H-ENT: 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-ENT
Largest movements
- Cash +€114,515
up €114,515 (+46.4%), from €246,853 to €361,368
mainly Net result for the year (+€501,780) and Debts after one year (+€235,300)
- Current investments +€109,639
up €109,639 (+43.9%), from €249,752 to €359,392
- Receivables within one year +€72,846
up €72,846 (+23.6%), from €308,566 to €381,412
of which Other amounts receivable: +€72,846
- Tangible fixed assets -€36,629
down €36,629 (-11.1%), from €331,051 to €294,422
of which Furniture and vehicles: -€29,244
- Debts after one year +€235,300
up €235,300 (+64.5%), from €365,000 to €600,300
- Profit (loss) carried forward -€164,740
down €164,740 (-42.6%), from €386,747 to €222,008
- Reserves +€90,000
up €90,000 (+30.0%), from €300,000 to €390,000
- Other debts +€82,500
up €82,500 (+25.5%), from €324,035 to €406,535
- Gross operating margin +€34,624
up €34,624 (+4.5%), from €768,166 to €802,790
- Depreciation +€18,839
up €18,839 (+24.3%), from €77,625 to €96,463
- Taxes +€9,328
up €9,328 (+5.6%), from €167,062 to €176,391
- Financial charges +€8,636
up €8,636 (+33.2%), from €26,011 to €34,646
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 | €1,448,660 | €1,700,472 | +€251,813 | +17.4% |
| Fixed assets | 21/28 | €625,206 | €573,716 | -€51,490 | -8.2% |
| Intangible fixed assets | 21 | €294,155 | €279,294 | -€14,861 | -5.1% |
| Tangible fixed assets | 22/27 | €331,051 | €294,422 | -€36,629 | -11.1% |
| Plant, machinery and equipment | 23 | €9,512 | €8,558 | -€954 | -10.0% |
| Furniture and vehicles | 24 | €125,899 | €96,655 | -€29,244 | -23.2% |
| Leasing and similar rights | 25 | €195,640 | €189,210 | -€6,430 | -3.3% |
| Current assets | 29/58 | €823,453 | €1,126,756 | +€303,303 | +36.8% |
| Amounts receivable within one year | 40/41 | €308,566 | €381,412 | +€72,846 | +23.6% |
| Trade receivables | 40 | €1,828 | €1,828 | = | 0.0% |
| Other amounts receivable | 41 | €306,739 | €379,585 | +€72,846 | +23.7% |
| Current investments | 50/53 | €249,752 | €359,392 | +€109,639 | +43.9% |
| Cash at bank and in hand | 54/58 | €246,853 | €361,368 | +€114,515 | +46.4% |
| Deferred charges and accrued income | 490/1 | €18,282 | €24,584 | +€6,302 | +34.5% |
| Total equity and liabilities | 10/49 | €1,448,660 | €1,700,472 | +€251,813 | +17.4% |
| Equity | 10/15 | €711,747 | €637,008 | -€74,740 | -10.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €300,000 | €390,000 | +€90,000 | +30.0% |
| Distributable reserves | 133 | €300,000 | €390,000 | +€90,000 | +30.0% |
| Profit (loss) carried forward | 14 | €386,747 | €222,008 | -€164,740 | -42.6% |
| Amounts payable | 17/49 | €736,912 | €1,063,465 | +€326,552 | +44.3% |
| Amounts payable after more than one year | 17 | €365,000 | €600,300 | +€235,300 | +64.5% |
| Financial debts | 170/4 | €365,000 | €600,300 | +€235,300 | +64.5% |
| Amounts payable within one year | 42/48 | €353,115 | €437,485 | +€84,370 | +23.9% |
| Trade debts | 44 | €1,497 | €2,571 | +€1,074 | +71.7% |
| Suppliers | 440/4 | €1,497 | €2,571 | +€1,074 | +71.7% |
| Taxes, remuneration and social security | 45 | €27,583 | €28,379 | +€797 | +2.9% |
| Taxes | 450/3 | €20,703 | €28,379 | +€7,676 | +37.1% |
| Remuneration and social security | 454/9 | €6,880 | - | -€6,880 | |
| Other amounts payable | 47/48 | €324,035 | €406,535 | +€82,500 | +25.5% |
| Accrued charges and deferred income | 492/3 | €18,798 | €25,680 | +€6,882 | +36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,625 | €96,463 | +€18,839 | +24.3% |
| Other operating charges | 640/8 | €2,163 | €1,764 | -€398 | -18.4% |
| Gross operating margin | 9900 | €768,166 | €802,790 | +€34,624 | +4.5% |
| Operating profit (loss) | 9901 | €688,378 | €704,562 | +€16,184 | +2.4% |
| Financial income | 75/76B | €4,570 | €8,255 | +€3,685 | +80.6% |
| Recurring financial income | 75 | €4,570 | €8,255 | +€3,685 | +80.6% |
| Financial charges | 65/66B | €26,011 | €34,646 | +€8,636 | +33.2% |
| Recurring financial charges | 65 | €26,011 | €34,646 | +€8,636 | +33.2% |
| Profit (loss) for the period before taxes | 9903 | €666,937 | €678,171 | +€11,234 | +1.7% |
| Income taxes | 67/77 | €167,062 | €176,391 | +€9,328 | +5.6% |
| Profit (loss) for the period | 9904 | €499,875 | €501,780 | +€1,905 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €499,875 | €501,780 | +€1,905 | +0.4% |
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 9 October 2026 via checked.be.