ANDRE HENNAUT: what changed
What changed
ANDRE HENNAUT
filed annual accounts (NBB)
Net result for the year
-€36,021
2024 · -€29,600-€6,421
Equity
€700,951
2024 · €618,959+€81,991
Cash
€133,461
2024 · €133,994-€532
Balance sheet total
€1.4m
2024 · €1.3m+€129,596
Largest movements
Assets
- Tangible fixed assets +€130,238
up €130,238 (+11.2%), from €1.2m to €1.3m
of which Plant, machinery and equipment: +€86,851
Equity and liabilities
- Reserves +€115,639
up €115,639 (+345%), from €33,558 to €149,197
of which Tax-exempt reserves: +€115,639
- Provisions +€38,546
new in 2025: €38,546
- Profit (loss) carried forward -€33,647
down €33,647 (-28.1%), from -€119,856 to -€153,503
- Accrued charges and deferred income +€27,500
new in 2025: €27,500
- Current portion of long-term debt -€15,939
down €15,939 (-2.4%), from €663,677 to €647,738
Income statement
- Other operating charges +€16,118
up €16,118 (+71.9%), from €22,406 to €38,524
- Depreciation -€8,656
down €8,656 (-21.0%), from €41,205 to €32,549
- Financial charges -€7,988
down €7,988 (-15.4%), from €52,019 to €44,031
- Gross operating margin -€7,789
down €7,789 (-9.0%), from €86,553 to €78,764
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€29,600
Gross operating margin
-€7,789
Depreciation
+€8,656
Other operating charges
-€16,118
Financial charges
+€7,988
Taxes
+€51
Deferred taxes and other
+€791
Result 2025
-€36,021
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€60,182
Investment
-€162,787
Financing
+€102,073
Cash 2024
€133,994
From operations (derived)
+€60,182
Net result for the year
-€36,021
Depreciation
+€32,549
Smaller working-capital items
+€57
Provisions
+€38,546
Tax, wage and social debts
-€2,450
Accrued charges and deferred income
+€27,500
Investment (derived)
-€162,787
Investment in fixed assets (net)
-€162,787
Financing
+€102,073
Current portion of long-term debt
-€15,939
Contributions, distributions and other
+€118,012
Cash 2025
€133,461
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,301,681 | €1,431,277 | +€129,596 | +10.0% |
| Fixed assets | 21/28 | €1,163,726 | €1,293,963 | +€130,238 | +11.2% |
| Tangible fixed assets | 22/27 | €1,163,726 | €1,293,963 | +€130,238 | +11.2% |
| Land and buildings | 22 | €1,087,002 | €1,130,388 | +€43,386 | +4.0% |
| Plant, machinery and equipment | 23 | €76,724 | €163,575 | +€86,851 | +113% |
| Current assets | 29/58 | €137,955 | €137,313 | -€642 | -0.5% |
| Cash at bank and in hand | 54/58 | €133,994 | €133,461 | -€532 | -0.4% |
| Deferred charges and accrued income | 490/1 | €3,962 | €3,852 | -€110 | -2.8% |
| Total equity and liabilities | 10/49 | €1,301,681 | €1,431,277 | +€129,596 | +10.0% |
| Equity | 10/15 | €618,959 | €700,951 | +€81,991 | +13.2% |
| Contributions | 10/11 | €705,257 | €705,257 | = | 0.0% |
| Capital | 10 | €705,257 | €705,257 | = | 0.0% |
| Issued capital | 100 | €705,257 | €705,257 | = | 0.0% |
| Reserves | 13 | €33,558 | €149,197 | +€115,639 | +345% |
| Non-distributable reserves | 130/1 | €33,558 | €33,558 | = | 0.0% |
| Legal reserve | 130 | €33,558 | €33,558 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €115,639 | +€115,639 | |
| Profit (loss) carried forward | 14 | -€119,856 | -€153,503 | -€33,647 | -28.1% |
| Provisions and deferred taxes | 16 | - | €38,546 | +€38,546 | |
| Deferred taxes | 168 | - | €38,546 | +€38,546 | |
| Amounts payable | 17/49 | €682,722 | €691,780 | +€9,058 | +1.3% |
| Amounts payable after more than one year | 17 | €2,924 | €2,924 | = | 0.0% |
| Other amounts payable | 178/9 | €2,924 | €2,924 | = | 0.0% |
| Amounts payable within one year | 42/48 | €679,798 | €661,356 | -€18,442 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €663,677 | €647,738 | -€15,939 | -2.4% |
| Trade debts | 44 | €52 | - | -€52 | |
| Suppliers | 440/4 | €52 | - | -€52 | |
| Taxes, remuneration and social security | 45 | €16,068 | €13,618 | -€2,450 | -15.2% |
| Taxes | 450/3 | €16,068 | €13,618 | -€2,450 | -15.2% |
| Accrued charges and deferred income | 492/3 | - | €27,500 | +€27,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,205 | €32,549 | -€8,656 | -21.0% |
| Other operating charges | 640/8 | €22,406 | €38,524 | +€16,118 | +71.9% |
| Gross operating margin | 9900 | €86,553 | €78,764 | -€7,789 | -9.0% |
| Operating profit (loss) | 9901 | €22,942 | €7,691 | -€15,251 | -66.5% |
| Financial charges | 65/66B | €52,019 | €44,031 | -€7,988 | -15.4% |
| Recurring financial charges | 65 | €52,019 | €44,031 | -€7,988 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€29,077 | -€36,341 | -€7,263 | -25.0% |
| Transfer from deferred taxes | 780 | - | €791 | +€791 | |
| Income taxes | 67/77 | €523 | €471 | -€51 | -9.8% |
| Profit (loss) for the period | 9904 | -€29,600 | -€36,021 | -€6,421 | -21.7% |
| Transfer from tax-exempt reserves | 789 | - | €2,374 | +€2,374 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,600 | -€33,647 | -€4,047 | -13.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.