H en H: 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 en H
Largest movements
- Current investments -€83,493
no longer reported in 2025 (was €83,493)
- Cash +€55,901
up €55,901 (+47.0%), from €119,035 to €174,935
mainly Current investments (+€83,493) and Depreciation (+€44,892)
- Receivables within one year -€21,130
down €21,130 (-91.9%), from €22,999 to €1,869
of which Other amounts receivable: -€10,572
- Tangible fixed assets -€17,823
down €17,823 (-2.0%), from €888,924 to €871,100
of which Land and buildings: -€25,672
- Reserves -€19,018
down €19,018 (-2.4%), from €801,862 to €782,844
of which Tax-exempt reserves: -€13,151
- Debts after one year -€16,667
down €16,667 (-16.0%), from €104,167 to €87,500
- Financial income +€9,583
up €9,583 (+503%), from €1,907 to €11,490
- Depreciation +€4,098
up €4,098 (+10.0%), from €40,794 to €44,892
- Financial charges -€1,114
down €1,114 (-38.5%), from €2,896 to €1,781
- Other operating charges +€310
up €310 (+3.7%), from €8,328 to €8,639
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 | €1,118,998 | €1,058,122 | -€60,876 | -5.4% |
| Fixed assets | 21/28 | €888,924 | €871,100 | -€17,823 | -2.0% |
| Tangible fixed assets | 22/27 | €888,924 | €871,100 | -€17,823 | -2.0% |
| Land and buildings | 22 | €885,589 | €859,917 | -€25,672 | -2.9% |
| Plant, machinery and equipment | 23 | - | €9,067 | +€9,067 | |
| Furniture and vehicles | 24 | €3,335 | €2,117 | -€1,218 | -36.5% |
| Current assets | 29/58 | €230,074 | €187,021 | -€43,053 | -18.7% |
| Amounts receivable within one year | 40/41 | €22,999 | €1,869 | -€21,130 | -91.9% |
| Trade receivables | 40 | €12,427 | €1,869 | -€10,558 | -85.0% |
| Other amounts receivable | 41 | €10,572 | - | -€10,572 | |
| Current investments | 50/53 | €83,493 | - | -€83,493 | |
| Cash at bank and in hand | 54/58 | €119,035 | €174,935 | +€55,901 | +47.0% |
| Deferred charges and accrued income | 490/1 | €4,548 | €10,218 | +€5,670 | +125% |
| Total equity and liabilities | 10/49 | €1,118,998 | €1,058,122 | -€60,876 | -5.4% |
| Equity | 10/15 | €857,638 | €838,620 | -€19,018 | -2.2% |
| Contributions | 10/11 | €55,776 | €55,776 | = | 0.0% |
| Reserves | 13 | €801,862 | €782,844 | -€19,018 | -2.4% |
| Tax-exempt reserves | 132 | €279,940 | €266,790 | -€13,151 | -4.7% |
| Distributable reserves | 133 | €521,922 | €516,054 | -€5,868 | -1.1% |
| Provisions and deferred taxes | 16 | €93,313 | €88,930 | -€4,384 | -4.7% |
| Deferred taxes | 168 | €93,313 | €88,930 | -€4,384 | -4.7% |
| Amounts payable | 17/49 | €168,046 | €130,572 | -€37,474 | -22.3% |
| Amounts payable after more than one year | 17 | €104,167 | €87,500 | -€16,667 | -16.0% |
| Financial debts | 170/4 | €104,167 | €87,500 | -€16,667 | -16.0% |
| Amounts payable within one year | 42/48 | €62,880 | €43,072 | -€19,808 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €16,667 | €16,667 | = | 0.0% |
| Trade debts | 44 | €15,884 | €7,504 | -€8,380 | -52.8% |
| Suppliers | 440/4 | €15,884 | €7,504 | -€8,380 | -52.8% |
| Taxes, remuneration and social security | 45 | €10,194 | €9,801 | -€393 | -3.9% |
| Taxes | 450/3 | €10,194 | €9,801 | -€393 | -3.9% |
| Other amounts payable | 47/48 | €20,135 | €9,101 | -€11,034 | -54.8% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,794 | €44,892 | +€4,098 | +10.0% |
| Other operating charges | 640/8 | €8,328 | €8,639 | +€310 | +3.7% |
| Gross operating margin | 9900 | €20,493 | €20,420 | -€73 | -0.4% |
| Operating profit (loss) | 9901 | -€28,629 | -€33,111 | -€4,482 | -15.7% |
| Financial income | 75/76B | €1,907 | €11,490 | +€9,583 | +503% |
| Recurring financial income | 75 | €1,907 | €11,490 | +€9,583 | +503% |
| Financial charges | 65/66B | €2,896 | €1,781 | -€1,114 | -38.5% |
| Recurring financial charges | 65 | €2,896 | €1,781 | -€1,114 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | -€29,618 | -€23,402 | +€6,216 | +21.0% |
| Transfer from deferred taxes | 780 | €4,384 | €4,384 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€25,234 | -€19,018 | +€6,216 | +24.6% |
| Transfer from tax-exempt reserves | 789 | €13,151 | €13,151 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,083 | -€5,868 | +€6,216 | +51.4% |
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 1 November 2026 via checked.be.