EHAD: what changed
Two fiscal 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.
EHAD
Largest movements
- Current investments +€25.3m
new in 2024: €25.3m
- Cash +€3.0m
up €3.0m (+188.6%), from €1.6m to €4.5m
mainly Net result for the year (+€28.4m) and Investment in fixed assets (net) (+€1.9m)
- Financial fixed assets -€1.9m
down €1.9m (-98.7%), from €2.0m to €26,230
- Receivables within one year +€819,236
up €819,236 (+88.7%), from €923,918 to €1.7m
of which Other amounts receivable: +€867,434
- Profit (loss) carried forward +€28.4m
up €28.4m (+807.9%), from €3.5m to €32.0m
- Reserves -€973,617
down €973,617 (-25.2%), from €3.9m to €2.9m
of which Distributable reserves: -€973,617
- Tax, wage and social debts -€501,752
down €501,752 (-99.3%), from €505,149 to €3,398
- Financial income +€27.9m
up €27.9m (+2116.2%), from €1.3m to €29.2m
of which Non-recurring financial income: +€26.1m
- Gross operating margin -€265,769
down €265,769 (-234.4%), from -€113,377 to -€379,147
- Financial charges +€216,396
up €216,396 (+4232.7%), from €5,113 to €221,509
- Other operating charges +€25,923
up €25,923 (+447.3%), from €5,796 to €31,719
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,803,514 | €35,897,124 | +€27.1m | +307.8% |
| Fixed assets | 21/28 | €3,188,645 | €1,124,293 | -€2.1m | -64.7% |
| Tangible fixed assets | 22/27 | €1,229,395 | €1,098,063 | -€131,332 | -10.7% |
| Land and buildings | 22 | €785,216 | €712,013 | -€73,203 | -9.3% |
| Plant, machinery and equipment | 23 | €23,216 | €12,869 | -€10,346 | -44.6% |
| Furniture and vehicles | 24 | €70,943 | €77,493 | +€6,550 | +9.2% |
| Other tangible fixed assets | 26 | €350,021 | €295,688 | -€54,333 | -15.5% |
| Financial fixed assets | 28 | €1,959,250 | €26,230 | -€1.9m | -98.7% |
| Current assets | 29/58 | €5,614,869 | €34,772,830 | +€29.2m | +519.3% |
| Amounts receivable after more than one year | 29 | €2,973,750 | €2,977,500 | +€3,750 | +0.1% |
| Other amounts receivable | 291 | €2,973,750 | €2,977,500 | +€3,750 | +0.1% |
| Amounts receivable within one year | 40/41 | €923,918 | €1,743,154 | +€819,236 | +88.7% |
| Trade receivables | 40 | €48,198 | - | -€48,198 | |
| Other amounts receivable | 41 | €875,720 | €1,743,154 | +€867,434 | +99.1% |
| Current investments | 50/53 | - | €25,275,854 | +€25.3m | |
| Cash at bank and in hand | 54/58 | €1,565,251 | €4,517,514 | +€3.0m | +188.6% |
| Deferred charges and accrued income | 490/1 | €151,950 | €258,809 | +€106,859 | +70.3% |
| Total equity and liabilities | 10/49 | €8,803,514 | €35,897,124 | +€27.1m | +307.8% |
| Equity | 10/15 | €7,394,813 | €34,865,399 | +€27.5m | +371.5% |
| Contributions | 10/11 | €13,600 | €13,600 | = | 0.0% |
| Reserves | 13 | €3,860,445 | €2,886,828 | -€973,617 | -25.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €3,858,585 | €2,884,968 | -€973,617 | -25.2% |
| Profit (loss) carried forward | 14 | €3,520,767 | €31,964,971 | +€28.4m | +807.9% |
| Amounts payable | 17/49 | €1,408,702 | €1,031,725 | -€376,977 | -26.8% |
| Amounts payable after more than one year | 17 | €46,631 | €2,955 | -€43,675 | -93.7% |
| Financial debts | 170/4 | €46,631 | €2,955 | -€43,675 | -93.7% |
| Amounts payable within one year | 42/48 | €1,360,671 | €1,028,770 | -€331,902 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €49,519 | €46,539 | -€2,979 | -6.0% |
| Trade debts | 44 | - | €1,621 | +€1,621 | |
| Suppliers | 440/4 | - | €1,621 | +€1,621 | |
| Taxes, remuneration and social security | 45 | €505,149 | €3,398 | -€501,752 | -99.3% |
| Taxes | 450/3 | €505,149 | €3,398 | -€501,752 | -99.3% |
| Other amounts payable | 47/48 | €806,003 | €977,212 | +€171,209 | +21.2% |
| Accrued charges and deferred income | 492/3 | €1,400 | - | -€1,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,474 | €134,379 | +€905 | +0.7% |
| Other operating charges | 640/8 | €5,796 | €31,719 | +€25,923 | +447.3% |
| Non-recurring operating charges | 66A | - | €8,825 | +€8,825 | |
| Gross operating margin | 9900 | -€113,377 | -€379,147 | -€265,769 | -234.4% |
| Operating profit (loss) | 9901 | -€252,647 | -€554,069 | -€301,422 | -119.3% |
| Financial income | 75/76B | €1,318,458 | €29,220,126 | +€27.9m | +2116.2% |
| Recurring financial income | 75 | €1,318,458 | €3,153,146 | +€1.8m | +139.2% |
| Non-recurring financial income | 76B | - | €26,066,980 | +€26.1m | |
| Financial charges | 65/66B | €5,113 | €221,509 | +€216,396 | +4232.7% |
| Recurring financial charges | 65 | €5,113 | €221,509 | +€216,396 | +4232.7% |
| Profit (loss) for the period before taxes | 9903 | €1,060,699 | €28,444,548 | +€27.4m | +2581.7% |
| Income taxes | 67/77 | - | €345 | +€345 | |
| Profit (loss) for the period | 9904 | €1,060,699 | €28,444,203 | +€27.4m | +2581.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,060,699 | €28,444,203 | +€27.4m | +2581.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.