F H 1815: 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.
F H 1815
Largest movements
- Cash -€13,976
down €13,976 (-99.6%), from €14,028 to €52
mainly Advances received (-€152,965) and Debts after one year (-€14,740)
- Formation expenses -€10,714
no longer reported in 2025 (was €10,714)
- Stocks and contracts -€9,840
down €9,840 (-54.5%), from €18,040 to €8,200
- Receivables within one year -€8,587
down €8,587 (-38.4%), from €22,368 to €13,781
of which Trade receivables: -€6,517
- Tangible fixed assets -€743
down €743 (-15.6%), from €4,769 to €4,026
of which Other tangible fixed assets: -€743
- Advances received -€152,965
no longer reported in 2025 (was €152,965)
- Profit (loss) carried forward +€131,288
up €131,288 (+62.7%), from -€209,326 to -€78,038
- Debts after one year -€14,740
down €14,740 (-78.5%), from €18,766 to €4,026
- Trade debts -€8,614
down €8,614 (-77.3%), from €11,150 to €2,535
- Other debts +€1,222
up €1,222 (+1.8%), from €69,083 to €70,305
- Gross operating margin +€159,746
up €159,746 (+9,518%), from €1,678 to €161,425
- Depreciation -€11,339
down €11,339 (-93.9%), from €12,082 to €743
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 | €69,919 | €26,059 | -€43,860 | -62.7% |
| Formation expenses | 20 | €10,714 | - | -€10,714 | |
| Fixed assets | 21/28 | €4,769 | €4,026 | -€743 | -15.6% |
| Tangible fixed assets | 22/27 | €4,769 | €4,026 | -€743 | -15.6% |
| Furniture and vehicles | 24 | €2,541 | €2,541 | = | 0.0% |
| Other tangible fixed assets | 26 | €2,228 | €1,485 | -€743 | -33.3% |
| Current assets | 29/58 | €54,436 | €22,033 | -€32,403 | -59.5% |
| Stocks and contracts in progress | 3 | €18,040 | €8,200 | -€9,840 | -54.5% |
| Stocks | 30/36 | €18,040 | €8,200 | -€9,840 | -54.5% |
| Amounts receivable within one year | 40/41 | €22,368 | €13,781 | -€8,587 | -38.4% |
| Trade receivables | 40 | €16,977 | €10,460 | -€6,517 | -38.4% |
| Other amounts receivable | 41 | €5,391 | €3,321 | -€2,070 | -38.4% |
| Cash at bank and in hand | 54/58 | €14,028 | €52 | -€13,976 | -99.6% |
| Total equity and liabilities | 10/49 | €69,919 | €26,059 | -€43,860 | -62.7% |
| Equity | 10/15 | -€199,002 | -€67,714 | +€131,288 | +66.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,124 | €4,124 | = | 0.0% |
| Distributable reserves | 133 | €4,124 | €4,124 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€209,326 | -€78,038 | +€131,288 | +62.7% |
| Amounts payable | 17/49 | €268,921 | €93,772 | -€175,149 | -65.1% |
| Amounts payable after more than one year | 17 | €18,766 | €4,026 | -€14,740 | -78.5% |
| Financial debts | 170/4 | €18,766 | €4,026 | -€14,740 | -78.5% |
| Amounts payable within one year | 42/48 | €250,155 | €89,746 | -€160,409 | -64.1% |
| Current portion of amounts payable after more than one year | 42 | €15,832 | €16,655 | +€824 | +5.2% |
| Financial debts | 43 | - | €250 | +€250 | |
| Credit institutions | 430/8 | - | €250 | +€250 | |
| Trade debts | 44 | €11,150 | €2,535 | -€8,614 | -77.3% |
| Suppliers | 440/4 | €11,150 | €2,535 | -€8,614 | -77.3% |
| Advances received on contracts in progress | 46 | €152,965 | - | -€152,965 | |
| Taxes, remuneration and social security | 45 | €1,125 | - | -€1,125 | |
| Taxes | 450/3 | €1,125 | - | -€1,125 | |
| Other amounts payable | 47/48 | €69,083 | €70,305 | +€1,222 | +1.8% |
| Non-recurring operating income | 76A | - | €163,749 | +€163,749 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,082 | €743 | -€11,339 | -93.9% |
| Other operating charges | 640/8 | €504 | €573 | +€68 | +13.5% |
| Non-recurring operating charges | 66A | €663 | €27,058 | +€26,395 | +3,979% |
| Gross operating margin | 9900 | €1,678 | €161,425 | +€159,746 | +9,518% |
| Operating profit (loss) | 9901 | -€11,571 | €133,052 | +€144,623 | |
| Financial charges | 65/66B | €2,211 | €1,742 | -€468 | -21.2% |
| Recurring financial charges | 65 | €1,832 | €1,679 | -€153 | -8.4% |
| Non-recurring financial charges | 66B | €379 | €63 | -€315 | -83.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,782 | €131,309 | +€145,091 | |
| Income taxes | 67/77 | - | €21 | +€21 | |
| Profit (loss) for the period | 9904 | -€13,782 | €131,288 | +€145,070 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,782 | €131,288 | +€145,070 |
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 23 October 2026 via checked.be.