H et CO: 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 et CO
Largest movements
- Cash +€56,617
up €56,617 (+57.2%), from €99,054 to €155,671
mainly Other debts (+€104,338) and Net result for the year (+€53,914)
- Tangible fixed assets -€33,545
down €33,545 (-41.1%), from €81,706 to €48,160
of which Furniture and vehicles: -€30,257
- Receivables within one year +€19,387
up €19,387 (+3.7%), from €520,159 to €539,546
of which Other amounts receivable: +€19,387
- Other debts +€104,338
new in 2025: €104,338
- Reserves -€50,424
down €50,424 (-9.9%), from €507,188 to €456,763
of which Distributable reserves: -€50,424
- Gross operating margin -€45,489
down €45,489 (-11.9%), from €381,912 to €336,423
- Taxes -€16,963
down €16,963 (-40.4%), from €42,020 to €25,057
- Staff costs +€8,598
up €8,598 (+4.0%), from €212,752 to €221,350
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 | €828,675 | €871,134 | +€42,459 | +5.1% |
| Fixed assets | 21/28 | €81,706 | €48,160 | -€33,545 | -41.1% |
| Tangible fixed assets | 22/27 | €81,706 | €48,160 | -€33,545 | -41.1% |
| Plant, machinery and equipment | 23 | €6,213 | €3,996 | -€2,216 | -35.7% |
| Furniture and vehicles | 24 | €73,813 | €43,555 | -€30,257 | -41.0% |
| Other tangible fixed assets | 26 | €1,680 | €609 | -€1,072 | -63.8% |
| Current assets | 29/58 | €746,970 | €822,974 | +€76,004 | +10.2% |
| Amounts receivable after more than one year | 29 | €127,756 | €127,756 | = | 0.0% |
| Other amounts receivable | 291 | €127,756 | €127,756 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €520,159 | €539,546 | +€19,387 | +3.7% |
| Trade receivables | 40 | €7,000 | €7,000 | = | 0.0% |
| Other amounts receivable | 41 | €513,159 | €532,546 | +€19,387 | +3.8% |
| Cash at bank and in hand | 54/58 | €99,054 | €155,671 | +€56,617 | +57.2% |
| Total equity and liabilities | 10/49 | €828,675 | €871,134 | +€42,459 | +5.1% |
| Equity | 10/15 | €784,920 | €734,496 | -€50,424 | -6.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €507,188 | €456,763 | -€50,424 | -9.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €501,038 | €450,613 | -€50,424 | -10.1% |
| Profit (loss) carried forward | 14 | €216,233 | €216,233 | = | 0.0% |
| Amounts payable | 17/49 | €43,755 | €136,638 | +€92,883 | +212% |
| Amounts payable within one year | 42/48 | €43,755 | €136,638 | +€92,883 | +212% |
| Current portion of amounts payable after more than one year | 42 | €8,150 | - | -€8,150 | |
| Trade debts | 44 | - | €453 | +€453 | |
| Suppliers | 440/4 | - | €453 | +€453 | |
| Taxes, remuneration and social security | 45 | €35,605 | €31,847 | -€3,758 | -10.6% |
| Taxes | 450/3 | €12,020 | €7,077 | -€4,943 | -41.1% |
| Remuneration and social security | 454/9 | €23,585 | €24,769 | +€1,185 | +5.0% |
| Other amounts payable | 47/48 | - | €104,338 | +€104,338 | |
| Non-recurring operating income | 76A | €7,000 | - | -€7,000 | |
| Remuneration, social security and pensions | 62 | €212,752 | €221,350 | +€8,598 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,843 | €33,545 | +€2,702 | +8.8% |
| Other operating charges | 640/8 | €1,690 | €1,730 | +€40 | +2.4% |
| Gross operating margin | 9900 | €381,912 | €336,423 | -€45,489 | -11.9% |
| Operating profit (loss) | 9901 | €136,628 | €79,798 | -€56,829 | -41.6% |
| Financial charges | 65/66B | €1,567 | €827 | -€740 | -47.2% |
| Recurring financial charges | 65 | €1,567 | €827 | -€740 | -47.2% |
| Profit (loss) for the period before taxes | 9903 | €135,060 | €78,971 | -€56,089 | -41.5% |
| Income taxes | 67/77 | €42,020 | €25,057 | -€16,963 | -40.4% |
| Profit (loss) for the period | 9904 | €93,040 | €53,914 | -€39,126 | -42.1% |
| Profit (loss) for the period to be appropriated | 9905 | €93,040 | €53,914 | -€39,126 | -42.1% |
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 15 October 2026 via checked.be.