He Hu: 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.
He Hu
Largest movements
- Intangible fixed assets -€7,857
down €7,857 (-32.8%), from €23,944 to €16,086
- Cash +€7,086
up €7,086 (+26.9%), from €26,304 to €33,390
mainly Depreciation (+€21,535) and Trade debts (+€1,502)
- Deferred charges and accrued income +€1,836
new in 2025: €1,836
- Tangible fixed assets -€1,698
down €1,698 (-10.3%), from €16,557 to €14,859
of which Plant, machinery and equipment: -€6,814
- Tax, wage and social debts -€1,830
down €1,830 (-59.8%), from €3,062 to €1,232
of which Taxes: -€1,124
- Trade debts +€1,502
up €1,502 (+20.3%), from €7,404 to €8,906
- Profit (loss) carried forward +€1,083
up €1,083 (+4.4%), from €24,434 to €25,516
- Staff costs -€42,276
down €42,276 (-51.5%), from €82,011 to €39,735
- Gross operating margin -€37,841
down €37,841 (-36.6%), from €103,456 to €65,615
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.
Derived cash bridge
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 | €71,602 | €71,673 | +€71 | +0.1% |
| Fixed assets | 21/28 | €41,001 | €31,445 | -€9,555 | -23.3% |
| Intangible fixed assets | 21 | €23,944 | €16,086 | -€7,857 | -32.8% |
| Tangible fixed assets | 22/27 | €16,557 | €14,859 | -€1,698 | -10.3% |
| Plant, machinery and equipment | 23 | €9,801 | €2,987 | -€6,814 | -69.5% |
| Furniture and vehicles | 24 | €6,756 | €2,898 | -€3,858 | -57.1% |
| Other tangible fixed assets | 26 | - | €8,974 | +€8,974 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €30,601 | €40,228 | +€9,627 | +31.5% |
| Stocks and contracts in progress | 3 | €4,282 | €4,586 | +€304 | +7.1% |
| Stocks | 30/36 | €4,282 | €4,586 | +€304 | +7.1% |
| Amounts receivable within one year | 40/41 | €14 | €416 | +€401 | +2,786% |
| Other amounts receivable | 41 | €14 | €416 | +€401 | +2,786% |
| Cash at bank and in hand | 54/58 | €26,304 | €33,390 | +€7,086 | +26.9% |
| Deferred charges and accrued income | 490/1 | - | €1,836 | +€1,836 | |
| Total equity and liabilities | 10/49 | €71,602 | €71,673 | +€71 | +0.1% |
| Equity | 10/15 | €29,434 | €30,516 | +€1,083 | +3.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,434 | €25,516 | +€1,083 | +4.4% |
| Amounts payable | 17/49 | €42,168 | €41,157 | -€1,012 | -2.4% |
| Amounts payable within one year | 42/48 | €42,168 | €41,157 | -€1,012 | -2.4% |
| Trade debts | 44 | €7,404 | €8,906 | +€1,502 | +20.3% |
| Suppliers | 440/4 | €7,404 | €8,906 | +€1,502 | +20.3% |
| Taxes, remuneration and social security | 45 | €3,062 | €1,232 | -€1,830 | -59.8% |
| Taxes | 450/3 | €1,200 | €76 | -€1,124 | -93.7% |
| Remuneration and social security | 454/9 | €1,862 | €1,156 | -€706 | -37.9% |
| Other amounts payable | 47/48 | €31,702 | €31,019 | -€683 | -2.2% |
| Remuneration, social security and pensions | 62 | €82,011 | €39,735 | -€42,276 | -51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,690 | €21,535 | -€155 | -0.7% |
| Other operating charges | 640/8 | €2,194 | €3,096 | +€902 | +41.1% |
| Gross operating margin | 9900 | €103,456 | €65,615 | -€37,841 | -36.6% |
| Operating profit (loss) | 9901 | -€2,438 | €1,249 | +€3,687 | |
| Financial income | 75/76B | - | €31 | +€31 | |
| Recurring financial income | 75 | - | €31 | +€31 | |
| Financial charges | 65/66B | €183 | €197 | +€14 | +7.7% |
| Recurring financial charges | 65 | €183 | €197 | +€14 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,621 | €1,083 | +€3,704 | |
| Profit (loss) for the period | 9904 | -€2,621 | €1,083 | +€3,704 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,621 | €1,083 | +€3,704 |
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 18 October 2026 via checked.be.