HENDRICKX: what changed
Two fiscal 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.
HENDRICKX
Largest movements
- Current investments +€21,041
up €21,041 (+299.8%), from €7,018 to €28,058
- Receivables within one year +€4,521
up €4,521 (+22.5%), from €20,099 to €24,620
of which Other amounts receivable: +€2,405
- Reserves +€24,697
up €24,697 (+255.8%), from €9,656 to €34,352
- Trade debts -€1,769
down €1,769 (-83.1%), from €2,129 to €360
- Tax, wage and social debts +€1,670
up €1,670 (+359.3%), from €465 to €2,135
- Gross operating margin +€16,653
up €16,653 (+159.7%), from €10,429 to €27,082
- Taxes +€1,991
up €1,991 (+415.6%), from €479 to €2,470
- Other operating charges -€759
down €759 (-58.9%), from €1,290 to €531
- Depreciation -€547
down €547 (-53.5%), from €1,022 to €475
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 | €32,250 | €56,848 | +€24,598 | +76.3% |
| Fixed assets | 21/28 | €810 | €335 | -€475 | -58.6% |
| Tangible fixed assets | 22/27 | €735 | €260 | -€475 | -64.6% |
| Plant, machinery and equipment | 23 | €735 | €260 | -€475 | -64.6% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €31,440 | €56,512 | +€25,072 | +79.7% |
| Amounts receivable within one year | 40/41 | €20,099 | €24,620 | +€4,521 | +22.5% |
| Trade receivables | 40 | €1,750 | €3,865 | +€2,115 | +120.9% |
| Other amounts receivable | 41 | €18,349 | €20,755 | +€2,405 | +13.1% |
| Current investments | 50/53 | €7,018 | €28,058 | +€21,041 | +299.8% |
| Cash at bank and in hand | 54/58 | €3,555 | €3,551 | -€4 | -0.1% |
| Deferred charges and accrued income | 490/1 | €768 | €283 | -€484 | -63.1% |
| Total equity and liabilities | 10/49 | €32,250 | €56,848 | +€24,598 | +76.3% |
| Equity | 10/15 | €29,656 | €54,352 | +€24,697 | +83.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €9,656 | €34,352 | +€24,697 | +255.8% |
| Distributable reserves | 133 | €9,656 | €34,352 | +€24,697 | +255.8% |
| Amounts payable | 17/49 | €2,594 | €2,495 | -€99 | -3.8% |
| Amounts payable within one year | 42/48 | €2,594 | €2,495 | -€99 | -3.8% |
| Trade debts | 44 | €2,129 | €360 | -€1,769 | -83.1% |
| Suppliers | 440/4 | €2,129 | €360 | -€1,769 | -83.1% |
| Taxes, remuneration and social security | 45 | €465 | €2,135 | +€1,670 | +359.3% |
| Taxes | 450/3 | €465 | €2,135 | +€1,670 | +359.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,022 | €475 | -€547 | -53.5% |
| Other operating charges | 640/8 | €1,290 | €531 | -€759 | -58.9% |
| Gross operating margin | 9900 | €10,429 | €27,082 | +€16,653 | +159.7% |
| Operating profit (loss) | 9901 | €8,118 | €26,077 | +€17,959 | +221.2% |
| Financial income | 75/76B | €1,065 | €1,174 | +€109 | +10.2% |
| Recurring financial income | 75 | €1,065 | €1,174 | +€109 | +10.2% |
| Financial charges | 65/66B | €72 | €84 | +€12 | +16.1% |
| Recurring financial charges | 65 | €72 | €84 | +€12 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €9,110 | €27,166 | +€18,057 | +198.2% |
| Income taxes | 67/77 | €479 | €2,470 | +€1,991 | +415.6% |
| Profit (loss) for the period | 9904 | €8,631 | €24,697 | +€16,066 | +186.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,631 | €24,697 | +€16,066 | +186.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.