FHE: 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.
FHE
Largest movements
- Cash +€46
up €46 (+25.4%), from €181 to €227
mainly Other debts (+€5,677) and Receivables within one year (+€45)
- Receivables within one year -€45
no longer reported in 2025 (was €45)
- Other debts +€5,677
up €5,677 (+27.6%), from €20,536 to €26,213
- Profit (loss) carried forward -€5,676
down €5,676 (-17.4%), from -€32,710 to -€38,386
- Taxes +€2,555
new in 2025: €2,555
- Other operating charges +€1,151
new in 2025: €1,151
- Gross operating margin +€634
up €634 (+24.8%), from -€2,559 to -€1,925
- Financial charges -€77
down €77 (-63.1%), from €122 to €45
of which Non-recurring financial charges: -€50
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 | €226 | €227 | +€1 | +0.4% |
| Current assets | 29/58 | €226 | €227 | +€1 | +0.4% |
| Amounts receivable within one year | 40/41 | €45 | - | -€45 | |
| Other amounts receivable | 41 | €45 | - | -€45 | |
| Cash at bank and in hand | 54/58 | €181 | €227 | +€46 | +25.4% |
| Total equity and liabilities | 10/49 | €226 | €227 | +€1 | +0.4% |
| Equity | 10/15 | -€20,310 | -€25,986 | -€5,676 | -27.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,710 | -€38,386 | -€5,676 | -17.4% |
| Amounts payable | 17/49 | €20,536 | €26,213 | +€5,677 | +27.6% |
| Amounts payable within one year | 42/48 | €20,536 | €26,213 | +€5,677 | +27.6% |
| Other amounts payable | 47/48 | €20,536 | €26,213 | +€5,677 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14 | - | -€14 | |
| Other operating charges | 640/8 | - | €1,151 | +€1,151 | |
| Gross operating margin | 9900 | -€2,559 | -€1,925 | +€634 | +24.8% |
| Operating profit (loss) | 9901 | -€2,573 | -€3,076 | -€503 | -19.5% |
| Financial charges | 65/66B | €122 | €45 | -€77 | -63.1% |
| Recurring financial charges | 65 | €72 | €45 | -€27 | -37.5% |
| Non-recurring financial charges | 66B | €50 | - | -€50 | |
| Profit (loss) for the period before taxes | 9903 | -€2,695 | -€3,121 | -€426 | -15.8% |
| Income taxes | 67/77 | - | €2,555 | +€2,555 | |
| Profit (loss) for the period | 9904 | -€2,695 | -€5,676 | -€2,981 | -110.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,695 | -€5,676 | -€2,981 | -110.6% |
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.