Dr. Hendrix Sam: what changed
Two fiscal 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. Hendrix Sam
Largest movements
- Cash +€52,279
up €52,279 (+81.4%), from €64,253 to €116,532
mainly Net result for the year (+€61,803) and Depreciation (+€35,312)
- Tangible fixed assets -€35,312
down €35,312 (-6.3%), from €563,189 to €527,877
of which Other tangible fixed assets: -€24,950
- Receivables within one year -€15,321
down €15,321 (-29.8%), from €51,331 to €36,010
- Reserves +€61,803
up €61,803 (+28.8%), from €214,725 to €276,528
- Debts after one year -€61,223
down €61,223 (-24.5%), from €249,523 to €188,300
- Gross operating margin +€4,747
up €4,747 (+3.6%), from €132,200 to €136,947
- Taxes +€2,127
up €2,127 (+9.0%), from €23,568 to €25,695
- Depreciation -€1,817
down €1,817 (-4.9%), from €37,129 to €35,312
- Financial charges +€1,714
up €1,714 (+19.8%), from €8,635 to €10,349
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 | €682,452 | €684,264 | +€1,812 | +0.3% |
| Fixed assets | 21/28 | €565,689 | €530,377 | -€35,312 | -6.2% |
| Tangible fixed assets | 22/27 | €563,189 | €527,877 | -€35,312 | -6.3% |
| Land and buildings | 22 | €381,594 | €371,232 | -€10,362 | -2.7% |
| Other tangible fixed assets | 26 | €181,595 | €156,645 | -€24,950 | -13.7% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €116,763 | €153,887 | +€37,124 | +31.8% |
| Amounts receivable within one year | 40/41 | €51,331 | €36,010 | -€15,321 | -29.8% |
| Trade receivables | 40 | €51,331 | €36,010 | -€15,321 | -29.8% |
| Cash at bank and in hand | 54/58 | €64,253 | €116,532 | +€52,279 | +81.4% |
| Deferred charges and accrued income | 490/1 | €1,179 | €1,345 | +€166 | +14.1% |
| Total equity and liabilities | 10/49 | €682,452 | €684,264 | +€1,812 | +0.3% |
| Equity | 10/15 | €302,190 | €363,993 | +€61,803 | +20.5% |
| Contributions | 10/11 | €86,118 | €86,118 | = | 0.0% |
| Capital | 10 | €86,118 | €86,118 | = | 0.0% |
| Issued capital | 100 | €86,118 | €86,118 | = | 0.0% |
| Reserves | 13 | €214,725 | €276,528 | +€61,803 | +28.8% |
| Distributable reserves | 133 | €214,725 | €276,528 | +€61,803 | +28.8% |
| Profit (loss) carried forward | 14 | €1,347 | €1,347 | = | 0.0% |
| Amounts payable | 17/49 | €380,262 | €320,271 | -€59,991 | -15.8% |
| Amounts payable after more than one year | 17 | €249,523 | €188,300 | -€61,223 | -24.5% |
| Financial debts | 170/4 | €249,523 | €188,300 | -€61,223 | -24.5% |
| Amounts payable within one year | 42/48 | €126,604 | €126,200 | -€404 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €63,889 | €61,223 | -€2,666 | -4.2% |
| Trade debts | 44 | €2,483 | €5,993 | +€3,510 | +141.4% |
| Suppliers | 440/4 | €2,483 | €5,993 | +€3,510 | +141.4% |
| Taxes, remuneration and social security | 45 | €6,551 | €2,695 | -€3,856 | -58.9% |
| Taxes | 450/3 | €6,551 | €2,695 | -€3,856 | -58.9% |
| Other amounts payable | 47/48 | €53,681 | €56,289 | +€2,608 | +4.9% |
| Accrued charges and deferred income | 492/3 | €4,135 | €5,771 | +€1,636 | +39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,129 | €35,312 | -€1,817 | -4.9% |
| Other operating charges | 640/8 | €3,784 | €3,788 | +€4 | +0.1% |
| Gross operating margin | 9900 | €132,200 | €136,947 | +€4,747 | +3.6% |
| Operating profit (loss) | 9901 | €91,287 | €97,847 | +€6,560 | +7.2% |
| Financial charges | 65/66B | €8,635 | €10,349 | +€1,714 | +19.8% |
| Recurring financial charges | 65 | €8,635 | €10,349 | +€1,714 | +19.8% |
| Profit (loss) for the period before taxes | 9903 | €82,652 | €87,498 | +€4,846 | +5.9% |
| Income taxes | 67/77 | €23,568 | €25,695 | +€2,127 | +9.0% |
| Profit (loss) for the period | 9904 | €59,084 | €61,803 | +€2,719 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,084 | €61,803 | +€2,719 | +4.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.