Gregory Henderyckx: what changed
Gregory Henderyckx
Largest movements
- Receivables within one year -€18,017
down €18,017 (-58.4%), from €30,876 to €12,858
of which Other amounts receivable: -€16,854
- Cash +€8,292
up €8,292 (+21.8%), from €38,116 to €46,408
mainly Other debts (+€50,532) and Receivables within one year (+€18,017)
- Deferred charges and accrued income -€1,046
down €1,046 (-81.6%), from €1,282 to €236
- Profit (loss) carried forward -€62,386
no longer reported in 2025 (was €62,386)
- Other debts +€50,532
new in 2025: €50,532
- Tax, wage and social debts +€3,555
up €3,555 (+110%), from €3,224 to €6,779
- Short-term financial debts -€2,039
down €2,039 (-50.3%), from €4,057 to €2,018
- Gross operating margin -€6,210
down €6,210 (-24.3%), from €25,524 to €19,314
- Taxes -€1,376
down €1,376 (-25.4%), from €5,408 to €4,032
- Depreciation +€490
up €490 (+61.3%), from €799 to €1,288
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €73,478 | €62,724 | -€10,754 | -14.6% |
| Fixed assets | 21/28 | €3,205 | €3,221 | +€17 | +0.5% |
| Tangible fixed assets | 22/27 | €3,205 | €3,221 | +€17 | +0.5% |
| Plant, machinery and equipment | 23 | €2,133 | €1,205 | -€928 | -43.5% |
| Furniture and vehicles | 24 | €1,072 | €2,016 | +€945 | +88.2% |
| Current assets | 29/58 | €70,273 | €59,503 | -€10,771 | -15.3% |
| Amounts receivable within one year | 40/41 | €30,876 | €12,858 | -€18,017 | -58.4% |
| Trade receivables | 40 | €12,054 | €10,890 | -€1,164 | -9.7% |
| Other amounts receivable | 41 | €18,822 | €1,968 | -€16,854 | -89.5% |
| Cash at bank and in hand | 54/58 | €38,116 | €46,408 | +€8,292 | +21.8% |
| Deferred charges and accrued income | 490/1 | €1,282 | €236 | -€1,046 | -81.6% |
| Total equity and liabilities | 10/49 | €73,478 | €62,724 | -€10,754 | -14.6% |
| Equity | 10/15 | €64,886 | €2,500 | -€62,386 | -96.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,386 | - | -€62,386 | |
| Amounts payable | 17/49 | €8,592 | €60,224 | +€51,632 | +601% |
| Amounts payable within one year | 42/48 | €8,592 | €60,224 | +€51,632 | +601% |
| Financial debts | 43 | €4,057 | €2,018 | -€2,039 | -50.3% |
| Credit institutions | 430/8 | €4,057 | €2,018 | -€2,039 | -50.3% |
| Trade debts | 44 | €1,311 | €894 | -€417 | -31.8% |
| Suppliers | 440/4 | €1,311 | €894 | -€417 | -31.8% |
| Taxes, remuneration and social security | 45 | €3,224 | €6,779 | +€3,555 | +110% |
| Taxes | 450/3 | €3,224 | €6,779 | +€3,555 | +110% |
| Other amounts payable | 47/48 | - | €50,532 | +€50,532 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €799 | €1,288 | +€490 | +61.3% |
| Other operating charges | 640/8 | €993 | €1,069 | +€76 | +7.6% |
| Gross operating margin | 9900 | €25,524 | €19,314 | -€6,210 | -24.3% |
| Operating profit (loss) | 9901 | €23,732 | €16,957 | -€6,775 | -28.5% |
| Financial charges | 65/66B | €2,520 | €2,352 | -€168 | -6.7% |
| Recurring financial charges | 65 | €2,520 | €2,352 | -€168 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €21,213 | €14,605 | -€6,607 | -31.1% |
| Income taxes | 67/77 | €5,408 | €4,032 | -€1,376 | -25.4% |
| Profit (loss) for the period | 9904 | €15,805 | €10,574 | -€5,231 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,805 | €10,574 | -€5,231 | -33.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.