E.H.W.: 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.
E.H.W.
Largest movements
- Tangible fixed assets +€136,493
up €136,493 (+2,063%), from €6,616 to €143,109
of which Land and buildings: +€140,000
- Cash +€15,268
up €15,268 (+30.9%), from €49,426 to €64,694
mainly Debts after one year (+€126,729) and Net result for the year (+€22,884)
- Intangible fixed assets -€8,800
down €8,800 (-41.4%), from €21,267 to €12,467
- Debts after one year +€126,729
up €126,729, from €0 to €126,729
- Reserves +€14,280
up €14,280 (+38.8%), from €36,820 to €51,100
- Current portion of long-term debt +€4,214
up €4,214 (+122%), from €3,463 to €7,677
- Tax, wage and social debts +€3,979
up €3,979 (+35.0%), from €11,372 to €15,351
of which Taxes: +€4,479
- Other debts -€3,545
down €3,545 (-22.4%), from €15,796 to €12,251
- Gross operating margin +€21,517
up €21,517 (+45.1%), from €47,737 to €69,254
- Other operating charges +€20,230
up €20,230 (+4,466%), from €453 to €20,683
- Financial charges +€3,765
up €3,765 (+1,569%), from €240 to €4,005
- Depreciation -€1,064
down €1,064 (-8.0%), from €13,371 to €12,307
- Taxes +€1,014
up €1,014 (+11.8%), from €8,563 to €9,577
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 | €88,361 | €232,806 | +€144,445 | +163% |
| Fixed assets | 21/28 | €27,883 | €155,576 | +€127,693 | +458% |
| Intangible fixed assets | 21 | €21,267 | €12,467 | -€8,800 | -41.4% |
| Tangible fixed assets | 22/27 | €6,616 | €143,109 | +€136,493 | +2,063% |
| Land and buildings | 22 | - | €140,000 | +€140,000 | |
| Furniture and vehicles | 24 | €324 | €0 | -€324 | -100% |
| Other tangible fixed assets | 26 | €6,292 | €3,109 | -€3,183 | -50.6% |
| Current assets | 29/58 | €60,478 | €77,230 | +€16,752 | +27.7% |
| Amounts receivable within one year | 40/41 | €11,052 | €12,536 | +€1,484 | +13.4% |
| Trade receivables | 40 | €11,052 | €12,536 | +€1,484 | +13.4% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €49,426 | €64,694 | +€15,268 | +30.9% |
| Total equity and liabilities | 10/49 | €88,361 | €232,806 | +€144,445 | +163% |
| Equity | 10/15 | €55,425 | €69,709 | +€14,284 | +25.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,820 | €51,100 | +€14,280 | +38.8% |
| Distributable reserves | 133 | €36,820 | €51,100 | +€14,280 | +38.8% |
| Profit (loss) carried forward | 14 | €5 | €9 | +€4 | +76.2% |
| Amounts payable | 17/49 | €32,936 | €163,097 | +€130,161 | +395% |
| Amounts payable after more than one year | 17 | €0 | €126,729 | +€126,729 | |
| Financial debts | 170/4 | €0 | €126,729 | +€126,729 | |
| Amounts payable within one year | 42/48 | €32,936 | €36,367 | +€3,432 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €3,463 | €7,677 | +€4,214 | +122% |
| Trade debts | 44 | €2,305 | €1,088 | -€1,217 | -52.8% |
| Suppliers | 440/4 | €2,305 | €1,088 | -€1,217 | -52.8% |
| Taxes, remuneration and social security | 45 | €11,372 | €15,351 | +€3,979 | +35.0% |
| Taxes | 450/3 | €10,872 | €15,351 | +€4,479 | +41.2% |
| Remuneration and social security | 454/9 | €500 | €0 | -€500 | -100% |
| Other amounts payable | 47/48 | €15,796 | €12,251 | -€3,545 | -22.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,371 | €12,307 | -€1,064 | -8.0% |
| Other operating charges | 640/8 | €453 | €20,683 | +€20,230 | +4,466% |
| Gross operating margin | 9900 | €47,737 | €69,254 | +€21,517 | +45.1% |
| Operating profit (loss) | 9901 | €33,913 | €36,264 | +€2,351 | +6.9% |
| Financial income | 75/76B | €57 | €202 | +€145 | +254% |
| Recurring financial income | 75 | €57 | €202 | +€145 | +254% |
| Financial charges | 65/66B | €240 | €4,005 | +€3,765 | +1,569% |
| Recurring financial charges | 65 | €240 | €4,005 | +€3,765 | +1,569% |
| Profit (loss) for the period before taxes | 9903 | €33,731 | €32,461 | -€1,269 | -3.8% |
| Income taxes | 67/77 | €8,563 | €9,577 | +€1,014 | +11.8% |
| Profit (loss) for the period | 9904 | €25,167 | €22,884 | -€2,283 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,167 | €22,884 | -€2,283 | -9.1% |
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 24 October 2026 via checked.be.