De Hen: 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.
De Hen
Largest movements
- Tangible fixed assets -€22,728
down €22,728 (-13.4%), from €169,111 to €146,383
of which Plant, machinery and equipment: -€19,887
- Receivables within one year -€14,449
down €14,449 (-77.1%), from €18,746 to €4,297
of which Trade receivables: -€14,836
- Cash +€6,302
up €6,302 (+125.0%), from €5,042 to €11,345
mainly Depreciation (+€41,414) and Net result for the year (+€40,879)
- Stocks and contracts +€6,232
up €6,232 (+23.9%), from €26,073 to €32,305
- Profit (loss) carried forward +€40,879
up €40,879 (+10.7%), from -€380,972 to -€340,092
- Other debts -€21,505
down €21,505 (-47.2%), from €45,546 to €24,041
- Current portion of long-term debt -€21,401
down €21,401 (-73.5%), from €29,099 to €7,698
- Trade debts -€16,537
down €16,537 (-6.6%), from €250,177 to €233,639
- Debts after one year -€7,698
down €7,698 (-7.4%), from €103,465 to €95,767
- Gross operating margin +€139,084
up €139,084 (+31.9%), from €435,629 to €574,714
- Staff costs -€34,192
down €34,192 (-6.9%), from €496,930 to €462,738
- Financial charges -€6,383
down €6,383 (-21.4%), from €29,861 to €23,477
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 | €223,835 | €200,329 | -€23,506 | -10.5% |
| Fixed assets | 21/28 | €170,737 | €148,009 | -€22,728 | -13.3% |
| Tangible fixed assets | 22/27 | €169,111 | €146,383 | -€22,728 | -13.4% |
| Land and buildings | 22 | €130,473 | €127,951 | -€2,521 | -1.9% |
| Plant, machinery and equipment | 23 | €38,154 | €18,268 | -€19,887 | -52.1% |
| Furniture and vehicles | 24 | €484 | €164 | -€320 | -66.1% |
| Financial fixed assets | 28 | €1,626 | €1,626 | = | 0.0% |
| Current assets | 29/58 | €53,098 | €52,320 | -€778 | -1.5% |
| Stocks and contracts in progress | 3 | €26,073 | €32,305 | +€6,232 | +23.9% |
| Stocks | 30/36 | €26,073 | €32,305 | +€6,232 | +23.9% |
| Amounts receivable within one year | 40/41 | €18,746 | €4,297 | -€14,449 | -77.1% |
| Trade receivables | 40 | €15,529 | €693 | -€14,836 | -95.5% |
| Other amounts receivable | 41 | €3,217 | €3,604 | +€387 | +12.0% |
| Cash at bank and in hand | 54/58 | €5,042 | €11,345 | +€6,302 | +125.0% |
| Deferred charges and accrued income | 490/1 | €3,237 | €4,374 | +€1,137 | +35.1% |
| Total equity and liabilities | 10/49 | €223,835 | €200,329 | -€23,506 | -10.5% |
| Equity | 10/15 | -€358,292 | -€317,413 | +€40,879 | +11.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,079 | €4,079 | = | 0.0% |
| Distributable reserves | 133 | €4,079 | €4,079 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€380,972 | -€340,092 | +€40,879 | +10.7% |
| Amounts payable | 17/49 | €582,127 | €517,742 | -€64,386 | -11.1% |
| Amounts payable after more than one year | 17 | €103,465 | €95,767 | -€7,698 | -7.4% |
| Financial debts | 170/4 | €103,465 | €95,767 | -€7,698 | -7.4% |
| Amounts payable within one year | 42/48 | €476,125 | €421,975 | -€54,150 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €29,099 | €7,698 | -€21,401 | -73.5% |
| Financial debts | 43 | €66,182 | €66,873 | +€690 | +1.0% |
| Credit institutions | 430/8 | €66,182 | €66,873 | +€690 | +1.0% |
| Trade debts | 44 | €250,177 | €233,639 | -€16,537 | -6.6% |
| Suppliers | 440/4 | €250,177 | €233,639 | -€16,537 | -6.6% |
| Taxes, remuneration and social security | 45 | €85,121 | €89,724 | +€4,603 | +5.4% |
| Taxes | 450/3 | €35,374 | €47,368 | +€11,995 | +33.9% |
| Remuneration and social security | 454/9 | €49,748 | €42,356 | -€7,392 | -14.9% |
| Other amounts payable | 47/48 | €45,546 | €24,041 | -€21,505 | -47.2% |
| Accrued charges and deferred income | 492/3 | €2,537 | €0 | -€2,537 | -100.0% |
| Remuneration, social security and pensions | 62 | €496,930 | €462,738 | -€34,192 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,317 | €41,414 | -€3,904 | -8.6% |
| Other operating charges | 640/8 | €11,084 | €5,949 | -€5,135 | -46.3% |
| Gross operating margin | 9900 | €435,629 | €574,714 | +€139,084 | +31.9% |
| Operating profit (loss) | 9901 | -€117,702 | €64,613 | +€182,315 | |
| Financial income | 75/76B | €581 | €1 | -€580 | -99.9% |
| Recurring financial income | 75 | €581 | €1 | -€580 | -99.9% |
| Financial charges | 65/66B | €29,861 | €23,477 | -€6,383 | -21.4% |
| Recurring financial charges | 65 | €29,861 | €23,477 | -€6,383 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | -€146,981 | €41,137 | +€188,118 | |
| Income taxes | 67/77 | €280 | €257 | -€22 | -8.0% |
| Profit (loss) for the period | 9904 | -€147,261 | €40,879 | +€188,140 | |
| Profit (loss) for the period to be appropriated | 9905 | -€147,261 | €40,879 | +€188,140 |
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.