H3O2: 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.
H3O2
Largest movements
- Cash +€95,674
up €95,674 (+40.4%), from €236,661 to €332,336
mainly Net result for the year (+€82,195) and Receivables within one year (+€53,729)
- Receivables within one year -€53,729
down €53,729 (-49.9%), from €107,637 to €53,908
of which Other amounts receivable: -€46,729
- Stocks and contracts -€33,867
down €33,867 (-31.9%), from €106,149 to €72,282
- Tangible fixed assets +€31,342
up €31,342 (+133.6%), from €23,460 to €54,803
of which Furniture and vehicles: +€32,132
- Reserves +€82,195
up €82,195 (+20.6%), from €398,090 to €480,285
- Other debts -€36,026
down €36,026 (-100.0%), from €36,026 to €0
- Trade debts -€8,023
down €8,023 (-59.8%), from €13,423 to €5,400
- Gross operating margin +€21,722
up €21,722 (+17.3%), from €125,869 to €147,591
- Taxes +€6,388
up €6,388 (+19.6%), from €32,675 to €39,063
- Depreciation +€5,614
up €5,614 (+53.7%), from €10,446 to €16,061
- Write-downs -€3,382
new in 2025: -€3,382
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 | €491,987 | €526,840 | +€34,853 | +7.1% |
| Fixed assets | 21/28 | €26,960 | €58,303 | +€31,342 | +116.3% |
| Tangible fixed assets | 22/27 | €23,460 | €54,803 | +€31,342 | +133.6% |
| Furniture and vehicles | 24 | €18,802 | €50,934 | +€32,132 | +170.9% |
| Other tangible fixed assets | 26 | €4,659 | €3,869 | -€790 | -16.9% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €465,026 | €468,537 | +€3,511 | +0.8% |
| Stocks and contracts in progress | 3 | €106,149 | €72,282 | -€33,867 | -31.9% |
| Stocks | 30/36 | €106,149 | €72,282 | -€33,867 | -31.9% |
| Amounts receivable within one year | 40/41 | €107,637 | €53,908 | -€53,729 | -49.9% |
| Trade receivables | 40 | €7,000 | €0 | -€7,000 | -100.0% |
| Other amounts receivable | 41 | €100,637 | €53,908 | -€46,729 | -46.4% |
| Cash at bank and in hand | 54/58 | €236,661 | €332,336 | +€95,674 | +40.4% |
| Deferred charges and accrued income | 490/1 | €14,579 | €10,012 | -€4,567 | -31.3% |
| Total equity and liabilities | 10/49 | €491,987 | €526,840 | +€34,853 | +7.1% |
| Equity | 10/15 | €416,721 | €498,916 | +€82,195 | +19.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €398,090 | €480,285 | +€82,195 | +20.6% |
| Distributable reserves | 133 | €398,090 | €480,285 | +€82,195 | +20.6% |
| Profit (loss) carried forward | 14 | €31 | €31 | = | 0.0% |
| Amounts payable | 17/49 | €75,266 | €27,923 | -€47,342 | -62.9% |
| Amounts payable within one year | 42/48 | €75,081 | €27,705 | -€47,376 | -63.1% |
| Trade debts | 44 | €13,423 | €5,400 | -€8,023 | -59.8% |
| Suppliers | 440/4 | €13,423 | €5,400 | -€8,023 | -59.8% |
| Advances received on contracts in progress | 46 | €7,500 | €5,600 | -€1,900 | -25.3% |
| Taxes, remuneration and social security | 45 | €18,132 | €16,705 | -€1,427 | -7.9% |
| Taxes | 450/3 | €11,427 | €9,869 | -€1,558 | -13.6% |
| Remuneration and social security | 454/9 | €6,705 | €6,835 | +€130 | +1.9% |
| Other amounts payable | 47/48 | €36,026 | €0 | -€36,026 | -100.0% |
| Accrued charges and deferred income | 492/3 | €185 | €218 | +€34 | +18.3% |
| Remuneration, social security and pensions | 62 | €19,317 | €17,917 | -€1,400 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,446 | €16,061 | +€5,614 | +53.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€3,382 | -€3,382 | |
| Other operating charges | 640/8 | €910 | €1,081 | +€171 | +18.8% |
| Gross operating margin | 9900 | €125,869 | €147,591 | +€21,722 | +17.3% |
| Operating profit (loss) | 9901 | €95,196 | €115,915 | +€20,718 | +21.8% |
| Financial income | 75/76B | €6,652 | €6,425 | -€226 | -3.4% |
| Recurring financial income | 75 | €6,652 | €6,425 | -€226 | -3.4% |
| Financial charges | 65/66B | €1,133 | €1,081 | -€51 | -4.5% |
| Recurring financial charges | 65 | €1,133 | €1,081 | -€51 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €100,715 | €121,258 | +€20,543 | +20.4% |
| Income taxes | 67/77 | €32,675 | €39,063 | +€6,388 | +19.6% |
| Profit (loss) for the period | 9904 | €68,040 | €82,195 | +€14,155 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €68,040 | €82,195 | +€14,155 | +20.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.