H de L: 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 de L
Largest movements
- Receivables within one year -€22,367
down €22,367 (-79.0%), from €28,296 to €5,929
of which Trade receivables: -€22,957
- Cash +€11,062
up €11,062 (+102%), from €10,819 to €21,880
mainly Receivables within one year (+€22,367) and Depreciation (+€10,051)
- Tangible fixed assets -€10,051
down €10,051 (-31.9%), from €31,546 to €21,496
- Deferred charges and accrued income +€1,501
up €1,501 (+288%), from €520 to €2,022
- Profit (loss) carried forward -€23,691
down €23,691 (-68.5%), from -€34,569 to -€58,259
- Trade debts +€8,940
up €8,940 (+146%), from €6,142 to €15,082
- Other debts -€6,093
down €6,093 (-21.1%), from €28,896 to €22,803
- Short-term financial debts +€824
up €824 (+6,366%), from €13 to €837
- Turnover -€105,708
down €105,708 (-52.5%), from €201,171 to €95,463
- Purchases and services -€72,151
down €72,151 (-38.9%), from €185,247 to €113,096
- Gross operating margin -€28,081
down €28,081 (-80.2%), from €35,005 to €6,924
- Taxes -€7,731
down €7,731 (-97.9%), from €7,896 to €165
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.
Derived cash bridge
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 | €71,270 | €51,415 | -€19,855 | -27.9% |
| Fixed assets | 21/28 | €31,635 | €21,584 | -€10,051 | -31.8% |
| Tangible fixed assets | 22/27 | €31,546 | €21,496 | -€10,051 | -31.9% |
| Land and buildings | 22 | €8,001 | €2,978 | -€5,023 | -62.8% |
| Plant, machinery and equipment | 23 | €22,795 | €18,517 | -€4,277 | -18.8% |
| Furniture and vehicles | 24 | €750 | €0 | -€750 | -100% |
| Financial fixed assets | 28 | €89 | €89 | = | 0.0% |
| Current assets | 29/58 | €39,635 | €29,831 | -€9,804 | -24.7% |
| Amounts receivable within one year | 40/41 | €28,296 | €5,929 | -€22,367 | -79.0% |
| Trade receivables | 40 | €25,705 | €2,748 | -€22,957 | -89.3% |
| Other amounts receivable | 41 | €2,591 | €3,181 | +€590 | +22.8% |
| Cash at bank and in hand | 54/58 | €10,819 | €21,880 | +€11,062 | +102% |
| Deferred charges and accrued income | 490/1 | €520 | €2,022 | +€1,501 | +288% |
| Total equity and liabilities | 10/49 | €71,270 | €51,415 | -€19,855 | -27.9% |
| Equity | 10/15 | €33,631 | €9,941 | -€23,691 | -70.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,569 | -€58,259 | -€23,691 | -68.5% |
| Amounts payable | 17/49 | €37,639 | €41,474 | +€3,836 | +10.2% |
| Amounts payable within one year | 42/48 | €37,639 | €41,474 | +€3,836 | +10.2% |
| Financial debts | 43 | €13 | €837 | +€824 | +6,366% |
| Credit institutions | 430/8 | €13 | €837 | +€824 | +6,366% |
| Trade debts | 44 | €6,142 | €15,082 | +€8,940 | +146% |
| Suppliers | 440/4 | €6,142 | €15,082 | +€8,940 | +146% |
| Taxes, remuneration and social security | 45 | €2,588 | €2,753 | +€165 | +6.4% |
| Taxes | 450/3 | €2,588 | €2,753 | +€165 | +6.4% |
| Other amounts payable | 47/48 | €28,896 | €22,803 | -€6,093 | -21.1% |
| Turnover | 70 | €201,171 | €95,463 | -€105,708 | -52.5% |
| Non-recurring operating income | 76A | - | €1,200 | +€1,200 | |
| Goods, raw materials, services and sundry goods | 60/61 | €185,247 | €113,096 | -€72,151 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,845 | €10,051 | -€795 | -7.3% |
| Other operating charges | 640/8 | €18,289 | €20,012 | +€1,723 | +9.4% |
| Gross operating margin | 9900 | €35,005 | €6,924 | -€28,081 | -80.2% |
| Operating profit (loss) | 9901 | €5,870 | -€23,138 | -€29,008 | |
| Financial income | 75/76B | €5 | €1 | -€4 | -78.9% |
| Recurring financial income | 75 | €5 | €1 | -€5 | -84.8% |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €281 | €389 | +€108 | +38.3% |
| Recurring financial charges | 65 | €281 | €389 | +€108 | +38.3% |
| Profit (loss) for the period before taxes | 9903 | €5,595 | -€23,526 | -€29,120 | |
| Income taxes | 67/77 | €7,896 | €165 | -€7,731 | -97.9% |
| Profit (loss) for the period | 9904 | -€2,301 | -€23,691 | -€21,389 | -929% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,301 | -€23,691 | -€21,389 | -929% |
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 27 October 2026 via checked.be.