DHE SOLAR: 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.
DHE SOLAR
Largest movements
- Cash -€58,638
down €58,638 (-32.2%), from €181,988 to €123,350
mainly Net result for the year (-€63,987) and Contributions, distributions and other (-€44,183)
- Tangible fixed assets -€13,748
down €13,748 (-5.8%), from €237,544 to €223,796
of which Land and buildings: -€10,800
- Receivables within one year -€6,510
down €6,510 (-7.8%), from €83,819 to €77,309
of which Trade receivables: -€8,760
- Profit (loss) carried forward -€108,170
down €108,170 (-36.5%), from €296,310 to €188,139
- Other debts +€17,522
up €17,522 (+946%), from €1,853 to €19,375
- Trade debts +€13,140
up €13,140 (+369%), from €3,565 to €16,705
- Debts after one year -€7,076
down €7,076 (-4.2%), from €169,661 to €162,586
- Gross operating margin -€27,224
down €27,224 (-207%), from -€13,147 to -€40,371
- Financial charges -€3,934
down €3,934 (-30.2%), from €13,012 to €9,078
- Depreciation -€1,363
down €1,363 (-9.0%), from €15,111 to €13,748
- Other operating charges -€417
down €417 (-13.5%), from €3,086 to €2,669
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 | €514,088 | €430,309 | -€83,779 | -16.3% |
| Fixed assets | 21/28 | €237,544 | €223,796 | -€13,748 | -5.8% |
| Tangible fixed assets | 22/27 | €237,544 | €223,796 | -€13,748 | -5.8% |
| Land and buildings | 22 | €226,981 | €216,181 | -€10,800 | -4.8% |
| Plant, machinery and equipment | 23 | €8,755 | €6,446 | -€2,308 | -26.4% |
| Furniture and vehicles | 24 | €1,809 | €1,169 | -€640 | -35.4% |
| Current assets | 29/58 | €276,544 | €206,513 | -€70,031 | -25.3% |
| Amounts receivable within one year | 40/41 | €83,819 | €77,309 | -€6,510 | -7.8% |
| Trade receivables | 40 | €25,114 | €16,355 | -€8,760 | -34.9% |
| Other amounts receivable | 41 | €58,705 | €60,955 | +€2,249 | +3.8% |
| Cash at bank and in hand | 54/58 | €181,988 | €123,350 | -€58,638 | -32.2% |
| Deferred charges and accrued income | 490/1 | €10,737 | €5,853 | -€4,883 | -45.5% |
| Total equity and liabilities | 10/49 | €514,088 | €430,309 | -€83,779 | -16.3% |
| Equity | 10/15 | €331,310 | €223,139 | -€108,170 | -32.6% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €296,310 | €188,139 | -€108,170 | -36.5% |
| Amounts payable | 17/49 | €182,778 | €207,169 | +€24,391 | +13.3% |
| Amounts payable after more than one year | 17 | €169,661 | €162,586 | -€7,076 | -4.2% |
| Financial debts | 170/4 | €169,661 | €162,586 | -€7,076 | -4.2% |
| Amounts payable within one year | 42/48 | €11,934 | €43,111 | +€31,177 | +261% |
| Current portion of amounts payable after more than one year | 42 | €6,516 | €7,030 | +€514 | +7.9% |
| Trade debts | 44 | €3,565 | €16,705 | +€13,140 | +369% |
| Suppliers | 440/4 | €3,565 | €16,705 | +€13,140 | +369% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,853 | €19,375 | +€17,522 | +946% |
| Accrued charges and deferred income | 492/3 | €1,183 | €1,473 | +€290 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,111 | €13,748 | -€1,363 | -9.0% |
| Other operating charges | 640/8 | €3,086 | €2,669 | -€417 | -13.5% |
| Gross operating margin | 9900 | -€13,147 | -€40,371 | -€27,224 | -207% |
| Operating profit (loss) | 9901 | -€31,345 | -€56,789 | -€25,444 | -81.2% |
| Financial income | 75/76B | €2,346 | €2,039 | -€307 | -13.1% |
| Recurring financial income | 75 | €2,346 | €2,039 | -€307 | -13.1% |
| Financial charges | 65/66B | €13,012 | €9,078 | -€3,934 | -30.2% |
| Recurring financial charges | 65 | €13,012 | €9,078 | -€3,934 | -30.2% |
| Profit (loss) for the period before taxes | 9903 | -€42,010 | -€63,828 | -€21,817 | -51.9% |
| Income taxes | 67/77 | €171 | €160 | -€11 | -6.2% |
| Profit (loss) for the period | 9904 | -€42,181 | -€63,987 | -€21,807 | -51.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€42,181 | -€63,987 | -€21,807 | -51.7% |
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 19 October 2026 via checked.be.