FHS Belgium: what changed
FHS Belgium
Largest movements
- Cash +€11,842
up €11,842 (+105%), from €11,331 to €23,173
mainly Net result for the year (+€23,512) and Tax, wage and social debts (+€23,102)
- Tangible fixed assets -€10,993
down €10,993 (-27.4%), from €40,087 to €29,094
- Receivables within one year -€5,111
down €5,111 (-15.6%), from €32,817 to €27,706
of which Trade receivables: -€3,852
- Trade debts -€34,689
down €34,689 (-44.7%), from €77,557 to €42,868
- Profit (loss) carried forward +€23,512
up €23,512 (+20.3%), from -€115,939 to -€92,427
- Tax, wage and social debts +€23,102
up €23,102 (+609%), from €3,793 to €26,896
of which Remuneration and social security: +€23,516
- Debts after one year -€22,670
down €22,670 (-29.6%), from €76,476 to €53,806
- Current portion of long-term debt +€10,984
up €10,984 (+52.6%), from €20,877 to €31,860
- Gross operating margin -€78,081
down €78,081 (-38.4%), from €203,259 to €125,178
- Staff costs -€40,563
down €40,563 (-33.4%), from €121,534 to €80,971
- Financial charges -€4,402
down €4,402 (-38.5%), from €11,436 to €7,035
of which Financial charges: -€3,888
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 | €90,185 | €86,231 | -€3,955 | -4.4% |
| Fixed assets | 21/28 | €46,037 | €35,044 | -€10,993 | -23.9% |
| Tangible fixed assets | 22/27 | €40,087 | €29,094 | -€10,993 | -27.4% |
| Furniture and vehicles | 24 | €40,087 | €29,094 | -€10,993 | -27.4% |
| Financial fixed assets | 28 | €5,950 | €5,950 | = | 0.0% |
| Current assets | 29/58 | €44,148 | €51,186 | +€7,038 | +15.9% |
| Amounts receivable within one year | 40/41 | €32,817 | €27,706 | -€5,111 | -15.6% |
| Trade receivables | 40 | €25,092 | €21,240 | -€3,852 | -15.4% |
| Other amounts receivable | 41 | €7,725 | €6,466 | -€1,259 | -16.3% |
| Cash at bank and in hand | 54/58 | €11,331 | €23,173 | +€11,842 | +105% |
| Deferred charges and accrued income | 490/1 | - | €307 | +€307 | |
| Total equity and liabilities | 10/49 | €90,185 | €86,231 | -€3,955 | -4.4% |
| Equity | 10/15 | -€95,939 | -€72,427 | +€23,512 | +24.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,939 | -€92,427 | +€23,512 | +20.3% |
| Amounts payable | 17/49 | €186,125 | €158,658 | -€27,467 | -14.8% |
| Amounts payable after more than one year | 17 | €76,476 | €53,806 | -€22,670 | -29.6% |
| Financial debts | 170/4 | €76,476 | €53,806 | -€22,670 | -29.6% |
| Amounts payable within one year | 42/48 | €109,261 | €104,852 | -€4,409 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €20,877 | €31,860 | +€10,984 | +52.6% |
| Financial debts | 43 | €3,444 | - | -€3,444 | |
| Credit institutions | 430/8 | €3,444 | - | -€3,444 | |
| Trade debts | 44 | €77,557 | €42,868 | -€34,689 | -44.7% |
| Suppliers | 440/4 | €77,557 | €42,868 | -€34,689 | -44.7% |
| Taxes, remuneration and social security | 45 | €3,793 | €26,896 | +€23,102 | +609% |
| Taxes | 450/3 | €465 | €52 | -€413 | -88.8% |
| Remuneration and social security | 454/9 | €3,328 | €26,844 | +€23,516 | +707% |
| Other amounts payable | 47/48 | €3,590 | €3,228 | -€362 | -10.1% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Remuneration, social security and pensions | 62 | €121,534 | €80,971 | -€40,563 | -33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,181 | €13,243 | +€62 | +0.5% |
| Other operating charges | 640/8 | €812 | €521 | -€291 | -35.8% |
| Non-recurring operating charges | 66A | €1,310 | - | -€1,310 | |
| Gross operating margin | 9900 | €203,259 | €125,178 | -€78,081 | -38.4% |
| Operating profit (loss) | 9901 | €66,421 | €30,442 | -€35,979 | -54.2% |
| Financial income | 75/76B | €19 | €103 | +€84 | +430% |
| Recurring financial income | 75 | €19 | €103 | +€84 | +430% |
| Financial charges | 65/66B | €11,436 | €7,035 | -€4,402 | -38.5% |
| Recurring financial charges | 65 | €10,922 | €7,035 | -€3,888 | -35.6% |
| Non-recurring financial charges | 66B | €514 | - | -€514 | |
| Profit (loss) for the period before taxes | 9903 | €55,005 | €23,511 | -€31,494 | -57.3% |
| Income taxes | 67/77 | €337 | -€1 | -€338 | |
| Profit (loss) for the period | 9904 | €54,668 | €23,512 | -€31,156 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,668 | €23,512 | -€31,156 | -57.0% |
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 2 November 2026 via checked.be.