H2OKEYN: 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.
H2OKEYN
Largest movements
- Cash +€37,290
up €37,290 (+133.7%), from €27,882 to €65,172
mainly Other debts (+€35,231) and Depreciation (+€20,194)
- Tangible fixed assets -€19,811
down €19,811 (-30.7%), from €64,427 to €44,616
of which Furniture and vehicles: -€17,526
- Deferred charges and accrued income +€19,234
up €19,234 (+1165.2%), from €1,651 to €20,885
- Financial fixed assets -€8,264
down €8,264 (-96.2%), from €8,594 to €330
- Other debts +€35,231
up €35,231 (+4931.4%), from €714 to €35,945
- Current portion of long-term debt -€17,207
no longer reported in 2025 (was €17,207)
- Reserves +€8,742
up €8,742 (+10.8%), from €80,715 to €89,457
- Tax, wage and social debts +€3,137
up €3,137 (+190.2%), from €1,650 to €4,787
- Gross operating margin +€23,083
up €23,083 (+40.8%), from €56,634 to €79,717
- Depreciation +€13,685
up €13,685 (+210.3%), from €6,509 to €20,194
- Financial charges +€6,348
up €6,348 (+23.1%), from €27,471 to €33,819
- Taxes +€977
up €977 (+14.2%), from €6,895 to €7,872
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 | €127,486 | €156,639 | +€29,153 | +22.9% |
| Fixed assets | 21/28 | €73,021 | €44,946 | -€28,075 | -38.4% |
| Tangible fixed assets | 22/27 | €64,427 | €44,616 | -€19,811 | -30.7% |
| Plant, machinery and equipment | 23 | €14,986 | €12,701 | -€2,285 | -15.2% |
| Furniture and vehicles | 24 | €49,441 | €31,915 | -€17,526 | -35.4% |
| Financial fixed assets | 28 | €8,594 | €330 | -€8,264 | -96.2% |
| Current assets | 29/58 | €54,464 | €111,692 | +€57,228 | +105.1% |
| Amounts receivable after more than one year | 29 | €7,000 | €7,000 | = | 0.0% |
| Other amounts receivable | 291 | €7,000 | €7,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,932 | €18,635 | +€703 | +3.9% |
| Trade receivables | 40 | €17,932 | €18,635 | +€703 | +3.9% |
| Cash at bank and in hand | 54/58 | €27,882 | €65,172 | +€37,290 | +133.7% |
| Deferred charges and accrued income | 490/1 | €1,651 | €20,885 | +€19,234 | +1165.2% |
| Total equity and liabilities | 10/49 | €127,486 | €156,639 | +€29,153 | +22.9% |
| Equity | 10/15 | €106,617 | €115,359 | +€8,742 | +8.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €80,715 | €89,457 | +€8,742 | +10.8% |
| Distributable reserves | 133 | €80,715 | €89,457 | +€8,742 | +10.8% |
| Profit (loss) carried forward | 14 | €19,702 | €19,702 | = | 0.0% |
| Amounts payable | 17/49 | €20,868 | €41,279 | +€20,411 | +97.8% |
| Amounts payable within one year | 42/48 | €20,868 | €41,279 | +€20,411 | +97.8% |
| Current portion of amounts payable after more than one year | 42 | €17,207 | - | -€17,207 | |
| Trade debts | 44 | €1,297 | €548 | -€750 | -57.8% |
| Suppliers | 440/4 | €1,297 | €548 | -€750 | -57.8% |
| Taxes, remuneration and social security | 45 | €1,650 | €4,787 | +€3,137 | +190.2% |
| Taxes | 450/3 | €1,650 | €4,787 | +€3,137 | +190.2% |
| Other amounts payable | 47/48 | €714 | €35,945 | +€35,231 | +4931.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,509 | €20,194 | +€13,685 | +210.3% |
| Other operating charges | 640/8 | €378 | - | -€378 | |
| Gross operating margin | 9900 | €56,634 | €79,717 | +€23,083 | +40.8% |
| Operating profit (loss) | 9901 | €49,748 | €59,523 | +€9,776 | +19.7% |
| Financial charges | 65/66B | €27,471 | €33,819 | +€6,348 | +23.1% |
| Recurring financial charges | 65 | €27,471 | €33,819 | +€6,348 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €22,277 | €25,705 | +€3,428 | +15.4% |
| Income taxes | 67/77 | €6,895 | €7,872 | +€977 | +14.2% |
| Profit (loss) for the period | 9904 | €15,382 | €17,833 | +€2,451 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,382 | €17,833 | +€2,451 | +15.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.