HTF: 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.
HTF
Largest movements
- Receivables within one year +€31,716
up €31,716 (+33.6%), from €94,254 to €125,970
of which Other amounts receivable: +€18,066
- Cash +€4,149
up €4,149 (+120%), from €3,468 to €7,617
mainly Net result for the year (+€74,528) and Deferred charges and accrued income (+€4,079)
- Deferred charges and accrued income -€4,079
down €4,079 (-100%), from €4,079 to €0
- Profit (loss) carried forward +€74,528
up €74,528 (+44.9%), from -€166,154 to -€91,626
- Trade debts -€27,454
down €27,454 (-26.8%), from €102,543 to €75,089
- Other debts -€9,348
down €9,348 (-20.3%), from €46,001 to €36,653
- Tax, wage and social debts -€5,640
down €5,640 (-18.5%), from €30,508 to €24,868
of which Remuneration and social security: -€3,194
- Other operating charges +€7,699
up €7,699 (+184%), from €4,191 to €11,890
- Gross operating margin -€7,540
down €7,540 (-7.9%), from €95,808 to €88,269
- Financial income -€5,059
down €5,059 (-100%), from €5,059 to €0
- Staff costs -€1,602
down €1,602 (-100%), from €1,602 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 | €104,885 | €136,971 | +€32,086 | +30.6% |
| Fixed assets | 21/28 | €3,084 | €3,384 | +€300 | +9.7% |
| Tangible fixed assets | 22/27 | €1,370 | €1,671 | +€300 | +21.9% |
| Plant, machinery and equipment | 23 | - | €675 | +€675 | |
| Furniture and vehicles | 24 | €1,370 | €996 | -€374 | -27.3% |
| Financial fixed assets | 28 | €1,713 | €1,713 | = | 0.0% |
| Current assets | 29/58 | €101,801 | €133,587 | +€31,786 | +31.2% |
| Amounts receivable within one year | 40/41 | €94,254 | €125,970 | +€31,716 | +33.6% |
| Trade receivables | 40 | €22,715 | €36,365 | +€13,650 | +60.1% |
| Other amounts receivable | 41 | €71,539 | €89,605 | +€18,066 | +25.3% |
| Cash at bank and in hand | 54/58 | €3,468 | €7,617 | +€4,149 | +120% |
| Deferred charges and accrued income | 490/1 | €4,079 | €0 | -€4,079 | -100% |
| Total equity and liabilities | 10/49 | €104,885 | €136,971 | +€32,086 | +30.6% |
| Equity | 10/15 | -€74,167 | €361 | +€74,528 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €51,987 | €51,987 | = | 0.0% |
| Tax-exempt reserves | 132 | €51,987 | €51,987 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,154 | -€91,626 | +€74,528 | +44.9% |
| Amounts payable | 17/49 | €179,051 | €136,610 | -€42,442 | -23.7% |
| Amounts payable within one year | 42/48 | €179,051 | €136,610 | -€42,442 | -23.7% |
| Trade debts | 44 | €102,543 | €75,089 | -€27,454 | -26.8% |
| Suppliers | 440/4 | €102,543 | €75,089 | -€27,454 | -26.8% |
| Taxes, remuneration and social security | 45 | €30,508 | €24,868 | -€5,640 | -18.5% |
| Taxes | 450/3 | €3,658 | €1,212 | -€2,446 | -66.9% |
| Remuneration and social security | 454/9 | €26,850 | €23,656 | -€3,194 | -11.9% |
| Other amounts payable | 47/48 | €46,001 | €36,653 | -€9,348 | -20.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €38,987 | €0 | -€38,987 | -100% |
| Remuneration, social security and pensions | 62 | €1,602 | €0 | -€1,602 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €374 | €419 | +€44 | +11.8% |
| Other operating charges | 640/8 | €4,191 | €11,890 | +€7,699 | +184% |
| Gross operating margin | 9900 | €95,808 | €88,269 | -€7,540 | -7.9% |
| Operating profit (loss) | 9901 | €89,640 | €75,960 | -€13,680 | -15.3% |
| Financial income | 75/76B | €5,059 | €0 | -€5,059 | -100% |
| Recurring financial income | 75 | €5,059 | €0 | -€5,059 | -100% |
| Financial charges | 65/66B | €2,109 | €1,433 | -€677 | -32.1% |
| Recurring financial charges | 65 | €2,109 | €1,433 | -€677 | -32.1% |
| Profit (loss) for the period before taxes | 9903 | €92,590 | €74,528 | -€18,062 | -19.5% |
| Profit (loss) for the period | 9904 | €92,590 | €74,528 | -€18,062 | -19.5% |
| Transfer to tax-exempt reserves | 689 | €38,987 | €0 | -€38,987 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €53,603 | €74,528 | +€20,925 | +39.0% |
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 24 October 2026 via checked.be.