HET FORT: 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.
HET FORT
Largest movements
- Stocks and contracts -€838,814
down €838,814 (-11.1%), from €7.6m to €6.7m
- Tangible fixed assets +€807,195
up €807,195 (+79.1%), from €1.0m to €1.8m
of which Land and buildings: +€808,028
- Receivables within one year -€159,460
down €159,460 (-93.2%), from €171,078 to €11,618
of which Trade receivables: -€128,877
- Debts after one year -€423,177
down €423,177 (-100%), from €423,177 to €0
- Other debts +€345,706
up €345,706 (+10.9%), from €3.2m to €3.5m
- Depreciation +€35,506
up €35,506 (+60.0%), from €59,202 to €94,709
- Gross operating margin -€19,027
down €19,027 (-22.5%), from €84,527 to €65,500
- Other operating charges -€9,314
down €9,314 (-61.8%), from €15,063 to €5,750
- Financial charges -€3,340
down €3,340 (-79.5%), from €4,199 to €859
- Taxes -€2,004
down €2,004 (-100%), from €2,004 to €0
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 | €9,251,368 | €9,061,972 | -€189,396 | -2.0% |
| Fixed assets | 21/28 | €1,520,859 | €2,328,053 | +€807,195 | +53.1% |
| Tangible fixed assets | 22/27 | €1,020,359 | €1,827,553 | +€807,195 | +79.1% |
| Land and buildings | 22 | €1,014,527 | €1,822,555 | +€808,028 | +79.6% |
| Furniture and vehicles | 24 | €5,832 | €4,998 | -€833 | -14.3% |
| Financial fixed assets | 28 | €500,500 | €500,500 | = | 0.0% |
| Current assets | 29/58 | €7,730,509 | €6,733,919 | -€996,590 | -12.9% |
| Stocks and contracts in progress | 3 | €7,557,999 | €6,719,185 | -€838,814 | -11.1% |
| Stocks | 30/36 | €7,557,999 | €6,719,185 | -€838,814 | -11.1% |
| Amounts receivable within one year | 40/41 | €171,078 | €11,618 | -€159,460 | -93.2% |
| Trade receivables | 40 | €140,494 | €11,616 | -€128,877 | -91.7% |
| Other amounts receivable | 41 | €30,584 | €2 | -€30,582 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,432 | €2,071 | +€639 | +44.6% |
| Deferred charges and accrued income | 490/1 | - | €1,045 | +€1,045 | |
| Total equity and liabilities | 10/49 | €9,251,368 | €9,061,972 | -€189,396 | -2.0% |
| Equity | 10/15 | €404,463 | €368,645 | -€35,818 | -8.9% |
| Contributions | 10/11 | €204,141 | €204,141 | = | 0.0% |
| Capital | 10 | €204,141 | €204,141 | = | 0.0% |
| Issued capital | 100 | €204,141 | €204,141 | = | 0.0% |
| Reserves | 13 | €20,414 | €20,414 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,414 | €20,414 | = | 0.0% |
| Legal reserve | 130 | €20,414 | €20,414 | = | 0.0% |
| Profit (loss) carried forward | 14 | €179,908 | €144,090 | -€35,818 | -19.9% |
| Amounts payable | 17/49 | €8,846,905 | €8,693,327 | -€153,578 | -1.7% |
| Amounts payable after more than one year | 17 | €423,177 | €0 | -€423,177 | -100% |
| Financial debts | 170/4 | €423,177 | €0 | -€423,177 | -100% |
| Amounts payable within one year | 42/48 | €8,422,554 | €8,693,327 | +€270,773 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €22,641 | €0 | -€22,641 | -100% |
| Financial debts | 43 | €11,837 | €0 | -€11,837 | -100% |
| Credit institutions | 430/8 | €11,837 | €0 | -€11,837 | -100% |
| Trade debts | 44 | €81,136 | €20,666 | -€60,470 | -74.5% |
| Suppliers | 440/4 | €81,136 | €20,666 | -€60,470 | -74.5% |
| Advances received on contracts in progress | 46 | €5,123,007 | €5,123,007 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,004 | €22,020 | +€20,016 | +999% |
| Taxes | 450/3 | €2,004 | €22,020 | +€20,016 | +999% |
| Other amounts payable | 47/48 | €3,181,929 | €3,527,634 | +€345,706 | +10.9% |
| Accrued charges and deferred income | 492/3 | €1,175 | €0 | -€1,175 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,202 | €94,709 | +€35,506 | +60.0% |
| Other operating charges | 640/8 | €15,063 | €5,750 | -€9,314 | -61.8% |
| Gross operating margin | 9900 | €84,527 | €65,500 | -€19,027 | -22.5% |
| Operating profit (loss) | 9901 | €10,262 | -€34,958 | -€45,220 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,199 | €859 | -€3,340 | -79.5% |
| Recurring financial charges | 65 | €4,199 | €859 | -€3,340 | -79.5% |
| Profit (loss) for the period before taxes | 9903 | €6,063 | -€35,818 | -€41,880 | |
| Income taxes | 67/77 | €2,004 | €0 | -€2,004 | -100% |
| Profit (loss) for the period | 9904 | €4,059 | -€35,818 | -€39,877 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,059 | -€35,818 | -€39,877 |
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 13 October 2026 via checked.be.