HENART: 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.
HENART
Largest movements
- Receivables within one year -€11,105
down €11,105 (-24.4%), from €45,528 to €34,423
of which Trade receivables: -€14,410
- Current investments +€10,000
new in 2025: €10,000
- Tangible fixed assets -€7,352
down €7,352 (-42.7%), from €17,214 to €9,862
of which Furniture and vehicles: -€6,413
- Cash +€3,408
up €3,408 (+16.8%), from €20,228 to €23,636
mainly Net result for the year (+€20,740) and Receivables within one year (+€11,105)
- Deferred charges and accrued income -€1,993
no longer reported in 2025 (was €1,993)
- Trade debts -€7,680
down €7,680 (-56.9%), from €13,503 to €5,823
- Tax, wage and social debts +€2,126
up €2,126 (+17.1%), from €12,465 to €14,590
- Other debts -€1,028
down €1,028 (-65.1%), from €1,578 to €551
- Depreciation -€14,716
down €14,716 (-86.2%), from €17,070 to €2,353
- Taxes +€7,621
up €7,621 (+1948.2%), from €391 to €8,012
- Gross operating margin -€6,055
down €6,055 (-15.9%), from €38,198 to €32,143
- Other operating charges -€660
down €660 (-74.4%), from €887 to €227
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 | €84,964 | €77,921 | -€7,043 | -8.3% |
| Fixed assets | 21/28 | €17,214 | €9,862 | -€7,352 | -42.7% |
| Tangible fixed assets | 22/27 | €17,214 | €9,862 | -€7,352 | -42.7% |
| Plant, machinery and equipment | 23 | €1,341 | €951 | -€390 | -29.1% |
| Furniture and vehicles | 24 | €13,999 | €7,587 | -€6,413 | -45.8% |
| Other tangible fixed assets | 26 | €1,874 | €1,325 | -€549 | -29.3% |
| Current assets | 29/58 | €67,749 | €68,059 | +€309 | +0.5% |
| Amounts receivable within one year | 40/41 | €45,528 | €34,423 | -€11,105 | -24.4% |
| Trade receivables | 40 | €36,017 | €21,606 | -€14,410 | -40.0% |
| Other amounts receivable | 41 | €9,512 | €12,817 | +€3,305 | +34.7% |
| Current investments | 50/53 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €20,228 | €23,636 | +€3,408 | +16.8% |
| Deferred charges and accrued income | 490/1 | €1,993 | - | -€1,993 | |
| Total equity and liabilities | 10/49 | €84,964 | €77,921 | -€7,043 | -8.3% |
| Equity | 10/15 | €57,418 | €56,957 | -€460 | -0.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €45,018 | €44,557 | -€460 | -1.0% |
| Distributable reserves | 133 | €45,018 | €44,557 | -€460 | -1.0% |
| Amounts payable | 17/49 | €27,546 | €20,964 | -€6,582 | -23.9% |
| Amounts payable within one year | 42/48 | €27,546 | €20,964 | -€6,582 | -23.9% |
| Trade debts | 44 | €13,503 | €5,823 | -€7,680 | -56.9% |
| Suppliers | 440/4 | €13,503 | €5,823 | -€7,680 | -56.9% |
| Taxes, remuneration and social security | 45 | €12,465 | €14,590 | +€2,126 | +17.1% |
| Taxes | 450/3 | €12,465 | €14,590 | +€2,126 | +17.1% |
| Other amounts payable | 47/48 | €1,578 | €551 | -€1,028 | -65.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,070 | €2,353 | -€14,716 | -86.2% |
| Other operating charges | 640/8 | €887 | €227 | -€660 | -74.4% |
| Non-recurring operating charges | 66A | - | €368 | +€368 | |
| Gross operating margin | 9900 | €38,198 | €32,143 | -€6,055 | -15.9% |
| Operating profit (loss) | 9901 | €20,242 | €29,194 | +€8,953 | +44.2% |
| Financial income | 75/76B | - | €47 | +€47 | |
| Recurring financial income | 75 | - | €47 | +€47 | |
| Financial charges | 65/66B | €297 | €489 | +€192 | +64.6% |
| Recurring financial charges | 65 | €297 | €489 | +€192 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €19,945 | €28,752 | +€8,807 | +44.2% |
| Income taxes | 67/77 | €391 | €8,012 | +€7,621 | +1948.2% |
| Profit (loss) for the period | 9904 | €19,553 | €20,740 | +€1,186 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,553 | €20,740 | +€1,186 | +6.1% |
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 10 October 2026 via checked.be.