HENDRICKX: 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.
HENDRICKX
Largest movements
- Tangible fixed assets +€32,678
up €32,678 (+515%), from €6,340 to €39,018
of which Furniture and vehicles: +€34,278
- Receivables within one year +€20,369
up €20,369 (+144%), from €14,139 to €34,508
of which Trade receivables: +€25,244
- Cash +€4,498
up €4,498 (+12.1%), from €37,174 to €41,672
mainly Net result for the year (+€25,742) and Debts after one year (+€16,568)
- Stocks and contracts +€1,993
up €1,993 (+25.0%), from €7,964 to €9,957
- Deferred charges and accrued income -€1,558
down €1,558 (-75.2%), from €2,072 to €514
- Reserves +€23,240
up €23,240 (+111%), from €20,950 to €44,190
- Debts after one year +€16,568
new in 2025: €16,568
- Trade debts +€9,573
up €9,573 (+319%), from €2,998 to €12,571
- Current portion of long-term debt +€4,859
new in 2025: €4,859
- Tax, wage and social debts +€3,749
up €3,749 (+91.4%), from €4,103 to €7,852
of which Taxes: +€3,249
- Gross operating margin +€20,873
up €20,873 (+66.8%), from €31,270 to €52,142
- Depreciation +€13,753
up €13,753 (+682%), from €2,018 to €15,771
- Financial charges -€2,855
down €2,855 (-80.8%), from €3,533 to €678
of which Non-recurring financial charges: -€3,305
- Taxes +€2,562
up €2,562 (+42.0%), from €6,104 to €8,666
- Other operating charges +€759
up €759 (+118%), from €646 to €1,405
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 | €67,689 | €125,668 | +€57,980 | +85.7% |
| Fixed assets | 21/28 | €6,340 | €39,018 | +€32,678 | +515% |
| Tangible fixed assets | 22/27 | €6,340 | €39,018 | +€32,678 | +515% |
| Plant, machinery and equipment | 23 | €2,628 | €1,754 | -€874 | -33.3% |
| Furniture and vehicles | 24 | €2,089 | €36,367 | +€34,278 | +1,641% |
| Other tangible fixed assets | 26 | €1,623 | €896 | -€727 | -44.8% |
| Current assets | 29/58 | €61,349 | €86,651 | +€25,302 | +41.2% |
| Stocks and contracts in progress | 3 | €7,964 | €9,957 | +€1,993 | +25.0% |
| Stocks | 30/36 | €7,964 | €9,957 | +€1,993 | +25.0% |
| Amounts receivable within one year | 40/41 | €14,139 | €34,508 | +€20,369 | +144% |
| Trade receivables | 40 | €6,580 | €31,823 | +€25,244 | +384% |
| Other amounts receivable | 41 | €7,559 | €2,685 | -€4,874 | -64.5% |
| Cash at bank and in hand | 54/58 | €37,174 | €41,672 | +€4,498 | +12.1% |
| Deferred charges and accrued income | 490/1 | €2,072 | €514 | -€1,558 | -75.2% |
| Total equity and liabilities | 10/49 | €67,689 | €125,668 | +€57,980 | +85.7% |
| Equity | 10/15 | €27,153 | €50,395 | +€23,242 | +85.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €20,950 | €44,190 | +€23,240 | +111% |
| Distributable reserves | 133 | €20,950 | €44,190 | +€23,240 | +111% |
| Profit (loss) carried forward | 14 | €3 | €5 | +€2 | +96.9% |
| Amounts payable | 17/49 | €40,536 | €75,273 | +€34,737 | +85.7% |
| Amounts payable after more than one year | 17 | - | €16,568 | +€16,568 | |
| Financial debts | 170/4 | - | €16,568 | +€16,568 | |
| Amounts payable within one year | 42/48 | €40,536 | €58,706 | +€18,170 | +44.8% |
| Current portion of amounts payable after more than one year | 42 | - | €4,859 | +€4,859 | |
| Trade debts | 44 | €2,998 | €12,571 | +€9,573 | +319% |
| Suppliers | 440/4 | €2,998 | €12,571 | +€9,573 | +319% |
| Taxes, remuneration and social security | 45 | €4,103 | €7,852 | +€3,749 | +91.4% |
| Taxes | 450/3 | €4,103 | €7,352 | +€3,249 | +79.2% |
| Remuneration and social security | 454/9 | - | €500 | +€500 | |
| Other amounts payable | 47/48 | €33,436 | €33,424 | -€12 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,018 | €15,771 | +€13,753 | +682% |
| Other operating charges | 640/8 | €646 | €1,405 | +€759 | +118% |
| Gross operating margin | 9900 | €31,270 | €52,142 | +€20,873 | +66.8% |
| Operating profit (loss) | 9901 | €28,606 | €34,967 | +€6,361 | +22.2% |
| Financial income | 75/76B | €22 | €120 | +€98 | +442% |
| Recurring financial income | 75 | €22 | €120 | +€98 | +442% |
| Financial charges | 65/66B | €3,533 | €678 | -€2,855 | -80.8% |
| Recurring financial charges | 65 | €228 | €678 | +€450 | +197% |
| Non-recurring financial charges | 66B | €3,305 | - | -€3,305 | |
| Profit (loss) for the period before taxes | 9903 | €25,095 | €34,409 | +€9,314 | +37.1% |
| Income taxes | 67/77 | €6,104 | €8,666 | +€2,562 | +42.0% |
| Profit (loss) for the period | 9904 | €18,991 | €25,742 | +€6,752 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,991 | €25,742 | +€6,752 | +35.6% |
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 14 October 2026 via checked.be.