FH-FINITIONS: 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.
FH-FINITIONS
Largest movements
- Receivables within one year +€38,493
up €38,493 (+177%), from €21,744 to €60,237
of which Trade receivables: +€31,703
- Cash +€37,798
up €37,798 (+342%), from €11,064 to €48,862
mainly Net result for the year (+€51,549) and Tax, wage and social debts (+€30,374)
- Deferred charges and accrued income -€20,847
down €20,847 (-95.5%), from €21,832 to €985
- Tangible fixed assets +€5,437
up €5,437 (+27.5%), from €19,751 to €25,188
of which Leasing and similar rights: +€18,568
- Profit (loss) carried forward +€51,309
up €51,309, from -€17,944 to €33,365
- Tax, wage and social debts +€30,374
up €30,374 (+604%), from €5,029 to €35,402
of which Taxes: +€16,819
- Debts after one year -€10,693
down €10,693 (-57.6%), from €18,568 to €7,875
- Advances received -€8,984
down €8,984 (-100%), from €8,984 to €0
- Trade debts -€6,011
down €6,011 (-24.0%), from €25,030 to €19,019
- Gross operating margin +€99,389
up €99,389 (+97.9%), from €101,526 to €200,915
- Staff costs +€71,646
up €71,646 (+208%), from €34,418 to €106,064
- Taxes +€13,838
up €13,838 (+1,816%), from €762 to €14,600
- Depreciation -€6,237
down €6,237 (-34.0%), from €18,349 to €12,112
- Other operating charges +€4,911
up €4,911 (+87.0%), from €5,646 to €10,557
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 | €75,555 | €136,435 | +€60,880 | +80.6% |
| Fixed assets | 21/28 | €20,915 | €26,352 | +€5,437 | +26.0% |
| Tangible fixed assets | 22/27 | €19,751 | €25,188 | +€5,437 | +27.5% |
| Plant, machinery and equipment | 23 | €8,420 | €6,620 | -€1,800 | -21.4% |
| Furniture and vehicles | 24 | €11,331 | €0 | -€11,331 | -100% |
| Leasing and similar rights | 25 | - | €18,568 | +€18,568 | |
| Financial fixed assets | 28 | €1,164 | €1,164 | = | 0.0% |
| Current assets | 29/58 | €54,640 | €110,084 | +€55,444 | +101% |
| Amounts receivable within one year | 40/41 | €21,744 | €60,237 | +€38,493 | +177% |
| Trade receivables | 40 | €21,093 | €52,796 | +€31,703 | +150% |
| Other amounts receivable | 41 | €651 | €7,441 | +€6,790 | +1,044% |
| Cash at bank and in hand | 54/58 | €11,064 | €48,862 | +€37,798 | +342% |
| Deferred charges and accrued income | 490/1 | €21,832 | €985 | -€20,847 | -95.5% |
| Total equity and liabilities | 10/49 | €75,555 | €136,435 | +€60,880 | +80.6% |
| Equity | 10/15 | €887 | €52,196 | +€51,309 | +5,782% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €232 | €232 | = | 0.0% |
| Non-distributable reserves | 130/1 | €232 | €232 | = | 0.0% |
| Legal reserve | 130 | €232 | - | -€232 | |
| Reserves not available under the articles | 1311 | - | €232 | +€232 | |
| Profit (loss) carried forward | 14 | -€17,944 | €33,365 | +€51,309 | |
| Amounts payable | 17/49 | €74,668 | €84,239 | +€9,571 | +12.8% |
| Amounts payable after more than one year | 17 | €18,568 | €7,875 | -€10,693 | -57.6% |
| Financial debts | 170/4 | €18,568 | €7,875 | -€10,693 | -57.6% |
| Amounts payable within one year | 42/48 | €56,100 | €76,364 | +€20,264 | +36.1% |
| Current portion of amounts payable after more than one year | 42 | €9,379 | €10,693 | +€1,314 | +14.0% |
| Trade debts | 44 | €25,030 | €19,019 | -€6,011 | -24.0% |
| Suppliers | 440/4 | €25,030 | €19,019 | -€6,011 | -24.0% |
| Advances received on contracts in progress | 46 | €8,984 | €0 | -€8,984 | -100% |
| Taxes, remuneration and social security | 45 | €5,029 | €35,402 | +€30,374 | +604% |
| Taxes | 450/3 | €575 | €17,394 | +€16,819 | +2,923% |
| Remuneration and social security | 454/9 | €4,453 | €18,008 | +€13,555 | +304% |
| Other amounts payable | 47/48 | €7,679 | €11,249 | +€3,571 | +46.5% |
| Non-recurring operating income | 76A | - | €17,862 | +€17,862 | |
| Remuneration, social security and pensions | 62 | €34,418 | €106,064 | +€71,646 | +208% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,349 | €12,112 | -€6,237 | -34.0% |
| Other operating charges | 640/8 | €5,646 | €10,557 | +€4,911 | +87.0% |
| Non-recurring operating charges | 66A | €10,158 | €0 | -€10,158 | -100% |
| Gross operating margin | 9900 | €101,526 | €200,915 | +€99,389 | +97.9% |
| Operating profit (loss) | 9901 | €32,957 | €72,183 | +€39,227 | +119% |
| Financial income | 75/76B | €1 | €23 | +€22 | +4,314% |
| Recurring financial income | 75 | €1 | €23 | +€22 | +4,314% |
| Financial charges | 65/66B | €6,730 | €6,057 | -€673 | -10.0% |
| Recurring financial charges | 65 | €6,730 | €5,743 | -€987 | -14.7% |
| Non-recurring financial charges | 66B | - | €314 | +€314 | |
| Profit (loss) for the period before taxes | 9903 | €26,227 | €66,149 | +€39,922 | +152% |
| Income taxes | 67/77 | €762 | €14,600 | +€13,838 | +1,816% |
| Profit (loss) for the period | 9904 | €25,465 | €51,549 | +€26,084 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €25,465 | €51,549 | +€26,084 | +102% |
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 31 October 2026 via checked.be.