DEN HENRI: 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.
DEN HENRI
Largest movements
- Cash +€70,410
up €70,410 (+38.8%), from €181,483 to €251,893
mainly Net result for the year (+€134,718) and Depreciation (+€11,613)
- Receivables within one year +€7,410
up €7,410 (+104%), from €7,159 to €14,569
of which Other amounts receivable: +€8,295
- Profit (loss) carried forward +€74,718
up €74,718 (+119%), from €62,849 to €137,567
- Other debts +€10,000
up €10,000 (+12.7%), from €78,980 to €88,980
- Current portion of long-term debt -€7,343
no longer reported in 2025 (was €7,343)
- Tax, wage and social debts +€6,584
up €6,584 (+38.9%), from €16,916 to €23,500
of which Remuneration and social security: +€4,382
- Trade debts -€3,991
down €3,991 (-10.9%), from €36,633 to €32,642
- Gross operating margin +€54,453
up €54,453 (+10.5%), from €517,688 to €572,140
- Staff costs +€32,106
up €32,106 (+9.1%), from €350,948 to €383,054
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 | €224,553 | €303,149 | +€78,595 | +35.0% |
| Fixed assets | 21/28 | €33,388 | €34,372 | +€984 | +2.9% |
| Tangible fixed assets | 22/27 | €32,902 | €33,862 | +€960 | +2.9% |
| Land and buildings | 22 | €6,472 | €7,742 | +€1,270 | +19.6% |
| Plant, machinery and equipment | 23 | €15,096 | €17,135 | +€2,039 | +13.5% |
| Furniture and vehicles | 24 | €11,334 | €8,984 | -€2,349 | -20.7% |
| Financial fixed assets | 28 | €486 | €510 | +€24 | +5.0% |
| Current assets | 29/58 | €191,165 | €268,777 | +€77,611 | +40.6% |
| Amounts receivable within one year | 40/41 | €7,159 | €14,569 | +€7,410 | +104% |
| Trade receivables | 40 | €5,517 | €4,632 | -€885 | -16.0% |
| Other amounts receivable | 41 | €1,642 | €9,937 | +€8,295 | +505% |
| Cash at bank and in hand | 54/58 | €181,483 | €251,893 | +€70,410 | +38.8% |
| Deferred charges and accrued income | 490/1 | €2,524 | €2,315 | -€209 | -8.3% |
| Total equity and liabilities | 10/49 | €224,553 | €303,149 | +€78,595 | +35.0% |
| Equity | 10/15 | €83,309 | €158,027 | +€74,718 | +89.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,849 | €137,567 | +€74,718 | +119% |
| Amounts payable | 17/49 | €141,244 | €145,122 | +€3,877 | +2.7% |
| Amounts payable within one year | 42/48 | €139,872 | €145,122 | +€5,250 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €7,343 | - | -€7,343 | |
| Trade debts | 44 | €36,633 | €32,642 | -€3,991 | -10.9% |
| Suppliers | 440/4 | €36,633 | €32,642 | -€3,991 | -10.9% |
| Taxes, remuneration and social security | 45 | €16,916 | €23,500 | +€6,584 | +38.9% |
| Taxes | 450/3 | €13,460 | €15,663 | +€2,203 | +16.4% |
| Remuneration and social security | 454/9 | €3,456 | €7,837 | +€4,382 | +127% |
| Other amounts payable | 47/48 | €78,980 | €88,980 | +€10,000 | +12.7% |
| Accrued charges and deferred income | 492/3 | €1,373 | - | -€1,373 | |
| Remuneration, social security and pensions | 62 | €350,948 | €383,054 | +€32,106 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,342 | €11,613 | +€1,271 | +12.3% |
| Other operating charges | 640/8 | €5,713 | €3,074 | -€2,638 | -46.2% |
| Gross operating margin | 9900 | €517,688 | €572,140 | +€54,453 | +10.5% |
| Operating profit (loss) | 9901 | €150,685 | €174,400 | +€23,714 | +15.7% |
| Financial income | 75/76B | €4 | €1 | -€3 | -68.9% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -68.9% |
| Financial charges | 65/66B | €11,405 | €11,120 | -€285 | -2.5% |
| Recurring financial charges | 65 | €11,405 | €11,120 | -€285 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | €139,284 | €163,281 | +€23,997 | +17.2% |
| Income taxes | 67/77 | €26,435 | €28,563 | +€2,128 | +8.0% |
| Profit (loss) for the period | 9904 | €112,849 | €134,718 | +€21,869 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €112,849 | €134,718 | +€21,869 | +19.4% |
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 16 October 2026 via checked.be.