Dr. HENCKENS: 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.
Dr. HENCKENS
Largest movements
- Current investments -€43,327
no longer reported in 2025 (was €43,327)
- Tangible fixed assets -€26,031
down €26,031 (-4.1%), from €636,387 to €610,356
of which Land and buildings: -€17,633
- Receivables within one year -€22,975
no longer reported in 2025 (was €22,975)
- Reserves -€49,231
down €49,231 (-8.7%), from €566,518 to €517,287
of which Tax-exempt reserves: -€79,920
- Provisions -€25,859
down €25,859 (-31.5%), from €82,128 to €56,269
- Other debts +€18,959
new in 2025: €18,959
- Profit (loss) carried forward -€17,485
down €17,485 (-157%), from -€11,110 to -€28,595
- Short-term financial debts -€15,435
down €15,435 (-97.7%), from €15,791 to €356
- Depreciation +€3,360
up €3,360 (+14.8%), from €22,671 to €26,031
- Financial charges -€1,567
down €1,567 (-77.4%), from €2,025 to €458
of which Financial charges: -€1,567
- Gross operating margin -€712
down €712, from €101 to -€611
- Financial income -€572
no longer reported in 2025 (was €572)
of which Financial income: -€572
- Taxes -€360
down €360 (-86.7%), from €415 to €55
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 | €735,089 | €639,331 | -€95,758 | -13.0% |
| Fixed assets | 21/28 | €636,387 | €610,356 | -€26,031 | -4.1% |
| Tangible fixed assets | 22/27 | €636,387 | €610,356 | -€26,031 | -4.1% |
| Land and buildings | 22 | €581,870 | €564,237 | -€17,633 | -3.0% |
| Plant, machinery and equipment | 23 | €4,828 | €3,692 | -€1,136 | -23.5% |
| Furniture and vehicles | 24 | €6,435 | €3,075 | -€3,360 | -52.2% |
| Other tangible fixed assets | 26 | €43,254 | €39,352 | -€3,902 | -9.0% |
| Current assets | 29/58 | €98,702 | €28,975 | -€69,727 | -70.6% |
| Amounts receivable after more than one year | 29 | €8,000 | €8,000 | = | 0.0% |
| Other amounts receivable | 291 | €8,000 | €8,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €22,975 | - | -€22,975 | |
| Other amounts receivable | 41 | €22,975 | - | -€22,975 | |
| Current investments | 50/53 | €43,327 | - | -€43,327 | |
| Cash at bank and in hand | 54/58 | €24,400 | €20,975 | -€3,425 | -14.0% |
| Total equity and liabilities | 10/49 | €735,089 | €639,331 | -€95,758 | -13.0% |
| Equity | 10/15 | €597,459 | €530,743 | -€66,716 | -11.2% |
| Contributions | 10/11 | €42,051 | €42,051 | = | 0.0% |
| Reserves | 13 | €566,518 | €517,287 | -€49,231 | -8.7% |
| Tax-exempt reserves | 132 | €328,511 | €248,591 | -€79,920 | -24.3% |
| Distributable reserves | 133 | €238,007 | €268,696 | +€30,689 | +12.9% |
| Profit (loss) carried forward | 14 | -€11,110 | -€28,595 | -€17,485 | -157% |
| Provisions and deferred taxes | 16 | €82,128 | €56,269 | -€25,859 | -31.5% |
| Deferred taxes | 168 | €82,128 | €56,269 | -€25,859 | -31.5% |
| Amounts payable | 17/49 | €55,502 | €52,319 | -€3,183 | -5.7% |
| Amounts payable within one year | 42/48 | €15,926 | €19,781 | +€3,855 | +24.2% |
| Financial debts | 43 | €15,791 | €356 | -€15,435 | -97.7% |
| Credit institutions | 430/8 | €15,791 | €356 | -€15,435 | -97.7% |
| Trade debts | 44 | - | €466 | +€466 | |
| Suppliers | 440/4 | - | €466 | +€466 | |
| Taxes, remuneration and social security | 45 | €135 | - | -€135 | |
| Taxes | 450/3 | €135 | - | -€135 | |
| Other amounts payable | 47/48 | - | €18,959 | +€18,959 | |
| Accrued charges and deferred income | 492/3 | €39,576 | €32,538 | -€7,038 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,671 | €26,031 | +€3,360 | +14.8% |
| Other operating charges | 640/8 | €1,865 | €2,054 | +€189 | +10.1% |
| Gross operating margin | 9900 | €101 | -€611 | -€712 | |
| Operating profit (loss) | 9901 | -€24,435 | -€28,696 | -€4,261 | -17.4% |
| Financial income | 75/76B | €572 | - | -€572 | |
| Recurring financial income | 75 | €572 | - | -€572 | |
| Non-recurring financial income | 76B | €572 | - | -€572 | |
| Financial charges | 65/66B | €2,025 | €458 | -€1,567 | -77.4% |
| Recurring financial charges | 65 | €2,025 | €458 | -€1,567 | -77.4% |
| Non-recurring financial charges | 66B | €2,025 | €458 | -€1,567 | -77.4% |
| Profit (loss) for the period before taxes | 9903 | -€25,888 | -€29,154 | -€3,266 | -12.6% |
| Transfer from deferred taxes | 780 | €3,039 | €79,920 | +€76,881 | +2,530% |
| Income taxes | 67/77 | €415 | €55 | -€360 | -86.7% |
| Profit (loss) for the period | 9904 | -€23,264 | €50,711 | +€73,975 | |
| Transfer from tax-exempt reserves | 789 | €12,154 | €25,858 | +€13,704 | +113% |
| Transfer to tax-exempt reserves | 689 | - | €94,054 | +€94,054 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,110 | -€17,485 | -€6,375 | -57.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.