HEN-MEGA-FORM: what changed
Two fiscal 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.
HEN-MEGA-FORM
Largest movements
- Receivables within one year -€11,958
down €11,958 (-27.3%), from €43,834 to €31,876
of which Trade receivables: -€8,725
- Financial fixed assets +€9,620
up €9,620 (+22.1%), from €43,529 to €53,149
- Tangible fixed assets -€7,181
down €7,181 (-52.2%), from €13,768 to €6,587
- Cash +€3,013
up €3,013 (+122.2%), from €2,465 to €5,478
mainly Receivables within one year (+€11,958) and Net result for the year (+€10,250)
- Profit (loss) carried forward +€10,250
up €10,250 (+16.1%), from €63,633 to €73,883
- Tax, wage and social debts -€9,184
down €9,184 (-98.5%), from €9,321 to €137
- Trade debts -€7,260
no longer reported in 2025 (was €7,260)
- Gross operating margin +€5,467
up €5,467 (+37.2%), from €14,710 to €20,177
- Taxes -€1,123
down €1,123 (-22.0%), from €5,106 to €3,983
- Financial income -€787
down €787 (-30.9%), from €2,544 to €1,757
- Financial charges -€211
down €211 (-41.3%), from €511 to €300
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €103,938 | €97,680 | -€6,258 | -6.0% |
| Fixed assets | 21/28 | €57,297 | €59,736 | +€2,439 | +4.3% |
| Tangible fixed assets | 22/27 | €13,768 | €6,587 | -€7,181 | -52.2% |
| Furniture and vehicles | 24 | €13,768 | €6,587 | -€7,181 | -52.2% |
| Financial fixed assets | 28 | €43,529 | €53,149 | +€9,620 | +22.1% |
| Current assets | 29/58 | €46,641 | €37,944 | -€8,697 | -18.6% |
| Amounts receivable within one year | 40/41 | €43,834 | €31,876 | -€11,958 | -27.3% |
| Trade receivables | 40 | €8,975 | €250 | -€8,725 | -97.2% |
| Other amounts receivable | 41 | €34,859 | €31,626 | -€3,233 | -9.3% |
| Cash at bank and in hand | 54/58 | €2,465 | €5,478 | +€3,013 | +122.2% |
| Deferred charges and accrued income | 490/1 | €342 | €590 | +€248 | +72.5% |
| Total equity and liabilities | 10/49 | €103,938 | €97,680 | -€6,258 | -6.0% |
| Equity | 10/15 | €87,293 | €97,543 | +€10,250 | +11.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €17,460 | €17,460 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,600 | €15,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,633 | €73,883 | +€10,250 | +16.1% |
| Amounts payable | 17/49 | €16,645 | €137 | -€16,508 | -99.2% |
| Amounts payable within one year | 42/48 | €16,581 | €137 | -€16,444 | -99.2% |
| Trade debts | 44 | €7,260 | - | -€7,260 | |
| Suppliers | 440/4 | €7,260 | - | -€7,260 | |
| Taxes, remuneration and social security | 45 | €9,321 | €137 | -€9,184 | -98.5% |
| Taxes | 450/3 | €9,321 | €137 | -€9,184 | -98.5% |
| Accrued charges and deferred income | 492/3 | €64 | - | -€64 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,182 | €7,182 | = | 0.0% |
| Other operating charges | 640/8 | €98 | €219 | +€121 | +123.5% |
| Gross operating margin | 9900 | €14,710 | €20,177 | +€5,467 | +37.2% |
| Operating profit (loss) | 9901 | €7,430 | €12,776 | +€5,346 | +72.0% |
| Financial income | 75/76B | €2,544 | €1,757 | -€787 | -30.9% |
| Recurring financial income | 75 | €2,544 | €1,757 | -€787 | -30.9% |
| Financial charges | 65/66B | €511 | €300 | -€211 | -41.3% |
| Recurring financial charges | 65 | €511 | €300 | -€211 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | €9,463 | €14,233 | +€4,770 | +50.4% |
| Income taxes | 67/77 | €5,106 | €3,983 | -€1,123 | -22.0% |
| Profit (loss) for the period | 9904 | €4,357 | €10,250 | +€5,893 | +135.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,357 | €10,250 | +€5,893 | +135.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.