H-Solution: what changed
Two fiscal 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-Solution
Largest movements
- Receivables within one year -€228,440
down €228,440 (-67.4%), from €338,812 to €110,372
of which Trade receivables: -€288,488
- Cash -€57,334
down €57,334 (-39.3%), from €145,901 to €88,567
mainly Trade debts (-€286,413) and Investment in fixed assets (net) (-€52,565)
- Stocks and contracts +€46,193
up €46,193 (+36.8%), from €125,444 to €171,638
- Tangible fixed assets +€39,608
up €39,608 (+389.8%), from €10,161 to €49,770
- Financial fixed assets +€6,900
up €6,900 (+163.7%), from €4,215 to €11,115
- Trade debts -€286,413
down €286,413 (-65.4%), from €437,963 to €151,550
- Profit (loss) carried forward +€118,754
up €118,754 (+110.2%), from €107,760 to €226,514
- Other debts -€36,615
no longer reported in 2024 (was €36,615)
- Tax, wage and social debts +€11,203
up €11,203 (+50.0%), from €22,389 to €33,591
of which Remuneration and social security: +€12,624
- Gross operating margin +€39,083
up €39,083 (+18.8%), from €208,233 to €247,316
- Staff costs +€11,341
up €11,341 (+12.5%), from €90,557 to €101,898
- Taxes +€4,359
up €4,359 (+43.6%), from €10,000 to €14,359
- Other operating charges +€3,250
up €3,250 (+116.7%), from €2,785 to €6,036
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €625,187 | €432,115 | -€193,072 | -30.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €14,376 | €60,885 | +€46,508 | +323.5% |
| Tangible fixed assets | 22/27 | €10,161 | €49,770 | +€39,608 | +389.8% |
| Furniture and vehicles | 24 | €10,161 | €49,770 | +€39,608 | +389.8% |
| Financial fixed assets | 28 | €4,215 | €11,115 | +€6,900 | +163.7% |
| Current assets | 29/58 | €610,810 | €371,230 | -€239,580 | -39.2% |
| Stocks and contracts in progress | 3 | €125,444 | €171,638 | +€46,193 | +36.8% |
| Stocks | 30/36 | €125,444 | €171,638 | +€46,193 | +36.8% |
| Amounts receivable within one year | 40/41 | €338,812 | €110,372 | -€228,440 | -67.4% |
| Trade receivables | 40 | €313,831 | €25,343 | -€288,488 | -91.9% |
| Other amounts receivable | 41 | €24,981 | €85,030 | +€60,048 | +240.4% |
| Cash at bank and in hand | 54/58 | €145,901 | €88,567 | -€57,334 | -39.3% |
| Deferred charges and accrued income | 490/1 | €653 | €653 | = | 0.0% |
| Total equity and liabilities | 10/49 | €625,187 | €432,115 | -€193,072 | -30.9% |
| Equity | 10/15 | €128,220 | €246,974 | +€118,754 | +92.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,760 | €226,514 | +€118,754 | +110.2% |
| Amounts payable | 17/49 | €496,967 | €185,142 | -€311,826 | -62.7% |
| Amounts payable within one year | 42/48 | €496,967 | €185,142 | -€311,826 | -62.7% |
| Trade debts | 44 | €437,963 | €151,550 | -€286,413 | -65.4% |
| Suppliers | 440/4 | €437,963 | €151,550 | -€286,413 | -65.4% |
| Taxes, remuneration and social security | 45 | €22,389 | €33,591 | +€11,203 | +50.0% |
| Taxes | 450/3 | €11,975 | €10,554 | -€1,421 | -11.9% |
| Remuneration and social security | 454/9 | €10,413 | €23,037 | +€12,624 | +121.2% |
| Other amounts payable | 47/48 | €36,615 | - | -€36,615 | |
| Remuneration, social security and pensions | 62 | €90,557 | €101,898 | +€11,341 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,733 | €6,056 | +€1,323 | +28.0% |
| Other operating charges | 640/8 | €2,785 | €6,036 | +€3,250 | +116.7% |
| Gross operating margin | 9900 | €208,233 | €247,316 | +€39,083 | +18.8% |
| Operating profit (loss) | 9901 | €110,156 | €133,325 | +€23,169 | +21.0% |
| Financial income | 75/76B | €924 | €0 | -€924 | -100.0% |
| Recurring financial income | 75 | €924 | €0 | -€924 | -100.0% |
| Non-recurring financial income | 76B | €924 | €0 | -€924 | -100.0% |
| Financial charges | 65/66B | €233 | €212 | -€21 | -8.9% |
| Recurring financial charges | 65 | €233 | €212 | -€21 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €110,848 | €133,113 | +€22,265 | +20.1% |
| Income taxes | 67/77 | €10,000 | €14,359 | +€4,359 | +43.6% |
| Profit (loss) for the period | 9904 | €100,848 | €118,754 | +€17,906 | +17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €100,848 | €118,754 | +€17,906 | +17.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.