EDOUARD HENRY: 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.
EDOUARD HENRY
Largest movements
- Current investments +€123,258
up €123,258 (+31.5%), from €391,164 to €514,422
- Cash +€56,086
up €56,086 (+33.0%), from €169,942 to €226,028
mainly Net result for the year (+€216,061) and Depreciation (+€40,439)
- Receivables within one year -€39,528
down €39,528 (-10.4%), from €378,589 to €339,060
of which Other amounts receivable: -€49,211
- Tangible fixed assets -€31,305
down €31,305 (-18.8%), from €166,458 to €135,153
of which Furniture and vehicles: -€27,644
- Reserves +€101,375
up €101,375 (+9.7%), from €1.0m to €1.1m
of which Distributable reserves: +€101,375
- Depreciation +€21,457
up €21,457 (+113%), from €18,982 to €40,439
- Financial income +€14,328
up €14,328 (+80.9%), from €17,707 to €32,035
of which Non-recurring financial income: +€23,410
- Financial charges -€9,133
down €9,133 (-98.0%), from €9,315 to €182
of which Non-recurring financial charges: -€9,131
- Write-downs -€8,560
down €8,560, from €4,280 to -€4,280
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 | €1,110,763 | €1,222,826 | +€112,062 | +10.1% |
| Fixed assets | 21/28 | €167,543 | €136,238 | -€31,305 | -18.7% |
| Tangible fixed assets | 22/27 | €166,458 | €135,153 | -€31,305 | -18.8% |
| Plant, machinery and equipment | 23 | €27,642 | €23,981 | -€3,662 | -13.2% |
| Furniture and vehicles | 24 | €138,816 | €111,172 | -€27,644 | -19.9% |
| Financial fixed assets | 28 | €1,085 | €1,085 | = | 0.0% |
| Current assets | 29/58 | €943,220 | €1,086,588 | +€143,367 | +15.2% |
| Amounts receivable within one year | 40/41 | €378,589 | €339,060 | -€39,528 | -10.4% |
| Trade receivables | 40 | €115,222 | €124,904 | +€9,682 | +8.4% |
| Other amounts receivable | 41 | €263,367 | €214,156 | -€49,211 | -18.7% |
| Current investments | 50/53 | €391,164 | €514,422 | +€123,258 | +31.5% |
| Cash at bank and in hand | 54/58 | €169,942 | €226,028 | +€56,086 | +33.0% |
| Deferred charges and accrued income | 490/1 | €3,525 | €7,077 | +€3,552 | +101% |
| Total equity and liabilities | 10/49 | €1,110,763 | €1,222,826 | +€112,062 | +10.1% |
| Equity | 10/15 | €1,043,128 | €1,144,505 | +€101,378 | +9.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €1,043,025 | €1,144,400 | +€101,375 | +9.7% |
| Tax-exempt reserves | 132 | €9,150 | €9,150 | = | 0.0% |
| Distributable reserves | 133 | €1,033,875 | €1,135,250 | +€101,375 | +9.8% |
| Profit (loss) carried forward | 14 | €3 | €5 | +€3 | +97.8% |
| Amounts payable | 17/49 | €67,636 | €78,320 | +€10,684 | +15.8% |
| Amounts payable within one year | 42/48 | €67,636 | €78,320 | +€10,684 | +15.8% |
| Trade debts | 44 | €9,560 | €8,910 | -€650 | -6.8% |
| Suppliers | 440/4 | €9,560 | €8,910 | -€650 | -6.8% |
| Taxes, remuneration and social security | 45 | €56,712 | €67,931 | +€11,219 | +19.8% |
| Taxes | 450/3 | €36,634 | €48,098 | +€11,464 | +31.3% |
| Remuneration and social security | 454/9 | €20,077 | €19,833 | -€245 | -1.2% |
| Other amounts payable | 47/48 | €1,364 | €1,479 | +€115 | +8.4% |
| Non-recurring operating income | 76A | €16,049 | - | -€16,049 | |
| Remuneration, social security and pensions | 62 | €170,867 | €168,012 | -€2,855 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,982 | €40,439 | +€21,457 | +113% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,280 | -€4,280 | -€8,560 | |
| Other operating charges | 640/8 | €4,828 | €4,717 | -€111 | -2.3% |
| Gross operating margin | 9900 | €495,055 | €493,679 | -€1,377 | -0.3% |
| Operating profit (loss) | 9901 | €296,099 | €284,791 | -€11,308 | -3.8% |
| Financial income | 75/76B | €17,707 | €32,035 | +€14,328 | +80.9% |
| Recurring financial income | 75 | €17,707 | €8,626 | -€9,081 | -51.3% |
| Non-recurring financial income | 76B | - | €23,410 | +€23,410 | |
| Financial charges | 65/66B | €9,315 | €182 | -€9,133 | -98.0% |
| Recurring financial charges | 65 | €184 | €182 | -€2 | -1.0% |
| Non-recurring financial charges | 66B | €9,131 | - | -€9,131 | |
| Profit (loss) for the period before taxes | 9903 | €304,491 | €316,644 | +€12,153 | +4.0% |
| Income taxes | 67/77 | €99,384 | €100,584 | +€1,200 | +1.2% |
| Profit (loss) for the period | 9904 | €205,108 | €216,061 | +€10,953 | +5.3% |
| Transfer from tax-exempt reserves | 789 | €42,100 | - | -€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €247,208 | €216,061 | -€31,147 | -12.6% |
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 28 October 2026 via checked.be.