HTree: 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.
HTree
Largest movements
- Cash +€21,290
up €21,290 (+35.8%), from €59,489 to €80,779
mainly Other debts (+€80,069) and Net result for the year (+€26,780)
- Receivables within one year -€5,592
down €5,592 (-18.0%), from €31,114 to €25,522
of which Other amounts receivable: -€6,221
- Tangible fixed assets -€2,052
down €2,052 (-50.0%), from €4,103 to €2,051
of which Furniture and vehicles: -€1,921
- Other debts +€80,069
up €80,069 (+668.2%), from €11,983 to €92,052
- Profit (loss) carried forward -€65,220
down €65,220 (-99.7%), from €65,386 to €165
- Trade debts -€2,498
down €2,498 (-87.6%), from €2,853 to €355
- Tax, wage and social debts +€1,473
up €1,473 (+21.5%), from €6,835 to €8,308
of which Taxes: +€1,473
- Gross operating margin +€9,154
up €9,154 (+31.5%), from €29,065 to €38,219
- Taxes +€2,812
up €2,812 (+47.1%), from €5,975 to €8,787
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 | €95,117 | €108,940 | +€13,823 | +14.5% |
| Fixed assets | 21/28 | €4,223 | €2,171 | -€2,052 | -48.6% |
| Tangible fixed assets | 22/27 | €4,103 | €2,051 | -€2,052 | -50.0% |
| Plant, machinery and equipment | 23 | €131 | €0 | -€131 | -100.0% |
| Furniture and vehicles | 24 | €2,379 | €458 | -€1,921 | -80.8% |
| Other tangible fixed assets | 26 | €1,593 | €1,593 | = | 0.0% |
| Financial fixed assets | 28 | €120 | €120 | = | 0.0% |
| Current assets | 29/58 | €90,894 | €106,769 | +€15,874 | +17.5% |
| Amounts receivable within one year | 40/41 | €31,114 | €25,522 | -€5,592 | -18.0% |
| Trade receivables | 40 | €15,650 | €16,278 | +€628 | +4.0% |
| Other amounts receivable | 41 | €15,464 | €9,244 | -€6,221 | -40.2% |
| Cash at bank and in hand | 54/58 | €59,489 | €80,779 | +€21,290 | +35.8% |
| Deferred charges and accrued income | 490/1 | €291 | €468 | +€177 | +60.7% |
| Total equity and liabilities | 10/49 | €95,117 | €108,940 | +€13,823 | +14.5% |
| Equity | 10/15 | €73,446 | €8,225 | -€65,220 | -88.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,386 | €165 | -€65,220 | -99.7% |
| Amounts payable | 17/49 | €21,671 | €100,715 | +€79,043 | +364.7% |
| Amounts payable within one year | 42/48 | €21,671 | €100,715 | +€79,043 | +364.7% |
| Trade debts | 44 | €2,853 | €355 | -€2,498 | -87.6% |
| Suppliers | 440/4 | €2,853 | €355 | -€2,498 | -87.6% |
| Taxes, remuneration and social security | 45 | €6,835 | €8,308 | +€1,473 | +21.5% |
| Taxes | 450/3 | €6,835 | €8,308 | +€1,473 | +21.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €11,983 | €92,052 | +€80,069 | +668.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,291 | €2,052 | -€239 | -10.4% |
| Other operating charges | 640/8 | €387 | €456 | +€69 | +17.8% |
| Gross operating margin | 9900 | €29,065 | €38,219 | +€9,154 | +31.5% |
| Operating profit (loss) | 9901 | €26,387 | €35,711 | +€9,324 | +35.3% |
| Financial income | 75/76B | €23 | €56 | +€33 | +140.5% |
| Recurring financial income | 75 | €23 | €56 | +€33 | +140.5% |
| Financial charges | 65/66B | €335 | €200 | -€135 | -40.4% |
| Recurring financial charges | 65 | €335 | €200 | -€135 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | €26,075 | €35,567 | +€9,492 | +36.4% |
| Income taxes | 67/77 | €5,975 | €8,787 | +€2,812 | +47.1% |
| Profit (loss) for the period | 9904 | €20,100 | €26,780 | +€6,680 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,100 | €26,780 | +€6,680 | +33.2% |
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 10 October 2026 via checked.be.