VAN HEIRSEELE-SCHWEIGER: what changed
VAN HEIRSEELE-SCHWEIGER
Largest movements
- Receivables within one year +€34,475
up €34,475 (+138%), from €24,908 to €59,383
of which Trade receivables: +€18,173
- Cash -€21,012
down €21,012 (-54.7%), from €38,406 to €17,393
mainly Receivables within one year (-€34,475) and Receivables after one year (-€4,359)
- Receivables after one year +€4,359
up €4,359 (+50.2%), from €8,677 to €13,036
- Stocks and contracts -€3,577
down €3,577 (-5.7%), from €62,313 to €58,736
- Reserves +€14,613
up €14,613 (+14.1%), from €103,859 to €118,472
of which Distributable reserves: +€14,613
- Short-term financial debts +€4,010
new in 2025: €4,010
- Tax, wage and social debts -€2,903
down €2,903 (-35.5%), from €8,168 to €5,265
- Other debts -€1,940
no longer reported in 2025 (was €1,940)
- Gross operating margin -€6,881
down €6,881 (-26.0%), from €26,423 to €19,542
- Taxes -€1,511
down €1,511 (-26.9%), from €5,610 to €4,099
- Financial income +€569
up €569 (+66.1%), from €861 to €1,429
- Financial charges -€281
down €281 (-66.9%), from €420 to €139
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €136,620 | €151,603 | +€14,983 | +11.0% |
| Fixed assets | 21/28 | €1,295 | €573 | -€721 | -55.7% |
| Tangible fixed assets | 22/27 | €795 | €73 | -€721 | -90.8% |
| Plant, machinery and equipment | 23 | €795 | €73 | -€721 | -90.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €135,325 | €151,030 | +€15,704 | +11.6% |
| Amounts receivable after more than one year | 29 | €8,677 | €13,036 | +€4,359 | +50.2% |
| Other amounts receivable | 291 | €8,677 | €13,036 | +€4,359 | +50.2% |
| Stocks and contracts in progress | 3 | €62,313 | €58,736 | -€3,577 | -5.7% |
| Stocks | 30/36 | €62,313 | €58,736 | -€3,577 | -5.7% |
| Amounts receivable within one year | 40/41 | €24,908 | €59,383 | +€34,475 | +138% |
| Trade receivables | 40 | €4,865 | €23,037 | +€18,173 | +374% |
| Other amounts receivable | 41 | €20,043 | €36,346 | +€16,303 | +81.3% |
| Cash at bank and in hand | 54/58 | €38,406 | €17,393 | -€21,012 | -54.7% |
| Deferred charges and accrued income | 490/1 | €1,022 | €2,482 | +€1,460 | +143% |
| Total equity and liabilities | 10/49 | €136,620 | €151,603 | +€14,983 | +11.0% |
| Equity | 10/15 | €122,459 | €137,072 | +€14,613 | +11.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,859 | €118,472 | +€14,613 | +14.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €101,999 | €116,612 | +€14,613 | +14.3% |
| Amounts payable | 17/49 | €14,161 | €14,531 | +€370 | +2.6% |
| Amounts payable within one year | 42/48 | €14,131 | €14,488 | +€357 | +2.5% |
| Financial debts | 43 | - | €4,010 | +€4,010 | |
| Credit institutions | 430/8 | - | €4,010 | +€4,010 | |
| Trade debts | 44 | €4,023 | €5,213 | +€1,191 | +29.6% |
| Suppliers | 440/4 | €4,023 | €5,213 | +€1,191 | +29.6% |
| Taxes, remuneration and social security | 45 | €8,168 | €5,265 | -€2,903 | -35.5% |
| Taxes | 450/3 | €8,168 | €5,265 | -€2,903 | -35.5% |
| Other amounts payable | 47/48 | €1,940 | - | -€1,940 | |
| Accrued charges and deferred income | 492/3 | €30 | €42 | +€13 | +42.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €714 | €721 | +€7 | +1.0% |
| Other operating charges | 640/8 | €1,304 | €1,399 | +€95 | +7.3% |
| Gross operating margin | 9900 | €26,423 | €19,542 | -€6,881 | -26.0% |
| Operating profit (loss) | 9901 | €24,405 | €17,422 | -€6,983 | -28.6% |
| Financial income | 75/76B | €861 | €1,429 | +€569 | +66.1% |
| Recurring financial income | 75 | €861 | €1,429 | +€569 | +66.1% |
| Financial charges | 65/66B | €420 | €139 | -€281 | -66.9% |
| Recurring financial charges | 65 | €420 | €139 | -€281 | -66.9% |
| Profit (loss) for the period before taxes | 9903 | €24,845 | €18,712 | -€6,133 | -24.7% |
| Income taxes | 67/77 | €5,610 | €4,099 | -€1,511 | -26.9% |
| Profit (loss) for the period | 9904 | €19,235 | €14,613 | -€4,622 | -24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,235 | €14,613 | -€4,622 | -24.0% |
Next steps
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 4 November 2026 via checked.be.