Ets Henri Dethier: 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.
Ets Henri Dethier
Largest movements
- Cash +€748,686
up €748,686 (+202%), from €370,312 to €1.1m
mainly Net result for the year (+€965,262) and Investment in fixed assets (net) (+€337,356)
- Financial fixed assets -€384,488
no longer reported in 2025 (was €384,488)
- Receivables after one year +€324,721
new in 2025: €324,721
- Receivables within one year +€197,779
up €197,779 (+84.2%), from €235,023 to €432,802
of which Other amounts receivable: +€190,279
- Deferred charges and accrued income +€103,832
up €103,832 (+56,397%), from €184 to €104,016
- Reserves +€965,262
up €965,262 (+94.3%), from €1.0m to €2.0m
of which Distributable reserves: +€965,262
- Tax, wage and social debts +€53,830
up €53,830 (+132%), from €40,875 to €94,705
of which Taxes: +€49,872
- Financial income +€768,692
up €768,692 (+292%), from €263,474 to €1.0m
- Taxes +€69,631
up €69,631 (+183%), from €37,959 to €107,589
- Other operating charges +€6,371
up €6,371 (+28.7%), from €22,161 to €28,532
- Staff costs -€5,255
down €5,255 (-9.0%), from €58,261 to €53,006
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 | €1,146,766 | €2,169,728 | +€1.0m | +89.2% |
| Fixed assets | 21/28 | €422,656 | €70,600 | -€352,056 | -83.3% |
| Tangible fixed assets | 22/27 | €38,168 | €70,600 | +€32,433 | +85.0% |
| Land and buildings | 22 | €30,426 | €19,574 | -€10,852 | -35.7% |
| Furniture and vehicles | 24 | €7,741 | €51,026 | +€43,285 | +559% |
| Financial fixed assets | 28 | €384,488 | - | -€384,488 | |
| Current assets | 29/58 | €724,111 | €2,099,128 | +€1.4m | +190% |
| Amounts receivable after more than one year | 29 | - | €324,721 | +€324,721 | |
| Trade receivables | 290 | - | €324,721 | +€324,721 | |
| Amounts receivable within one year | 40/41 | €235,023 | €432,802 | +€197,779 | +84.2% |
| Trade receivables | 40 | €50,023 | €57,523 | +€7,500 | +15.0% |
| Other amounts receivable | 41 | €185,000 | €375,279 | +€190,279 | +103% |
| Current investments | 50/53 | €118,591 | €118,591 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €370,312 | €1,118,998 | +€748,686 | +202% |
| Deferred charges and accrued income | 490/1 | €184 | €104,016 | +€103,832 | +56,397% |
| Total equity and liabilities | 10/49 | €1,146,766 | €2,169,728 | +€1.0m | +89.2% |
| Equity | 10/15 | €1,102,230 | €2,067,492 | +€965,262 | +87.6% |
| Contributions | 10/11 | €76,925 | €76,925 | = | 0.0% |
| Capital | 10 | €70,800 | €70,800 | = | 0.0% |
| Issued capital | 100 | €70,800 | €70,800 | = | 0.0% |
| Contributions outside capital | 11 | €6,125 | €6,125 | = | 0.0% |
| Share premium | 1100/10 | €6,125 | €6,125 | = | 0.0% |
| Reserves | 13 | €1,023,433 | €1,988,695 | +€965,262 | +94.3% |
| Non-distributable reserves | 130/1 | €125,671 | €7,080 | -€118,591 | -94.4% |
| Legal reserve | 130 | €7,080 | €7,080 | = | 0.0% |
| Own shares acquired | 1312 | €118,591 | - | -€118,591 | |
| Tax-exempt reserves | 132 | - | €118,591 | +€118,591 | |
| Distributable reserves | 133 | €897,762 | €1,863,024 | +€965,262 | +108% |
| Profit (loss) carried forward | 14 | €1,872 | €1,872 | = | 0.0% |
| Amounts payable | 17/49 | €44,536 | €102,236 | +€57,700 | +130% |
| Amounts payable after more than one year | 17 | €800 | €800 | = | 0.0% |
| Other amounts payable | 178/9 | €800 | €800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €43,036 | €96,176 | +€53,140 | +123% |
| Trade debts | 44 | €2,162 | €1,471 | -€691 | -32.0% |
| Suppliers | 440/4 | €2,162 | €1,471 | -€691 | -32.0% |
| Taxes, remuneration and social security | 45 | €40,875 | €94,705 | +€53,830 | +132% |
| Taxes | 450/3 | €39,432 | €89,304 | +€49,872 | +126% |
| Remuneration and social security | 454/9 | €1,443 | €5,401 | +€3,958 | +274% |
| Accrued charges and deferred income | 492/3 | €700 | €5,260 | +€4,560 | +651% |
| Remuneration, social security and pensions | 62 | €58,261 | €53,006 | -€5,255 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,008 | €14,699 | +€691 | +4.9% |
| Other operating charges | 640/8 | €22,161 | €28,532 | +€6,371 | +28.7% |
| Gross operating margin | 9900 | €149,467 | €150,849 | +€1,382 | +0.9% |
| Operating profit (loss) | 9901 | €55,037 | €54,612 | -€425 | -0.8% |
| Financial income | 75/76B | €263,474 | €1,032,166 | +€768,692 | +292% |
| Recurring financial income | 75 | €263,474 | €1,032,166 | +€768,692 | +292% |
| Financial charges | 65/66B | €14,199 | €13,926 | -€272 | -1.9% |
| Recurring financial charges | 65 | €14,199 | €13,926 | -€272 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €304,312 | €1,072,851 | +€768,539 | +253% |
| Income taxes | 67/77 | €37,959 | €107,589 | +€69,631 | +183% |
| Profit (loss) for the period | 9904 | €266,353 | €965,262 | +€698,909 | +262% |
| Profit (loss) for the period to be appropriated | 9905 | €266,353 | €965,262 | +€698,909 | +262% |
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 17 October 2026 via checked.be.