Dr. F&H: what changed
Dr. F&H
Largest movements
- Cash -€70,672
down €70,672 (-78.6%), from €89,945 to €19,273
mainly Investment in fixed assets (net) (-€53,000) and Net result for the year (-€14,527)
- Tangible fixed assets +€45,872
up €45,872 (+11,426%), from €401 to €46,274
of which Furniture and vehicles: +€46,272
- Profit (loss) carried forward -€14,527
down €14,527 (-40.1%), from -€36,220 to -€50,747
- Other debts -€5,015
down €5,015 (-36.5%), from €13,733 to €8,718
- Trade debts -€4,227
down €4,227 (-69.7%), from €6,068 to €1,841
- Current portion of long-term debt -€1,127
no longer reported in 2025 (was €1,127)
- Gross operating margin +€12,068
up €12,068 (+69.0%), from -€17,497 to -€5,429
- Depreciation -€8,742
down €8,742 (-55.1%), from €15,870 to €7,128
- Other operating charges -€778
down €778 (-60.0%), from €1,298 to €520
- Financial charges -€459
down €459 (-38.7%), from €1,188 to €729
- Taxes +€355
up €355 (+96.3%), from €368 to €723
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 | €90,346 | €65,546 | -€24,800 | -27.4% |
| Fixed assets | 21/28 | €401 | €46,274 | +€45,872 | +11,426% |
| Tangible fixed assets | 22/27 | €401 | €46,274 | +€45,872 | +11,426% |
| Plant, machinery and equipment | 23 | €400 | €0 | -€400 | -100% |
| Furniture and vehicles | 24 | €2 | €46,274 | +€46,272 | +3,024,324% |
| Current assets | 29/58 | €89,945 | €19,273 | -€70,672 | -78.6% |
| Cash at bank and in hand | 54/58 | €89,945 | €19,273 | -€70,672 | -78.6% |
| Total equity and liabilities | 10/49 | €90,346 | €65,546 | -€24,800 | -27.4% |
| Equity | 10/15 | €69,050 | €54,522 | -€14,527 | -21.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €103,269 | €103,269 | = | 0.0% |
| Distributable reserves | 133 | €103,269 | €103,269 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,220 | -€50,747 | -€14,527 | -40.1% |
| Amounts payable | 17/49 | €21,297 | €11,024 | -€10,273 | -48.2% |
| Amounts payable within one year | 42/48 | €21,297 | €11,024 | -€10,273 | -48.2% |
| Current portion of amounts payable after more than one year | 42 | €1,127 | - | -€1,127 | |
| Trade debts | 44 | €6,068 | €1,841 | -€4,227 | -69.7% |
| Suppliers | 440/4 | €6,068 | €1,841 | -€4,227 | -69.7% |
| Taxes, remuneration and social security | 45 | €368 | €465 | +€97 | +26.3% |
| Taxes | 450/3 | €368 | €465 | +€97 | +26.3% |
| Other amounts payable | 47/48 | €13,733 | €8,718 | -€5,015 | -36.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,870 | €7,128 | -€8,742 | -55.1% |
| Other operating charges | 640/8 | €1,298 | €520 | -€778 | -60.0% |
| Gross operating margin | 9900 | -€17,497 | -€5,429 | +€12,068 | +69.0% |
| Operating profit (loss) | 9901 | -€34,664 | -€13,076 | +€21,588 | +62.3% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,188 | €729 | -€459 | -38.7% |
| Recurring financial charges | 65 | €1,188 | €729 | -€459 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | -€35,852 | -€13,805 | +€22,047 | +61.5% |
| Income taxes | 67/77 | €368 | €723 | +€355 | +96.3% |
| Profit (loss) for the period | 9904 | -€36,220 | -€14,527 | +€21,692 | +59.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,220 | -€14,527 | +€21,692 | +59.9% |
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 3 November 2026 via checked.be.