H3-MO: 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.
H3-MO
Largest movements
- Receivables within one year +€13,924
up €13,924 (+39.7%), from €35,101 to €49,025
of which Other amounts receivable: +€7,299
- Cash +€1,727
up €1,727 (+29.1%), from €5,940 to €7,668
mainly Accrued charges and deferred income (+€5,475) and Trade debts (+€5,284)
- Accrued charges and deferred income +€5,475
new in 2025: €5,475
- Trade debts +€5,284
up €5,284 (+432.5%), from €1,222 to €6,505
- Profit (loss) carried forward +€3,810
up €3,810 (+3.3%), from -€116,611 to -€112,801
- Write-downs +€32,341
up €32,341, from -€32,341 to €0
- Other operating charges -€32,234
down €32,234 (-87.6%), from €36,815 to €4,582
- Gross operating margin -€5,214
down €5,214 (-35.8%), from €14,583 to €9,369
- Depreciation -€2,416
down €2,416 (-72.1%), from €3,352 to €936
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 | €146,067 | €160,782 | +€14,715 | +10.1% |
| Fixed assets | 21/28 | €105,026 | €104,090 | -€936 | -0.9% |
| Tangible fixed assets | 22/27 | €105,026 | €104,090 | -€936 | -0.9% |
| Land and buildings | 22 | €104,193 | €103,897 | -€296 | -0.3% |
| Plant, machinery and equipment | 23 | €833 | €193 | -€640 | -76.8% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €41,041 | €56,692 | +€15,651 | +38.1% |
| Amounts receivable within one year | 40/41 | €35,101 | €49,025 | +€13,924 | +39.7% |
| Trade receivables | 40 | €0 | €6,625 | +€6,625 | |
| Other amounts receivable | 41 | €35,101 | €42,400 | +€7,299 | +20.8% |
| Cash at bank and in hand | 54/58 | €5,940 | €7,668 | +€1,727 | +29.1% |
| Total equity and liabilities | 10/49 | €146,067 | €160,782 | +€14,715 | +10.1% |
| Equity | 10/15 | €143,713 | €147,523 | +€3,810 | +2.7% |
| Contributions | 10/11 | €107,580 | €107,580 | = | 0.0% |
| Reserves | 13 | €152,744 | €152,744 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | €10,758 | +€10,758 | |
| Reserves not available under the articles | 1311 | €0 | €10,758 | +€10,758 | |
| Distributable reserves | 133 | €152,744 | €141,986 | -€10,758 | -7.0% |
| Profit (loss) carried forward | 14 | -€116,611 | -€112,801 | +€3,810 | +3.3% |
| Amounts payable | 17/49 | €2,354 | €13,259 | +€10,905 | +463.2% |
| Amounts payable within one year | 42/48 | €2,354 | €7,784 | +€5,430 | +230.6% |
| Trade debts | 44 | €1,222 | €6,505 | +€5,284 | +432.5% |
| Suppliers | 440/4 | €1,222 | €6,505 | +€5,284 | +432.5% |
| Taxes, remuneration and social security | 45 | €1,133 | €1,279 | +€146 | +12.9% |
| Taxes | 450/3 | €1,133 | €1,279 | +€146 | +12.9% |
| Accrued charges and deferred income | 492/3 | - | €5,475 | +€5,475 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,352 | €936 | -€2,416 | -72.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€32,341 | €0 | +€32,341 | |
| Other operating charges | 640/8 | €36,815 | €4,582 | -€32,234 | -87.6% |
| Gross operating margin | 9900 | €14,583 | €9,369 | -€5,214 | -35.8% |
| Operating profit (loss) | 9901 | €6,756 | €3,850 | -€2,905 | -43.0% |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.5% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | €6,717 | €3,810 | -€2,907 | -43.3% |
| Profit (loss) for the period | 9904 | €6,717 | €3,810 | -€2,907 | -43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,717 | €3,810 | -€2,907 | -43.3% |
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 11 October 2026 via checked.be.