F&H: 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.
F&H
Largest movements
- Receivables within one year -€33,471
down €33,471 (-76.4%), from €43,798 to €10,327
of which Trade receivables: -€28,732
- Tangible fixed assets -€6,998
down €6,998 (-25.0%), from €27,992 to €20,994
- Cash +€2,627
up €2,627 (+11.0%), from €23,987 to €26,614
mainly Receivables within one year (+€33,471) and Depreciation (+€6,998)
- Debts after one year -€28,898
down €28,898 (-61.5%), from €46,990 to €18,092
- Other debts -€11,607
down €11,607 (-60.6%), from €19,161 to €7,554
- Tax, wage and social debts -€7,776
down €7,776 (-54.1%), from €14,362 to €6,586
- Profit (loss) carried forward +€4,781
up €4,781 (+17.8%), from €26,863 to €31,644
- Trade debts +€3,165
up €3,165 (+19.6%), from €16,165 to €19,330
- Gross operating margin -€2,638
down €2,638 (-13.6%), from €19,444 to €16,806
- Taxes +€675
new in 2025: €675
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.
Cash bridge derived
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 | €169,626 | €130,705 | -€38,921 | -22.9% |
| Fixed assets | 21/28 | €27,992 | €20,994 | -€6,998 | -25.0% |
| Tangible fixed assets | 22/27 | €27,992 | €20,994 | -€6,998 | -25.0% |
| Furniture and vehicles | 24 | €27,992 | €20,994 | -€6,998 | -25.0% |
| Current assets | 29/58 | €141,634 | €109,711 | -€31,923 | -22.5% |
| Stocks and contracts in progress | 3 | €73,848 | €72,769 | -€1,079 | -1.5% |
| Stocks | 30/36 | €73,848 | €72,769 | -€1,079 | -1.5% |
| Amounts receivable within one year | 40/41 | €43,798 | €10,327 | -€33,471 | -76.4% |
| Trade receivables | 40 | €39,059 | €10,327 | -€28,732 | -73.6% |
| Other amounts receivable | 41 | €4,739 | - | -€4,739 | |
| Cash at bank and in hand | 54/58 | €23,987 | €26,614 | +€2,627 | +11.0% |
| Total equity and liabilities | 10/49 | €169,626 | €130,705 | -€38,921 | -22.9% |
| Equity | 10/15 | €45,463 | €50,244 | +€4,781 | +10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,863 | €31,644 | +€4,781 | +17.8% |
| Amounts payable | 17/49 | €124,163 | €80,460 | -€43,702 | -35.2% |
| Amounts payable after more than one year | 17 | €46,990 | €18,092 | -€28,898 | -61.5% |
| Financial debts | 170/4 | €46,990 | €18,092 | -€28,898 | -61.5% |
| Amounts payable within one year | 42/48 | €77,173 | €62,368 | -€14,805 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €27,484 | €28,898 | +€1,413 | +5.1% |
| Trade debts | 44 | €16,165 | €19,330 | +€3,165 | +19.6% |
| Suppliers | 440/4 | €16,165 | €19,330 | +€3,165 | +19.6% |
| Taxes, remuneration and social security | 45 | €14,362 | €6,586 | -€7,776 | -54.1% |
| Taxes | 450/3 | €14,362 | €6,586 | -€7,776 | -54.1% |
| Other amounts payable | 47/48 | €19,161 | €7,554 | -€11,607 | -60.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,998 | €6,998 | = | 0.0% |
| Other operating charges | 640/8 | €957 | €824 | -€133 | -13.9% |
| Gross operating margin | 9900 | €19,444 | €16,806 | -€2,638 | -13.6% |
| Operating profit (loss) | 9901 | €11,489 | €8,984 | -€2,505 | -21.8% |
| Financial income | 75/76B | €10 | €1 | -€9 | -88.1% |
| Recurring financial income | 75 | €10 | €1 | -€9 | -88.1% |
| Financial charges | 65/66B | €3,672 | €3,529 | -€143 | -3.9% |
| Recurring financial charges | 65 | €3,672 | €3,529 | -€143 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €7,827 | €5,456 | -€2,371 | -30.3% |
| Income taxes | 67/77 | - | €675 | +€675 | |
| Profit (loss) for the period | 9904 | €7,827 | €4,781 | -€3,046 | -38.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,827 | €4,781 | -€3,046 | -38.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.