H&A Projects: 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.
H&A Projects
Largest movements
- Tangible fixed assets -€9,779
down €9,779 (-1.8%), from €542,633 to €532,854
- Cash +€8,319
up €8,319 (+127.6%), from €6,522 to €14,841
mainly Net result for the year (+€27,931) and Depreciation (+€9,779)
- Reserves +€27,931
up €27,931 (+13.5%), from €206,963 to €234,894
of which Distributable reserves: +€27,931
- Current portion of long-term debt -€15,948
down €15,948 (-14.0%), from €114,226 to €98,278
- Debts after one year -€15,666
down €15,666 (-15.7%), from €99,912 to €84,246
- Financial charges -€2,380
down €2,380 (-26.7%), from €8,900 to €6,520
- Taxes +€623
up €623 (+5.0%), from €12,412 to €13,035
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 | €555,689 | €554,228 | -€1,461 | -0.3% |
| Fixed assets | 21/28 | €542,633 | €532,854 | -€9,779 | -1.8% |
| Tangible fixed assets | 22/27 | €542,633 | €532,854 | -€9,779 | -1.8% |
| Land and buildings | 22 | €542,633 | €532,854 | -€9,779 | -1.8% |
| Current assets | 29/58 | €13,056 | €21,375 | +€8,319 | +63.7% |
| Amounts receivable within one year | 40/41 | €6,534 | €6,534 | = | 0.0% |
| Trade receivables | 40 | €6,534 | €6,534 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €6,522 | €14,841 | +€8,319 | +127.6% |
| Total equity and liabilities | 10/49 | €555,689 | €554,228 | -€1,461 | -0.3% |
| Equity | 10/15 | €225,563 | €253,494 | +€27,931 | +12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €206,963 | €234,894 | +€27,931 | +13.5% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €191,963 | €219,894 | +€27,931 | +14.6% |
| Amounts payable | 17/49 | €330,126 | €300,734 | -€29,392 | -8.9% |
| Amounts payable after more than one year | 17 | €99,912 | €84,246 | -€15,666 | -15.7% |
| Financial debts | 170/4 | €99,912 | €84,246 | -€15,666 | -15.7% |
| Amounts payable within one year | 42/48 | €230,214 | €216,245 | -€13,969 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €114,226 | €98,278 | -€15,948 | -14.0% |
| Trade debts | 44 | €6,969 | €6,183 | -€786 | -11.3% |
| Suppliers | 440/4 | €6,969 | €6,183 | -€786 | -11.3% |
| Taxes, remuneration and social security | 45 | €6,159 | €8,924 | +€2,765 | +44.9% |
| Taxes | 450/3 | €6,159 | €8,924 | +€2,765 | +44.9% |
| Other amounts payable | 47/48 | €102,860 | €102,860 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €243 | +€243 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,779 | €9,779 | = | 0.0% |
| Other operating charges | 640/8 | €1,758 | €1,812 | +€54 | +3.1% |
| Gross operating margin | 9900 | €58,533 | €59,078 | +€545 | +0.9% |
| Operating profit (loss) | 9901 | €46,995 | €47,486 | +€491 | +1.0% |
| Financial charges | 65/66B | €8,900 | €6,520 | -€2,380 | -26.7% |
| Recurring financial charges | 65 | €8,900 | €6,520 | -€2,380 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €38,096 | €40,966 | +€2,870 | +7.5% |
| Income taxes | 67/77 | €12,412 | €13,035 | +€623 | +5.0% |
| Profit (loss) for the period | 9904 | €25,684 | €27,931 | +€2,247 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,684 | €27,931 | +€2,247 | +8.8% |
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 6 October 2026 via checked.be.