H4TECH: 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.
H4TECH
Largest movements
- Cash +€193,946
up €193,946 (+155.3%), from €124,850 to €318,796
mainly Net result for the year (+€101,360) and Tax, wage and social debts (+€51,138)
- Receivables within one year -€38,744
down €38,744 (-68.5%), from €56,600 to €17,856
- Reserves +€101,360
up €101,360 (+80.8%), from €125,515 to €226,876
- Tax, wage and social debts +€51,138
up €51,138 (+96.4%), from €53,031 to €104,170
- Gross operating margin -€29,515
down €29,515 (-16.4%), from €180,230 to €150,715
- Taxes -€4,841
down €4,841 (-9.1%), from €53,031 to €48,191
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 | €191,867 | €345,204 | +€153,336 | +79.9% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €8,268 | €7,045 | -€1,223 | -14.8% |
| Tangible fixed assets | 22/27 | €8,268 | €7,045 | -€1,223 | -14.8% |
| Plant, machinery and equipment | 23 | €6,696 | €6,023 | -€672 | -10.0% |
| Furniture and vehicles | 24 | €1,572 | €1,022 | -€551 | -35.0% |
| Current assets | 29/58 | €183,599 | €338,159 | +€154,560 | +84.2% |
| Amounts receivable within one year | 40/41 | €56,600 | €17,856 | -€38,744 | -68.5% |
| Trade receivables | 40 | €56,600 | €17,856 | -€38,744 | -68.5% |
| Cash at bank and in hand | 54/58 | €124,850 | €318,796 | +€193,946 | +155.3% |
| Deferred charges and accrued income | 490/1 | €2,149 | €1,506 | -€642 | -29.9% |
| Total equity and liabilities | 10/49 | €191,867 | €345,204 | +€153,336 | +79.9% |
| Equity | 10/15 | €128,515 | €229,876 | +€101,360 | +78.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €125,515 | €226,876 | +€101,360 | +80.8% |
| Distributable reserves | 133 | €125,515 | €226,876 | +€101,360 | +80.8% |
| Amounts payable | 17/49 | €63,352 | €115,328 | +€51,976 | +82.0% |
| Amounts payable within one year | 42/48 | €63,352 | €115,328 | +€51,976 | +82.0% |
| Trade debts | 44 | €320 | €1,158 | +€838 | +261.6% |
| Suppliers | 440/4 | €320 | €1,158 | +€838 | +261.6% |
| Taxes, remuneration and social security | 45 | €53,031 | €104,170 | +€51,138 | +96.4% |
| Taxes | 450/3 | €53,031 | €104,170 | +€51,138 | +96.4% |
| Other amounts payable | 47/48 | €10,000 | €10,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,298 | €1,223 | -€75 | -5.8% |
| Other operating charges | 640/8 | €306 | €63 | -€242 | -79.2% |
| Gross operating margin | 9900 | €180,230 | €150,715 | -€29,515 | -16.4% |
| Operating profit (loss) | 9901 | €178,626 | €149,428 | -€29,198 | -16.3% |
| Financial income | 75/76B | €0 | €267 | +€267 | |
| Recurring financial income | 75 | €0 | €267 | +€267 | |
| Financial charges | 65/66B | €80 | €144 | +€65 | +81.2% |
| Recurring financial charges | 65 | €80 | €144 | +€65 | +81.2% |
| Profit (loss) for the period before taxes | 9903 | €178,547 | €149,551 | -€28,996 | -16.2% |
| Income taxes | 67/77 | €53,031 | €48,191 | -€4,841 | -9.1% |
| Profit (loss) for the period | 9904 | €125,515 | €101,360 | -€24,155 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €125,515 | €101,360 | -€24,155 | -19.2% |
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 2 October 2026 via checked.be.