H2020 SRL: 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.
H2020 SRL
Largest movements
- Receivables within one year +€110,501
up €110,501 (+170%), from €65,021 to €175,522
of which Trade receivables: +€112,415
- Cash -€5,393
down €5,393 (-91.4%), from €5,897 to €504
mainly Receivables within one year (-€110,501) and Stocks and contracts (-€4,500)
- Stocks and contracts +€4,500
up €4,500 (+12.7%), from €35,375 to €39,875
- Trade debts +€72,235
up €72,235 (+159%), from €45,374 to €117,609
- Other debts +€27,248
up €27,248 (+645%), from €4,223 to €31,471
- Profit (loss) carried forward +€8,650
up €8,650 (+20.7%), from €41,837 to €50,487
- Purchases and services +€116,503
up €116,503 (+18.3%), from €635,541 to €752,044
- Turnover +€100,183
up €100,183 (+14.7%), from €680,908 to €781,091
- Gross operating margin -€15,863
down €15,863 (-28.9%), from €54,919 to €39,056
- Staff costs +€13,223
up €13,223 (+104%), from €12,749 to €25,972
- Taxes -€10,579
down €10,579 (-97.6%), from €10,836 to €257
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 | €115,726 | €223,560 | +€107,835 | +93.2% |
| Fixed assets | 21/28 | €9,432 | €7,659 | -€1,773 | -18.8% |
| Tangible fixed assets | 22/27 | €4,432 | €2,659 | -€1,773 | -40.0% |
| Plant, machinery and equipment | 23 | €3,364 | €2,659 | -€705 | -21.0% |
| Furniture and vehicles | 24 | €1,068 | - | -€1,068 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €106,294 | €215,901 | +€109,608 | +103% |
| Stocks and contracts in progress | 3 | €35,375 | €39,875 | +€4,500 | +12.7% |
| Stocks | 30/36 | €35,375 | €39,875 | +€4,500 | +12.7% |
| Amounts receivable within one year | 40/41 | €65,021 | €175,522 | +€110,501 | +170% |
| Trade receivables | 40 | €63,108 | €175,522 | +€112,415 | +178% |
| Other amounts receivable | 41 | €1,914 | - | -€1,914 | |
| Cash at bank and in hand | 54/58 | €5,897 | €504 | -€5,393 | -91.4% |
| Total equity and liabilities | 10/49 | €115,726 | €223,560 | +€107,835 | +93.2% |
| Equity | 10/15 | €46,837 | €55,487 | +€8,650 | +18.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,837 | €50,487 | +€8,650 | +20.7% |
| Amounts payable | 17/49 | €68,889 | €168,074 | +€99,185 | +144% |
| Amounts payable within one year | 42/48 | €68,889 | €168,074 | +€99,185 | +144% |
| Trade debts | 44 | €45,374 | €117,609 | +€72,235 | +159% |
| Suppliers | 440/4 | €45,374 | €117,609 | +€72,235 | +159% |
| Taxes, remuneration and social security | 45 | €19,292 | €18,994 | -€298 | -1.5% |
| Taxes | 450/3 | €18,581 | €13,831 | -€4,750 | -25.6% |
| Remuneration and social security | 454/9 | €711 | €5,164 | +€4,452 | +626% |
| Other amounts payable | 47/48 | €4,223 | €31,471 | +€27,248 | +645% |
| Turnover | 70 | €680,908 | €781,091 | +€100,183 | +14.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €635,541 | €752,044 | +€116,503 | +18.3% |
| Remuneration, social security and pensions | 62 | €12,749 | €25,972 | +€13,223 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,235 | €705 | -€530 | -42.9% |
| Other operating charges | 640/8 | €140 | €2,748 | +€2,608 | +1,865% |
| Gross operating margin | 9900 | €54,919 | €39,056 | -€15,863 | -28.9% |
| Operating profit (loss) | 9901 | €40,795 | €9,631 | -€31,164 | -76.4% |
| Financial income | 75/76B | €2 | €10 | +€8 | +407% |
| Recurring financial income | 75 | €2 | €10 | +€8 | +407% |
| Financial charges | 65/66B | €1,862 | €735 | -€1,127 | -60.5% |
| Recurring financial charges | 65 | €1,862 | €735 | -€1,127 | -60.5% |
| Profit (loss) for the period before taxes | 9903 | €38,935 | €8,907 | -€30,029 | -77.1% |
| Income taxes | 67/77 | €10,836 | €257 | -€10,579 | -97.6% |
| Profit (loss) for the period | 9904 | €28,099 | €8,650 | -€19,450 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,099 | €8,650 | -€19,450 | -69.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.