HHH: 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.
HHH
Largest movements
- Cash +€139,178
up €139,178 (+26.7%), from €520,873 to €660,051
mainly Net result for the year (+€80,518) and Depreciation (+€49,455)
- Tangible fixed assets -€37,378
down €37,378 (-5.8%), from €641,959 to €604,581
- Current investments -€32,130
down €32,130 (-45.0%), from €71,460 to €39,330
- Receivables within one year +€23,499
up €23,499 (+4.3%), from €543,248 to €566,747
of which Trade receivables: +€69,699
- Reserves +€80,518
up €80,518 (+9.5%), from €844,436 to €924,954
of which Distributable reserves: +€80,518
- Provisions -€32,175
down €32,175 (-45.0%), from €71,490 to €39,315
- Trade debts +€23,927
up €23,927 (+25.9%), from €92,475 to €116,402
- Tax, wage and social debts +€22,803
up €22,803 (+4.5%), from €506,342 to €529,144
of which Remuneration and social security: +€59,915
- Staff costs +€506,665
up €506,665 (+12.2%), from €4.2m to €4.7m
- Gross operating margin +€465,357
up €465,357 (+10.7%), from €4.3m to €4.8m
- Provisions -€72,225
down €72,225, from €40,050 to -€32,175
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 | €1,803,972 | €1,893,035 | +€89,063 | +4.9% |
| Fixed assets | 21/28 | €660,160 | €619,181 | -€40,978 | -6.2% |
| Intangible fixed assets | 21 | €17,951 | €14,351 | -€3,600 | -20.1% |
| Tangible fixed assets | 22/27 | €641,959 | €604,581 | -€37,378 | -5.8% |
| Land and buildings | 22 | €561,786 | €543,550 | -€18,236 | -3.2% |
| Plant, machinery and equipment | 23 | €14,591 | €12,957 | -€1,634 | -11.2% |
| Furniture and vehicles | 24 | €65,582 | €48,074 | -€17,509 | -26.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,143,813 | €1,273,854 | +€130,041 | +11.4% |
| Amounts receivable within one year | 40/41 | €543,248 | €566,747 | +€23,499 | +4.3% |
| Trade receivables | 40 | €414,234 | €483,933 | +€69,699 | +16.8% |
| Other amounts receivable | 41 | €129,015 | €82,814 | -€46,201 | -35.8% |
| Current investments | 50/53 | €71,460 | €39,330 | -€32,130 | -45.0% |
| Cash at bank and in hand | 54/58 | €520,873 | €660,051 | +€139,178 | +26.7% |
| Deferred charges and accrued income | 490/1 | €8,232 | €7,726 | -€506 | -6.1% |
| Total equity and liabilities | 10/49 | €1,803,972 | €1,893,035 | +€89,063 | +4.9% |
| Equity | 10/15 | €863,036 | €943,554 | +€80,518 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €844,436 | €924,954 | +€80,518 | +9.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €842,576 | €923,094 | +€80,518 | +9.6% |
| Provisions and deferred taxes | 16 | €71,490 | €39,315 | -€32,175 | -45.0% |
| Provisions for liabilities and charges | 160/5 | €71,490 | €39,315 | -€32,175 | -45.0% |
| Environmental obligations | 163 | €71,490 | €39,315 | -€32,175 | -45.0% |
| Amounts payable | 17/49 | €869,446 | €910,166 | +€40,719 | +4.7% |
| Amounts payable after more than one year | 17 | €139,333 | €126,666 | -€12,667 | -9.1% |
| Financial debts | 170/4 | €139,333 | €126,666 | -€12,667 | -9.1% |
| Amounts payable within one year | 42/48 | €730,113 | €783,499 | +€53,386 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €12,667 | €12,667 | = | 0.0% |
| Trade debts | 44 | €92,475 | €116,402 | +€23,927 | +25.9% |
| Suppliers | 440/4 | €92,475 | €116,402 | +€23,927 | +25.9% |
| Taxes, remuneration and social security | 45 | €506,342 | €529,144 | +€22,803 | +4.5% |
| Taxes | 450/3 | €42,465 | €5,352 | -€37,113 | -87.4% |
| Remuneration and social security | 454/9 | €463,876 | €523,792 | +€59,915 | +12.9% |
| Other amounts payable | 47/48 | €118,630 | €125,286 | +€6,657 | +5.6% |
| Non-recurring operating income | 76A | €10,203 | €717 | -€9,487 | -93.0% |
| Remuneration, social security and pensions | 62 | €4,164,925 | €4,671,590 | +€506,665 | +12.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,586 | €49,455 | +€1,869 | +3.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €40,050 | -€32,175 | -€72,225 | |
| Other operating charges | 640/8 | €5,143 | €4,436 | -€708 | -13.8% |
| Non-recurring operating charges | 66A | - | €2,750 | +€2,750 | |
| Gross operating margin | 9900 | €4,341,319 | €4,806,676 | +€465,357 | +10.7% |
| Operating profit (loss) | 9901 | €83,615 | €110,621 | +€27,006 | +32.3% |
| Financial income | 75/76B | €18,143 | €6,336 | -€11,807 | -65.1% |
| Recurring financial income | 75 | €18,143 | €6,336 | -€11,807 | -65.1% |
| Financial charges | 65/66B | €4,670 | €2,373 | -€2,297 | -49.2% |
| Recurring financial charges | 65 | €4,670 | €2,373 | -€2,297 | -49.2% |
| Profit (loss) for the period before taxes | 9903 | €97,088 | €114,584 | +€17,496 | +18.0% |
| Income taxes | 67/77 | €27,314 | €34,066 | +€6,752 | +24.7% |
| Profit (loss) for the period | 9904 | €69,774 | €80,518 | +€10,744 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €69,774 | €80,518 | +€10,744 | +15.4% |
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 6 October 2026 via checked.be.