HENCHAPAU: 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.
HENCHAPAU
Largest movements
- Tangible fixed assets +€147,172
up €147,172 (+59.9%), from €245,762 to €392,934
of which Land and buildings: +€116,111
- Cash -€43,394
down €43,394 (-47.2%), from €91,884 to €48,490
mainly Investment in fixed assets (net) (-€166,556) and Receivables within one year (-€22,931)
- Receivables within one year +€22,931
up €22,931 (+56.5%), from €40,576 to €63,507
of which Trade receivables: +€22,142
- Debts after one year +€54,828
up €54,828 (+21.7%), from €253,000 to €307,828
- Profit (loss) carried forward +€36,788
up €36,788 (+42.6%), from €86,405 to €123,193
- Current portion of long-term debt +€26,358
new in 2025: €26,358
- Tax, wage and social debts +€8,282
up €8,282 (+24.7%), from €33,531 to €41,813
of which Taxes: +€8,282
- Gross operating margin +€34,547
up €34,547 (+80.5%), from €42,936 to €77,483
- Depreciation +€17,915
up €17,915 (+1,219%), from €1,470 to €19,385
- Financial charges +€10,272
up €10,272 (+844%), from €1,217 to €11,488
- Other operating charges +€2,178
up €2,178 (+208%), from €1,048 to €3,226
- Taxes -€1,570
down €1,570 (-19.1%), from €8,208 to €6,639
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.
Derived cash bridge
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 | €378,222 | €507,050 | +€128,828 | +34.1% |
| Fixed assets | 21/28 | €245,762 | €392,934 | +€147,172 | +59.9% |
| Tangible fixed assets | 22/27 | €245,762 | €392,934 | +€147,172 | +59.9% |
| Land and buildings | 22 | €244,809 | €360,920 | +€116,111 | +47.4% |
| Furniture and vehicles | 24 | €953 | €32,014 | +€31,061 | +3,258% |
| Current assets | 29/58 | €132,460 | €114,116 | -€18,344 | -13.8% |
| Amounts receivable within one year | 40/41 | €40,576 | €63,507 | +€22,931 | +56.5% |
| Trade receivables | 40 | €39,812 | €61,954 | +€22,142 | +55.6% |
| Other amounts receivable | 41 | €764 | €1,553 | +€789 | +103% |
| Cash at bank and in hand | 54/58 | €91,884 | €48,490 | -€43,394 | -47.2% |
| Deferred charges and accrued income | 490/1 | - | €2,119 | +€2,119 | |
| Total equity and liabilities | 10/49 | €378,222 | €507,050 | +€128,828 | +34.1% |
| Equity | 10/15 | €86,505 | €123,293 | +€36,788 | +42.5% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,405 | €123,193 | +€36,788 | +42.6% |
| Amounts payable | 17/49 | €291,717 | €383,757 | +€92,040 | +31.6% |
| Amounts payable after more than one year | 17 | €253,000 | €307,828 | +€54,828 | +21.7% |
| Financial debts | 170/4 | €253,000 | €307,828 | +€54,828 | +21.7% |
| Amounts payable within one year | 42/48 | €37,887 | €75,095 | +€37,209 | +98.2% |
| Current portion of amounts payable after more than one year | 42 | - | €26,358 | +€26,358 | |
| Trade debts | 44 | €574 | €5,369 | +€4,795 | +836% |
| Suppliers | 440/4 | €574 | €5,369 | +€4,795 | +836% |
| Taxes, remuneration and social security | 45 | €33,531 | €41,813 | +€8,282 | +24.7% |
| Taxes | 450/3 | €32,031 | €40,313 | +€8,282 | +25.9% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €3,782 | €1,555 | -€2,226 | -58.9% |
| Accrued charges and deferred income | 492/3 | €830 | €833 | +€3 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,470 | €19,385 | +€17,915 | +1,219% |
| Other operating charges | 640/8 | €1,048 | €3,226 | +€2,178 | +208% |
| Gross operating margin | 9900 | €42,936 | €77,483 | +€34,547 | +80.5% |
| Operating profit (loss) | 9901 | €40,418 | €54,873 | +€14,454 | +35.8% |
| Financial income | 75/76B | €30 | €42 | +€12 | +39.5% |
| Recurring financial income | 75 | €30 | €42 | +€12 | +39.5% |
| Financial charges | 65/66B | €1,217 | €11,488 | +€10,272 | +844% |
| Recurring financial charges | 65 | €1,217 | €11,488 | +€10,272 | +844% |
| Profit (loss) for the period before taxes | 9903 | €39,232 | €43,427 | +€4,195 | +10.7% |
| Income taxes | 67/77 | €8,208 | €6,639 | -€1,570 | -19.1% |
| Profit (loss) for the period | 9904 | €31,024 | €36,788 | +€5,764 | +18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,024 | €36,788 | +€5,764 | +18.6% |
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 20 October 2026 via checked.be.