'T HEMELHOF: 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 HEMELHOF
Largest movements
- Receivables within one year +€38,082
up €38,082 (+843%), from €4,515 to €42,597
of which Trade receivables: +€38,632
- Deferred charges and accrued income -€6,777
down €6,777 (-96.8%), from €6,999 to €222
- Tangible fixed assets -€5,157
down €5,157 (-57.5%), from €8,966 to €3,809
of which Land and buildings: -€6,450
- Stocks and contracts +€2,874
up €2,874 (+16.8%), from €17,142 to €20,016
- Cash +€1,781
up €1,781 (+8.6%), from €20,708 to €22,489
mainly Net result for the year (+€33,354) and Trade debts (+€20,218)
- Profit (loss) carried forward +€33,354
up €33,354 (+16.8%), from -€198,987 to -€165,633
- Other debts -€24,964
down €24,964 (-22.7%), from €109,769 to €84,805
- Trade debts +€20,218
up €20,218 (+39.6%), from €51,099 to €71,317
- Tax, wage and social debts +€10,304
up €10,304 (+126%), from €8,159 to €18,463
of which Taxes: +€11,074
- Current portion of long-term debt -€8,065
down €8,065 (-100%), from €8,065 to €0
- Gross operating margin +€54,500
up €54,500 (+197%), from €27,662 to €82,163
- Depreciation -€9,754
down €9,754 (-54.3%), from €17,947 to €8,193
- Staff costs -€6,108
down €6,108 (-16.4%), from €37,278 to €31,170
- Other operating charges +€1,298
up €1,298 (+23.5%), from €5,529 to €6,827
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 | €58,895 | €89,698 | +€30,803 | +52.3% |
| Fixed assets | 21/28 | €9,531 | €4,374 | -€5,157 | -54.1% |
| Tangible fixed assets | 22/27 | €8,966 | €3,809 | -€5,157 | -57.5% |
| Land and buildings | 22 | €6,450 | €0 | -€6,450 | -100% |
| Plant, machinery and equipment | 23 | €1,965 | €3,538 | +€1,573 | +80.1% |
| Furniture and vehicles | 24 | €552 | €272 | -€280 | -50.7% |
| Financial fixed assets | 28 | €564 | €564 | = | 0.0% |
| Current assets | 29/58 | €49,364 | €85,324 | +€35,960 | +72.8% |
| Stocks and contracts in progress | 3 | €17,142 | €20,016 | +€2,874 | +16.8% |
| Stocks | 30/36 | €17,142 | €20,016 | +€2,874 | +16.8% |
| Amounts receivable within one year | 40/41 | €4,515 | €42,597 | +€38,082 | +843% |
| Trade receivables | 40 | €3,930 | €42,562 | +€38,632 | +983% |
| Other amounts receivable | 41 | €586 | €35 | -€550 | -94.0% |
| Cash at bank and in hand | 54/58 | €20,708 | €22,489 | +€1,781 | +8.6% |
| Deferred charges and accrued income | 490/1 | €6,999 | €222 | -€6,777 | -96.8% |
| Total equity and liabilities | 10/49 | €58,895 | €89,698 | +€30,803 | +52.3% |
| Equity | 10/15 | -€119,312 | -€85,959 | +€33,354 | +28.0% |
| Contributions | 10/11 | €69,634 | €69,634 | = | 0.0% |
| Reserves | 13 | €10,041 | €10,041 | = | 0.0% |
| Distributable reserves | 133 | €10,041 | €10,041 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€198,987 | -€165,633 | +€33,354 | +16.8% |
| Amounts payable | 17/49 | €178,207 | €175,657 | -€2,551 | -1.4% |
| Amounts payable within one year | 42/48 | €177,091 | €174,584 | -€2,507 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €8,065 | €0 | -€8,065 | -100% |
| Trade debts | 44 | €51,099 | €71,317 | +€20,218 | +39.6% |
| Suppliers | 440/4 | €51,099 | €71,317 | +€20,218 | +39.6% |
| Taxes, remuneration and social security | 45 | €8,159 | €18,463 | +€10,304 | +126% |
| Taxes | 450/3 | €5,154 | €16,228 | +€11,074 | +215% |
| Remuneration and social security | 454/9 | €3,004 | €2,235 | -€770 | -25.6% |
| Other amounts payable | 47/48 | €109,769 | €84,805 | -€24,964 | -22.7% |
| Accrued charges and deferred income | 492/3 | €1,116 | €1,072 | -€44 | -3.9% |
| Remuneration, social security and pensions | 62 | €37,278 | €31,170 | -€6,108 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,947 | €8,193 | -€9,754 | -54.3% |
| Other operating charges | 640/8 | €5,529 | €6,827 | +€1,298 | +23.5% |
| Gross operating margin | 9900 | €27,662 | €82,163 | +€54,500 | +197% |
| Operating profit (loss) | 9901 | -€33,092 | €35,973 | +€69,065 | |
| Financial income | 75/76B | €56 | €3 | -€53 | -95.5% |
| Recurring financial income | 75 | €56 | €3 | -€53 | -95.5% |
| Financial charges | 65/66B | €1,889 | €2,609 | +€719 | +38.1% |
| Recurring financial charges | 65 | €1,889 | €2,609 | +€719 | +38.1% |
| Profit (loss) for the period before taxes | 9903 | -€34,926 | €33,366 | +€68,292 | |
| Income taxes | 67/77 | - | €13 | +€13 | |
| Profit (loss) for the period | 9904 | -€34,926 | €33,354 | +€68,280 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34,926 | €33,354 | +€68,280 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.