Head and Hands: 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.
Head and Hands
Largest movements
- Tangible fixed assets -€18,857
down €18,857 (-9.8%), from €191,948 to €173,091
of which Land and buildings: -€10,667
- Cash +€11,048
up €11,048 (+59.0%), from €18,733 to €29,781
mainly Net result for the year (+€31,741) and Depreciation (+€23,329)
- Profit (loss) carried forward +€31,741
up €31,741 (+42.4%), from -€74,785 to -€43,044
- Debts after one year -€23,258
down €23,258 (-9.8%), from €238,341 to €215,083
of which Financial debts: -€23,258
- Other debts -€13,858
down €13,858 (-68.9%), from €20,099 to €6,241
- Tax, wage and social debts -€6,071
down €6,071 (-38.9%), from €15,597 to €9,526
- Gross operating margin +€55,604
up €55,604 (+469%), from €11,844 to €67,447
- Financial charges -€918
down €918 (-9.9%), from €9,248 to €8,331
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 | €231,754 | €221,716 | -€10,038 | -4.3% |
| Fixed assets | 21/28 | €191,948 | €173,091 | -€18,857 | -9.8% |
| Tangible fixed assets | 22/27 | €191,948 | €173,091 | -€18,857 | -9.8% |
| Land and buildings | 22 | €142,144 | €131,478 | -€10,667 | -7.5% |
| Plant, machinery and equipment | 23 | €46,031 | €37,103 | -€8,928 | -19.4% |
| Furniture and vehicles | 24 | €3,774 | €4,511 | +€738 | +19.5% |
| Current assets | 29/58 | €39,806 | €48,625 | +€8,819 | +22.2% |
| Amounts receivable within one year | 40/41 | €16,257 | €16,103 | -€154 | -0.9% |
| Trade receivables | 40 | €16,256 | €16,103 | -€153 | -0.9% |
| Other amounts receivable | 41 | €0 | - | -€0 | |
| Cash at bank and in hand | 54/58 | €18,733 | €29,781 | +€11,048 | +59.0% |
| Deferred charges and accrued income | 490/1 | €4,816 | €2,741 | -€2,075 | -43.1% |
| Total equity and liabilities | 10/49 | €231,754 | €221,716 | -€10,038 | -4.3% |
| Equity | 10/15 | -€66,725 | -€34,984 | +€31,741 | +47.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€74,785 | -€43,044 | +€31,741 | +42.4% |
| Amounts payable | 17/49 | €298,479 | €256,700 | -€41,779 | -14.0% |
| Amounts payable after more than one year | 17 | €238,341 | €215,083 | -€23,258 | -9.8% |
| Financial debts | 170/4 | €167,041 | €143,783 | -€23,258 | -13.9% |
| Other amounts payable | 178/9 | €71,300 | €71,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €60,129 | €41,618 | -€18,511 | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €22,333 | €23,258 | +€925 | +4.1% |
| Trade debts | 44 | €2,101 | €2,593 | +€492 | +23.4% |
| Suppliers | 440/4 | €2,101 | €2,593 | +€492 | +23.4% |
| Taxes, remuneration and social security | 45 | €15,597 | €9,526 | -€6,071 | -38.9% |
| Taxes | 450/3 | €15,597 | €9,526 | -€6,071 | -38.9% |
| Other amounts payable | 47/48 | €20,099 | €6,241 | -€13,858 | -68.9% |
| Accrued charges and deferred income | 492/3 | €9 | - | -€9 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,954 | €23,329 | +€375 | +1.6% |
| Other operating charges | 640/8 | €3,864 | €3,913 | +€48 | +1.3% |
| Gross operating margin | 9900 | €11,844 | €67,447 | +€55,604 | +469% |
| Operating profit (loss) | 9901 | -€14,975 | €40,206 | +€55,180 | |
| Financial income | 75/76B | €95 | - | -€95 | |
| Recurring financial income | 75 | €95 | - | -€95 | |
| Financial charges | 65/66B | €9,248 | €8,331 | -€918 | -9.9% |
| Recurring financial charges | 65 | €9,248 | €8,331 | -€918 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | -€24,128 | €31,875 | +€56,003 | |
| Income taxes | 67/77 | €156 | €134 | -€21 | -13.8% |
| Profit (loss) for the period | 9904 | -€24,284 | €31,741 | +€56,024 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,284 | €31,741 | +€56,024 |
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 21 October 2026 via checked.be.