H2X: 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.
H2X
Largest movements
- Receivables within one year +€956,315
up €956,315 (+1,773%), from €53,935 to €1.0m
of which Other amounts receivable: +€952,425
- Receivables after one year +€250,000
new in 2024: €250,000
- Current investments +€250,000
up €250,000 (+100%), from €250,000 to €500,000
- Financial fixed assets -€209,230
down €209,230 (-27.6%), from €759,230 to €550,000
- Cash +€92,680
up €92,680 (+36.0%), from €257,445 to €350,125
mainly Net result for the year (+€1.4m) and Investment in fixed assets (net) (+€209,230)
- Reserves +€1.4m
up €1.4m (+83.1%), from €1.7m to €3.1m
of which Distributable reserves: +€1.4m
- Debts after one year -€69,378
down €69,378 (-8.3%), from €833,094 to €763,716
of which Financial debts: -€69,378
- Financial income +€1.1m
up €1.1m (+541%), from €200,500 to €1.3m
of which Non-recurring financial income: +€1.1m
- Taxes +€26,373
up €26,373 (+53.5%), from €49,281 to €75,654
- Depreciation -€13,022
down €13,022 (-55.1%), from €23,648 to €10,626
- Financial charges +€3,801
up €3,801 (+39.2%), from €9,702 to €13,504
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,653,479 | €3,982,016 | +€1.3m | +50.1% |
| Fixed assets | 21/28 | €2,090,378 | €1,870,522 | -€219,856 | -10.5% |
| Tangible fixed assets | 22/27 | €1,331,148 | €1,320,522 | -€10,626 | -0.8% |
| Land and buildings | 22 | €1,331,148 | €1,320,522 | -€10,626 | -0.8% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €759,230 | €550,000 | -€209,230 | -27.6% |
| Current assets | 29/58 | €563,100 | €2,111,494 | +€1.5m | +275% |
| Amounts receivable after more than one year | 29 | - | €250,000 | +€250,000 | |
| Other amounts receivable | 291 | - | €250,000 | +€250,000 | |
| Amounts receivable within one year | 40/41 | €53,935 | €1,010,250 | +€956,315 | +1,773% |
| Trade receivables | 40 | €41,233 | €45,123 | +€3,890 | +9.4% |
| Other amounts receivable | 41 | €12,702 | €965,127 | +€952,425 | +7,498% |
| Current investments | 50/53 | €250,000 | €500,000 | +€250,000 | +100% |
| Cash at bank and in hand | 54/58 | €257,445 | €350,125 | +€92,680 | +36.0% |
| Deferred charges and accrued income | 490/1 | €1,720 | €1,118 | -€602 | -35.0% |
| Total equity and liabilities | 10/49 | €2,653,479 | €3,982,016 | +€1.3m | +50.1% |
| Equity | 10/15 | €1,706,223 | €3,106,734 | +€1.4m | +82.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,686,223 | €3,086,734 | +€1.4m | +83.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €1,684,223 | €3,084,734 | +€1.4m | +83.2% |
| Amounts payable | 17/49 | €947,256 | €875,282 | -€71,973 | -7.6% |
| Amounts payable after more than one year | 17 | €833,094 | €763,716 | -€69,378 | -8.3% |
| Financial debts | 170/4 | €798,094 | €728,716 | -€69,378 | -8.7% |
| Other amounts payable | 178/9 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €114,162 | €111,566 | -€2,596 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €72,535 | €68,857 | -€3,678 | -5.1% |
| Trade debts | 44 | €4,000 | €755 | -€3,246 | -81.1% |
| Suppliers | 440/4 | €4,000 | €755 | -€3,246 | -81.1% |
| Taxes, remuneration and social security | 45 | €37,627 | €41,955 | +€4,328 | +11.5% |
| Taxes | 450/3 | €37,627 | €41,955 | +€4,328 | +11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,648 | €10,626 | -€13,022 | -55.1% |
| Other operating charges | 640/8 | €5,335 | €5,602 | +€267 | +5.0% |
| Gross operating margin | 9900 | €221,596 | €220,481 | -€1,115 | -0.5% |
| Operating profit (loss) | 9901 | €192,614 | €204,253 | +€11,639 | +6.0% |
| Financial income | 75/76B | €200,500 | €1,285,415 | +€1.1m | +541% |
| Recurring financial income | 75 | €200,500 | €207,145 | +€6,645 | +3.3% |
| Non-recurring financial income | 76B | - | €1,078,270 | +€1.1m | |
| Financial charges | 65/66B | €9,702 | €13,504 | +€3,801 | +39.2% |
| Recurring financial charges | 65 | €9,702 | €13,504 | +€3,801 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €383,411 | €1,476,164 | +€1.1m | +285% |
| Income taxes | 67/77 | €49,281 | €75,654 | +€26,373 | +53.5% |
| Profit (loss) for the period | 9904 | €334,131 | €1,400,511 | +€1.1m | +319% |
| Profit (loss) for the period to be appropriated | 9905 | €334,131 | €1,400,511 | +€1.1m | +319% |
Source: filed annual accounts (NBB), financial years ended 31 March 2023 and 31 March 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.