HENDEX: 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.
HENDEX
Largest movements
- Stocks and contracts +€18,482
up €18,482 (+45.0%), from €41,068 to €59,550
- Cash +€3,986
up €3,986 (+23.9%), from €16,703 to €20,689
mainly Trade debts (+€13,663) and Tax, wage and social debts (+€9,539)
- Trade debts +€13,663
up €13,663 (+6,210%), from €220 to €13,883
- Tax, wage and social debts +€9,539
up €9,539 (+170%), from €5,624 to €15,163
of which Remuneration and social security: +€10,000
- Other debts +€1,900
up €1,900 (+4.9%), from €38,774 to €40,674
- Profit (loss) carried forward -€1,389
down €1,389 (-27.1%), from €5,131 to €3,742
- Gross operating margin -€57,423
down €57,423 (-98.0%), from €58,606 to €1,183
- Staff costs -€41,526
no longer reported in 2025 (was €41,526)
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 | €67,036 | €90,750 | +€23,714 | +35.4% |
| Current assets | 29/58 | €67,036 | €90,750 | +€23,714 | +35.4% |
| Stocks and contracts in progress | 3 | €41,068 | €59,550 | +€18,482 | +45.0% |
| Stocks | 30/36 | €41,068 | €59,550 | +€18,482 | +45.0% |
| Amounts receivable within one year | 40/41 | €9,265 | €9,678 | +€413 | +4.5% |
| Other amounts receivable | 41 | €9,265 | €9,678 | +€413 | +4.5% |
| Cash at bank and in hand | 54/58 | €16,703 | €20,689 | +€3,986 | +23.9% |
| Deferred charges and accrued income | 490/1 | - | €833 | +€833 | |
| Total equity and liabilities | 10/49 | €67,036 | €90,750 | +€23,714 | +35.4% |
| Equity | 10/15 | €22,419 | €21,030 | -€1,389 | -6.2% |
| Contributions | 10/11 | €17,125 | €17,125 | = | 0.0% |
| Contributions outside capital | 11 | €17,125 | €17,125 | = | 0.0% |
| Other | 1109/19 | €17,125 | €17,125 | = | 0.0% |
| Reserves | 13 | €163 | €163 | +€0 | +0.2% |
| Non-distributable reserves | 130/1 | €163 | €163 | +€0 | +0.2% |
| Reserves not available under the articles | 1311 | €163 | €163 | +€0 | +0.2% |
| Profit (loss) carried forward | 14 | €5,131 | €3,742 | -€1,389 | -27.1% |
| Amounts payable | 17/49 | €44,617 | €69,720 | +€25,103 | +56.3% |
| Amounts payable within one year | 42/48 | €44,617 | €69,720 | +€25,103 | +56.3% |
| Trade debts | 44 | €220 | €13,883 | +€13,663 | +6,210% |
| Suppliers | 440/4 | €220 | €13,883 | +€13,663 | +6,210% |
| Taxes, remuneration and social security | 45 | €5,624 | €15,163 | +€9,539 | +170% |
| Taxes | 450/3 | €954 | €493 | -€461 | -48.3% |
| Remuneration and social security | 454/9 | €4,670 | €14,670 | +€10,000 | +214% |
| Other amounts payable | 47/48 | €38,774 | €40,674 | +€1,900 | +4.9% |
| Remuneration, social security and pensions | 62 | €41,526 | - | -€41,526 | |
| Other operating charges | 640/8 | €2,843 | €2,451 | -€392 | -13.8% |
| Gross operating margin | 9900 | €58,606 | €1,183 | -€57,423 | -98.0% |
| Operating profit (loss) | 9901 | €14,237 | -€1,268 | -€15,505 | |
| Financial income | 75/76B | - | €171 | +€171 | |
| Recurring financial income | 75 | - | €81 | +€81 | |
| Non-recurring financial income | 76B | - | €90 | +€90 | |
| Financial charges | 65/66B | €228 | €292 | +€64 | +27.9% |
| Recurring financial charges | 65 | €228 | €292 | +€64 | +27.9% |
| Profit (loss) for the period before taxes | 9903 | €14,008 | -€1,389 | -€15,397 | |
| Profit (loss) for the period | 9904 | €14,008 | -€1,389 | -€15,397 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,008 | -€1,389 | -€15,397 |
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.