F.H.R. GESTION: what changed
F.H.R. GESTION
Largest movements
- Intangible fixed assets -€28,750
down €28,750 (-21.9%), from €130,990 to €102,240
- Receivables within one year +€8,962
up €8,962 (+6.4%), from €140,419 to €149,380
of which Other amounts receivable: +€11,960
- Cash -€5,868
down €5,868 (-13.4%), from €43,904 to €38,036
mainly Debts after one year (-€27,255) and Contributions, distributions and other (-€21,692)
- Debts after one year -€27,255
down €27,255 (-25.4%), from €107,190 to €79,935
- Reserves -€21,692
down €21,692 (-46.5%), from €46,692 to €25,000
- Other debts +€21,692
up €21,692 (+770%), from €2,818 to €24,510
- Current portion of long-term debt +€7,570
up €7,570 (+26.4%), from €28,681 to €36,251
- Tax, wage and social debts -€3,348
down €3,348 (-5.9%), from €57,149 to €53,801
of which Taxes: -€9,301
- Gross operating margin -€23,719
down €23,719 (-15.4%), from €154,501 to €130,782
- Staff costs +€22,155
up €22,155 (+27.6%), from €80,309 to €102,464
- Taxes -€17,344
down €17,344 (-91.3%), from €19,006 to €1,662
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 | €321,637 | €297,824 | -€23,813 | -7.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €131,226 | €105,267 | -€25,959 | -19.8% |
| Intangible fixed assets | 21 | €130,990 | €102,240 | -€28,750 | -21.9% |
| Tangible fixed assets | 22/27 | €236 | €3,027 | +€2,791 | +1,182% |
| Plant, machinery and equipment | 23 | €236 | €0 | -€236 | -100% |
| Furniture and vehicles | 24 | €0 | €3,027 | +€3,027 | |
| Current assets | 29/58 | €190,411 | €192,558 | +€2,146 | +1.1% |
| Amounts receivable within one year | 40/41 | €140,419 | €149,380 | +€8,962 | +6.4% |
| Trade receivables | 40 | €20,127 | €17,128 | -€2,999 | -14.9% |
| Other amounts receivable | 41 | €120,292 | €132,252 | +€11,960 | +9.9% |
| Cash at bank and in hand | 54/58 | €43,904 | €38,036 | -€5,868 | -13.4% |
| Deferred charges and accrued income | 490/1 | €6,089 | €5,142 | -€947 | -15.6% |
| Total equity and liabilities | 10/49 | €321,637 | €297,824 | -€23,813 | -7.4% |
| Equity | 10/15 | €124,287 | €101,145 | -€23,142 | -18.6% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €46,692 | €25,000 | -€21,692 | -46.5% |
| Distributable reserves | 133 | €46,692 | €25,000 | -€21,692 | -46.5% |
| Profit (loss) carried forward | 14 | €42,596 | €41,145 | -€1,450 | -3.4% |
| Amounts payable | 17/49 | €197,350 | €196,679 | -€671 | -0.3% |
| Amounts payable after more than one year | 17 | €107,190 | €79,935 | -€27,255 | -25.4% |
| Financial debts | 170/4 | €107,190 | €79,935 | -€27,255 | -25.4% |
| Amounts payable within one year | 42/48 | €89,869 | €116,453 | +€26,584 | +29.6% |
| Current portion of amounts payable after more than one year | 42 | €28,681 | €36,251 | +€7,570 | +26.4% |
| Trade debts | 44 | €1,220 | €1,891 | +€670 | +54.9% |
| Suppliers | 440/4 | €1,220 | €1,891 | +€670 | +54.9% |
| Taxes, remuneration and social security | 45 | €57,149 | €53,801 | -€3,348 | -5.9% |
| Taxes | 450/3 | €35,759 | €26,457 | -€9,301 | -26.0% |
| Remuneration and social security | 454/9 | €21,390 | €27,343 | +€5,953 | +27.8% |
| Other amounts payable | 47/48 | €2,818 | €24,510 | +€21,692 | +770% |
| Accrued charges and deferred income | 492/3 | €291 | €291 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €80,309 | €102,464 | +€22,155 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,250 | €29,601 | +€351 | +1.2% |
| Other operating charges | 640/8 | €1,409 | €1,720 | +€311 | +22.1% |
| Gross operating margin | 9900 | €154,501 | €130,782 | -€23,719 | -15.4% |
| Operating profit (loss) | 9901 | €43,533 | -€3,003 | -€46,536 | |
| Financial income | 75/76B | €6,156 | €6,382 | +€226 | +3.7% |
| Recurring financial income | 75 | €6,156 | €6,382 | +€226 | +3.7% |
| Financial charges | 65/66B | €3,264 | €3,167 | -€97 | -3.0% |
| Recurring financial charges | 65 | €3,264 | €3,167 | -€97 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €46,425 | €212 | -€46,213 | -99.5% |
| Income taxes | 67/77 | €19,006 | €1,662 | -€17,344 | -91.3% |
| Profit (loss) for the period | 9904 | €27,419 | -€1,450 | -€28,869 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,419 | -€1,450 | -€28,869 |
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 7 November 2026 via checked.be.