R & H: 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.
R & H
Largest movements
- Cash -€5,377
down €5,377 (-11.2%), from €48,121 to €42,744
mainly Investment in fixed assets (net) (-€13,813) and Other debts (-€13,609)
- Tangible fixed assets -€2,645
down €2,645 (-3.1%), from €86,664 to €84,019
of which Plant, machinery and equipment: -€6,362
- Trade debts +€15,251
up €15,251 (+150.7%), from €10,121 to €25,373
- Other debts -€13,609
down €13,609 (-28.5%), from €47,760 to €34,151
- Debts after one year -€6,899
down €6,899 (-26.4%), from €26,126 to €19,227
- Tax, wage and social debts -€4,100
down €4,100 (-70.8%), from €5,788 to €1,688
- Profit (loss) carried forward +€4,035
up €4,035 (+76.4%), from -€5,280 to -€1,245
- Gross operating margin +€15,796
up €15,796 (+97.3%), from €16,240 to €32,036
- Depreciation +€2,283
up €2,283 (+16.1%), from €14,175 to €16,458
- Financial charges +€1,713
up €1,713 (+38.0%), from €4,513 to €6,226
- Financial income -€473
down €473 (-94.4%), from €501 to €28
- Other operating charges +€330
up €330 (+6.9%), from €4,778 to €5,108
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 | €145,758 | €139,134 | -€6,624 | -4.5% |
| Fixed assets | 21/28 | €87,164 | €84,519 | -€2,645 | -3.0% |
| Tangible fixed assets | 22/27 | €86,664 | €84,019 | -€2,645 | -3.1% |
| Land and buildings | 22 | €35,848 | €34,028 | -€1,820 | -5.1% |
| Plant, machinery and equipment | 23 | €34,128 | €27,766 | -€6,362 | -18.6% |
| Furniture and vehicles | 24 | €5,096 | €14,373 | +€9,277 | +182.1% |
| Leasing and similar rights | 25 | €7,544 | €5,654 | -€1,890 | -25.1% |
| Other tangible fixed assets | 26 | €4,047 | €2,197 | -€1,850 | -45.7% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €58,594 | €54,615 | -€3,979 | -6.8% |
| Stocks and contracts in progress | 3 | €3,850 | €3,850 | = | 0.0% |
| Stocks | 30/36 | €3,850 | €3,850 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,746 | €6,725 | +€979 | +17.0% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €5,746 | €6,725 | +€979 | +17.0% |
| Cash at bank and in hand | 54/58 | €48,121 | €42,744 | -€5,377 | -11.2% |
| Deferred charges and accrued income | 490/1 | €877 | €1,296 | +€419 | +47.8% |
| Total equity and liabilities | 10/49 | €145,758 | €139,134 | -€6,624 | -4.5% |
| Equity | 10/15 | €47,258 | €51,293 | +€4,035 | +8.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,938 | €33,938 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €33,938 | €33,938 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,280 | -€1,245 | +€4,035 | +76.4% |
| Amounts payable | 17/49 | €98,500 | €87,841 | -€10,659 | -10.8% |
| Amounts payable after more than one year | 17 | €26,126 | €19,227 | -€6,899 | -26.4% |
| Financial debts | 170/4 | €26,126 | €19,227 | -€6,899 | -26.4% |
| Amounts payable within one year | 42/48 | €72,374 | €68,614 | -€3,760 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €6,672 | €7,402 | +€730 | +10.9% |
| Financial debts | 43 | €2,032 | €0 | -€2,032 | -100.0% |
| Credit institutions | 430/8 | €2,032 | €0 | -€2,032 | -100.0% |
| Trade debts | 44 | €10,121 | €25,373 | +€15,251 | +150.7% |
| Suppliers | 440/4 | €10,121 | €25,373 | +€15,251 | +150.7% |
| Taxes, remuneration and social security | 45 | €5,788 | €1,688 | -€4,100 | -70.8% |
| Taxes | 450/3 | €5,788 | €1,688 | -€4,100 | -70.8% |
| Other amounts payable | 47/48 | €47,760 | €34,151 | -€13,609 | -28.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €162 | €0 | -€162 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,175 | €16,458 | +€2,283 | +16.1% |
| Other operating charges | 640/8 | €4,778 | €5,108 | +€330 | +6.9% |
| Gross operating margin | 9900 | €16,240 | €32,036 | +€15,796 | +97.3% |
| Operating profit (loss) | 9901 | -€2,874 | €10,471 | +€13,345 | |
| Financial income | 75/76B | €501 | €28 | -€473 | -94.4% |
| Recurring financial income | 75 | €501 | €28 | -€473 | -94.4% |
| Financial charges | 65/66B | €4,513 | €6,226 | +€1,713 | +38.0% |
| Recurring financial charges | 65 | €4,513 | €6,226 | +€1,713 | +38.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,886 | €4,273 | +€11,159 | |
| Income taxes | 67/77 | €254 | €238 | -€16 | -6.3% |
| Profit (loss) for the period | 9904 | -€7,140 | €4,035 | +€11,175 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,140 | €4,035 | +€11,175 |
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 5 October 2026 via checked.be.