H-TRACK: 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-TRACK
Largest movements
- Cash -€80,040
down €80,040 (-97.9%), from €81,744 to €1,704
mainly Contributions, distributions and other (-€62,000) and Debts after one year (-€22,147)
- Tangible fixed assets -€17,573
down €17,573 (-25.9%), from €67,756 to €50,183
of which Furniture and vehicles: -€16,487
- Receivables within one year +€2,241
up €2,241 (+12.7%), from €17,585 to €19,825
of which Other amounts receivable: +€1,974
- Contributions -€62,000
no longer reported in 2025 (was €62,000)
- Debts after one year -€22,147
down €22,147 (-44.2%), from €50,123 to €27,975
- Trade debts -€9,318
down €9,318 (-74.1%), from €12,569 to €3,251
- Current portion of long-term debt -€7,704
down €7,704 (-25.8%), from €29,852 to €22,147
- Tax, wage and social debts +€4,958
up €4,958 (+112.3%), from €4,415 to €9,373
of which Remuneration and social security: +€5,390
- Gross operating margin -€53,438
down €53,438 (-70.1%), from €76,209 to €22,770
- Depreciation -€16,984
down €16,984 (-49.1%), from €34,557 to €17,573
- Other operating charges -€2,540
down €2,540 (-97.7%), from €2,600 to €60
- Financial charges -€2,235
down €2,235 (-39.1%), from €5,714 to €3,479
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.
Cash bridge derived
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 | €169,886 | €73,851 | -€96,034 | -56.5% |
| Fixed assets | 21/28 | €67,756 | €50,183 | -€17,573 | -25.9% |
| Tangible fixed assets | 22/27 | €67,756 | €50,183 | -€17,573 | -25.9% |
| Plant, machinery and equipment | 23 | €3,258 | €2,172 | -€1,086 | -33.3% |
| Furniture and vehicles | 24 | €64,498 | €48,011 | -€16,487 | -25.6% |
| Current assets | 29/58 | €102,130 | €23,668 | -€78,461 | -76.8% |
| Amounts receivable within one year | 40/41 | €17,585 | €19,825 | +€2,241 | +12.7% |
| Trade receivables | 40 | €16,128 | €16,395 | +€267 | +1.7% |
| Other amounts receivable | 41 | €1,457 | €3,431 | +€1,974 | +135.5% |
| Cash at bank and in hand | 54/58 | €81,744 | €1,704 | -€80,040 | -97.9% |
| Deferred charges and accrued income | 490/1 | €2,801 | €2,139 | -€662 | -23.6% |
| Total equity and liabilities | 10/49 | €169,886 | €73,851 | -€96,034 | -56.5% |
| Equity | 10/15 | €66,662 | €5,491 | -€61,171 | -91.8% |
| Contributions | 10/11 | €62,000 | - | -€62,000 | |
| Reserves | 13 | €4,662 | €5,491 | +€829 | +17.8% |
| Non-distributable reserves | 130/1 | €106 | €106 | = | 0.0% |
| Reserves not available under the articles | 1311 | €106 | €106 | = | 0.0% |
| Distributable reserves | 133 | €4,556 | €5,386 | +€829 | +18.2% |
| Amounts payable | 17/49 | €103,224 | €68,360 | -€34,863 | -33.8% |
| Amounts payable after more than one year | 17 | €50,123 | €27,975 | -€22,147 | -44.2% |
| Financial debts | 170/4 | €50,123 | €27,975 | -€22,147 | -44.2% |
| Amounts payable within one year | 42/48 | €53,101 | €40,385 | -€12,716 | -23.9% |
| Current portion of amounts payable after more than one year | 42 | €29,852 | €22,147 | -€7,704 | -25.8% |
| Trade debts | 44 | €12,569 | €3,251 | -€9,318 | -74.1% |
| Suppliers | 440/4 | €12,569 | €3,251 | -€9,318 | -74.1% |
| Taxes, remuneration and social security | 45 | €4,415 | €9,373 | +€4,958 | +112.3% |
| Taxes | 450/3 | €1,720 | €1,288 | -€432 | -25.1% |
| Remuneration and social security | 454/9 | €2,695 | €8,085 | +€5,390 | +200.0% |
| Other amounts payable | 47/48 | €6,266 | €5,614 | -€652 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,557 | €17,573 | -€16,984 | -49.1% |
| Other operating charges | 640/8 | €2,600 | €60 | -€2,540 | -97.7% |
| Non-recurring operating charges | 66A | - | €746 | +€746 | |
| Gross operating margin | 9900 | €76,209 | €22,770 | -€53,438 | -70.1% |
| Operating profit (loss) | 9901 | €39,052 | €4,391 | -€34,661 | -88.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €5,714 | €3,479 | -€2,235 | -39.1% |
| Recurring financial charges | 65 | €5,714 | €3,479 | -€2,235 | -39.1% |
| Profit (loss) for the period before taxes | 9903 | €33,338 | €912 | -€32,426 | -97.3% |
| Income taxes | 67/77 | €456 | €83 | -€373 | -81.8% |
| Profit (loss) for the period | 9904 | €32,882 | €829 | -€32,053 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,882 | €829 | -€32,053 | -97.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.