TF HEKWERKEN: 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.
TF HEKWERKEN
Largest movements
- Stocks and contracts +€23,036
up €23,036 (+15.6%), from €147,464 to €170,500
- Tangible fixed assets +€14,237
up €14,237 (+3.1%), from €464,431 to €478,668
of which Plant, machinery and equipment: +€32,228
- Receivables within one year -€13,223
down €13,223 (-14.6%), from €90,799 to €77,576
of which Trade receivables: -€10,841
- Deferred charges and accrued income -€10,570
down €10,570 (-100%), from €10,570 to €0
- Trade debts -€53,050
down €53,050 (-50.1%), from €105,820 to €52,770
- Debts after one year +€33,031
up €33,031 (+14.5%), from €227,478 to €260,508
- Reserves +€21,671
up €21,671 (+6.4%), from €339,454 to €361,125
of which Distributable reserves: +€21,671
- Current portion of long-term debt +€8,546
up €8,546 (+24.1%), from €35,398 to €43,945
- Gross operating margin +€22,441
up €22,441 (+17.0%), from €132,396 to €154,837
- Taxes +€21,178
up €21,178 (+1,347%), from €1,572 to €22,750
- Financial charges -€13,151
down €13,151 (-42.2%), from €31,194 to €18,043
of which Non-recurring financial charges: -€15,575
- Depreciation -€3,022
down €3,022 (-3.5%), from €85,580 to €82,558
- Other operating charges -€2,176
down €2,176 (-18.1%), from €12,029 to €9,853
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 | €770,021 | €785,253 | +€15,232 | +2.0% |
| Fixed assets | 21/28 | €464,431 | €478,668 | +€14,237 | +3.1% |
| Tangible fixed assets | 22/27 | €464,431 | €478,668 | +€14,237 | +3.1% |
| Land and buildings | 22 | €381,303 | €368,047 | -€13,256 | -3.5% |
| Plant, machinery and equipment | 23 | €68,320 | €100,548 | +€32,228 | +47.2% |
| Furniture and vehicles | 24 | €14,808 | €10,074 | -€4,735 | -32.0% |
| Current assets | 29/58 | €305,590 | €306,584 | +€994 | +0.3% |
| Stocks and contracts in progress | 3 | €147,464 | €170,500 | +€23,036 | +15.6% |
| Stocks | 30/36 | €147,464 | €170,500 | +€23,036 | +15.6% |
| Amounts receivable within one year | 40/41 | €90,799 | €77,576 | -€13,223 | -14.6% |
| Trade receivables | 40 | €71,248 | €60,406 | -€10,841 | -15.2% |
| Other amounts receivable | 41 | €19,551 | €17,169 | -€2,382 | -12.2% |
| Cash at bank and in hand | 54/58 | €56,757 | €58,508 | +€1,751 | +3.1% |
| Deferred charges and accrued income | 490/1 | €10,570 | €0 | -€10,570 | -100% |
| Total equity and liabilities | 10/49 | €770,021 | €785,253 | +€15,232 | +2.0% |
| Equity | 10/15 | €358,154 | €379,825 | +€21,671 | +6.1% |
| Contributions | 10/11 | €18,700 | €18,700 | = | 0.0% |
| Reserves | 13 | €339,454 | €361,125 | +€21,671 | +6.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €337,594 | €359,265 | +€21,671 | +6.4% |
| Amounts payable | 17/49 | €411,867 | €405,428 | -€6,439 | -1.6% |
| Amounts payable after more than one year | 17 | €227,478 | €260,508 | +€33,031 | +14.5% |
| Financial debts | 170/4 | €227,478 | €260,508 | +€33,031 | +14.5% |
| Amounts payable within one year | 42/48 | €182,907 | €144,919 | -€37,987 | -20.8% |
| Current portion of amounts payable after more than one year | 42 | €35,398 | €43,945 | +€8,546 | +24.1% |
| Financial debts | 43 | €9,000 | €9,000 | = | 0.0% |
| Credit institutions | 430/8 | €9,000 | €9,000 | = | 0.0% |
| Trade debts | 44 | €105,820 | €52,770 | -€53,050 | -50.1% |
| Suppliers | 440/4 | €105,820 | €52,770 | -€53,050 | -50.1% |
| Taxes, remuneration and social security | 45 | €2,243 | €3,259 | +€1,016 | +45.3% |
| Taxes | 450/3 | €1,317 | €3,259 | +€1,942 | +148% |
| Remuneration and social security | 454/9 | €926 | €0 | -€926 | -100% |
| Other amounts payable | 47/48 | €30,446 | €35,946 | +€5,500 | +18.1% |
| Accrued charges and deferred income | 492/3 | €1,483 | €0 | -€1,483 | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,580 | €82,558 | -€3,022 | -3.5% |
| Other operating charges | 640/8 | €12,029 | €9,853 | -€2,176 | -18.1% |
| Gross operating margin | 9900 | €132,396 | €154,837 | +€22,441 | +17.0% |
| Operating profit (loss) | 9901 | €34,787 | €62,426 | +€27,639 | +79.5% |
| Financial income | 75/76B | €2 | €38 | +€37 | +2,105% |
| Recurring financial income | 75 | €2 | €38 | +€37 | +2,105% |
| Financial charges | 65/66B | €31,194 | €18,043 | -€13,151 | -42.2% |
| Recurring financial charges | 65 | €15,454 | €17,878 | +€2,424 | +15.7% |
| Non-recurring financial charges | 66B | €15,740 | €165 | -€15,575 | -99.0% |
| Profit (loss) for the period before taxes | 9903 | €3,594 | €44,421 | +€40,827 | +1,136% |
| Income taxes | 67/77 | €1,572 | €22,750 | +€21,178 | +1,347% |
| Profit (loss) for the period | 9904 | €2,022 | €21,671 | +€19,649 | +972% |
| Profit (loss) for the period to be appropriated | 9905 | €2,022 | €21,671 | +€19,649 | +972% |
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.