HENDRICKX & PARTNERS: 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
HENDRICKX & PARTNERS
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€177,983
2024 · €226,632-€48,648
Equity
€2.2m
2024 · €2.1m+€67,983
Cash
€76,150
2024 · €68,697+€7,453
Balance sheet total
€2.4m
2024 · €2.3m+€80,789
Largest movements
Assets
- Tangible fixed assets +€56,256
new in 2025: €56,256
Equity and liabilities
- Profit (loss) carried forward +€67,983
up €67,983 (+6.1%), from €1.1m to €1.2m
- Accrued charges and deferred income +€40,000
new in 2025: €40,000
- Other debts -€30,000
down €30,000 (-21.4%), from €140,487 to €110,487
Income statement
- Gross operating margin -€36,848
down €36,848 (-15.0%), from €245,905 to €209,057
- Financial charges +€7,227
up €7,227 (+19,272%), from €38 to €7,265
- Taxes -€6,386
down €6,386 (-27.0%), from €23,638 to €17,252
- Depreciation +€6,251
new in 2025: €6,251
- Financial income -€4,849
down €4,849 (-76.3%), from €6,358 to €1,509
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
€226,632
Gross operating margin
-€36,848
Depreciation
-€6,251
Other operating charges
+€140
Financial income
-€4,849
Financial charges
-€7,227
Taxes
+€6,386
Result 2025
€177,983
raises the resultlowers the result
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
+€180,622
Investment
-€63,170
Financing
-€110,000
Cash 2024
€68,697
From operations (derived)
+€180,622
Net result for the year
+€177,983
Depreciation
+€6,251
Receivables within one year
-€16,300
Smaller working-capital items
-€402
Trade debts
+€3,090
Other debts
-€30,000
Accrued charges and deferred income
+€40,000
Investment (derived)
-€63,170
Investment in fixed assets (net)
-€62,507
Current investments
-€663
Financing
-€110,000
Contributions, distributions and other
-€110,000
Cash 2025
€76,150
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,282,396 | €2,363,185 | +€80,789 | +3.5% |
| Fixed assets | 21/28 | €1,968,858 | €2,025,114 | +€56,256 | +2.9% |
| Tangible fixed assets | 22/27 | - | €56,256 | +€56,256 | |
| Furniture and vehicles | 24 | - | €56,256 | +€56,256 | |
| Financial fixed assets | 28 | €1,968,858 | €1,968,858 | = | 0.0% |
| Current assets | 29/58 | €313,538 | €338,071 | +€24,533 | +7.8% |
| Amounts receivable within one year | 40/41 | €45,169 | €61,470 | +€16,300 | +36.1% |
| Other amounts receivable | 41 | €45,169 | €61,470 | +€16,300 | +36.1% |
| Current investments | 50/53 | €199,672 | €200,334 | +€663 | +0.3% |
| Cash at bank and in hand | 54/58 | €68,697 | €76,150 | +€7,453 | +10.8% |
| Deferred charges and accrued income | 490/1 | - | €117 | +€117 | |
| Total equity and liabilities | 10/49 | €2,282,396 | €2,363,185 | +€80,789 | +3.5% |
| Equity | 10/15 | €2,131,830 | €2,199,814 | +€67,983 | +3.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €20,000 | €20,000 | = | 0.0% |
| Uncalled capital | 101 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,002,000 | €1,002,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,119,830 | €1,187,814 | +€67,983 | +6.1% |
| Amounts payable | 17/49 | €150,566 | €163,371 | +€12,805 | +8.5% |
| Amounts payable within one year | 42/48 | €150,566 | €123,371 | -€27,195 | -18.1% |
| Trade debts | 44 | €3,054 | €6,144 | +€3,090 | +101% |
| Suppliers | 440/4 | €3,054 | €6,144 | +€3,090 | +101% |
| Taxes, remuneration and social security | 45 | €7,025 | €6,740 | -€285 | -4.1% |
| Taxes | 450/3 | €7,025 | €6,740 | -€285 | -4.1% |
| Other amounts payable | 47/48 | €140,487 | €110,487 | -€30,000 | -21.4% |
| Accrued charges and deferred income | 492/3 | - | €40,000 | +€40,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,251 | +€6,251 | |
| Other operating charges | 640/8 | €1,956 | €1,816 | -€140 | -7.1% |
| Gross operating margin | 9900 | €245,905 | €209,057 | -€36,848 | -15.0% |
| Operating profit (loss) | 9901 | €243,949 | €200,991 | -€42,958 | -17.6% |
| Financial income | 75/76B | €6,358 | €1,509 | -€4,849 | -76.3% |
| Recurring financial income | 75 | €6,358 | €1,509 | -€4,849 | -76.3% |
| Financial charges | 65/66B | €38 | €7,265 | +€7,227 | +19,272% |
| Recurring financial charges | 65 | €38 | €7,265 | +€7,227 | +19,272% |
| Profit (loss) for the period before taxes | 9903 | €250,270 | €195,236 | -€55,034 | -22.0% |
| Income taxes | 67/77 | €23,638 | €17,252 | -€6,386 | -27.0% |
| Profit (loss) for the period | 9904 | €226,632 | €177,983 | -€48,648 | -21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €226,632 | €177,983 | -€48,648 | -21.5% |
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 19 October 2026 via checked.be.