BRUNO HEYNDRICKX: 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.
BRUNO HEYNDRICKX
Largest movements
- Cash -€118,628
down €118,628 (-28.2%), from €420,311 to €301,682
mainly Contributions, distributions and other (-€392,963) and Investment in fixed assets (net) (-€132,372)
- Tangible fixed assets +€79,333
up €79,333 (+18.8%), from €422,228 to €501,562
of which Land and buildings: +€111,772
- Receivables within one year +€35,540
up €35,540 (+803%), from €4,425 to €39,965
of which Other amounts receivable: +€35,082
- Other debts +€369,827
up €369,827 (+93.9%), from €393,779 to €763,607
- Reserves -€312,129
down €312,129 (-18.5%), from €1.7m to €1.4m
- Tax, wage and social debts -€61,534
down €61,534 (-87.1%), from €70,650 to €9,116
of which Taxes: -€50,909
- Financial income -€201,835
down €201,835 (-82.6%), from €244,414 to €42,580
- Financial charges +€83,997
up €83,997 (+161%), from €52,328 to €136,325
- Taxes -€82,375
down €82,375 (-62.4%), from €132,107 to €49,733
- Gross operating margin +€14,793
up €14,793 (+4.4%), from €340,040 to €354,832
- Staff costs -€12,660
down €12,660 (-15.8%), from €80,179 to €67,519
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.
Derived cash bridge
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 | €2,218,760 | €2,211,459 | -€7,301 | -0.3% |
| Fixed assets | 21/28 | €422,382 | €501,716 | +€79,333 | +18.8% |
| Tangible fixed assets | 22/27 | €422,228 | €501,562 | +€79,333 | +18.8% |
| Land and buildings | 22 | €357,751 | €469,523 | +€111,772 | +31.2% |
| Plant, machinery and equipment | 23 | €25,426 | €7,001 | -€18,425 | -72.5% |
| Furniture and vehicles | 24 | €39,051 | €25,037 | -€14,014 | -35.9% |
| Financial fixed assets | 28 | €154 | €154 | = | 0.0% |
| Current assets | 29/58 | €1,796,378 | €1,709,743 | -€86,634 | -4.8% |
| Amounts receivable within one year | 40/41 | €4,425 | €39,965 | +€35,540 | +803% |
| Trade receivables | 40 | €4,375 | €4,832 | +€457 | +10.5% |
| Other amounts receivable | 41 | €50 | €35,132 | +€35,082 | +70,165% |
| Current investments | 50/53 | €1,347,641 | €1,337,400 | -€10,241 | -0.8% |
| Cash at bank and in hand | 54/58 | €420,311 | €301,682 | -€118,628 | -28.2% |
| Deferred charges and accrued income | 490/1 | €24,001 | €30,696 | +€6,695 | +27.9% |
| Total equity and liabilities | 10/49 | €2,218,760 | €2,211,459 | -€7,301 | -0.3% |
| Equity | 10/15 | €1,709,894 | €1,397,765 | -€312,129 | -18.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,691,294 | €1,379,165 | -€312,129 | -18.5% |
| Distributable reserves | 133 | €1,691,294 | €1,379,165 | -€312,129 | -18.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €508,866 | €813,694 | +€304,828 | +59.9% |
| Amounts payable within one year | 42/48 | €465,407 | €772,722 | +€307,315 | +66.0% |
| Trade debts | 44 | €979 | €0 | -€979 | -100% |
| Suppliers | 440/4 | €979 | €0 | -€979 | -100% |
| Taxes, remuneration and social security | 45 | €70,650 | €9,116 | -€61,534 | -87.1% |
| Taxes | 450/3 | €60,025 | €9,116 | -€50,909 | -84.8% |
| Remuneration and social security | 454/9 | €10,624 | €0 | -€10,624 | -100% |
| Other amounts payable | 47/48 | €393,779 | €763,607 | +€369,827 | +93.9% |
| Accrued charges and deferred income | 492/3 | €43,459 | €40,971 | -€2,488 | -5.7% |
| Remuneration, social security and pensions | 62 | €80,179 | €67,519 | -€12,660 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,373 | €53,039 | +€2,666 | +5.3% |
| Other operating charges | 640/8 | €8,381 | €9,961 | +€1,581 | +18.9% |
| Gross operating margin | 9900 | €340,040 | €354,832 | +€14,793 | +4.4% |
| Operating profit (loss) | 9901 | €201,107 | €224,313 | +€23,205 | +11.5% |
| Financial income | 75/76B | €244,414 | €42,580 | -€201,835 | -82.6% |
| Recurring financial income | 75 | €244,414 | €42,580 | -€201,835 | -82.6% |
| Financial charges | 65/66B | €52,328 | €136,325 | +€83,997 | +161% |
| Recurring financial charges | 65 | €52,328 | €136,325 | +€83,997 | +161% |
| Profit (loss) for the period before taxes | 9903 | €393,194 | €130,567 | -€262,627 | -66.8% |
| Income taxes | 67/77 | €132,107 | €49,733 | -€82,375 | -62.4% |
| Profit (loss) for the period | 9904 | €261,086 | €80,834 | -€180,252 | -69.0% |
| Profit (loss) for the period to be appropriated | 9905 | €261,086 | €80,834 | -€180,252 | -69.0% |
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 15 October 2026 via checked.be.