Henchman: 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
Henchman
NACE 62.200, Computer consultancy and computer facilities management
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€93.9m
2024 · -€4.7m+€98.6m
Equity
€33.6m
2024 · -€327,392+€33.9m
Cash
€2,637
2024 · €124,407-€121,770
Balance sheet total
€93.7m
2024 · €3.7m+€90.0m
Largest movements
Assets
- Receivables within one year +€92.3m
up €92.3m (+7,311%), from €1.3m to €93.6m
of which Other amounts receivable: +€93.2m
- Intangible fixed assets -€2.1m
down €2.1m (-100%), from €2.1m to €0
Equity and liabilities
- Other debts +€58.5m
up €58.5m (+3,834%), from €1.5m to €60.0m
- Profit (loss) carried forward +€33.9m
up €33.9m, from -€9.3m to €24.6m
- Accrued charges and deferred income -€1.7m
down €1.7m (-99.1%), from €1.7m to €15,995
Income statement
- Gross operating margin +€120.3m
up €120.3m, from -€1.2m to €119.1m
- Taxes +€28.1m
up €28.1m (+972,777%), from €2,887 to €28.1m
- Financial income +€3.0m
up €3.0m (+9,470%), from €31,322 to €3.0m
- Staff costs -€2.6m
down €2.6m (-99.5%), from €2.7m to €13,498
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
-€4.7m
Gross operating margin
+€120.3m
Staff costs
+€2.6m
Depreciation
+€752,163
Write-downs
-€5,000
Other operating charges
+€28,048
Other operating items
-€3,195
Financial income
+€3.0m
Financial charges
+€7,397
Taxes
-€28.1m
Result 2025
€93.9m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€57.8m
Investment
+€2.1m
Financing
-€60.0m
Cash 2024
€124,407
From operations (derived)
+€57.8m
Net result for the year
+€93.9m
Depreciation
+€50,736
Receivables within one year
-€92.3m
Deferred charges and accrued income
+€67,063
Trade debts
-€485,538
Tax, wage and social debts
-€237,937
Other debts
+€58.5m
Accrued charges and deferred income
-€1.7m
Investment (derived)
+€2.1m
Investment in fixed assets (net)
+€2.1m
Financing
-€60.0m
Short-term financial debts
-€19,051
Contributions, distributions and other
-€60.0m
Cash 2025
€2,637
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,698,850 | €93,671,802 | +€90.0m | +2,432% |
| Fixed assets | 21/28 | €2,240,250 | €89,596 | -€2.2m | -96.0% |
| Intangible fixed assets | 21 | €2,109,112 | €0 | -€2.1m | -100% |
| Tangible fixed assets | 22/27 | €128,363 | €89,396 | -€38,966 | -30.4% |
| Plant, machinery and equipment | 23 | €1,929 | €1,367 | -€562 | -29.1% |
| Furniture and vehicles | 24 | €106,194 | €69,695 | -€36,499 | -34.4% |
| Other tangible fixed assets | 26 | €20,240 | €18,334 | -€1,906 | -9.4% |
| Financial fixed assets | 28 | €2,775 | €200 | -€2,575 | -92.8% |
| Current assets | 29/58 | €1,458,600 | €93,582,205 | +€92.1m | +6,316% |
| Amounts receivable within one year | 40/41 | €1,262,661 | €93,575,099 | +€92.3m | +7,311% |
| Trade receivables | 40 | €1,145,164 | €265,999 | -€879,165 | -76.8% |
| Other amounts receivable | 41 | €117,497 | €93,309,100 | +€93.2m | +79,314% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €124,407 | €2,637 | -€121,770 | -97.9% |
| Deferred charges and accrued income | 490/1 | €71,532 | €4,470 | -€67,063 | -93.8% |
| Total equity and liabilities | 10/49 | €3,698,850 | €93,671,802 | +€90.0m | +2,432% |
| Equity | 10/15 | -€327,392 | €33,618,067 | +€33.9m | |
| Contributions | 10/11 | €9,019,815 | €9,019,815 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,347,207 | €24,598,252 | +€33.9m | |
| Amounts payable | 17/49 | €4,026,242 | €60,053,735 | +€56.0m | +1,392% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,305,422 | €60,037,740 | +€57.7m | +2,504% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €19,051 | €0 | -€19,051 | -100% |
| Credit institutions | 430/8 | €19,051 | €0 | -€19,051 | -100% |
| Trade debts | 44 | €523,278 | €37,740 | -€485,538 | -92.8% |
| Suppliers | 440/4 | €523,278 | €37,740 | -€485,538 | -92.8% |
| Taxes, remuneration and social security | 45 | €237,937 | €0 | -€237,937 | -100% |
| Taxes | 450/3 | €4,191 | €0 | -€4,191 | -100% |
| Remuneration and social security | 454/9 | €233,746 | €0 | -€233,746 | -100% |
| Other amounts payable | 47/48 | €1,525,156 | €60,000,000 | +€58.5m | +3,834% |
| Accrued charges and deferred income | 492/3 | €1,720,820 | €15,995 | -€1.7m | -99.1% |
| Non-recurring operating income | 76A | - | €118,245,139 | +€118.2m | |
| Remuneration, social security and pensions | 62 | €2,655,705 | €13,498 | -€2.6m | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €802,899 | €50,736 | -€752,163 | -93.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,000 | €0 | +€5,000 | |
| Other operating charges | 640/8 | €29,222 | €1,174 | -€28,048 | -96.0% |
| Non-recurring operating charges | 66A | - | €3,195 | +€3,195 | |
| Gross operating margin | 9900 | -€1,184,922 | €119,121,912 | +€120.3m | |
| Operating profit (loss) | 9901 | -€4,667,748 | €119,053,309 | +€123.7m | |
| Financial income | 75/76B | €31,322 | €2,997,411 | +€3.0m | +9,470% |
| Recurring financial income | 75 | €31,322 | €2,997,411 | +€3.0m | +9,470% |
| Financial charges | 65/66B | €24,933 | €17,536 | -€7,397 | -29.7% |
| Recurring financial charges | 65 | €24,933 | €17,536 | -€7,397 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,661,359 | €122,033,184 | +€126.7m | |
| Income taxes | 67/77 | €2,887 | €28,087,725 | +€28.1m | +972,777% |
| Profit (loss) for the period | 9904 | -€4,664,246 | €93,945,459 | +€98.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,664,246 | €93,945,459 | +€98.6m |
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 18 October 2026 via checked.be.