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
- Cash +€87,426
up €87,426 (+44.5%), from €196,288 to €283,713
mainly Other debts (+€158,734) and Net result for the year (+€75,584)
- Tangible fixed assets +€74,692
up €74,692 (+148.8%), from €50,189 to €124,881
of which Furniture and vehicles: +€81,245
- Stocks and contracts -€27,183
down €27,183 (-10.0%), from €271,127 to €243,944
- Other debts +€158,734
up €158,734 (+484.2%), from €32,785 to €191,518
- Reserves -€31,467
down €31,467 (-7.4%), from €422,467 to €391,000
of which Distributable reserves: -€31,467
- Trade debts +€16,535
up €16,535 (+142.5%), from €11,602 to €28,137
- Gross operating margin -€57,728
down €57,728 (-28.8%), from €200,549 to €142,821
- Taxes -€21,060
down €21,060 (-39.3%), from €53,579 to €32,519
- Depreciation +€13,561
up €13,561 (+58.5%), from €23,187 to €36,748
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 | €524,058 | €664,577 | +€140,519 | +26.8% |
| Fixed assets | 21/28 | €50,189 | €124,881 | +€74,692 | +148.8% |
| Tangible fixed assets | 22/27 | €50,189 | €124,881 | +€74,692 | +148.8% |
| Land and buildings | 22 | €19,541 | €19,804 | +€263 | +1.3% |
| Plant, machinery and equipment | 23 | €29,202 | €22,386 | -€6,816 | -23.3% |
| Furniture and vehicles | 24 | €1,446 | €82,691 | +€81,245 | +5619.7% |
| Current assets | 29/58 | €473,870 | €539,697 | +€65,827 | +13.9% |
| Stocks and contracts in progress | 3 | €271,127 | €243,944 | -€27,183 | -10.0% |
| Stocks | 30/36 | €271,127 | €243,944 | -€27,183 | -10.0% |
| Amounts receivable within one year | 40/41 | €6,455 | €12,039 | +€5,584 | +86.5% |
| Trade receivables | 40 | €1,932 | - | -€1,932 | |
| Other amounts receivable | 41 | €4,524 | €12,039 | +€7,516 | +166.1% |
| Cash at bank and in hand | 54/58 | €196,288 | €283,713 | +€87,426 | +44.5% |
| Total equity and liabilities | 10/49 | €524,058 | €664,577 | +€140,519 | +26.8% |
| Equity | 10/15 | €441,067 | €409,600 | -€31,467 | -7.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €422,467 | €391,000 | -€31,467 | -7.4% |
| Non-distributable reserves | 130/1 | €10,167 | €10,167 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,167 | €10,167 | = | 0.0% |
| Distributable reserves | 133 | €412,300 | €380,833 | -€31,467 | -7.6% |
| Amounts payable | 17/49 | €82,992 | €254,977 | +€171,986 | +207.2% |
| Amounts payable within one year | 42/48 | €82,992 | €254,977 | +€171,986 | +207.2% |
| Trade debts | 44 | €11,602 | €28,137 | +€16,535 | +142.5% |
| Suppliers | 440/4 | €11,602 | €28,137 | +€16,535 | +142.5% |
| Taxes, remuneration and social security | 45 | €38,605 | €35,322 | -€3,283 | -8.5% |
| Taxes | 450/3 | €38,605 | €35,322 | -€3,283 | -8.5% |
| Other amounts payable | 47/48 | €32,785 | €191,518 | +€158,734 | +484.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,187 | €36,748 | +€13,561 | +58.5% |
| Other operating charges | 640/8 | €377 | €140 | -€237 | -62.8% |
| Gross operating margin | 9900 | €200,549 | €142,821 | -€57,728 | -28.8% |
| Operating profit (loss) | 9901 | €176,985 | €105,933 | -€71,052 | -40.1% |
| Financial income | 75/76B | €2,681 | €2,340 | -€342 | -12.7% |
| Recurring financial income | 75 | €2,681 | €2,340 | -€342 | -12.7% |
| Financial charges | 65/66B | €64 | €170 | +€106 | +165.7% |
| Recurring financial charges | 65 | €64 | €170 | +€106 | +165.7% |
| Profit (loss) for the period before taxes | 9903 | €179,603 | €108,103 | -€71,500 | -39.8% |
| Income taxes | 67/77 | €53,579 | €32,519 | -€21,060 | -39.3% |
| Profit (loss) for the period | 9904 | €126,024 | €75,584 | -€50,440 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €126,024 | €75,584 | -€50,440 | -40.0% |
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.