FH Management: 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 Management
Largest movements
- Receivables within one year +€84,188
up €84,188 (+369.1%), from €22,811 to €106,999
of which Trade receivables: +€82,695
- Cash -€30,204
down €30,204 (-57.5%), from €52,572 to €22,368
mainly Receivables within one year (-€84,188)
- Tangible fixed assets -€14,699
down €14,699 (-30.0%), from €49,033 to €34,334
of which Furniture and vehicles: -€13,418
- Trade debts +€28,547
up €28,547 (+118.8%), from €24,037 to €52,583
- Other debts +€6,930
up €6,930 (+13.4%), from €51,665 to €58,595
- Profit (loss) carried forward +€3,765
up €3,765 (+25.8%), from -€14,615 to -€10,850
- Depreciation -€1,207
down €1,207 (-7.6%), from €15,905 to €14,699
- Taxes +€873
up €873 (+599.3%), from €146 to €1,019
- Gross operating margin +€815
up €815 (+4.1%), from €19,868 to €20,683
- Financial income -€279
down €279 (-49.4%), from €565 to €286
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 | €126,424 | €165,842 | +€39,417 | +31.2% |
| Fixed assets | 21/28 | €49,033 | €34,334 | -€14,699 | -30.0% |
| Tangible fixed assets | 22/27 | €49,033 | €34,334 | -€14,699 | -30.0% |
| Land and buildings | 22 | €2,035 | €754 | -€1,281 | -62.9% |
| Furniture and vehicles | 24 | €46,998 | €33,580 | -€13,418 | -28.6% |
| Current assets | 29/58 | €77,391 | €131,507 | +€54,116 | +69.9% |
| Amounts receivable within one year | 40/41 | €22,811 | €106,999 | +€84,188 | +369.1% |
| Trade receivables | 40 | €19,360 | €102,055 | +€82,695 | +427.1% |
| Other amounts receivable | 41 | €3,451 | €4,944 | +€1,493 | +43.2% |
| Cash at bank and in hand | 54/58 | €52,572 | €22,368 | -€30,204 | -57.5% |
| Deferred charges and accrued income | 490/1 | €2,008 | €2,140 | +€132 | +6.6% |
| Total equity and liabilities | 10/49 | €126,424 | €165,842 | +€39,417 | +31.2% |
| Equity | 10/15 | €49,965 | €53,730 | +€3,765 | +7.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €52,180 | €52,180 | = | 0.0% |
| Distributable reserves | 133 | €52,180 | €52,180 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,615 | -€10,850 | +€3,765 | +25.8% |
| Amounts payable | 17/49 | €76,459 | €112,112 | +€35,652 | +46.6% |
| Amounts payable within one year | 42/48 | €76,459 | €112,112 | +€35,652 | +46.6% |
| Trade debts | 44 | €24,037 | €52,583 | +€28,547 | +118.8% |
| Suppliers | 440/4 | €24,037 | €52,583 | +€28,547 | +118.8% |
| Taxes, remuneration and social security | 45 | €758 | €933 | +€176 | +23.2% |
| Taxes | 450/3 | €758 | €933 | +€176 | +23.2% |
| Other amounts payable | 47/48 | €51,665 | €58,595 | +€6,930 | +13.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,905 | €14,699 | -€1,207 | -7.6% |
| Other operating charges | 640/8 | €1,005 | €1,175 | +€170 | +16.9% |
| Gross operating margin | 9900 | €19,868 | €20,683 | +€815 | +4.1% |
| Operating profit (loss) | 9901 | €2,958 | €4,810 | +€1,852 | +62.6% |
| Financial income | 75/76B | €565 | €286 | -€279 | -49.4% |
| Recurring financial income | 75 | €565 | €286 | -€279 | -49.4% |
| Financial charges | 65/66B | €281 | €312 | +€31 | +10.9% |
| Recurring financial charges | 65 | €281 | €312 | +€31 | +10.9% |
| Profit (loss) for the period before taxes | 9903 | €3,241 | €4,784 | +€1,542 | +47.6% |
| Income taxes | 67/77 | €146 | €1,019 | +€873 | +599.3% |
| Profit (loss) for the period | 9904 | €3,096 | €3,765 | +€669 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €3,096 | €3,765 | +€669 | +21.6% |
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 3 October 2026 via checked.be.