T & H Projects: 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.
T & H Projects
Largest movements
- Stocks and contracts +€108,888
up €108,888 (+40.9%), from €265,963 to €374,851
- Cash +€7,613
up €7,613 (+880.3%), from €865 to €8,478
mainly Debts after one year (+€157,500) and Short-term financial debts (+€40,000)
- Debts after one year +€157,500
new in 2025: €157,500
- Other debts -€96,000
down €96,000 (-100.0%), from €96,000 to €0
- Short-term financial debts +€40,000
up €40,000 (+24.2%), from €165,000 to €205,000
- Trade debts +€36,933
up €36,933 (+8422.0%), from €439 to €37,372
- Profit (loss) carried forward -€30,308
down €30,308 (-1158.6%), from -€2,616 to -€32,924
- Financial charges +€13,052
up €13,052 (+1214.1%), from €1,075 to €14,127
- Gross operating margin -€12,313
down €12,313 (-996.4%), from -€1,236 to -€13,549
- Other operating charges +€2,327
up €2,327 (+762.8%), from €305 to €2,633
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 | €267,266 | €386,506 | +€119,240 | +44.6% |
| Current assets | 29/58 | €267,266 | €386,506 | +€119,240 | +44.6% |
| Stocks and contracts in progress | 3 | €265,963 | €374,851 | +€108,888 | +40.9% |
| Stocks | 30/36 | €265,963 | €374,851 | +€108,888 | +40.9% |
| Cash at bank and in hand | 54/58 | €865 | €8,478 | +€7,613 | +880.3% |
| Deferred charges and accrued income | 490/1 | €439 | €3,177 | +€2,739 | +624.5% |
| Total equity and liabilities | 10/49 | €267,266 | €386,506 | +€119,240 | +44.6% |
| Equity | 10/15 | €2,384 | -€27,924 | -€30,308 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,616 | -€32,924 | -€30,308 | -1158.6% |
| Amounts payable | 17/49 | €264,882 | €414,430 | +€149,548 | +56.5% |
| Amounts payable after more than one year | 17 | - | €157,500 | +€157,500 | |
| Financial debts | 170/4 | - | €157,500 | +€157,500 | |
| Amounts payable within one year | 42/48 | €264,376 | €252,544 | -€11,831 | -4.5% |
| Financial debts | 43 | €165,000 | €205,000 | +€40,000 | +24.2% |
| Credit institutions | 430/8 | €165,000 | €205,000 | +€40,000 | +24.2% |
| Trade debts | 44 | €439 | €37,372 | +€36,933 | +8422.0% |
| Suppliers | 440/4 | €439 | €37,372 | +€36,933 | +8422.0% |
| Taxes, remuneration and social security | 45 | €2,937 | €10,173 | +€7,236 | +246.4% |
| Taxes | 450/3 | €2,937 | €10,173 | +€7,236 | +246.4% |
| Other amounts payable | 47/48 | €96,000 | €0 | -€96,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €507 | €4,386 | +€3,879 | +765.6% |
| Other operating charges | 640/8 | €305 | €2,633 | +€2,327 | +762.8% |
| Gross operating margin | 9900 | -€1,236 | -€13,549 | -€12,313 | -996.4% |
| Operating profit (loss) | 9901 | -€1,541 | -€16,181 | -€14,641 | -950.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €1,075 | €14,127 | +€13,052 | +1214.1% |
| Recurring financial charges | 65 | €1,075 | €14,127 | +€13,052 | +1214.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,616 | -€30,308 | -€27,692 | -1058.6% |
| Profit (loss) for the period | 9904 | -€2,616 | -€30,308 | -€27,692 | -1058.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,616 | -€30,308 | -€27,692 | -1058.6% |
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 11 October 2026 via checked.be.