H&H ARM: 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 ARM
Largest movements
- Intangible fixed assets -€21,200
down €21,200 (-48.0%), from €44,167 to €22,967
- Receivables within one year -€7,099
down €7,099 (-30.7%), from €23,123 to €16,024
- Cash +€5,565
up €5,565 (+35.9%), from €15,508 to €21,073
mainly Tax, wage and social debts (+€29,715) and Depreciation (+€21,471)
- Deferred charges and accrued income +€1,337
up €1,337 (+68.7%), from €1,946 to €3,283
- Other debts -€45,236
down €45,236 (-26.5%), from €170,709 to €125,473
- Tax, wage and social debts +€29,715
up €29,715 (+454%), from €6,552 to €36,267
of which Taxes: +€19,546
- Profit (loss) carried forward -€21,798
down €21,798 (-19.0%), from -€114,775 to -€136,573
- Trade debts +€15,671
up €15,671 (+32.0%), from €48,991 to €64,662
- Gross operating margin -€18,769
down €18,769 (-23.3%), from €80,460 to €61,691
- Staff costs +€7,808
up €7,808 (+14.7%), from €52,982 to €60,790
- Financial charges -€2,820
down €2,820 (-93.6%), from €3,013 to €192
- Other operating charges -€2,258
down €2,258 (-68.5%), from €3,295 to €1,036
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 | €117,677 | €96,029 | -€21,648 | -18.4% |
| Fixed assets | 21/28 | €72,362 | €50,891 | -€21,471 | -29.7% |
| Intangible fixed assets | 21 | €44,167 | €22,967 | -€21,200 | -48.0% |
| Tangible fixed assets | 22/27 | €1,073 | €802 | -€271 | -25.2% |
| Furniture and vehicles | 24 | €11 | - | -€11 | |
| Leasing and similar rights | 25 | €1,017 | €802 | -€215 | -21.1% |
| Other tangible fixed assets | 26 | €45 | - | -€45 | |
| Financial fixed assets | 28 | €27,122 | €27,122 | = | 0.0% |
| Current assets | 29/58 | €45,315 | €45,138 | -€178 | -0.4% |
| Stocks and contracts in progress | 3 | €4,738 | €4,758 | +€20 | +0.4% |
| Stocks | 30/36 | €4,738 | €4,758 | +€20 | +0.4% |
| Amounts receivable within one year | 40/41 | €23,123 | €16,024 | -€7,099 | -30.7% |
| Trade receivables | 40 | €23,123 | €16,024 | -€7,099 | -30.7% |
| Cash at bank and in hand | 54/58 | €15,508 | €21,073 | +€5,565 | +35.9% |
| Deferred charges and accrued income | 490/1 | €1,946 | €3,283 | +€1,337 | +68.7% |
| Total equity and liabilities | 10/49 | €117,677 | €96,029 | -€21,648 | -18.4% |
| Equity | 10/15 | -€108,575 | -€130,373 | -€21,798 | -20.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€114,775 | -€136,573 | -€21,798 | -19.0% |
| Amounts payable | 17/49 | €226,252 | €226,401 | +€150 | +0.1% |
| Amounts payable within one year | 42/48 | €226,252 | €226,401 | +€150 | +0.1% |
| Trade debts | 44 | €48,991 | €64,662 | +€15,671 | +32.0% |
| Suppliers | 440/4 | €48,991 | €64,662 | +€15,671 | +32.0% |
| Taxes, remuneration and social security | 45 | €6,552 | €36,267 | +€29,715 | +454% |
| Taxes | 450/3 | €4,363 | €23,909 | +€19,546 | +448% |
| Remuneration and social security | 454/9 | €2,189 | €12,358 | +€10,169 | +465% |
| Other amounts payable | 47/48 | €170,709 | €125,473 | -€45,236 | -26.5% |
| Remuneration, social security and pensions | 62 | €52,982 | €60,790 | +€7,808 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,270 | €21,471 | -€799 | -3.6% |
| Other operating charges | 640/8 | €3,295 | €1,036 | -€2,258 | -68.5% |
| Gross operating margin | 9900 | €80,460 | €61,691 | -€18,769 | -23.3% |
| Operating profit (loss) | 9901 | €1,914 | -€21,606 | -€23,520 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €3,013 | €192 | -€2,820 | -93.6% |
| Recurring financial charges | 65 | €3,013 | €192 | -€2,820 | -93.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,098 | -€21,798 | -€20,700 | -1,885% |
| Profit (loss) for the period | 9904 | -€1,098 | -€21,798 | -€20,700 | -1,885% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,098 | -€21,798 | -€20,700 | -1,885% |
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 26 October 2026 via checked.be.