H+B: 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.
H+B
Largest movements
- Cash -€245,442
down €245,442 (-67.6%), from €363,161 to €117,718
mainly Current investments (-€218,448) and Investment in fixed assets (net) (-€38,402)
- Current investments +€218,448
up €218,448 (+28.5%), from €766,875 to €985,323
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€19,260
up €19,260 (+65.2%), from -€29,531 to -€10,271
- Financial charges +€7,081
up €7,081 (+5244.9%), from €135 to €7,216
- Depreciation +€4,854
up €4,854 (+24.3%), from €19,964 to €24,818
- Other operating charges +€1,975
up €1,975 (+123.5%), from €1,599 to €3,574
- Financial income +€888
up €888 (+2.8%), from €31,771 to €32,660
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 | €1,799,115 | €1,784,980 | -€14,135 | -0.8% |
| Fixed assets | 21/28 | €646,696 | €660,279 | +€13,583 | +2.1% |
| Tangible fixed assets | 22/27 | €646,696 | €660,279 | +€13,583 | +2.1% |
| Land and buildings | 22 | €632,634 | €615,516 | -€17,118 | -2.7% |
| Furniture and vehicles | 24 | €13,991 | €44,762 | +€30,772 | +219.9% |
| Other tangible fixed assets | 26 | €71 | €0 | -€71 | -100.0% |
| Current assets | 29/58 | €1,152,420 | €1,124,701 | -€27,719 | -2.4% |
| Amounts receivable within one year | 40/41 | €13,829 | €12,231 | -€1,598 | -11.6% |
| Other amounts receivable | 41 | €13,829 | €12,231 | -€1,598 | -11.6% |
| Current investments | 50/53 | €766,875 | €985,323 | +€218,448 | +28.5% |
| Cash at bank and in hand | 54/58 | €363,161 | €117,718 | -€245,442 | -67.6% |
| Deferred charges and accrued income | 490/1 | €8,555 | €9,429 | +€874 | +10.2% |
| Total equity and liabilities | 10/49 | €1,799,115 | €1,784,980 | -€14,135 | -0.8% |
| Equity | 10/15 | €1,795,402 | €1,781,543 | -€13,859 | -0.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,829,936 | €1,829,936 | = | 0.0% |
| Non-distributable reserves | 130/1 | €147,883 | €147,883 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Own shares acquired | 1312 | €147,883 | €147,883 | = | 0.0% |
| Distributable reserves | 133 | €1,682,053 | €1,682,053 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,134 | -€66,993 | -€13,859 | -26.1% |
| Amounts payable | 17/49 | €3,713 | €3,437 | -€276 | -7.4% |
| Amounts payable within one year | 42/48 | €3,713 | €3,437 | -€276 | -7.4% |
| Trade debts | 44 | €1,586 | €1,248 | -€338 | -21.3% |
| Suppliers | 440/4 | €1,586 | €1,248 | -€338 | -21.3% |
| Taxes, remuneration and social security | 45 | €2,127 | €1,344 | -€783 | -36.8% |
| Taxes | 450/3 | €2,127 | €1,344 | -€783 | -36.8% |
| Other amounts payable | 47/48 | - | €845 | +€845 | |
| Non-recurring operating income | 76A | €7,900 | €0 | -€7,900 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,964 | €24,818 | +€4,854 | +24.3% |
| Other operating charges | 640/8 | €1,599 | €3,574 | +€1,975 | +123.5% |
| Gross operating margin | 9900 | -€29,531 | -€10,271 | +€19,260 | +65.2% |
| Operating profit (loss) | 9901 | -€51,094 | -€38,663 | +€12,431 | +24.3% |
| Financial income | 75/76B | €31,771 | €32,660 | +€888 | +2.8% |
| Recurring financial income | 75 | €31,771 | €32,660 | +€888 | +2.8% |
| Financial charges | 65/66B | €135 | €7,216 | +€7,081 | +5244.9% |
| Recurring financial charges | 65 | €135 | €7,216 | +€7,081 | +5244.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,458 | -€13,219 | +€6,239 | +32.1% |
| Income taxes | 67/77 | €672 | €640 | -€32 | -4.8% |
| Profit (loss) for the period | 9904 | -€20,130 | -€13,859 | +€6,271 | +31.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,130 | -€13,859 | +€6,271 | +31.2% |
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 10 October 2026 via checked.be.