Henas: 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.
Henas
Largest movements
- Receivables within one year -€47,637
down €47,637 (-41.8%), from €113,889 to €66,252
of which Trade receivables: -€51,830
- Cash -€33,977
down €33,977 (-60.3%), from €56,390 to €22,413
mainly Contributions, distributions and other (-€270,588) and Debts after one year (-€38,321)
- Tangible fixed assets -€15,924
down €15,924 (-1.9%), from €831,218 to €815,294
of which Other tangible fixed assets: -€20,617
- Profit (loss) carried forward -€191,659
down €191,659 (-57.5%), from €333,561 to €141,902
- Other debts +€147,482
up €147,482 (+424.4%), from €34,752 to €182,234
- Debts after one year -€38,321
down €38,321 (-7.2%), from €534,860 to €496,539
- Tax, wage and social debts -€15,304
down €15,304 (-65.6%), from €23,319 to €8,015
- Gross operating margin -€11,196
down €11,196 (-7.3%), from €152,593 to €141,397
- Taxes -€3,005
down €3,005 (-12.1%), from €24,743 to €21,737
- Depreciation +€2,435
up €2,435 (+11.5%), from €21,244 to €23,679
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 | €1,011,164 | €915,997 | -€95,167 | -9.4% |
| Fixed assets | 21/28 | €831,218 | €815,294 | -€15,924 | -1.9% |
| Tangible fixed assets | 22/27 | €831,218 | €815,294 | -€15,924 | -1.9% |
| Land and buildings | 22 | €191,352 | €191,352 | = | 0.0% |
| Furniture and vehicles | 24 | €14,014 | €18,706 | +€4,693 | +33.5% |
| Other tangible fixed assets | 26 | €625,853 | €605,236 | -€20,617 | -3.3% |
| Current assets | 29/58 | €179,946 | €100,703 | -€79,243 | -44.0% |
| Amounts receivable within one year | 40/41 | €113,889 | €66,252 | -€47,637 | -41.8% |
| Trade receivables | 40 | €109,482 | €57,652 | -€51,830 | -47.3% |
| Other amounts receivable | 41 | €4,407 | €8,600 | +€4,193 | +95.1% |
| Cash at bank and in hand | 54/58 | €56,390 | €22,413 | -€33,977 | -60.3% |
| Deferred charges and accrued income | 490/1 | €9,667 | €12,038 | +€2,371 | +24.5% |
| Total equity and liabilities | 10/49 | €1,011,164 | €915,997 | -€95,167 | -9.4% |
| Equity | 10/15 | €371,953 | €180,294 | -€191,659 | -51.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €19,842 | €19,842 | = | 0.0% |
| Distributable reserves | 133 | €19,842 | €19,842 | = | 0.0% |
| Profit (loss) carried forward | 14 | €333,561 | €141,902 | -€191,659 | -57.5% |
| Amounts payable | 17/49 | €639,211 | €735,703 | +€96,492 | +15.1% |
| Amounts payable after more than one year | 17 | €534,860 | €496,539 | -€38,321 | -7.2% |
| Financial debts | 170/4 | €534,860 | €496,539 | -€38,321 | -7.2% |
| Amounts payable within one year | 42/48 | €103,951 | €239,135 | +€135,184 | +130.0% |
| Current portion of amounts payable after more than one year | 42 | €37,536 | €38,321 | +€785 | +2.1% |
| Trade debts | 44 | €6,651 | €10,566 | +€3,915 | +58.9% |
| Suppliers | 440/4 | €6,651 | €10,566 | +€3,915 | +58.9% |
| Advances received on contracts in progress | 46 | €1,694 | - | -€1,694 | |
| Taxes, remuneration and social security | 45 | €23,319 | €8,015 | -€15,304 | -65.6% |
| Taxes | 450/3 | €23,319 | €8,015 | -€15,304 | -65.6% |
| Other amounts payable | 47/48 | €34,752 | €182,234 | +€147,482 | +424.4% |
| Accrued charges and deferred income | 492/3 | €401 | €29 | -€372 | -92.8% |
| Non-recurring operating income | 76A | - | €120 | +€120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,244 | €23,679 | +€2,435 | +11.5% |
| Other operating charges | 640/8 | €2,066 | €1,610 | -€456 | -22.1% |
| Non-recurring operating charges | 66A | - | €634 | +€634 | |
| Gross operating margin | 9900 | €152,593 | €141,397 | -€11,196 | -7.3% |
| Operating profit (loss) | 9901 | €129,283 | €115,474 | -€13,809 | -10.7% |
| Financial charges | 65/66B | €13,448 | €14,807 | +€1,359 | +10.1% |
| Recurring financial charges | 65 | €13,448 | €14,807 | +€1,359 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €115,835 | €100,666 | -€15,168 | -13.1% |
| Income taxes | 67/77 | €24,743 | €21,737 | -€3,005 | -12.1% |
| Profit (loss) for the period | 9904 | €91,092 | €78,929 | -€12,163 | -13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €91,092 | €78,929 | -€12,163 | -13.4% |
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.