HENDRIKS: 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.
HENDRIKS
Largest movements
- Stocks and contracts -€82,737
down €82,737 (-44.1%), from €187,712 to €104,975
- Tangible fixed assets -€81,881
down €81,881 (-11.5%), from €715,084 to €633,203
of which Leasing and similar rights: -€81,881
- Receivables within one year -€80,947
down €80,947 (-13.4%), from €603,904 to €522,957
of which Trade receivables: -€64,865
- Cash -€64,318
down €64,318 (-81.9%), from €78,488 to €14,170
mainly Trade debts (-€277,699) and Debts after one year (-€47,443)
- Trade debts -€277,699
down €277,699 (-52.2%), from €531,677 to €253,978
- Debts after one year -€47,443
down €47,443 (-17.8%), from €265,811 to €218,368
- Gross operating margin +€67,375
up €67,375 (+119.6%), from €56,332 to €123,706
- Depreciation +€53,913
up €53,913 (+192.8%), from €27,968 to €81,881
- Financial charges +€6,914
up €6,914 (+88.9%), from €7,780 to €14,694
- Other operating charges +€1,459
up €1,459 (+7.4%), from €19,806 to €21,266
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 | €1,591,426 | €1,275,305 | -€316,121 | -19.9% |
| Fixed assets | 21/28 | €715,084 | €633,203 | -€81,881 | -11.5% |
| Tangible fixed assets | 22/27 | €715,084 | €633,203 | -€81,881 | -11.5% |
| Land and buildings | 22 | €363,652 | €363,652 | = | 0.0% |
| Leasing and similar rights | 25 | €351,432 | €269,551 | -€81,881 | -23.3% |
| Current assets | 29/58 | €876,342 | €642,102 | -€234,240 | -26.7% |
| Stocks and contracts in progress | 3 | €187,712 | €104,975 | -€82,737 | -44.1% |
| Stocks | 30/36 | €187,712 | €104,975 | -€82,737 | -44.1% |
| Amounts receivable within one year | 40/41 | €603,904 | €522,957 | -€80,947 | -13.4% |
| Trade receivables | 40 | €583,768 | €518,904 | -€64,865 | -11.1% |
| Other amounts receivable | 41 | €20,136 | €4,053 | -€16,082 | -79.9% |
| Cash at bank and in hand | 54/58 | €78,488 | €14,170 | -€64,318 | -81.9% |
| Deferred charges and accrued income | 490/1 | €6,237 | - | -€6,237 | |
| Total equity and liabilities | 10/49 | €1,591,426 | €1,275,305 | -€316,121 | -19.9% |
| Equity | 10/15 | €748,598 | €754,058 | +€5,460 | +0.7% |
| Contributions | 10/11 | €465,527 | €465,527 | = | 0.0% |
| Reserves | 13 | €106,711 | €106,711 | = | 0.0% |
| Non-distributable reserves | 130/1 | €79,650 | €79,650 | = | 0.0% |
| Other | 1319 | €79,650 | €79,650 | = | 0.0% |
| Distributable reserves | 133 | €27,061 | €27,061 | = | 0.0% |
| Profit (loss) carried forward | 14 | €176,360 | €181,821 | +€5,460 | +3.1% |
| Amounts payable | 17/49 | €842,829 | €521,247 | -€321,581 | -38.2% |
| Amounts payable after more than one year | 17 | €265,811 | €218,368 | -€47,443 | -17.8% |
| Financial debts | 170/4 | €265,811 | €218,368 | -€47,443 | -17.8% |
| Amounts payable within one year | 42/48 | €577,017 | €302,879 | -€274,139 | -47.5% |
| Current portion of amounts payable after more than one year | 42 | €45,304 | €43,572 | -€1,732 | -3.8% |
| Trade debts | 44 | €531,677 | €253,978 | -€277,699 | -52.2% |
| Suppliers | 440/4 | €531,677 | €253,978 | -€277,699 | -52.2% |
| Advances received on contracts in progress | 46 | - | €999 | +€999 | |
| Taxes, remuneration and social security | 45 | - | €4,329 | +€4,329 | |
| Taxes | 450/3 | - | €4,329 | +€4,329 | |
| Other amounts payable | 47/48 | €37 | - | -€37 | |
| Non-recurring operating income | 76A | - | €15,839 | +€15,839 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,968 | €81,881 | +€53,913 | +192.8% |
| Other operating charges | 640/8 | €19,806 | €21,266 | +€1,459 | +7.4% |
| Gross operating margin | 9900 | €56,332 | €123,706 | +€67,375 | +119.6% |
| Operating profit (loss) | 9901 | €8,558 | €20,559 | +€12,002 | +140.2% |
| Financial charges | 65/66B | €7,780 | €14,694 | +€6,914 | +88.9% |
| Recurring financial charges | 65 | €7,780 | €14,694 | +€6,914 | +88.9% |
| Profit (loss) for the period before taxes | 9903 | €777 | €5,865 | +€5,088 | +654.8% |
| Income taxes | 67/77 | €386 | €405 | +€19 | +4.8% |
| Profit (loss) for the period | 9904 | €391 | €5,460 | +€5,070 | +1297.5% |
| Profit (loss) for the period to be appropriated | 9905 | €391 | €5,460 | +€5,070 | +1297.5% |
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 7 October 2026 via checked.be.