HENDRIGO: 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.
HENDRIGO
Largest movements
- Stocks and contracts +€154,466
up €154,466 (+19.8%), from €779,705 to €934,171
- Cash -€112,077
down €112,077 (-57.8%), from €193,940 to €81,862
mainly Investment in fixed assets (net) (-€184,523) and Debts after one year (-€155,633)
- Deferred charges and accrued income +€48,613
up €48,613 (+705.3%), from €6,893 to €55,506
- Receivables within one year -€32,485
down €32,485 (-13.5%), from €240,493 to €208,008
of which Other amounts receivable: -€29,942
- Reserves +€182,710
up €182,710 (+25.6%), from €714,439 to €897,149
of which Tax-exempt reserves: +€168,400
- Debts after one year -€155,633
down €155,633 (-22.2%), from €701,711 to €546,078
- Short-term financial debts +€115,000
new in 2025: €115,000
- Contributions -€49,670
down €49,670 (-26.4%), from €187,871 to €138,200
- Trade debts +€34,003
up €34,003 (+100.5%), from €33,824 to €67,827
- Gross operating margin -€210,283
down €210,283 (-30.4%), from €692,514 to €482,231
- Taxes -€79,447
down €79,447 (-55.1%), from €144,178 to €64,731
- Depreciation +€43,929
up €43,929 (+31.3%), from €140,513 to €184,443
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 | €2,117,225 | €2,187,822 | +€70,597 | +3.3% |
| Fixed assets | 21/28 | €851,457 | €851,538 | +€81 | 0.0% |
| Tangible fixed assets | 22/27 | €850,857 | €850,938 | +€81 | 0.0% |
| Land and buildings | 22 | €732,215 | €762,032 | +€29,817 | +4.1% |
| Plant, machinery and equipment | 23 | €104,199 | €67,799 | -€36,400 | -34.9% |
| Furniture and vehicles | 24 | €14,443 | €21,107 | +€6,664 | +46.1% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €1,265,768 | €1,336,284 | +€70,516 | +5.6% |
| Stocks and contracts in progress | 3 | €779,705 | €934,171 | +€154,466 | +19.8% |
| Stocks | 30/36 | €779,705 | €934,171 | +€154,466 | +19.8% |
| Amounts receivable within one year | 40/41 | €240,493 | €208,008 | -€32,485 | -13.5% |
| Trade receivables | 40 | €65,526 | €62,983 | -€2,543 | -3.9% |
| Other amounts receivable | 41 | €174,967 | €145,025 | -€29,942 | -17.1% |
| Current investments | 50/53 | €44,737 | €56,737 | +€12,000 | +26.8% |
| Cash at bank and in hand | 54/58 | €193,940 | €81,862 | -€112,077 | -57.8% |
| Deferred charges and accrued income | 490/1 | €6,893 | €55,506 | +€48,613 | +705.3% |
| Total equity and liabilities | 10/49 | €2,117,225 | €2,187,822 | +€70,597 | +3.3% |
| Equity | 10/15 | €1,102,778 | €1,213,543 | +€110,765 | +10.0% |
| Contributions | 10/11 | €187,871 | €138,200 | -€49,670 | -26.4% |
| Reserves | 13 | €714,439 | €897,149 | +€182,710 | +25.6% |
| Tax-exempt reserves | 132 | €159,980 | €328,380 | +€168,400 | +105.3% |
| Distributable reserves | 133 | €554,459 | €568,769 | +€14,310 | +2.6% |
| Investment grants | 15 | €200,468 | €178,194 | -€22,274 | -11.1% |
| Amounts payable | 17/49 | €1,014,447 | €974,279 | -€40,168 | -4.0% |
| Amounts payable after more than one year | 17 | €701,711 | €546,078 | -€155,633 | -22.2% |
| Financial debts | 170/4 | €701,711 | €546,078 | -€155,633 | -22.2% |
| Amounts payable within one year | 42/48 | €302,753 | €414,105 | +€111,353 | +36.8% |
| Current portion of amounts payable after more than one year | 42 | €171,223 | €155,633 | -€15,590 | -9.1% |
| Financial debts | 43 | - | €115,000 | +€115,000 | |
| Credit institutions | 430/8 | - | €115,000 | +€115,000 | |
| Trade debts | 44 | €33,824 | €67,827 | +€34,003 | +100.5% |
| Suppliers | 440/4 | €33,824 | €67,827 | +€34,003 | +100.5% |
| Taxes, remuneration and social security | 45 | €42,539 | €12,631 | -€29,909 | -70.3% |
| Taxes | 450/3 | €37,601 | €7,737 | -€29,864 | -79.4% |
| Remuneration and social security | 454/9 | €4,938 | €4,893 | -€45 | -0.9% |
| Other amounts payable | 47/48 | €55,167 | €63,015 | +€7,848 | +14.2% |
| Accrued charges and deferred income | 492/3 | €9,983 | €14,096 | +€4,113 | +41.2% |
| Remuneration, social security and pensions | 62 | €40,544 | €35,247 | -€5,297 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,513 | €184,443 | +€43,929 | +31.3% |
| Other operating charges | 640/8 | €4,542 | €4,104 | -€438 | -9.6% |
| Gross operating margin | 9900 | €692,514 | €482,231 | -€210,283 | -30.4% |
| Operating profit (loss) | 9901 | €506,916 | €258,438 | -€248,478 | -49.0% |
| Financial income | 75/76B | €27,404 | €31,669 | +€4,265 | +15.6% |
| Recurring financial income | 75 | €27,404 | €31,669 | +€4,265 | +15.6% |
| Financial charges | 65/66B | €26,105 | €20,303 | -€5,802 | -22.2% |
| Recurring financial charges | 65 | €26,105 | €20,303 | -€5,802 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €508,214 | €269,804 | -€238,410 | -46.9% |
| Income taxes | 67/77 | €144,178 | €64,731 | -€79,447 | -55.1% |
| Profit (loss) for the period | 9904 | €364,036 | €205,073 | -€158,964 | -43.7% |
| Transfer to tax-exempt reserves | 689 | €159,980 | €168,400 | +€8,420 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €204,056 | €36,673 | -€167,384 | -82.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.