H-FIVE: 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-FIVE
Largest movements
- Cash +€16,342
up €16,342 (+90.2%), from €18,111 to €34,453
mainly Net result for the year (+€12,725) and Other debts (+€12,310)
- Receivables within one year +€3,208
up €3,208 (+11.7%), from €27,371 to €30,579
of which Trade receivables: +€1,952
- Tangible fixed assets -€911
down €911 (-34.7%), from €2,624 to €1,713
- Reserves +€12,725
up €12,725 (+110%), from €11,565 to €24,290
of which Distributable reserves: +€12,725
- Other debts +€12,310
up €12,310 (+90.9%), from €13,544 to €25,855
- Tax, wage and social debts -€6,703
down €6,703 (-64.8%), from €10,351 to €3,648
- Gross operating margin -€10,213
down €10,213 (-33.8%), from €30,240 to €20,028
- Taxes -€2,742
down €2,742 (-32.3%), from €8,494 to €5,752
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 | €48,106 | €66,744 | +€18,639 | +38.7% |
| Fixed assets | 21/28 | €2,624 | €1,713 | -€911 | -34.7% |
| Tangible fixed assets | 22/27 | €2,624 | €1,713 | -€911 | -34.7% |
| Furniture and vehicles | 24 | €2,624 | €1,713 | -€911 | -34.7% |
| Current assets | 29/58 | €45,481 | €65,031 | +€19,550 | +43.0% |
| Amounts receivable within one year | 40/41 | €27,371 | €30,579 | +€3,208 | +11.7% |
| Trade receivables | 40 | €27,371 | €29,323 | +€1,952 | +7.1% |
| Other amounts receivable | 41 | - | €1,256 | +€1,256 | |
| Cash at bank and in hand | 54/58 | €18,111 | €34,453 | +€16,342 | +90.2% |
| Total equity and liabilities | 10/49 | €48,106 | €66,744 | +€18,639 | +38.7% |
| Equity | 10/15 | €23,965 | €36,690 | +€12,725 | +53.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €11,565 | €24,290 | +€12,725 | +110% |
| Non-distributable reserves | 130/1 | €1,479 | €1,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,479 | €1,479 | = | 0.0% |
| Distributable reserves | 133 | €10,087 | €22,812 | +€12,725 | +126% |
| Amounts payable | 17/49 | €24,140 | €30,054 | +€5,914 | +24.5% |
| Amounts payable within one year | 42/48 | €24,140 | €30,054 | +€5,914 | +24.5% |
| Trade debts | 44 | €245 | €551 | +€306 | +125% |
| Suppliers | 440/4 | €245 | €551 | +€306 | +125% |
| Taxes, remuneration and social security | 45 | €10,351 | €3,648 | -€6,703 | -64.8% |
| Taxes | 450/3 | €10,351 | €3,648 | -€6,703 | -64.8% |
| Other amounts payable | 47/48 | €13,544 | €25,855 | +€12,310 | +90.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €666 | €911 | +€245 | +36.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €30,240 | €20,028 | -€10,213 | -33.8% |
| Operating profit (loss) | 9901 | €29,187 | €18,717 | -€10,470 | -35.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €240 | €240 | = | 0.0% |
| Recurring financial charges | 65 | €240 | €240 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €28,947 | €18,477 | -€10,470 | -36.2% |
| Income taxes | 67/77 | €8,494 | €5,752 | -€2,742 | -32.3% |
| Profit (loss) for the period | 9904 | €20,453 | €12,725 | -€7,728 | -37.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,453 | €12,725 | -€7,728 | -37.8% |
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.