DH MANAGEMENT: 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.
DH MANAGEMENT
Largest movements
- Cash +€12,022
up €12,022 (+53.2%), from €22,592 to €34,614
mainly Depreciation (+€21,091) and Net result for the year (+€18,546)
- Tangible fixed assets -€10,562
down €10,562 (-3.1%), from €346,024 to €335,462
of which Furniture and vehicles: -€5,395
- Debts after one year -€19,203
down €19,203 (-6.6%), from €290,038 to €270,835
- Reserves +€18,546
up €18,546 (+2,991%), from €620 to €19,166
of which Distributable reserves: +€18,546
- Tax, wage and social debts +€9,300
up €9,300 (+254%), from €3,660 to €12,960
- Other debts -€5,533
down €5,533 (-36.9%), from €14,980 to €9,447
- Gross operating margin +€44,526
up €44,526 (+316%), from €14,098 to €58,624
- Depreciation +€11,534
up €11,534 (+121%), from €9,557 to €21,091
- Financial charges +€11,253
up €11,253 (+2,827%), from €398 to €11,651
- Taxes +€3,076
up €3,076 (+265%), from €1,162 to €4,238
- Other operating charges +€2,055
up €2,055 (+197%), from €1,043 to €3,098
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 | €373,853 | €377,570 | +€3,717 | +1.0% |
| Fixed assets | 21/28 | €346,024 | €335,462 | -€10,562 | -3.1% |
| Tangible fixed assets | 22/27 | €346,024 | €335,462 | -€10,562 | -3.1% |
| Land and buildings | 22 | €293,123 | €288,499 | -€4,624 | -1.6% |
| Plant, machinery and equipment | 23 | €6,939 | €5,165 | -€1,774 | -25.6% |
| Furniture and vehicles | 24 | €37,489 | €32,094 | -€5,395 | -14.4% |
| Other tangible fixed assets | 26 | €8,473 | €9,704 | +€1,231 | +14.5% |
| Current assets | 29/58 | €27,829 | €42,108 | +€14,279 | +51.3% |
| Cash at bank and in hand | 54/58 | €22,592 | €34,614 | +€12,022 | +53.2% |
| Deferred charges and accrued income | 490/1 | €5,237 | €7,494 | +€2,257 | +43.1% |
| Total equity and liabilities | 10/49 | €373,853 | €377,570 | +€3,717 | +1.0% |
| Equity | 10/15 | €46,172 | €63,052 | +€16,880 | +36.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €620 | €19,166 | +€18,546 | +2,991% |
| Non-distributable reserves | 130/1 | €620 | €620 | = | 0.0% |
| Reserves not available under the articles | 1311 | €620 | €620 | = | 0.0% |
| Distributable reserves | 133 | - | €18,546 | +€18,546 | |
| Profit (loss) carried forward | 14 | €39,352 | €37,686 | -€1,666 | -4.2% |
| Amounts payable | 17/49 | €327,681 | €314,518 | -€13,163 | -4.0% |
| Amounts payable after more than one year | 17 | €290,038 | €270,835 | -€19,203 | -6.6% |
| Financial debts | 170/4 | €290,038 | €270,835 | -€19,203 | -6.6% |
| Amounts payable within one year | 42/48 | €37,508 | €42,903 | +€5,395 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €18,806 | €19,203 | +€397 | +2.1% |
| Trade debts | 44 | €62 | €1,293 | +€1,231 | +1,985% |
| Suppliers | 440/4 | €62 | €1,293 | +€1,231 | +1,985% |
| Taxes, remuneration and social security | 45 | €3,660 | €12,960 | +€9,300 | +254% |
| Taxes | 450/3 | €3,660 | €12,960 | +€9,300 | +254% |
| Other amounts payable | 47/48 | €14,980 | €9,447 | -€5,533 | -36.9% |
| Accrued charges and deferred income | 492/3 | €135 | €780 | +€645 | +478% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,557 | €21,091 | +€11,534 | +121% |
| Other operating charges | 640/8 | €1,043 | €3,098 | +€2,055 | +197% |
| Gross operating margin | 9900 | €14,098 | €58,624 | +€44,526 | +316% |
| Operating profit (loss) | 9901 | €3,498 | €34,435 | +€30,937 | +884% |
| Financial charges | 65/66B | €398 | €11,651 | +€11,253 | +2,827% |
| Recurring financial charges | 65 | €398 | €11,651 | +€11,253 | +2,827% |
| Profit (loss) for the period before taxes | 9903 | €3,100 | €22,784 | +€19,684 | +635% |
| Income taxes | 67/77 | €1,162 | €4,238 | +€3,076 | +265% |
| Profit (loss) for the period | 9904 | €1,938 | €18,546 | +€16,608 | +857% |
| Profit (loss) for the period to be appropriated | 9905 | €1,938 | €18,546 | +€16,608 | +857% |
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 28 October 2026 via checked.be.