Studiebureau Werner Heirman: what changed
What changed
Studiebureau Werner Heirman
filed annual accounts (NBB)
Net result for the year
€14,497
2024 · €13,642+€855
Equity
€396,080
2024 · €381,583+€14,497
Cash
€92,039
2024 · €139,799-€47,760
Balance sheet total
€436,080
2024 · €446,245-€10,165
Largest movements
Assets
- Cash -€47,760
down €47,760 (-34.2%), from €139,799 to €92,039
mainly Current investments (-€24,985) and Investment in fixed assets (net) (-€22,091)
- Current investments +€24,985
up €24,985 (+10.0%), from €250,000 to €274,985
- Tangible fixed assets +€20,802
up €20,802 (+865%), from €2,405 to €23,206
- Receivables after one year -€10,000
down €10,000 (-50.0%), from €20,000 to €10,000
Equity and liabilities
- Provisions -€20,000
down €20,000 (-33.3%), from €60,000 to €40,000
- Reserves +€14,497
up €14,497 (+4.0%), from €362,341 to €376,838
Income statement
- Financial income +€9,355
new in 2025: €9,355
- Gross operating margin -€3,992
down €3,992 (-1,258%), from -€317 to -€4,309
- Provisions +€1,984
up €1,984 (+9.0%), from -€21,984 to -€20,000
- Depreciation +€1,289
new in 2025: €1,289
- Financial charges +€799
up €799 (+289%), from €276 to €1,075
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
€13,642
Gross operating margin
-€3,992
Depreciation
-€1,289
Provisions
-€1,984
Other operating charges
-€38
Financial income
+€9,355
Financial charges
-€799
Taxes
-€399
Result 2025
€14,497
raises the resultlowers the result
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
-€684
Investment
-€47,076
Financing
€0
Cash 2024
€139,799
From operations (derived)
-€684
Net result for the year
+€14,497
Depreciation
+€1,289
Receivables after one year
+€10,000
Receivables within one year
-€1,805
Deferred charges and accrued income
-€3
Provisions
-€20,000
Tax, wage and social debts
-€4,402
Other debts
-€260
Investment (derived)
-€47,076
Investment in fixed assets (net)
-€22,091
Current investments
-€24,985
Cash 2025
€92,039
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €446,245 | €436,080 | -€10,165 | -2.3% |
| Fixed assets | 21/28 | €19,757 | €40,559 | +€20,802 | +105% |
| Tangible fixed assets | 22/27 | €2,405 | €23,206 | +€20,802 | +865% |
| Land and buildings | 22 | €2,405 | €23,206 | +€20,802 | +865% |
| Financial fixed assets | 28 | €17,353 | €17,353 | = | 0.0% |
| Current assets | 29/58 | €426,488 | €395,521 | -€30,967 | -7.3% |
| Amounts receivable after more than one year | 29 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Other amounts receivable | 291 | €20,000 | €10,000 | -€10,000 | -50.0% |
| Amounts receivable within one year | 40/41 | €16,634 | €18,438 | +€1,805 | +10.9% |
| Other amounts receivable | 41 | €16,634 | €18,438 | +€1,805 | +10.9% |
| Current investments | 50/53 | €250,000 | €274,985 | +€24,985 | +10.0% |
| Cash at bank and in hand | 54/58 | €139,799 | €92,039 | -€47,760 | -34.2% |
| Deferred charges and accrued income | 490/1 | €56 | €59 | +€3 | +6.0% |
| Total equity and liabilities | 10/49 | €446,245 | €436,080 | -€10,165 | -2.3% |
| Equity | 10/15 | €381,583 | €396,080 | +€14,497 | +3.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €362,341 | €376,838 | +€14,497 | +4.0% |
| Distributable reserves | 133 | €362,341 | €376,838 | +€14,497 | +4.0% |
| Profit (loss) carried forward | 14 | €650 | €650 | = | 0.0% |
| Provisions and deferred taxes | 16 | €60,000 | €40,000 | -€20,000 | -33.3% |
| Provisions for liabilities and charges | 160/5 | €60,000 | €40,000 | -€20,000 | -33.3% |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €60,000 | €40,000 | -€20,000 | -33.3% |
| Amounts payable | 17/49 | €4,662 | €0 | -€4,662 | -100% |
| Amounts payable within one year | 42/48 | €4,662 | €0 | -€4,662 | -100% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €4,402 | €0 | -€4,402 | -100% |
| Taxes | 450/3 | €4,402 | €0 | -€4,402 | -100% |
| Other amounts payable | 47/48 | €260 | €0 | -€260 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,289 | +€1,289 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€21,984 | -€20,000 | +€1,984 | +9.0% |
| Other operating charges | 640/8 | €1,381 | €1,420 | +€38 | +2.8% |
| Gross operating margin | 9900 | -€317 | -€4,309 | -€3,992 | -1,258% |
| Operating profit (loss) | 9901 | €20,285 | €12,982 | -€7,303 | -36.0% |
| Financial income | 75/76B | - | €9,355 | +€9,355 | |
| Recurring financial income | 75 | - | €9,355 | +€9,355 | |
| Financial charges | 65/66B | €276 | €1,075 | +€799 | +289% |
| Recurring financial charges | 65 | €276 | €1,075 | +€799 | +289% |
| Profit (loss) for the period before taxes | 9903 | €20,009 | €21,262 | +€1,254 | +6.3% |
| Income taxes | 67/77 | €6,366 | €6,765 | +€399 | +6.3% |
| Profit (loss) for the period | 9904 | €13,642 | €14,497 | +€855 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,642 | €14,497 | +€855 | +6.3% |
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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 3 November 2026 via checked.be.