H2 Infra: 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.
H2 Infra
Largest movements
- Financial fixed assets +€5.1m
up €5.1m (+461%), from €1.1m to €6.1m
- Stocks and contracts +€735,562
new in 2023: €735,562
- Receivables within one year +€131,682
up €131,682 (+254%), from €51,756 to €183,438
of which Trade receivables: +€111,426
- Contributions +€10.0m
up €10.0m (+197%), from €5.1m to €15.0m
- Other debts -€2.7m
down €2.7m (-90.0%), from €3.0m to €299,730
- Profit (loss) carried forward -€2.3m
down €2.3m (-146%), from -€1.6m to -€3.8m
- Trade debts +€989,071
up €989,071 (+1,607%), from €61,556 to €1.1m
- Purchases and services +€1.5m
up €1.5m (+285%), from €514,897 to €2.0m
- Gross operating margin -€1.4m
down €1.4m (-327%), from -€415,657 to -€1.8m
- Depreciation +€75,177
up €75,177 (+16.4%), from €458,278 to €533,455
- Taxes -€54,048
new in 2023: -€54,048
- Turnover +€25,679
up €25,679 (+25.9%), from €99,240 to €124,919
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,577,883 | €12,571,893 | +€6.0m | +91.1% |
| Fixed assets | 21/28 | €6,322,179 | €11,410,396 | +€5.1m | +80.5% |
| Tangible fixed assets | 22/27 | €5,227,392 | €5,265,609 | +€38,217 | +0.7% |
| Land and buildings | 22 | €4,198,104 | €3,731,931 | -€466,172 | -11.1% |
| Furniture and vehicles | 24 | €790 | €915,123 | +€914,333 | +115,757% |
| Assets under construction and advance payments | 27 | €1,028,499 | €618,555 | -€409,944 | -39.9% |
| Financial fixed assets | 28 | €1,094,787 | €6,144,787 | +€5.1m | +461% |
| Current assets | 29/58 | €255,704 | €1,161,496 | +€905,793 | +354% |
| Amounts receivable after more than one year | 29 | €162,392 | €216,440 | +€54,048 | +33.3% |
| Other amounts receivable | 291 | €162,392 | €216,440 | +€54,048 | +33.3% |
| Stocks and contracts in progress | 3 | - | €735,562 | +€735,562 | |
| Stocks | 30/36 | - | €735,562 | +€735,562 | |
| Amounts receivable within one year | 40/41 | €51,756 | €183,438 | +€131,682 | +254% |
| Trade receivables | 40 | €32,790 | €144,216 | +€111,426 | +340% |
| Other amounts receivable | 41 | €18,965 | €39,222 | +€20,257 | +107% |
| Cash at bank and in hand | 54/58 | €290 | €3,998 | +€3,708 | +1,278% |
| Deferred charges and accrued income | 490/1 | €41,266 | €22,059 | -€19,207 | -46.5% |
| Total equity and liabilities | 10/49 | €6,577,883 | €12,571,893 | +€6.0m | +91.1% |
| Equity | 10/15 | €3,502,383 | €11,215,799 | +€7.7m | +220% |
| Contributions | 10/11 | €5,061,500 | €15,046,500 | +€10.0m | +197% |
| Capital | 10 | €5,061,500 | €15,046,500 | +€10.0m | +197% |
| Issued capital | 100 | €5,061,500 | €15,046,500 | +€10.0m | +197% |
| Profit (loss) carried forward | 14 | -€1,559,117 | -€3,830,701 | -€2.3m | -146% |
| Amounts payable | 17/49 | €3,075,500 | €1,356,094 | -€1.7m | -55.9% |
| Amounts payable within one year | 42/48 | €3,075,417 | €1,350,357 | -€1.7m | -56.1% |
| Trade debts | 44 | €61,556 | €1,050,627 | +€989,071 | +1,607% |
| Suppliers | 440/4 | €61,556 | €1,050,627 | +€989,071 | +1,607% |
| Taxes, remuneration and social security | 45 | €2,532 | - | -€2,532 | |
| Taxes | 450/3 | €2,532 | - | -€2,532 | |
| Other amounts payable | 47/48 | €3,011,329 | €299,730 | -€2.7m | -90.0% |
| Accrued charges and deferred income | 492/3 | €83 | €5,738 | +€5,655 | +6,830% |
| Turnover | 70 | €99,240 | €124,919 | +€25,679 | +25.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €514,897 | €1,980,301 | +€1.5m | +285% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €458,278 | €533,455 | +€75,177 | +16.4% |
| Other operating charges | 640/8 | €1,505 | €16,148 | +€14,644 | +973% |
| Gross operating margin | 9900 | -€415,657 | -€1,773,018 | -€1.4m | -327% |
| Operating profit (loss) | 9901 | -€875,440 | -€2,322,622 | -€1.4m | -165% |
| Financial income | 75/76B | €332 | €67 | -€265 | -79.8% |
| Recurring financial income | 75 | €332 | €67 | -€265 | -79.8% |
| Financial charges | 65/66B | €23,280 | €3,078 | -€20,201 | -86.8% |
| Recurring financial charges | 65 | €23,280 | €3,078 | -€20,201 | -86.8% |
| Profit (loss) for the period before taxes | 9903 | -€898,388 | -€2,325,633 | -€1.4m | -159% |
| Income taxes | 67/77 | - | -€54,048 | -€54,048 | |
| Profit (loss) for the period | 9904 | -€898,388 | -€2,271,585 | -€1.4m | -153% |
| Profit (loss) for the period to be appropriated | 9905 | -€898,388 | -€2,271,585 | -€1.4m | -153% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.