HANDRI: 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.
What changed
HANDRI
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€360,516
2024 · €199,709+€160,807
Equity
€2.8m
2024 · €2.5m+€360,516
Cash
€41,165
2024 · €42,809-€1,644
Balance sheet total
€3.2m
2024 · €3.3m-€72,168
Largest movements
Assets
- Tangible fixed assets -€56,360
down €56,360 (-3.5%), from €1.6m to €1.6m
of which Land and buildings: -€49,422
Equity and liabilities
- Reserves +€360,516
up €360,516 (+26.8%), from €1.3m to €1.7m
of which Distributable reserves: +€360,516
- Other debts -€169,242
down €169,242 (-36.4%), from €464,588 to €295,346
- Debts after one year -€140,406
no longer reported in 2025 (was €140,406)
- Current portion of long-term debt -€99,043
no longer reported in 2025 (was €99,043)
Income statement
- Financial income +€200,095
up €200,095 (+17707551.3%), from €1 to €200,096
- Taxes +€40,430
up €40,430 (+44.2%), from €91,469 to €131,899
- Depreciation -€31,693
down €31,693 (-30.5%), from €103,824 to €72,131
- Gross operating margin -€31,079
down €31,079 (-6.7%), from €460,851 to €429,772
- Other operating charges +€6,554
up €6,554 (+28.7%), from €22,844 to €29,398
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.
Result 2024
€199,709
Gross operating margin
-€31,079
Staff costs
+€1,790
Depreciation
+€31,693
Other operating charges
-€6,554
Financial income
+€200,095
Financial charges
+€5,292
Taxes
-€40,430
Result 2025
€360,516
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.
From operations
+€264,704
Investment
-€15,761
Financing
-€250,587
Cash 2024
€42,809
From operations (derived)
+€264,704
Net result for the year
+€360,516
Depreciation
+€72,131
Stocks and contracts
-€2,148
Receivables within one year
+€17,433
Deferred charges and accrued income
-€1,131
Trade debts
-€18,978
Tax, wage and social debts
+€6,768
Other debts
-€169,242
Accrued charges and deferred income
-€645
Investment (derived)
-€15,761
Investment in fixed assets (net)
-€15,761
Financing
-€250,587
Debts after one year
-€140,406
Current portion of long-term debt
-€99,043
Short-term financial debts
-€11,138
Cash 2025
€41,165
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,252,033 | €3,179,865 | -€72,168 | -2.2% |
| Fixed assets | 21/28 | €2,933,433 | €2,877,062 | -€56,370 | -1.9% |
| Tangible fixed assets | 22/27 | €1,612,494 | €1,556,134 | -€56,360 | -3.5% |
| Land and buildings | 22 | €1,588,444 | €1,539,022 | -€49,422 | -3.1% |
| Plant, machinery and equipment | 23 | €9,390 | €11,075 | +€1,685 | +17.9% |
| Furniture and vehicles | 24 | €14,660 | €6,037 | -€8,623 | -58.8% |
| Financial fixed assets | 28 | €1,320,939 | €1,320,929 | -€10 | 0.0% |
| Current assets | 29/58 | €318,601 | €302,803 | -€15,798 | -5.0% |
| Amounts receivable after more than one year | 29 | €39,000 | €39,000 | = | 0.0% |
| Other amounts receivable | 291 | €39,000 | €39,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €8,545 | €10,693 | +€2,148 | +25.1% |
| Stocks | 30/36 | €8,545 | €10,693 | +€2,148 | +25.1% |
| Amounts receivable within one year | 40/41 | €222,243 | €204,810 | -€17,433 | -7.8% |
| Trade receivables | 40 | €222,204 | €140,625 | -€81,579 | -36.7% |
| Other amounts receivable | 41 | €39 | €64,185 | +€64,147 | +165967.9% |
| Cash at bank and in hand | 54/58 | €42,809 | €41,165 | -€1,644 | -3.8% |
| Deferred charges and accrued income | 490/1 | €6,003 | €7,134 | +€1,131 | +18.8% |
| Total equity and liabilities | 10/49 | €3,252,033 | €3,179,865 | -€72,168 | -2.2% |
| Equity | 10/15 | €2,450,355 | €2,810,872 | +€360,516 | +14.7% |
| Contributions | 10/11 | €1,105,606 | €1,105,606 | = | 0.0% |
| Reserves | 13 | €1,344,749 | €1,705,265 | +€360,516 | +26.8% |
| Non-distributable reserves | 130/1 | €72 | €72 | = | 0.0% |
| Reserves not available under the articles | 1311 | €72 | €72 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,011 | €24,011 | = | 0.0% |
| Distributable reserves | 133 | €1,320,665 | €1,681,182 | +€360,516 | +27.3% |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €796,678 | €363,994 | -€432,684 | -54.3% |
| Amounts payable after more than one year | 17 | €140,406 | - | -€140,406 | |
| Financial debts | 170/4 | €140,406 | - | -€140,406 | |
| Amounts payable within one year | 42/48 | €633,576 | €341,943 | -€291,633 | -46.0% |
| Current portion of amounts payable after more than one year | 42 | €99,043 | - | -€99,043 | |
| Financial debts | 43 | €13,622 | €2,483 | -€11,138 | -81.8% |
| Credit institutions | 430/8 | €13,622 | €2,483 | -€11,138 | -81.8% |
| Trade debts | 44 | €25,153 | €6,175 | -€18,978 | -75.5% |
| Suppliers | 440/4 | €25,153 | €6,175 | -€18,978 | -75.5% |
| Taxes, remuneration and social security | 45 | €31,171 | €37,938 | +€6,768 | +21.7% |
| Taxes | 450/3 | €26,614 | €31,706 | +€5,093 | +19.1% |
| Remuneration and social security | 454/9 | €4,557 | €6,232 | +€1,675 | +36.8% |
| Other amounts payable | 47/48 | €464,588 | €295,346 | -€169,242 | -36.4% |
| Accrued charges and deferred income | 492/3 | €22,696 | €22,051 | -€645 | -2.8% |
| Non-recurring operating income | 76A | €35,374 | - | -€35,374 | |
| Remuneration, social security and pensions | 62 | €25,028 | €23,238 | -€1,790 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,824 | €72,131 | -€31,693 | -30.5% |
| Other operating charges | 640/8 | €22,844 | €29,398 | +€6,554 | +28.7% |
| Gross operating margin | 9900 | €460,851 | €429,772 | -€31,079 | -6.7% |
| Operating profit (loss) | 9901 | €309,156 | €305,005 | -€4,150 | -1.3% |
| Financial income | 75/76B | €1 | €200,096 | +€200,095 | +17707551.3% |
| Recurring financial income | 75 | €1 | €200,096 | +€200,095 | +17707551.3% |
| Financial charges | 65/66B | €17,979 | €12,686 | -€5,292 | -29.4% |
| Recurring financial charges | 65 | €17,979 | €12,686 | -€5,292 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €291,178 | €492,415 | +€201,237 | +69.1% |
| Income taxes | 67/77 | €91,469 | €131,899 | +€40,430 | +44.2% |
| Profit (loss) for the period | 9904 | €199,709 | €360,516 | +€160,807 | +80.5% |
| Profit (loss) for the period to be appropriated | 9905 | €199,709 | €360,516 | +€160,807 | +80.5% |
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 11 October 2026 via checked.be.