H EN W: what changed
What changed
H EN W
NACE 55.100, Hotels and similar accommodation
filed annual accounts (NBB)
Net result for the year
€27,342
2024 · €17,380+€9,962
Equity
€417,591
2024 · €391,915+€25,676
Cash
€47,742
2024 · €32,303+€15,439
Balance sheet total
€467,528
2024 · €467,941-€413
Largest movements
Assets
- Cash +€15,439
up €15,439 (+47.8%), from €32,303 to €47,742
mainly Net result for the year (+€27,342) and Depreciation (+€12,798)
- Tangible fixed assets -€11,425
down €11,425 (-3.7%), from €306,223 to €294,799
Equity and liabilities
- Reserves +€25,676
up €25,676 (+6.7%), from €385,718 to €411,394
- Tax, wage and social debts -€19,329
down €19,329 (-79.1%), from €24,432 to €5,103
- Debts after one year -€11,588
down €11,588 (-43.1%), from €26,884 to €15,295
Income statement
- Gross operating margin +€17,489
up €17,489 (+36.6%), from €47,785 to €65,274
- Taxes +€3,520
up €3,520 (+37.2%), from €9,457 to €12,977
- Other operating charges +€2,128
up €2,128 (+17.1%), from €12,426 to €14,554
- Financial income -€772
down €772 (-12.1%), from €6,406 to €5,634
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.
Result 2024
€17,380
Gross operating margin
+€17,489
Depreciation
-€520
Other operating charges
-€2,128
Financial income
-€772
Financial charges
-€586
Taxes
-€3,520
Result 2025
€27,342
raises the resultlowers the result
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.
From operations
+€29,520
Investment
-€1,373
Financing
-€12,708
Cash 2024
€32,303
From operations (derived)
+€29,520
Net result for the year
+€27,342
Depreciation
+€12,798
Receivables within one year
+€312
Deferred charges and accrued income
+€4,116
Trade debts
+€318
Tax, wage and social debts
-€19,329
Smaller working-capital items
-€36
Accrued charges and deferred income
+€4,000
Investment (derived)
-€1,373
Investment in fixed assets (net)
-€1,373
Financing
-€12,708
Debts after one year
-€11,588
Current portion of long-term debt
+€547
Contributions, distributions and other
-€1,666
Cash 2025
€47,742
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €467,941 | €467,528 | -€413 | -0.1% |
| Fixed assets | 21/28 | €306,223 | €294,799 | -€11,425 | -3.7% |
| Tangible fixed assets | 22/27 | €306,223 | €294,799 | -€11,425 | -3.7% |
| Land and buildings | 22 | €280,185 | €274,511 | -€5,674 | -2.0% |
| Plant, machinery and equipment | 23 | €4,352 | €3,871 | -€481 | -11.0% |
| Furniture and vehicles | 24 | €21,686 | €16,416 | -€5,270 | -24.3% |
| Current assets | 29/58 | €161,717 | €172,729 | +€11,012 | +6.8% |
| Amounts receivable within one year | 40/41 | €111,598 | €111,286 | -€312 | -0.3% |
| Trade receivables | 40 | €5,128 | €12,417 | +€7,289 | +142% |
| Other amounts receivable | 41 | €106,470 | €98,869 | -€7,601 | -7.1% |
| Cash at bank and in hand | 54/58 | €32,303 | €47,742 | +€15,439 | +47.8% |
| Deferred charges and accrued income | 490/1 | €17,817 | €13,701 | -€4,116 | -23.1% |
| Total equity and liabilities | 10/49 | €467,941 | €467,528 | -€413 | -0.1% |
| Equity | 10/15 | €391,915 | €417,591 | +€25,676 | +6.6% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €385,718 | €411,394 | +€25,676 | +6.7% |
| Distributable reserves | 133 | €385,718 | €411,394 | +€25,676 | +6.7% |
| Amounts payable | 17/49 | €76,026 | €49,936 | -€26,089 | -34.3% |
| Amounts payable after more than one year | 17 | €26,884 | €15,295 | -€11,588 | -43.1% |
| Financial debts | 170/4 | €26,884 | €15,295 | -€11,588 | -43.1% |
| Amounts payable within one year | 42/48 | €49,142 | €30,641 | -€18,501 | -37.6% |
| Current portion of amounts payable after more than one year | 42 | €11,042 | €11,588 | +€547 | +5.0% |
| Trade debts | 44 | €7,743 | €8,061 | +€318 | +4.1% |
| Suppliers | 440/4 | €7,743 | €8,061 | +€318 | +4.1% |
| Advances received on contracts in progress | 46 | €4,207 | €4,223 | +€16 | +0.4% |
| Taxes, remuneration and social security | 45 | €24,432 | €5,103 | -€19,329 | -79.1% |
| Taxes | 450/3 | €24,432 | €5,103 | -€19,329 | -79.1% |
| Other amounts payable | 47/48 | €1,718 | €1,666 | -€52 | -3.0% |
| Accrued charges and deferred income | 492/3 | - | €4,000 | +€4,000 | |
| Non-recurring operating income | 76A | - | €1,810 | +€1,810 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,278 | €12,798 | +€520 | +4.2% |
| Other operating charges | 640/8 | €12,426 | €14,554 | +€2,128 | +17.1% |
| Gross operating margin | 9900 | €47,785 | €65,274 | +€17,489 | +36.6% |
| Operating profit (loss) | 9901 | €23,081 | €37,922 | +€14,841 | +64.3% |
| Financial income | 75/76B | €6,406 | €5,634 | -€772 | -12.1% |
| Recurring financial income | 75 | €6,406 | €5,634 | -€772 | -12.1% |
| Financial charges | 65/66B | €2,650 | €3,237 | +€586 | +22.1% |
| Recurring financial charges | 65 | €2,650 | €3,237 | +€586 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €26,837 | €40,319 | +€13,482 | +50.2% |
| Income taxes | 67/77 | €9,457 | €12,977 | +€3,520 | +37.2% |
| Profit (loss) for the period | 9904 | €17,380 | €27,342 | +€9,962 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €17,380 | €27,342 | +€9,962 | +57.3% |
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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 5 November 2026 via checked.be.