3HE: 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.
3HE
Largest movements
- Intangible fixed assets -€125,625
down €125,625 (-89.7%), from €140,125 to €14,500
- Tangible fixed assets +€67,759
up €67,759 (+60.9%), from €111,235 to €178,994
of which Other tangible fixed assets: +€59,335
- Receivables within one year +€38,209
up €38,209 (+344%), from €11,120 to €49,328
of which Trade receivables: +€22,923
- Cash -€35,395
down €35,395 (-19.1%), from €185,129 to €149,734
mainly Other debts (-€125,872) and Investment in fixed assets (net) (-€114,827)
- Deferred charges and accrued income -€11,389
down €11,389 (-14.6%), from €78,052 to €66,663
- Other debts -€125,872
down €125,872 (-94.2%), from €133,578 to €7,706
- Trade debts +€89,616
up €89,616 (+201%), from €44,553 to €134,169
- Current portion of long-term debt -€65,745
down €65,745 (-72.9%), from €90,192 to €24,448
- Debts after one year +€48,243
up €48,243 (+154%), from €31,395 to €79,638
- Reserves -€23,884
down €23,884 (-29.7%), from €80,440 to €56,556
- Gross operating margin +€546,250
up €546,250 (+309%), from €176,767 to €723,017
- Staff costs +€213,564
up €213,564 (+58.9%), from €362,434 to €575,998
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 | €529,161 | €472,019 | -€57,142 | -10.8% |
| Fixed assets | 21/28 | €254,860 | €206,294 | -€48,566 | -19.1% |
| Intangible fixed assets | 21 | €140,125 | €14,500 | -€125,625 | -89.7% |
| Tangible fixed assets | 22/27 | €111,235 | €178,994 | +€67,759 | +60.9% |
| Land and buildings | 22 | €67,076 | €50,307 | -€16,769 | -25.0% |
| Plant, machinery and equipment | 23 | €863 | €2,769 | +€1,906 | +221% |
| Furniture and vehicles | 24 | €28,998 | €52,285 | +€23,287 | +80.3% |
| Other tangible fixed assets | 26 | €14,298 | €73,633 | +€59,335 | +415% |
| Financial fixed assets | 28 | €3,500 | €12,800 | +€9,300 | +266% |
| Current assets | 29/58 | €274,301 | €265,725 | -€8,576 | -3.1% |
| Amounts receivable within one year | 40/41 | €11,120 | €49,328 | +€38,209 | +344% |
| Trade receivables | 40 | €1,152 | €24,074 | +€22,923 | +1,991% |
| Other amounts receivable | 41 | €9,968 | €25,254 | +€15,286 | +153% |
| Cash at bank and in hand | 54/58 | €185,129 | €149,734 | -€35,395 | -19.1% |
| Deferred charges and accrued income | 490/1 | €78,052 | €66,663 | -€11,389 | -14.6% |
| Total equity and liabilities | 10/49 | €529,161 | €472,019 | -€57,142 | -10.8% |
| Equity | 10/15 | €180,440 | €156,556 | -€23,884 | -13.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €80,440 | €56,556 | -€23,884 | -29.7% |
| Distributable reserves | 133 | €80,440 | €56,556 | -€23,884 | -29.7% |
| Amounts payable | 17/49 | €348,721 | €315,463 | -€33,258 | -9.5% |
| Amounts payable after more than one year | 17 | €31,395 | €79,638 | +€48,243 | +154% |
| Financial debts | 170/4 | €31,395 | €79,638 | +€48,243 | +154% |
| Amounts payable within one year | 42/48 | €317,326 | €234,342 | -€82,984 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €90,192 | €24,448 | -€65,745 | -72.9% |
| Trade debts | 44 | €44,553 | €134,169 | +€89,616 | +201% |
| Suppliers | 440/4 | €44,553 | €134,169 | +€89,616 | +201% |
| Advances received on contracts in progress | 46 | - | €827 | +€827 | |
| Taxes, remuneration and social security | 45 | €49,002 | €67,192 | +€18,189 | +37.1% |
| Taxes | 450/3 | €13,719 | €11,416 | -€2,303 | -16.8% |
| Remuneration and social security | 454/9 | €35,283 | €55,776 | +€20,493 | +58.1% |
| Other amounts payable | 47/48 | €133,578 | €7,706 | -€125,872 | -94.2% |
| Accrued charges and deferred income | 492/3 | €0 | €1,482 | +€1,482 | |
| Non-recurring operating income | 76A | €100,000 | €0 | -€100,000 | -100% |
| Remuneration, social security and pensions | 62 | €362,434 | €575,998 | +€213,564 | +58.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,299 | €163,392 | +€7,094 | +4.5% |
| Other operating charges | 640/8 | €2,199 | €2,661 | +€461 | +21.0% |
| Gross operating margin | 9900 | €176,767 | €723,017 | +€546,250 | +309% |
| Operating profit (loss) | 9901 | -€344,166 | -€19,035 | +€325,131 | +94.5% |
| Financial income | 75/76B | €90 | €391 | +€301 | +333% |
| Recurring financial income | 75 | €90 | €391 | +€301 | +333% |
| Financial charges | 65/66B | €9,469 | €5,240 | -€4,229 | -44.7% |
| Recurring financial charges | 65 | €9,469 | €5,240 | -€4,229 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | -€353,544 | -€23,884 | +€329,661 | +93.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€353,544 | -€23,884 | +€329,661 | +93.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€353,544 | -€23,884 | +€329,661 | +93.2% |
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 17 October 2026 via checked.be.