H Fine Art: 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 Fine Art
Largest movements
- Stocks and contracts +€113,437
up €113,437 (+129%), from €87,769 to €201,206
- Tangible fixed assets -€7,619
down €7,619 (-15.4%), from €49,541 to €41,922
of which Furniture and vehicles: -€6,561
- Receivables within one year +€6,098
up €6,098 (+200%), from €3,052 to €9,150
of which Trade receivables: +€3,756
- Other debts +€166,930
up €166,930 (+115%), from €145,250 to €312,180
- Profit (loss) carried forward -€50,115
down €50,115 (-2,076%), from -€2,414 to -€52,529
- Trade debts -€5,716
down €5,716 (-55.4%), from €10,313 to €4,597
- Gross operating margin -€34,845
down €34,845, from €14,758 to -€20,087
- Depreciation +€8,431
up €8,431 (+1,324%), from €637 to €9,068
- Other operating charges +€4,494
up €4,494 (+27.8%), from €16,176 to €20,670
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 | €156,960 | €268,160 | +€111,199 | +70.8% |
| Fixed assets | 21/28 | €49,541 | €41,922 | -€7,619 | -15.4% |
| Tangible fixed assets | 22/27 | €49,541 | €41,922 | -€7,619 | -15.4% |
| Plant, machinery and equipment | 23 | €10,352 | €9,294 | -€1,059 | -10.2% |
| Furniture and vehicles | 24 | €39,189 | €32,628 | -€6,561 | -16.7% |
| Current assets | 29/58 | €107,419 | €226,238 | +€118,819 | +111% |
| Stocks and contracts in progress | 3 | €87,769 | €201,206 | +€113,437 | +129% |
| Stocks | 30/36 | €87,769 | €201,206 | +€113,437 | +129% |
| Amounts receivable within one year | 40/41 | €3,052 | €9,150 | +€6,098 | +200% |
| Trade receivables | 40 | - | €3,756 | +€3,756 | |
| Other amounts receivable | 41 | €3,052 | €5,394 | +€2,342 | +76.7% |
| Cash at bank and in hand | 54/58 | €10,365 | €9,194 | -€1,171 | -11.3% |
| Deferred charges and accrued income | 490/1 | €6,233 | €6,688 | +€455 | +7.3% |
| Total equity and liabilities | 10/49 | €156,960 | €268,160 | +€111,199 | +70.8% |
| Equity | 10/15 | €586 | -€49,529 | -€50,115 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,414 | -€52,529 | -€50,115 | -2,076% |
| Amounts payable | 17/49 | €156,375 | €317,689 | +€161,314 | +103% |
| Amounts payable within one year | 42/48 | €156,343 | €317,689 | +€161,346 | +103% |
| Trade debts | 44 | €10,313 | €4,597 | -€5,716 | -55.4% |
| Suppliers | 440/4 | €10,313 | €4,597 | -€5,716 | -55.4% |
| Taxes, remuneration and social security | 45 | €780 | €912 | +€132 | +16.9% |
| Taxes | 450/3 | €780 | €912 | +€132 | +16.9% |
| Other amounts payable | 47/48 | €145,250 | €312,180 | +€166,930 | +115% |
| Accrued charges and deferred income | 492/3 | €32 | - | -€32 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €637 | €9,068 | +€8,431 | +1,324% |
| Other operating charges | 640/8 | €16,176 | €20,670 | +€4,494 | +27.8% |
| Gross operating margin | 9900 | €14,758 | -€20,087 | -€34,845 | |
| Operating profit (loss) | 9901 | -€2,054 | -€49,825 | -€47,771 | -2,325% |
| Financial income | 75/76B | - | €92 | +€92 | |
| Recurring financial income | 75 | - | €92 | +€92 | |
| Financial charges | 65/66B | €360 | €246 | -€114 | -31.6% |
| Recurring financial charges | 65 | €360 | €246 | -€114 | -31.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,414 | -€49,979 | -€47,565 | -1,970% |
| Income taxes | 67/77 | - | €136 | +€136 | |
| Profit (loss) for the period | 9904 | -€2,414 | -€50,115 | -€47,700 | -1,976% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,414 | -€50,115 | -€47,700 | -1,976% |
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 25 October 2026 via checked.be.