H&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&H
Largest movements
- Receivables within one year +€168,882
up €168,882 (+75.0%), from €225,064 to €393,947
of which Trade receivables: +€147,552
- Tangible fixed assets +€14,656
up €14,656 (+42.9%), from €34,167 to €48,823
of which Plant, machinery and equipment: +€18,813
- Financial fixed assets +€6,550
new in 2025: €6,550
- Advances received +€83,267
new in 2025: €83,267
- Trade debts +€69,627
up €69,627 (+55.4%), from €125,667 to €195,294
- Profit (loss) carried forward +€28,792
up €28,792 (+37.2%), from €77,348 to €106,140
- Tax, wage and social debts +€16,347
up €16,347 (+100%), from €16,330 to €32,677
- Debts after one year -€13,143
down €13,143 (-74.7%), from €17,595 to €4,451
- Staff costs +€206,828
up €206,828 (+100%), from €206,398 to €413,226
- Gross operating margin +€192,080
up €192,080 (+60.2%), from €319,245 to €511,326
- Other operating charges -€43,671
down €43,671 (-77.1%), from €56,656 to €12,985
- Depreciation +€14,194
up €14,194 (+80.7%), from €17,591 to €31,785
- Taxes +€7,665
up €7,665 (+88.3%), from €8,682 to €16,347
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 | €260,295 | €449,411 | +€189,116 | +72.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €34,167 | €55,373 | +€21,206 | +62.1% |
| Tangible fixed assets | 22/27 | €34,167 | €48,823 | +€14,656 | +42.9% |
| Plant, machinery and equipment | 23 | €2,861 | €21,674 | +€18,813 | +658% |
| Furniture and vehicles | 24 | €31,305 | €27,148 | -€4,157 | -13.3% |
| Financial fixed assets | 28 | - | €6,550 | +€6,550 | |
| Current assets | 29/58 | €226,128 | €394,038 | +€167,910 | +74.3% |
| Amounts receivable within one year | 40/41 | €225,064 | €393,947 | +€168,882 | +75.0% |
| Trade receivables | 40 | €136,927 | €284,479 | +€147,552 | +108% |
| Other amounts receivable | 41 | €88,137 | €109,468 | +€21,331 | +24.2% |
| Cash at bank and in hand | 54/58 | €1,064 | €91 | -€973 | -91.4% |
| Total equity and liabilities | 10/49 | €260,295 | €449,411 | +€189,116 | +72.7% |
| Equity | 10/15 | €82,348 | €111,140 | +€28,792 | +35.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,348 | €106,140 | +€28,792 | +37.2% |
| Amounts payable | 17/49 | €177,947 | €338,270 | +€160,324 | +90.1% |
| Amounts payable after more than one year | 17 | €17,595 | €4,451 | -€13,143 | -74.7% |
| Financial debts | 170/4 | €17,595 | €4,451 | -€13,143 | -74.7% |
| Amounts payable within one year | 42/48 | €160,352 | €333,819 | +€173,467 | +108% |
| Current portion of amounts payable after more than one year | 42 | €12,835 | €17,061 | +€4,226 | +32.9% |
| Trade debts | 44 | €125,667 | €195,294 | +€69,627 | +55.4% |
| Suppliers | 440/4 | €125,667 | €195,294 | +€69,627 | +55.4% |
| Advances received on contracts in progress | 46 | - | €83,267 | +€83,267 | |
| Taxes, remuneration and social security | 45 | €16,330 | €32,677 | +€16,347 | +100% |
| Taxes | 450/3 | €16,330 | €32,677 | +€16,347 | +100% |
| Other amounts payable | 47/48 | €5,520 | €5,520 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €206,398 | €413,226 | +€206,828 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,591 | €31,785 | +€14,194 | +80.7% |
| Other operating charges | 640/8 | €56,656 | €12,985 | -€43,671 | -77.1% |
| Non-recurring operating charges | 66A | €4,096 | - | -€4,096 | |
| Gross operating margin | 9900 | €319,245 | €511,326 | +€192,080 | +60.2% |
| Operating profit (loss) | 9901 | €34,504 | €53,329 | +€18,824 | +54.6% |
| Financial income | 75/76B | €2,731 | - | -€2,731 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €2,731 | - | -€2,731 | |
| Financial charges | 65/66B | €5,912 | €8,189 | +€2,278 | +38.5% |
| Recurring financial charges | 65 | €5,912 | €8,189 | +€2,278 | +38.5% |
| Profit (loss) for the period before taxes | 9903 | €31,324 | €45,139 | +€13,815 | +44.1% |
| Income taxes | 67/77 | €8,682 | €16,347 | +€7,665 | +88.3% |
| Profit (loss) for the period | 9904 | €22,642 | €28,792 | +€6,150 | +27.2% |
| Profit (loss) for the period to be appropriated | 9905 | €22,642 | €28,792 | +€6,150 | +27.2% |
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 18 October 2026 via checked.be.