | €51,373 | €96,528 | +€45,155 | +87.9% |
| Remuneration and social security | 454/9 | €59,911 | €65,431 | +€5,520 | +9.2% |
| Other amounts payable | 47/48 | €931,267 | €47,824 | -€883,444 | -94.9% |
| Remuneration, social security and pensions | 62 | €553,819 | €590,026 | +€36,207 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,354 | €29,769 | -€585 | -1.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€28 | €2,495 | +€2,522 | |
| Other operating charges | 640/8 | €2,578 | €2,747 | +€169 | +6.5% |
| Gross operating margin | 9900 | €1,817,082 | €1,571,704 | -€245,378 | -13.5% |
| Operating profit (loss) | 9901 | €1,230,359 | €946,668 | -€283,691 | -23.1% |
| Financial income | 75/76B | €37,155 | €16,855 | -€20,300 | -54.6% |
| Recurring financial income | 75 | €37,155 | €16,855 | -€20,300 | -54.6% |
| Financial charges | 65/66B | €20,487 | €13,661 | -€6,826 | -33.3% |
| Recurring financial charges | 65 | €20,487 | €13,661 | -€6,826 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €1,247,027 | €949,861 | -€297,165 | -23.8% |
| Income taxes | 67/77 | €315,760 | €244,884 | -€70,875 | -22.4% |
| Profit (loss) for the period | 9904 | €931,267 | €704,977 | -€226,290 | -24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €931,267 | €704,977 | -€226,290 | -24.3% |
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 26 October 2026 via checked.be.