H2C TRADING: 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.
H2C TRADING
Largest movements
- Tangible fixed assets -€39,671
down €39,671 (-3.1%), from €1.3m to €1.3m
of which Land and buildings: -€39,279
- Cash +€13,073
up €13,073 (+3935.3%), from €332 to €13,405
mainly Depreciation (+€42,274) and Other debts (+€10,942)
- Profit (loss) carried forward -€38,249
down €38,249 (-29.6%), from -€129,027 to -€167,277
- Gross operating margin +€55,936
up €55,936, from -€9,662 to €46,274
- Depreciation +€8,775
up €8,775 (+26.2%), from €33,499 to €42,274
- Financial charges +€5,061
up €5,061 (+14.8%), from €34,153 to €39,215
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 | €1,292,568 | €1,264,241 | -€28,327 | -2.2% |
| Fixed assets | 21/28 | €1,290,273 | €1,250,602 | -€39,671 | -3.1% |
| Tangible fixed assets | 22/27 | €1,290,273 | €1,250,602 | -€39,671 | -3.1% |
| Land and buildings | 22 | €1,288,422 | €1,249,144 | -€39,279 | -3.0% |
| Plant, machinery and equipment | 23 | €1,494 | €1,177 | -€317 | -21.2% |
| Furniture and vehicles | 24 | €357 | €281 | -€76 | -21.3% |
| Current assets | 29/58 | €2,295 | €13,640 | +€11,345 | +494.3% |
| Amounts receivable within one year | 40/41 | €1,756 | - | -€1,756 | |
| Trade receivables | 40 | €1,756 | - | -€1,756 | |
| Cash at bank and in hand | 54/58 | €332 | €13,405 | +€13,073 | +3935.3% |
| Deferred charges and accrued income | 490/1 | €208 | €235 | +€27 | +13.1% |
| Total equity and liabilities | 10/49 | €1,292,568 | €1,264,241 | -€28,327 | -2.2% |
| Equity | 10/15 | -€126,027 | -€164,277 | -€38,249 | -30.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€129,027 | -€167,277 | -€38,249 | -29.6% |
| Amounts payable | 17/49 | €1,418,595 | €1,428,518 | +€9,922 | +0.7% |
| Amounts payable after more than one year | 17 | €895,408 | €887,674 | -€7,733 | -0.9% |
| Financial debts | 170/4 | €895,408 | €873,574 | -€21,833 | -2.4% |
| Other amounts payable | 178/9 | - | €14,100 | +€14,100 | |
| Amounts payable within one year | 42/48 | €523,188 | €537,093 | +€13,906 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €39,592 | €43,234 | +€3,641 | +9.2% |
| Trade debts | 44 | €2,134 | €1,457 | -€678 | -31.7% |
| Suppliers | 440/4 | €2,134 | €1,457 | -€678 | -31.7% |
| Other amounts payable | 47/48 | €481,461 | €492,403 | +€10,942 | +2.3% |
| Accrued charges and deferred income | 492/3 | - | €3,750 | +€3,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,499 | €42,274 | +€8,775 | +26.2% |
| Other operating charges | 640/8 | €2,942 | €3,035 | +€93 | +3.2% |
| Gross operating margin | 9900 | -€9,662 | €46,274 | +€55,936 | |
| Operating profit (loss) | 9901 | -€46,103 | €965 | +€47,068 | |
| Financial charges | 65/66B | €34,153 | €39,215 | +€5,061 | +14.8% |
| Recurring financial charges | 65 | €34,153 | €39,215 | +€5,061 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | -€80,256 | -€38,249 | +€42,007 | +52.3% |
| Profit (loss) for the period | 9904 | -€80,256 | -€38,249 | +€42,007 | +52.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,256 | -€38,249 | +€42,007 | +52.3% |
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 10 October 2026 via checked.be.