VAN DE HEFFINCK: 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.
VAN DE HEFFINCK
Largest movements
- Receivables after one year +€158,000
up €158,000 (+172%), from €92,000 to €250,000
- Receivables within one year -€133,077
down €133,077 (-70.6%), from €188,395 to €55,318
of which Other amounts receivable: -€68,970
- Tangible fixed assets -€109,892
down €109,892 (-9.5%), from €1.2m to €1.0m
of which Furniture and vehicles: -€81,469
- Cash +€55,045
up €55,045 (+9.3%), from €593,750 to €648,795
mainly Net result for the year (+€150,954) and Depreciation (+€143,992)
- Stocks and contracts -€48,626
down €48,626 (-7.4%), from €657,407 to €608,782
- Debts after one year -€74,324
down €74,324 (-28.0%), from €265,172 to €190,848
- Trade debts -€50,443
down €50,443 (-56.7%), from €88,956 to €38,512
- Reserves +€36,425
up €36,425 (+5.7%), from €642,617 to €679,043
of which Distributable reserves: +€36,425
- Gross operating margin -€585,765
down €585,765 (-55.7%), from €1.1m to €466,312
- Taxes -€147,935
down €147,935 (-67.6%), from €218,848 to €70,913
- Depreciation +€17,575
up €17,575 (+13.9%), from €126,417 to €143,992
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 | €2,758,659 | €2,673,809 | -€84,850 | -3.1% |
| Fixed assets | 21/28 | €1,158,887 | €1,048,995 | -€109,892 | -9.5% |
| Tangible fixed assets | 22/27 | €1,158,587 | €1,048,695 | -€109,892 | -9.5% |
| Land and buildings | 22 | €776,497 | €755,552 | -€20,945 | -2.7% |
| Plant, machinery and equipment | 23 | €74,080 | €66,602 | -€7,478 | -10.1% |
| Furniture and vehicles | 24 | €308,010 | €226,541 | -€81,469 | -26.5% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €1,599,772 | €1,624,814 | +€25,042 | +1.6% |
| Amounts receivable after more than one year | 29 | €92,000 | €250,000 | +€158,000 | +172% |
| Other amounts receivable | 291 | €92,000 | €250,000 | +€158,000 | +172% |
| Stocks and contracts in progress | 3 | €657,407 | €608,782 | -€48,626 | -7.4% |
| Stocks | 30/36 | €657,407 | €608,782 | -€48,626 | -7.4% |
| Amounts receivable within one year | 40/41 | €188,395 | €55,318 | -€133,077 | -70.6% |
| Trade receivables | 40 | €80,550 | €16,443 | -€64,107 | -79.6% |
| Other amounts receivable | 41 | €107,846 | €38,875 | -€68,970 | -64.0% |
| Current investments | 50/53 | €49,505 | €49,505 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €593,750 | €648,795 | +€55,045 | +9.3% |
| Deferred charges and accrued income | 490/1 | €18,714 | €12,414 | -€6,300 | -33.7% |
| Total equity and liabilities | 10/49 | €2,758,659 | €2,673,809 | -€84,850 | -3.1% |
| Equity | 10/15 | €2,290,546 | €2,326,971 | +€36,425 | +1.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €642,617 | €679,043 | +€36,425 | +5.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €584,508 | €620,934 | +€36,425 | +6.2% |
| Profit (loss) carried forward | 14 | €1,635,528 | €1,635,528 | = | 0.0% |
| Amounts payable | 17/49 | €468,113 | €346,838 | -€121,276 | -25.9% |
| Amounts payable after more than one year | 17 | €265,172 | €190,848 | -€74,324 | -28.0% |
| Financial debts | 170/4 | €265,172 | €190,848 | -€74,324 | -28.0% |
| Amounts payable within one year | 42/48 | €198,222 | €145,830 | -€52,392 | -26.4% |
| Current portion of amounts payable after more than one year | 42 | €74,167 | €74,324 | +€157 | +0.2% |
| Trade debts | 44 | €88,956 | €38,512 | -€50,443 | -56.7% |
| Suppliers | 440/4 | €88,956 | €38,512 | -€50,443 | -56.7% |
| Taxes, remuneration and social security | 45 | €27,131 | €25,984 | -€1,147 | -4.2% |
| Taxes | 450/3 | €18,383 | €20,139 | +€1,757 | +9.6% |
| Remuneration and social security | 454/9 | €8,749 | €5,845 | -€2,904 | -33.2% |
| Other amounts payable | 47/48 | €7,968 | €7,009 | -€959 | -12.0% |
| Accrued charges and deferred income | 492/3 | €4,719 | €10,160 | +€5,440 | +115% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €81,107 | €90,709 | +€9,602 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,417 | €143,992 | +€17,575 | +13.9% |
| Other operating charges | 640/8 | €5,712 | €6,839 | +€1,127 | +19.7% |
| Gross operating margin | 9900 | €1,052,077 | €466,312 | -€585,765 | -55.7% |
| Operating profit (loss) | 9901 | €838,842 | €224,772 | -€614,069 | -73.2% |
| Financial income | 75/76B | €9,966 | €6,741 | -€3,225 | -32.4% |
| Recurring financial income | 75 | €9,966 | €6,741 | -€3,225 | -32.4% |
| Financial charges | 65/66B | €10,347 | €9,647 | -€701 | -6.8% |
| Recurring financial charges | 65 | €10,347 | €9,647 | -€701 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €838,461 | €221,867 | -€616,594 | -73.5% |
| Income taxes | 67/77 | €218,848 | €70,913 | -€147,935 | -67.6% |
| Profit (loss) for the period | 9904 | €619,612 | €150,954 | -€468,659 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €619,612 | €150,954 | -€468,659 | -75.6% |
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 24 October 2026 via checked.be.