'T HEIKE: 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.
'T HEIKE
Largest movements
- Financial fixed assets -€159,643
down €159,643 (-100%), from €159,643 to €0
- Cash +€77,099
up €77,099 (+108%), from €71,129 to €148,228
mainly Investment in fixed assets (net) (+€176,891) and Stocks and contracts (+€25,198)
- Stocks and contracts -€25,198
down €25,198 (-100%), from €25,198 to €0
- Tangible fixed assets -€17,248
down €17,248 (-100%), from €17,248 to €0
of which Furniture and vehicles: -€13,476
- Receivables within one year -€3,651
down €3,651 (-23.4%), from €15,604 to €11,953
of which Other amounts receivable: -€3,521
- Profit (loss) carried forward -€93,780
down €93,780, from €89,003 to -€4,777
- Trade debts -€24,504
down €24,504 (-92.2%), from €26,573 to €2,068
- Current portion of long-term debt -€4,969
down €4,969 (-83.2%), from €5,969 to €1,000
- Tax, wage and social debts -€3,014
down €3,014 (-22.8%), from €13,228 to €10,214
of which Remuneration and social security: -€2,402
- Other debts -€3,000
down €3,000 (-85.8%), from €3,495 to €495
- Gross operating margin -€122,265
down €122,265, from €83,953 to -€38,312
- Financial income -€77,288
down €77,288 (-99.9%), from €77,395 to €107
- Financial charges +€58,508
up €58,508 (+896%), from €6,533 to €65,040
- Staff costs -€33,158
down €33,158 (-100%), from €33,158 to €0
- Write-downs -€31,664
down €31,664, from €15,832 to -€15,832
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 | €290,606 | €160,187 | -€130,419 | -44.9% |
| Fixed assets | 21/28 | €176,891 | €0 | -€176,891 | -100% |
| Tangible fixed assets | 22/27 | €17,248 | €0 | -€17,248 | -100% |
| Plant, machinery and equipment | 23 | €3,772 | €0 | -€3,772 | -100% |
| Furniture and vehicles | 24 | €13,476 | €0 | -€13,476 | -100% |
| Financial fixed assets | 28 | €159,643 | €0 | -€159,643 | -100% |
| Current assets | 29/58 | €113,715 | €160,187 | +€46,472 | +40.9% |
| Stocks and contracts in progress | 3 | €25,198 | €0 | -€25,198 | -100% |
| Stocks | 30/36 | €25,198 | €0 | -€25,198 | -100% |
| Amounts receivable within one year | 40/41 | €15,604 | €11,953 | -€3,651 | -23.4% |
| Trade receivables | 40 | €11,838 | €11,708 | -€130 | -1.1% |
| Other amounts receivable | 41 | €3,766 | €246 | -€3,521 | -93.5% |
| Cash at bank and in hand | 54/58 | €71,129 | €148,228 | +€77,099 | +108% |
| Deferred charges and accrued income | 490/1 | €1,783 | €6 | -€1,777 | -99.7% |
| Total equity and liabilities | 10/49 | €290,606 | €160,187 | -€130,419 | -44.9% |
| Equity | 10/15 | €230,190 | €136,410 | -€93,780 | -40.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €122,595 | €122,595 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €120,735 | €120,735 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,003 | -€4,777 | -€93,780 | |
| Amounts payable | 17/49 | €60,416 | €23,777 | -€36,639 | -60.6% |
| Amounts payable after more than one year | 17 | €11,000 | €10,000 | -€1,000 | -9.1% |
| Financial debts | 170/4 | €1,000 | €0 | -€1,000 | -100% |
| Other amounts payable | 178/9 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €49,265 | €13,777 | -€35,488 | -72.0% |
| Current portion of amounts payable after more than one year | 42 | €5,969 | €1,000 | -€4,969 | -83.2% |
| Trade debts | 44 | €26,573 | €2,068 | -€24,504 | -92.2% |
| Suppliers | 440/4 | €26,573 | €2,068 | -€24,504 | -92.2% |
| Taxes, remuneration and social security | 45 | €13,228 | €10,214 | -€3,014 | -22.8% |
| Taxes | 450/3 | €10,826 | €10,214 | -€612 | -5.7% |
| Remuneration and social security | 454/9 | €2,402 | €0 | -€2,402 | -100% |
| Other amounts payable | 47/48 | €3,495 | €495 | -€3,000 | -85.8% |
| Accrued charges and deferred income | 492/3 | €151 | €0 | -€151 | -100% |
| Non-recurring operating income | 76A | - | €407 | +€407 | |
| Remuneration, social security and pensions | 62 | €33,158 | €0 | -€33,158 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,171 | €0 | -€7,171 | -100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,832 | -€15,832 | -€31,664 | |
| Other operating charges | 640/8 | €2,177 | €1,020 | -€1,157 | -53.2% |
| Non-recurring operating charges | 66A | - | €5,155 | +€5,155 | |
| Gross operating margin | 9900 | €83,953 | -€38,312 | -€122,265 | |
| Operating profit (loss) | 9901 | €25,616 | -€28,655 | -€54,271 | |
| Financial income | 75/76B | €77,395 | €107 | -€77,288 | -99.9% |
| Recurring financial income | 75 | €77,395 | €107 | -€77,288 | -99.9% |
| Financial charges | 65/66B | €6,533 | €65,040 | +€58,508 | +896% |
| Recurring financial charges | 65 | €6,533 | €65,040 | +€58,508 | +896% |
| Profit (loss) for the period before taxes | 9903 | €96,478 | -€93,589 | -€190,066 | |
| Income taxes | 67/77 | €10,022 | €192 | -€9,830 | -98.1% |
| Profit (loss) for the period | 9904 | €86,456 | -€93,780 | -€180,237 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,456 | -€93,780 | -€180,237 |
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 19 October 2026 via checked.be.