Dr. Hendrickx Maarten: 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. Hendrickx Maarten
Largest movements
- Cash -€89,757
down €89,757 (-33.7%), from €266,433 to €176,676
mainly Contributions, distributions and other (-€315,496) and Receivables within one year (-€16,275)
- Receivables within one year +€16,275
up €16,275 (+77.4%), from €21,031 to €37,306
of which Trade receivables: +€15,101
- Deferred charges and accrued income -€7,018
down €7,018 (-33.8%), from €20,738 to €13,721
- Reserves -€229,636
down €229,636 (-84.9%), from €270,496 to €40,861
- Other debts +€154,582
up €154,582 (+1,500%), from €10,307 to €164,889
- Tax, wage and social debts -€4,642
down €4,642 (-93.7%), from €4,956 to €314
- Gross operating margin -€12,127
down €12,127 (-9.6%), from €126,436 to €114,309
- Taxes -€3,140
down €3,140 (-11.5%), from €27,216 to €24,076
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 | €308,377 | €227,703 | -€80,674 | -26.2% |
| Fixed assets | 21/28 | €175 | - | -€175 | |
| Tangible fixed assets | 22/27 | €175 | - | -€175 | |
| Furniture and vehicles | 24 | €175 | - | -€175 | |
| Current assets | 29/58 | €308,203 | €227,703 | -€80,499 | -26.1% |
| Amounts receivable within one year | 40/41 | €21,031 | €37,306 | +€16,275 | +77.4% |
| Trade receivables | 40 | €21,031 | €36,132 | +€15,101 | +71.8% |
| Other amounts receivable | 41 | - | €1,174 | +€1,174 | |
| Cash at bank and in hand | 54/58 | €266,433 | €176,676 | -€89,757 | -33.7% |
| Deferred charges and accrued income | 490/1 | €20,738 | €13,721 | -€7,018 | -33.8% |
| Total equity and liabilities | 10/49 | €308,377 | €227,703 | -€80,674 | -26.2% |
| Equity | 10/15 | €280,496 | €50,861 | -€229,636 | -81.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €270,496 | €40,861 | -€229,636 | -84.9% |
| Distributable reserves | 133 | €270,496 | €40,861 | -€229,636 | -84.9% |
| Amounts payable | 17/49 | €27,881 | €176,842 | +€148,961 | +534% |
| Amounts payable within one year | 42/48 | €23,921 | €173,592 | +€149,671 | +626% |
| Trade debts | 44 | €8,658 | €8,389 | -€269 | -3.1% |
| Suppliers | 440/4 | €8,658 | €7,817 | -€841 | -9.7% |
| Bills of exchange payable | 441 | - | €572 | +€572 | |
| Taxes, remuneration and social security | 45 | €4,956 | €314 | -€4,642 | -93.7% |
| Taxes | 450/3 | €4,956 | €314 | -€4,642 | -93.7% |
| Other amounts payable | 47/48 | €10,307 | €164,889 | +€154,582 | +1,500% |
| Accrued charges and deferred income | 492/3 | €3,960 | €3,250 | -€710 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €349 | €175 | -€174 | -49.9% |
| Other operating charges | 640/8 | €745 | €1,043 | +€298 | +40.0% |
| Gross operating margin | 9900 | €126,436 | €114,309 | -€12,127 | -9.6% |
| Operating profit (loss) | 9901 | €125,342 | €113,091 | -€12,251 | -9.8% |
| Financial income | 75/76B | €118 | €40 | -€78 | -66.0% |
| Recurring financial income | 75 | €118 | €40 | -€78 | -66.0% |
| Financial charges | 65/66B | €3,230 | €3,195 | -€35 | -1.1% |
| Recurring financial charges | 65 | €3,230 | €3,195 | -€35 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €122,230 | €109,937 | -€12,294 | -10.1% |
| Income taxes | 67/77 | €27,216 | €24,076 | -€3,140 | -11.5% |
| Profit (loss) for the period | 9904 | €95,015 | €85,861 | -€9,154 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €95,015 | €85,861 | -€9,154 | -9.6% |
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 20 October 2026 via checked.be.