FH CONSULT: 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.
FH CONSULT
Largest movements
- Receivables within one year -€153,676
down €153,676 (-93.8%), from €163,900 to €10,225
- Tangible fixed assets +€118,709
up €118,709 (+43.1%), from €275,513 to €394,222
of which Land and buildings: +€125,819
- Cash -€6,870
down €6,870 (-8.6%), from €79,543 to €72,673
mainly Investment in fixed assets (net) (-€140,000) and Debts after one year (-€38,462)
- Debts after one year -€38,462
down €38,462 (-16.9%), from €227,922 to €189,461
- Gross operating margin -€76,170
down €76,170 (-61.6%), from €123,666 to €47,496
- Taxes -€20,784
down €20,784 (-99.4%), from €20,906 to €122
- Other operating charges +€9,260
up €9,260 (+82.3%), from €11,247 to €20,507
- Depreciation +€5,059
up €5,059 (+31.2%), from €16,232 to €21,291
- Financial charges -€2,288
down €2,288 (-27.2%), from €8,417 to €6,129
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 | €518,957 | €477,120 | -€41,837 | -8.1% |
| Fixed assets | 21/28 | €275,513 | €394,222 | +€118,709 | +43.1% |
| Tangible fixed assets | 22/27 | €275,513 | €394,222 | +€118,709 | +43.1% |
| Land and buildings | 22 | €240,450 | €366,270 | +€125,819 | +52.3% |
| Plant, machinery and equipment | 23 | €10,806 | €9,343 | -€1,463 | -13.5% |
| Furniture and vehicles | 24 | €19,038 | €14,335 | -€4,703 | -24.7% |
| Other tangible fixed assets | 26 | €5,218 | €4,274 | -€944 | -18.1% |
| Current assets | 29/58 | €243,444 | €82,898 | -€160,546 | -65.9% |
| Amounts receivable within one year | 40/41 | €163,900 | €10,225 | -€153,676 | -93.8% |
| Other amounts receivable | 41 | €163,900 | €10,225 | -€153,676 | -93.8% |
| Cash at bank and in hand | 54/58 | €79,543 | €72,673 | -€6,870 | -8.6% |
| Total equity and liabilities | 10/49 | €518,957 | €477,120 | -€41,837 | -8.1% |
| Equity | 10/15 | €236,045 | €235,694 | -€351 | -0.1% |
| Contributions | 10/11 | €15,200 | €15,200 | = | 0.0% |
| Outside capital | 11 | €15,200 | €15,200 | = | 0.0% |
| Other | 1109/19 | €15,200 | €15,200 | = | 0.0% |
| Reserves | 13 | €118,750 | €118,359 | -€391 | -0.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,390 | €8,999 | -€391 | -4.2% |
| Distributable reserves | 133 | €107,500 | €107,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,095 | €102,135 | +€40 | 0.0% |
| Provisions and deferred taxes | 16 | €6,337 | €6,136 | -€202 | -3.2% |
| Provisions for liabilities and charges | 160/5 | €1,500 | €1,500 | = | 0.0% |
| Major repairs and maintenance | 162 | €1,500 | €1,500 | = | 0.0% |
| Deferred taxes | 168 | €4,837 | €4,636 | -€202 | -4.2% |
| Amounts payable | 17/49 | €276,574 | €235,289 | -€41,284 | -14.9% |
| Amounts payable after more than one year | 17 | €227,922 | €189,461 | -€38,462 | -16.9% |
| Financial debts | 170/4 | €227,922 | €189,461 | -€38,462 | -16.9% |
| Amounts payable within one year | 42/48 | €48,652 | €45,829 | -€2,823 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €29,125 | €28,788 | -€337 | -1.2% |
| Trade debts | 44 | €1,497 | €1,276 | -€221 | -14.8% |
| Suppliers | 440/4 | €1,497 | €1,276 | -€221 | -14.8% |
| Taxes, remuneration and social security | 45 | €764 | €1,075 | +€311 | +40.6% |
| Taxes | 450/3 | €764 | €1,075 | +€311 | +40.6% |
| Other amounts payable | 47/48 | €17,266 | €14,690 | -€2,576 | -14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,232 | €21,291 | +€5,059 | +31.2% |
| Other operating charges | 640/8 | €11,247 | €20,507 | +€9,260 | +82.3% |
| Gross operating margin | 9900 | €123,666 | €47,496 | -€76,170 | -61.6% |
| Operating profit (loss) | 9901 | €96,187 | €5,698 | -€90,489 | -94.1% |
| Financial charges | 65/66B | €8,417 | €6,129 | -€2,288 | -27.2% |
| Recurring financial charges | 65 | €8,417 | €6,129 | -€2,288 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €87,770 | -€431 | -€88,201 | |
| Transfer from deferred taxes | 780 | €202 | €202 | = | 0.0% |
| Income taxes | 67/77 | €20,906 | €122 | -€20,784 | -99.4% |
| Profit (loss) for the period | 9904 | €67,065 | -€351 | -€67,416 | |
| Transfer from tax-exempt reserves | 789 | €391 | €391 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €67,456 | €40 | -€67,416 | -99.9% |
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 7 October 2026 via checked.be.