HH 107: 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.
HH 107
Largest movements
- Intangible fixed assets -€1.1m
down €1.1m (-41.6%), from €2.6m to €1.5m
- Current investments +€255,000
up €255,000 (+85.0%), from €300,000 to €555,000
- Cash -€200,421
down €200,421 (-76.6%), from €261,563 to €61,142
mainly Accrued charges and deferred income (-€657,662) and Contributions, distributions and other (-€544,978)
- Receivables within one year +€99,731
up €99,731 (+162%), from €61,585 to €161,316
of which Trade receivables: +€115,804
- Accrued charges and deferred income -€657,662
down €657,662 (-45.3%), from €1.5m to €795,120
- Investment grants -€294,978
down €294,978 (-39.9%), from €738,692 to €443,714
- Other debts +€249,999
up €249,999 (+14,952%), from €1,672 to €251,671
- Provisions -€98,327
down €98,327 (-39.9%), from €246,231 to €147,904
- Reserves -€69,907
down €69,907 (-14.0%), from €500,975 to €431,068
- Depreciation +€492,303
up €492,303 (+86.0%), from €572,555 to €1.1m
- Gross operating margin +€400,006
up €400,006 (+78.2%), from €511,224 to €911,230
- Financial income +€164,967
up €164,967 (+120%), from €137,382 to €302,349
- Financial charges -€52,340
down €52,340 (-95.7%), from €54,679 to €2,339
- Taxes +€45,568
up €45,568 (+263%), from €17,348 to €62,916
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 | €3,198,931 | €2,280,050 | -€918,881 | -28.7% |
| Fixed assets | 21/28 | €2,575,450 | €1,500,842 | -€1.1m | -41.7% |
| Intangible fixed assets | 21 | €2,558,853 | €1,495,558 | -€1.1m | -41.6% |
| Tangible fixed assets | 22/27 | €2,616 | €1,053 | -€1,563 | -59.7% |
| Furniture and vehicles | 24 | €2,616 | €1,053 | -€1,563 | -59.7% |
| Financial fixed assets | 28 | €13,981 | €4,231 | -€9,750 | -69.7% |
| Current assets | 29/58 | €623,481 | €779,208 | +€155,727 | +25.0% |
| Amounts receivable within one year | 40/41 | €61,585 | €161,316 | +€99,731 | +162% |
| Trade receivables | 40 | €12,346 | €128,150 | +€115,804 | +938% |
| Other amounts receivable | 41 | €49,239 | €33,166 | -€16,073 | -32.6% |
| Current investments | 50/53 | €300,000 | €555,000 | +€255,000 | +85.0% |
| Cash at bank and in hand | 54/58 | €261,563 | €61,142 | -€200,421 | -76.6% |
| Deferred charges and accrued income | 490/1 | €333 | €1,750 | +€1,417 | +426% |
| Total equity and liabilities | 10/49 | €3,198,931 | €2,280,050 | -€918,881 | -28.7% |
| Equity | 10/15 | €1,389,667 | €1,024,782 | -€364,885 | -26.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €500,975 | €431,068 | -€69,907 | -14.0% |
| Distributable reserves | 133 | €500,975 | €431,068 | -€69,907 | -14.0% |
| Investment grants | 15 | €738,692 | €443,714 | -€294,978 | -39.9% |
| Provisions and deferred taxes | 16 | €246,231 | €147,904 | -€98,327 | -39.9% |
| Deferred taxes | 168 | €246,231 | €147,904 | -€98,327 | -39.9% |
| Amounts payable | 17/49 | €1,563,033 | €1,107,364 | -€455,669 | -29.2% |
| Amounts payable within one year | 42/48 | €110,251 | €312,244 | +€201,993 | +183% |
| Trade debts | 44 | €108,579 | €39,714 | -€68,865 | -63.4% |
| Suppliers | 440/4 | €108,579 | €39,714 | -€68,865 | -63.4% |
| Taxes, remuneration and social security | 45 | - | €20,859 | +€20,859 | |
| Taxes | 450/3 | - | €20,859 | +€20,859 | |
| Other amounts payable | 47/48 | €1,672 | €251,671 | +€249,999 | +14,952% |
| Accrued charges and deferred income | 492/3 | €1,452,782 | €795,120 | -€657,662 | -45.3% |
| Remuneration, social security and pensions | 62 | €500 | €169 | -€331 | -66.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €572,555 | €1,064,858 | +€492,303 | +86.0% |
| Other operating charges | 640/8 | €1,382 | €1,531 | +€149 | +10.8% |
| Gross operating margin | 9900 | €511,224 | €911,230 | +€400,006 | +78.2% |
| Operating profit (loss) | 9901 | -€63,213 | -€155,328 | -€92,115 | -146% |
| Financial income | 75/76B | €137,382 | €302,349 | +€164,967 | +120% |
| Recurring financial income | 75 | €137,382 | €302,349 | +€164,967 | +120% |
| Financial charges | 65/66B | €54,679 | €2,339 | -€52,340 | -95.7% |
| Recurring financial charges | 65 | €54,679 | €2,339 | -€52,340 | -95.7% |
| Profit (loss) for the period before taxes | 9903 | €19,490 | €144,682 | +€125,192 | +642% |
| Transfer from deferred taxes | 780 | €43,228 | €98,327 | +€55,099 | +127% |
| Income taxes | 67/77 | €17,348 | €62,916 | +€45,568 | +263% |
| Profit (loss) for the period | 9904 | €45,370 | €180,093 | +€134,723 | +297% |
| Profit (loss) for the period to be appropriated | 9905 | €45,370 | €180,093 | +€134,723 | +297% |
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 23 October 2026 via checked.be.