H2X: what changed
H2X
Largest movements
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
- Cash +€287,641
up €287,641 (+82.2%), from €350,125 to €637,766
- Receivables within one year +€214,610
up €214,610 (+21.2%), from €1.0m to €1.2m
of which Other amounts receivable: +€252,232
- Debts after one year -€138,719
down €138,719 (-18.2%), from €763,716 to €624,997
of which Financial debts: -€138,719
- Reserves +€136,719
up €136,719 (+4.4%), from €3.1m to €3.2m
of which Distributable reserves: +€136,719
- Financial income -€1.3m
down €1.3m (-99.5%), from €1.3m to €6,146
of which Non-recurring financial income: -€1.1m
- Gross operating margin -€151,718
down €151,718 (-68.8%), from €220,481 to €68,763
- Taxes -€61,531
down €61,531 (-81.3%), from €75,654 to €14,123
- Financial charges -€4,417
down €4,417 (-32.7%), from €13,504 to €9,087
Change in the result, 2024 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,982,016 | €3,962,676 | -€19,340 | -0.5% |
| Fixed assets | 21/28 | €1,870,522 | €1,849,270 | -€21,252 | -1.1% |
| Tangible fixed assets | 22/27 | €1,320,522 | €1,299,270 | -€21,252 | -1.6% |
| Land and buildings | 22 | €1,320,522 | €1,299,270 | -€21,252 | -1.6% |
| Financial fixed assets | 28 | €550,000 | €550,000 | = | 0.0% |
| Current assets | 29/58 | €2,111,494 | €2,113,406 | +€1,912 | +0.1% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Other amounts receivable | 291 | €250,000 | €250,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,010,250 | €1,224,861 | +€214,610 | +21.2% |
| Trade receivables | 40 | €45,123 | €7,502 | -€37,621 | -83.4% |
| Other amounts receivable | 41 | €965,127 | €1,217,359 | +€252,232 | +26.1% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €350,125 | €637,766 | +€287,641 | +82.2% |
| Deferred charges and accrued income | 490/1 | €1,118 | €779 | -€339 | -30.3% |
| Total equity and liabilities | 10/49 | €3,982,016 | €3,962,676 | -€19,340 | -0.5% |
| Equity | 10/15 | €3,106,734 | €3,243,453 | +€136,719 | +4.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €3,086,734 | €3,223,453 | +€136,719 | +4.4% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €3,084,734 | €3,221,453 | +€136,719 | +4.4% |
| Amounts payable | 17/49 | €875,282 | €719,223 | -€156,059 | -17.8% |
| Amounts payable after more than one year | 17 | €763,716 | €624,997 | -€138,719 | -18.2% |
| Financial debts | 170/4 | €728,716 | €589,997 | -€138,719 | -19.0% |
| Other amounts payable | 178/9 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €111,566 | €94,226 | -€17,340 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €68,857 | €69,528 | +€671 | +1.0% |
| Trade debts | 44 | €755 | €7,562 | +€6,808 | +902% |
| Suppliers | 440/4 | €755 | €7,562 | +€6,808 | +902% |
| Taxes, remuneration and social security | 45 | €41,955 | €17,136 | -€24,818 | -59.2% |
| Taxes | 450/3 | €41,955 | €17,136 | -€24,818 | -59.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,626 | €10,626 | = | 0.0% |
| Other operating charges | 640/8 | €5,602 | €5,879 | +€278 | +5.0% |
| Gross operating margin | 9900 | €220,481 | €68,763 | -€151,718 | -68.8% |
| Operating profit (loss) | 9901 | €204,253 | €52,258 | -€151,995 | -74.4% |
| Financial income | 75/76B | €1,285,415 | €6,146 | -€1.3m | -99.5% |
| Recurring financial income | 75 | €207,145 | €6,146 | -€201,000 | -97.0% |
| Non-recurring financial income | 76B | €1,078,270 | - | -€1.1m | |
| Financial charges | 65/66B | €13,504 | €9,087 | -€4,417 | -32.7% |
| Recurring financial charges | 65 | €13,504 | €9,087 | -€4,417 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | €1,476,164 | €49,316 | -€1.4m | -96.7% |
| Income taxes | 67/77 | €75,654 | €14,123 | -€61,531 | -81.3% |
| Profit (loss) for the period | 9904 | €1,400,511 | €35,194 | -€1.4m | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,400,511 | €35,194 | -€1.4m | -97.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.