H20 PRODUCTS: what changed
H20 PRODUCTS
Largest movements
- Tangible fixed assets -€19,612
down €19,612 (-35.3%), from €55,626 to €36,014
of which Furniture and vehicles: -€19,092
- Cash +€9,751
up €9,751 (+4.6%), from €213,623 to €223,375
mainly Depreciation (+€19,612) and Net result for the year (+€4,911)
- Receivables within one year -€3,708
down €3,708 (-31.8%), from €11,643 to €7,935
of which Trade receivables: -€6,730
- Debts after one year -€10,227
down €10,227 (-51.7%), from €19,792 to €9,565
- Reserves +€4,911
up €4,911 (+2.2%), from €224,035 to €228,946
- Tax, wage and social debts -€4,714
down €4,714 (-90.0%), from €5,241 to €526
of which Remuneration and social security: -€4,808
- Gross operating margin -€16,146
down €16,146 (-36.1%), from €44,734 to €28,588
- Taxes -€3,239
down €3,239 (-57.3%), from €5,656 to €2,417
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €280,893 | €269,737 | -€11,155 | -4.0% |
| Fixed assets | 21/28 | €55,626 | €36,014 | -€19,612 | -35.3% |
| Tangible fixed assets | 22/27 | €55,626 | €36,014 | -€19,612 | -35.3% |
| Plant, machinery and equipment | 23 | €520 | - | -€520 | |
| Furniture and vehicles | 24 | €55,106 | €36,014 | -€19,092 | -34.6% |
| Current assets | 29/58 | €225,266 | €233,723 | +€8,457 | +3.8% |
| Amounts receivable within one year | 40/41 | €11,643 | €7,935 | -€3,708 | -31.8% |
| Trade receivables | 40 | €6,730 | €0 | -€6,730 | -100% |
| Other amounts receivable | 41 | €4,913 | €7,935 | +€3,022 | +61.5% |
| Cash at bank and in hand | 54/58 | €213,623 | €223,375 | +€9,751 | +4.6% |
| Deferred charges and accrued income | 490/1 | - | €2,413 | +€2,413 | |
| Total equity and liabilities | 10/49 | €280,893 | €269,737 | -€11,155 | -4.0% |
| Equity | 10/15 | €230,235 | €235,146 | +€4,911 | +2.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €224,035 | €228,946 | +€4,911 | +2.2% |
| Distributable reserves | 133 | €224,035 | €228,946 | +€4,911 | +2.2% |
| Amounts payable | 17/49 | €50,657 | €34,591 | -€16,067 | -31.7% |
| Amounts payable after more than one year | 17 | €19,792 | €9,565 | -€10,227 | -51.7% |
| Financial debts | 170/4 | €19,792 | €9,565 | -€10,227 | -51.7% |
| Amounts payable within one year | 42/48 | €30,866 | €25,025 | -€5,840 | -18.9% |
| Current portion of amounts payable after more than one year | 42 | €10,013 | €10,227 | +€213 | +2.1% |
| Trade debts | 44 | €920 | €1,699 | +€779 | +84.6% |
| Suppliers | 440/4 | €920 | €1,699 | +€779 | +84.6% |
| Taxes, remuneration and social security | 45 | €5,241 | €526 | -€4,714 | -90.0% |
| Taxes | 450/3 | €433 | €526 | +€93 | +21.5% |
| Remuneration and social security | 454/9 | €4,808 | €0 | -€4,808 | -100% |
| Other amounts payable | 47/48 | €14,691 | €12,573 | -€2,118 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,612 | €19,612 | = | 0.0% |
| Other operating charges | 640/8 | €1,406 | €1,023 | -€383 | -27.2% |
| Gross operating margin | 9900 | €44,734 | €28,588 | -€16,146 | -36.1% |
| Operating profit (loss) | 9901 | €23,717 | €7,953 | -€15,763 | -66.5% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €850 | €638 | -€211 | -24.9% |
| Recurring financial charges | 65 | €850 | €638 | -€211 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €22,867 | €7,328 | -€15,539 | -68.0% |
| Income taxes | 67/77 | €5,656 | €2,417 | -€3,239 | -57.3% |
| Profit (loss) for the period | 9904 | €17,211 | €4,911 | -€12,300 | -71.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,211 | €4,911 | -€12,300 | -71.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.