Caroline HEYNDERICKX: what changed
What changed
Caroline HEYNDERICKX
NACE 70.100, Activities of head offices
filed annual accounts (NBB)
Net result for the year
€146,392
2025 · €86,691+€59,700
Equity
€1.2m
2025 · €1.1m+€146,392
Cash
€196,040
2025 · €63,391+€132,649
Balance sheet total
€1.4m
2025 · €1.3m+€108,075
Largest movements
Assets
- Cash +€132,649
up €132,649 (+209%), from €63,391 to €196,040
mainly Net result for the year (+€146,392) and Depreciation (+€42,315)
- Tangible fixed assets -€42,315
down €42,315 (-8.3%), from €512,512 to €470,198
of which Land and buildings: -€24,614
- Current investments +€14,731
up €14,731 (+2.0%), from €746,899 to €761,630
Equity and liabilities
- Reserves +€146,392
up €146,392 (+14.4%), from €1.0m to €1.2m
- Other debts -€37,344
down €37,344 (-71.0%), from €52,632 to €15,288
- Tax, wage and social debts +€23,202
up €23,202 (+269%), from €8,633 to €31,835
Income statement
- Financial income +€97,213
up €97,213 (+268%), from €36,283 to €133,496
- Gross operating margin -€40,475
down €40,475 (-22.2%), from €182,512 to €142,037
- Other operating charges -€30,591
down €30,591 (-87.7%), from €34,901 to €4,310
- Taxes +€28,255
up €28,255 (+65.9%), from €42,882 to €71,137
- Depreciation -€3,853
down €3,853 (-8.3%), from €46,168 to €42,315
Change in the result, 2025 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.
Result 2025
€86,691
Gross operating margin
-€40,475
Depreciation
+€3,853
Other operating charges
+€30,591
Financial income
+€97,213
Financial charges
-€3,227
Taxes
-€28,255
Result 2026
€146,392
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€168,171
Investment
-€23,026
Financing
-€12,496
Cash 2025
€63,391
From operations (derived)
+€168,171
Net result for the year
+€146,392
Depreciation
+€42,315
Receivables within one year
+€5,426
Deferred charges and accrued income
-€139
Trade debts
+€1,520
Tax, wage and social debts
+€23,202
Other debts
-€37,344
Accrued charges and deferred income
-€13,200
Investment (derived)
-€23,026
Investment in fixed assets (net)
-€8,295
Current investments
-€14,731
Financing
-€12,496
Debts after one year
-€12,973
Current portion of long-term debt
+€530
Short-term financial debts
-€53
Cash 2026
€196,040
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,335,888 | €1,443,962 | +€108,075 | +8.1% |
| Fixed assets | 21/28 | €514,784 | €480,765 | -€34,019 | -6.6% |
| Tangible fixed assets | 22/27 | €512,512 | €470,198 | -€42,315 | -8.3% |
| Land and buildings | 22 | €436,443 | €411,829 | -€24,614 | -5.6% |
| Plant, machinery and equipment | 23 | €20,067 | €17,796 | -€2,271 | -11.3% |
| Furniture and vehicles | 24 | €56,003 | €40,572 | -€15,430 | -27.6% |
| Financial fixed assets | 28 | €2,272 | €10,567 | +€8,295 | +365% |
| Current assets | 29/58 | €821,103 | €963,197 | +€142,094 | +17.3% |
| Amounts receivable within one year | 40/41 | €5,648 | €222 | -€5,426 | -96.1% |
| Other amounts receivable | 41 | €5,648 | €222 | -€5,426 | -96.1% |
| Current investments | 50/53 | €746,899 | €761,630 | +€14,731 | +2.0% |
| Cash at bank and in hand | 54/58 | €63,391 | €196,040 | +€132,649 | +209% |
| Deferred charges and accrued income | 490/1 | €5,165 | €5,305 | +€139 | +2.7% |
| Total equity and liabilities | 10/49 | €1,335,888 | €1,443,962 | +€108,075 | +8.1% |
| Equity | 10/15 | €1,085,994 | €1,232,386 | +€146,392 | +13.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,017,723 | €1,164,115 | +€146,392 | +14.4% |
| Distributable reserves | 133 | €1,017,723 | €1,164,115 | +€146,392 | +14.4% |
| Profit (loss) carried forward | 14 | €55,871 | €55,871 | = | 0.0% |
| Provisions and deferred taxes | 16 | €104,029 | €104,029 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €104,029 | €104,029 | = | 0.0% |
| Pensions and similar obligations | 160 | €104,029 | €104,029 | = | 0.0% |
| Amounts payable | 17/49 | €145,864 | €107,547 | -€38,317 | -26.3% |
| Amounts payable after more than one year | 17 | €20,794 | €7,821 | -€12,973 | -62.4% |
| Financial debts | 170/4 | €20,794 | €7,821 | -€12,973 | -62.4% |
| Amounts payable within one year | 42/48 | €95,870 | €83,726 | -€12,144 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €12,443 | €12,973 | +€530 | +4.3% |
| Financial debts | 43 | €15,209 | €15,157 | -€53 | -0.3% |
| Credit institutions | 430/8 | €15,209 | €15,157 | -€53 | -0.3% |
| Trade debts | 44 | €6,953 | €8,473 | +€1,520 | +21.9% |
| Suppliers | 440/4 | €6,953 | €8,473 | +€1,520 | +21.9% |
| Taxes, remuneration and social security | 45 | €8,633 | €31,835 | +€23,202 | +269% |
| Taxes | 450/3 | €8,633 | €31,835 | +€23,202 | +269% |
| Other amounts payable | 47/48 | €52,632 | €15,288 | -€37,344 | -71.0% |
| Accrued charges and deferred income | 492/3 | €29,200 | €16,000 | -€13,200 | -45.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,168 | €42,315 | -€3,853 | -8.3% |
| Other operating charges | 640/8 | €34,901 | €4,310 | -€30,591 | -87.7% |
| Gross operating margin | 9900 | €182,512 | €142,037 | -€40,475 | -22.2% |
| Operating profit (loss) | 9901 | €101,444 | €95,413 | -€6,031 | -5.9% |
| Financial income | 75/76B | €36,283 | €133,496 | +€97,213 | +268% |
| Recurring financial income | 75 | €36,283 | €133,496 | +€97,213 | +268% |
| Financial charges | 65/66B | €8,154 | €11,381 | +€3,227 | +39.6% |
| Recurring financial charges | 65 | €8,154 | €11,381 | +€3,227 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €129,573 | €217,529 | +€87,955 | +67.9% |
| Income taxes | 67/77 | €42,882 | €71,137 | +€28,255 | +65.9% |
| Profit (loss) for the period | 9904 | €86,691 | €146,392 | +€59,700 | +68.9% |
| Profit (loss) for the period to be appropriated | 9905 | €86,691 | €146,392 | +€59,700 | +68.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.