H&O: 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&O
Largest movements
- Tangible fixed assets +€72,158
up €72,158 (+5,017%), from €1,438 to €73,596
of which Furniture and vehicles: +€68,140
- Receivables within one year +€69,094
up €69,094 (+140%), from €49,280 to €118,374
of which Trade receivables: +€59,475
- Cash +€64,360
up €64,360 (+679%), from €9,482 to €73,843
mainly Net result for the year (+€88,917) and Debts after one year (+€54,298)
- Reserves +€88,000
up €88,000 (+1,053%), from €8,360 to €96,360
- Debts after one year +€54,298
new in 2025: €54,298
- Tax, wage and social debts +€47,968
up €47,968 (+697%), from €6,878 to €54,846
of which Taxes: +€39,650
- Current portion of long-term debt +€16,295
new in 2025: €16,295
- Gross operating margin +€268,268
up €268,268 (+673%), from €39,874 to €308,142
- Staff costs +€122,717
up €122,717 (+466%), from €26,333 to €149,050
- Taxes +€39,642
up €39,642 (+1,103%), from €3,594 to €43,236
- Depreciation +€12,302
up €12,302 (+247%), from €4,990 to €17,292
- Other operating charges +€3,584
up €3,584 (+166%), from €2,154 to €5,738
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 | €63,429 | €267,786 | +€204,357 | +322% |
| Fixed assets | 21/28 | €1,573 | €73,731 | +€72,158 | +4,586% |
| Tangible fixed assets | 22/27 | €1,438 | €73,596 | +€72,158 | +5,017% |
| Plant, machinery and equipment | 23 | €1,438 | €5,456 | +€4,018 | +279% |
| Furniture and vehicles | 24 | - | €68,140 | +€68,140 | |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €61,855 | €194,054 | +€132,199 | +214% |
| Amounts receivable within one year | 40/41 | €49,280 | €118,374 | +€69,094 | +140% |
| Trade receivables | 40 | €44,952 | €104,428 | +€59,475 | +132% |
| Other amounts receivable | 41 | €4,328 | €13,946 | +€9,618 | +222% |
| Cash at bank and in hand | 54/58 | €9,482 | €73,843 | +€64,360 | +679% |
| Deferred charges and accrued income | 490/1 | €3,093 | €1,838 | -€1,255 | -40.6% |
| Total equity and liabilities | 10/49 | €63,429 | €267,786 | +€204,357 | +322% |
| Equity | 10/15 | €31,837 | €120,753 | +€88,917 | +279% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €8,360 | €96,360 | +€88,000 | +1,053% |
| Distributable reserves | 133 | €8,360 | €96,360 | +€88,000 | +1,053% |
| Profit (loss) carried forward | 14 | €17,277 | €18,193 | +€917 | +5.3% |
| Amounts payable | 17/49 | €31,592 | €147,032 | +€115,440 | +365% |
| Amounts payable after more than one year | 17 | - | €54,298 | +€54,298 | |
| Financial debts | 170/4 | - | €54,298 | +€54,298 | |
| Amounts payable within one year | 42/48 | €31,592 | €92,734 | +€61,142 | +194% |
| Current portion of amounts payable after more than one year | 42 | - | €16,295 | +€16,295 | |
| Trade debts | 44 | €23,722 | €21,593 | -€2,129 | -9.0% |
| Suppliers | 440/4 | €23,722 | €21,593 | -€2,129 | -9.0% |
| Taxes, remuneration and social security | 45 | €6,878 | €54,846 | +€47,968 | +697% |
| Taxes | 450/3 | €3,550 | €43,200 | +€39,650 | +1,117% |
| Remuneration and social security | 454/9 | €3,328 | €11,646 | +€8,318 | +250% |
| Other amounts payable | 47/48 | €992 | - | -€992 | |
| Remuneration, social security and pensions | 62 | €26,333 | €149,050 | +€122,717 | +466% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,990 | €17,292 | +€12,302 | +247% |
| Other operating charges | 640/8 | €2,154 | €5,738 | +€3,584 | +166% |
| Gross operating margin | 9900 | €39,874 | €308,142 | +€268,268 | +673% |
| Operating profit (loss) | 9901 | €6,397 | €136,062 | +€129,665 | +2,027% |
| Financial income | 75/76B | €131 | €237 | +€107 | +81.6% |
| Recurring financial income | 75 | €131 | €237 | +€107 | +81.6% |
| Financial charges | 65/66B | €1,163 | €4,147 | +€2,984 | +257% |
| Recurring financial charges | 65 | €1,163 | €4,147 | +€2,984 | +257% |
| Profit (loss) for the period before taxes | 9903 | €5,364 | €132,152 | +€126,788 | +2,364% |
| Income taxes | 67/77 | €3,594 | €43,236 | +€39,642 | +1,103% |
| Profit (loss) for the period | 9904 | €1,770 | €88,917 | +€87,146 | +4,923% |
| Profit (loss) for the period to be appropriated | 9905 | €1,770 | €88,917 | +€87,146 | +4,923% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.