' s HEEREN FREDERIC: what changed
What changed
' s HEEREN FREDERIC
NACE 49.410, Freight transport by road
filed annual accounts (NBB)
Net result for the year
€403,500
2024 · -€178,844+€582,344
Equity
€1.7m
2024 · €1.3m+€410,585
Cash
€210,276
2024 · €214,073-€3,797
Balance sheet total
€22.3m
2024 · €23.2m-€919,663
Largest movements
Assets
- Receivables within one year -€491,639
down €491,639 (-8.1%), from €6.0m to €5.6m
of which Trade receivables: -€546,032
- Tangible fixed assets -€433,174
down €433,174 (-3.5%), from €12.3m to €11.8m
of which Leasing and similar rights: -€556,778
Equity and liabilities
- Debts after one year -€1.6m
down €1.6m (-12.9%), from €12.2m to €10.6m
of which Financial debts: -€1.6m
- Current portion of long-term debt +€316,196
up €316,196 (+11.4%), from €2.8m to €3.1m
- Reserves +€274,067
up €274,067 (+1,643%), from €16,678 to €290,745
of which Tax-exempt reserves: +€274,067
Income statement
- Turnover +€2.0m
up €2.0m (+6.8%), from €29.2m to €31.2m
- Staff costs +€840,605
up €840,605 (+8.3%), from €10.1m to €11.0m
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.
Result 2024
-€178,844
Turnover
+€2.0m
Other operating income
-€45,500
Goods and materials
-€234,345
Services and other goods
-€95,032
Staff costs
-€840,605
Depreciation
-€279,853
Write-downs
+€19,739
Other operating charges
-€22,478
Other operating items
+€203,394
Financial income
+€18,491
Financial charges
-€41,043
Taxes
-€429
Deferred taxes and other
-€91,356
Result 2025
€403,500
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4.2m
Investment
-€2.9m
Financing
-€1.3m
Cash 2024
€214,073
From operations (derived)
+€4.2m
Net result for the year
+€403,500
Depreciation
+€3.4m
Receivables after one year
-€41,585
Stocks and contracts
+€25,330
Receivables within one year
+€491,639
Deferred charges and accrued income
-€49,050
Provisions
+€91,356
Trade debts
+€61,288
Tax, wage and social debts
-€229,672
Other debts
+€2,066
Accrued charges and deferred income
+€42,178
Investment (derived)
-€2.9m
Investment in fixed assets (net)
-€2.9m
Current investments
-€0
Financing
-€1.3m
Debts after one year
-€1.6m
Current portion of long-term debt
+€316,196
Short-term financial debts
-€45,251
Contributions, distributions and other
+€7,085
Cash 2025
€210,276
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,241,012 | €22,321,350 | -€919,663 | -4.0% |
| Fixed assets | 21/28 | €15,291,549 | €14,802,017 | -€489,532 | -3.2% |
| Intangible fixed assets | 21 | €827,651 | €771,029 | -€56,622 | -6.8% |
| Tangible fixed assets | 22/27 | €12,273,568 | €11,840,393 | -€433,174 | -3.5% |
| Land and buildings | 22 | €1,854,040 | €1,847,237 | -€6,803 | -0.4% |
| Plant, machinery and equipment | 23 | €359,875 | €375,346 | +€15,470 | +4.3% |
| Furniture and vehicles | 24 | €730,083 | €845,018 | +€114,935 | +15.7% |
| Leasing and similar rights | 25 | €9,329,570 | €8,772,792 | -€556,778 | -6.0% |
| Financial fixed assets | 28 | €2,190,330 | €2,190,594 | +€264 | 0.0% |
| Affiliated companies | 280/1 | €2,113,409 | €2,113,409 | = | 0.0% |
| Participating interests | 280 | €2,113,409 | €2,113,409 | = | 0.0% |
| Other financial fixed assets | 284/8 | €76,921 | €77,185 | +€264 | +0.3% |
| Shares | 284 | €64,481 | €64,746 | +€264 | +0.4% |
| Amounts receivable and cash guarantees | 285/8 | €12,439 | €12,439 | = | 0.0% |
| Current assets | 29/58 | €7,949,464 | €7,519,333 | -€430,131 | -5.4% |
| Amounts receivable after more than one year | 29 | €693,048 | €734,633 | +€41,585 | +6.0% |
| Other amounts receivable | 291 | €693,048 | €734,633 | +€41,585 | +6.0% |
| Stocks and contracts in progress | 3 | €124,008 | €98,678 | -€25,330 | -20.4% |
| Stocks | 30/36 | €124,008 | €98,678 | -€25,330 | -20.4% |
| Raw materials and consumables | 30/31 | €124,008 | €98,678 | -€25,330 | -20.4% |
| Amounts receivable within one year | 40/41 | €6,044,855 | €5,553,216 | -€491,639 | -8.1% |
| Trade receivables | 40 | €5,699,803 | €5,153,771 | -€546,032 | -9.6% |
| Other amounts receivable | 41 | €345,052 | €399,445 | +€54,393 | +15.8% |
| Current investments | 50/53 | €125,000 | €125,000 | +€0 | 0.0% |
| Other investments | 51/53 | €125,000 | €125,000 | +€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €214,073 | €210,276 | -€3,797 | -1.8% |
| Deferred charges and accrued income | 490/1 | €748,480 | €797,529 | +€49,050 | +6.6% |
| Total equity and liabilities | 10/49 | €23,241,012 | €22,321,350 | -€919,663 | -4.0% |
| Equity | 10/15 | €1,259,575 | €1,670,159 | +€410,585 | +32.6% |
| Contributions | 10/11 | €166,780 | €166,780 | = | 0.0% |
| Reserves | 13 | €16,678 | €290,745 | +€274,067 | +1,643% |
| Tax-exempt reserves | 132 | €0 | €274,067 | +€274,067 | |
| Distributable reserves | 133 | €16,678 | €16,678 | = | 0.0% |
| Profit (loss) carried forward | 14 | €963,748 | €1,093,181 | +€129,433 | +13.4% |
| Investment grants | 15 | €112,368 | €119,453 | +€7,085 | +6.3% |
| Provisions and deferred taxes | 16 | - | €91,356 | +€91,356 | |
| Deferred taxes | 168 | - | €91,356 | +€91,356 | |
| Amounts payable | 17/49 | €21,981,438 | €20,559,835 | -€1.4m | -6.5% |
| Amounts payable after more than one year | 17 | €12,150,713 | €10,582,304 | -€1.6m | -12.9% |
| Financial debts | 170/4 | €11,500,713 | €9,932,304 | -€1.6m | -13.6% |
| Leasing and similar obligations | 172 | €7,152,520 | €6,525,521 | -€627,000 | -8.8% |
| Credit institutions | 173 | €1,075,697 | €745,273 | -€330,423 | -30.7% |
| Other loans | 174 | €3,272,496 | €2,661,510 | -€610,986 | -18.7% |
| Other amounts payable | 178/9 | €650,000 | €650,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,706,457 | €9,811,085 | +€104,628 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €2,780,533 | €3,096,729 | +€316,196 | +11.4% |
| Financial debts | 43 | €2,515,429 | €2,470,178 | -€45,251 | -1.8% |
| Credit institutions | 430/8 | €2,440,429 | €2,395,178 | -€45,251 | -1.9% |
| Other loans | 439 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €2,434,360 | €2,495,648 | +€61,288 | +2.5% |
| Suppliers | 440/4 | €2,434,360 | €2,495,648 | +€61,288 | +2.5% |
| Taxes, remuneration and social security | 45 | €1,970,726 | €1,741,055 | -€229,672 | -11.7% |
| Taxes | 450/3 | €530,361 | €318,202 | -€212,158 | -40.0% |
| Remuneration and social security | 454/9 | €1,440,366 | €1,422,853 | -€17,513 | -1.2% |
| Other amounts payable | 47/48 | €5,410 | €7,476 | +€2,066 | +38.2% |
| Accrued charges and deferred income | 492/3 | €124,267 | €166,445 | +€42,178 | +33.9% |
| Operating income | 70/76A | €31,309,561 | €33,381,284 | +€2.1m | +6.6% |
| Turnover | 70 | €29,167,451 | €31,158,812 | +€2.0m | +6.8% |
| Own construction capitalised | 72 | €0 | - | = | |
| Other operating income | 74 | €1,855,639 | €1,810,139 | -€45,500 | -2.5% |
| Non-recurring operating income | 76A | €286,472 | €412,333 | +€125,861 | +43.9% |
| Operating charges | 60/66A | €30,998,066 | €32,373,107 | +€1.4m | +4.4% |
| Goods for resale, raw materials and consumables | 60 | €10,542,702 | €10,777,047 | +€234,345 | +2.2% |
| Purchases | 600/8 | €10,573,018 | €10,751,718 | +€178,699 | +1.7% |
| Change in stocks: decrease (increase) | 609 | -€30,316 | €25,330 | +€55,646 | |
| Services and other goods | 61 | €5,480,201 | €5,575,233 | +€95,032 | +1.7% |
| Remuneration, social security and pensions | 62 | €10,146,236 | €10,986,841 | +€840,605 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,091,551 | €3,371,404 | +€279,853 | +9.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,739 | €0 | -€19,739 | -100% |
| Other operating charges | 640/8 | €1,625,305 | €1,647,782 | +€22,478 | +1.4% |
| Non-recurring operating charges | 66A | €92,332 | €14,800 | -€77,533 | -84.0% |
| Operating profit (loss) | 9901 | €311,496 | €1,008,176 | +€696,681 | +224% |
| Financial income | 75/76B | €210,841 | €229,332 | +€18,491 | +8.8% |
| Recurring financial income | 75 | €210,841 | €229,332 | +€18,491 | +8.8% |
| Income from financial fixed assets | 750 | €180,335 | €180,378 | +€43 | 0.0% |
| Income from current assets | 751 | €26,454 | €44,306 | +€17,852 | +67.5% |
| Other financial income | 752/9 | €4,053 | €4,648 | +€595 | +14.7% |
| Financial charges | 65/66B | €695,962 | €737,004 | +€41,043 | +5.9% |
| Recurring financial charges | 65 | €695,962 | €737,004 | +€41,043 | +5.9% |
| Debt charges | 650 | €490,175 | €584,162 | +€93,988 | +19.2% |
| Other financial charges | 652/9 | €205,787 | €152,842 | -€52,945 | -25.7% |
| Profit (loss) for the period before taxes | 9903 | -€173,625 | €500,504 | +€674,129 | |
| Transfer to deferred taxes | 680 | - | €91,356 | +€91,356 | |
| Income taxes | 67/77 | €5,219 | €5,648 | +€429 | +8.2% |
| Taxes | 670/3 | €5,219 | €5,648 | +€429 | +8.2% |
| Profit (loss) for the period | 9904 | -€178,844 | €403,500 | +€582,344 | |
| Transfer from tax-exempt reserves | 789 | €92,620 | €0 | -€92,620 | -100% |
| Transfer to tax-exempt reserves | 689 | - | €274,067 | +€274,067 | |
| Profit (loss) for the period to be appropriated | 9905 | -€86,224 | €129,433 | +€215,657 |
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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 2 November 2026 via checked.be.