H CONCEPT: 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 CONCEPT
Largest movements
- Tangible fixed assets +€64,238
new in 2025: €64,238
of which Furniture and vehicles: +€62,815
- Cash -€22,528
down €22,528 (-96.3%), from €23,386 to €858
mainly Investment in fixed assets (net) (-€71,735) and Contributions, distributions and other (-€36,000)
- Receivables within one year +€15,982
up €15,982 (+39.2%), from €40,807 to €56,789
of which Trade receivables: +€16,748
- Profit (loss) carried forward +€28,947
up €28,947 (+222.3%), from €13,023 to €41,969
- Trade debts +€21,576
up €21,576 (+569.5%), from €3,789 to €25,364
- Tax, wage and social debts +€11,968
up €11,968 (+356.3%), from €3,359 to €15,327
- Other debts -€4,799
down €4,799 (-10.9%), from €44,023 to €39,224
- Gross operating margin +€35,349
up €35,349 (+68.6%), from €51,554 to €86,903
- Depreciation +€7,496
new in 2025: €7,496
- Taxes +€7,118
up €7,118 (+211.9%), from €3,359 to €10,477
- Financial charges +€3,711
up €3,711 (+1361.6%), from €273 to €3,983
of which Non-recurring financial charges: +€3,462
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 | €64,194 | €121,885 | +€57,692 | +89.9% |
| Fixed assets | 21/28 | - | €64,238 | +€64,238 | |
| Tangible fixed assets | 22/27 | - | €64,238 | +€64,238 | |
| Plant, machinery and equipment | 23 | - | €1,423 | +€1,423 | |
| Furniture and vehicles | 24 | - | €62,815 | +€62,815 | |
| Current assets | 29/58 | €64,194 | €57,647 | -€6,547 | -10.2% |
| Amounts receivable within one year | 40/41 | €40,807 | €56,789 | +€15,982 | +39.2% |
| Trade receivables | 40 | €40,041 | €56,789 | +€16,748 | +41.8% |
| Other amounts receivable | 41 | €766 | - | -€766 | |
| Cash at bank and in hand | 54/58 | €23,386 | €858 | -€22,528 | -96.3% |
| Total equity and liabilities | 10/49 | €64,194 | €121,885 | +€57,692 | +89.9% |
| Equity | 10/15 | €13,023 | €41,969 | +€28,947 | +222.3% |
| Profit (loss) carried forward | 14 | €13,023 | €41,969 | +€28,947 | +222.3% |
| Amounts payable | 17/49 | €51,171 | €79,916 | +€28,745 | +56.2% |
| Amounts payable within one year | 42/48 | €51,171 | €79,916 | +€28,745 | +56.2% |
| Trade debts | 44 | €3,789 | €25,364 | +€21,576 | +569.5% |
| Suppliers | 440/4 | €3,789 | €25,364 | +€21,576 | +569.5% |
| Taxes, remuneration and social security | 45 | €3,359 | €15,327 | +€11,968 | +356.3% |
| Taxes | 450/3 | €3,359 | €15,327 | +€11,968 | +356.3% |
| Other amounts payable | 47/48 | €44,023 | €39,224 | -€4,799 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,496 | +€7,496 | |
| Gross operating margin | 9900 | €51,554 | €86,903 | +€35,349 | +68.6% |
| Operating profit (loss) | 9901 | €51,554 | €79,407 | +€27,853 | +54.0% |
| Financial income | 75/76B | €100 | €0 | -€100 | -99.8% |
| Recurring financial income | 75 | €100 | €0 | -€100 | -99.8% |
| Financial charges | 65/66B | €273 | €3,983 | +€3,711 | +1361.6% |
| Recurring financial charges | 65 | €273 | €521 | +€249 | +91.3% |
| Non-recurring financial charges | 66B | - | €3,462 | +€3,462 | |
| Profit (loss) for the period before taxes | 9903 | €51,382 | €75,424 | +€24,042 | +46.8% |
| Income taxes | 67/77 | €3,359 | €10,477 | +€7,118 | +211.9% |
| Profit (loss) for the period | 9904 | €48,023 | €64,947 | +€16,924 | +35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €48,023 | €64,947 | +€16,924 | +35.2% |
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 8 October 2026 via checked.be.