HENDRIVET: 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.
HENDRIVET
Largest movements
- Receivables within one year -€82,596
down €82,596 (-50.5%), from €163,399 to €80,803
of which Other amounts receivable: -€83,500
- Cash +€23,023
up €23,023 (+25.8%), from €89,375 to €112,398
mainly Receivables within one year (+€82,596) and Depreciation (+€12,567)
- Tangible fixed assets -€6,555
down €6,555 (-22.3%), from €29,433 to €22,878
of which Furniture and vehicles: -€9,549
- Financial fixed assets +€4,200
up €4,200 (+58.3%), from €7,204 to €11,404
- Profit (loss) carried forward -€64,906
down €64,906 (-50.7%), from €127,899 to €62,993
- Debts after one year -€11,938
down €11,938 (-78.6%), from €15,182 to €3,244
- Trade debts +€7,511
up €7,511 (+280%), from €2,682 to €10,193
- Tax, wage and social debts +€3,999
up €3,999 (+34.9%), from €11,446 to €15,445
of which Taxes: +€3,804
- Depreciation +€3,376
up €3,376 (+36.7%), from €9,191 to €12,567
- Financial income -€1,518
down €1,518 (-98.8%), from €1,537 to €19
- Staff costs -€660
down €660 (-1.6%), from €41,285 to €40,625
- Other operating charges +€306
up €306 (+20.7%), from €1,478 to €1,784
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 | €290,202 | €228,165 | -€62,037 | -21.4% |
| Fixed assets | 21/28 | €36,637 | €34,282 | -€2,355 | -6.4% |
| Tangible fixed assets | 22/27 | €29,433 | €22,878 | -€6,555 | -22.3% |
| Land and buildings | 22 | - | €5,494 | +€5,494 | |
| Plant, machinery and equipment | 23 | €7,477 | €4,977 | -€2,500 | -33.4% |
| Furniture and vehicles | 24 | €21,956 | €12,407 | -€9,549 | -43.5% |
| Financial fixed assets | 28 | €7,204 | €11,404 | +€4,200 | +58.3% |
| Current assets | 29/58 | €253,565 | €193,883 | -€59,682 | -23.5% |
| Amounts receivable within one year | 40/41 | €163,399 | €80,803 | -€82,596 | -50.5% |
| Trade receivables | 40 | €2,074 | €2,978 | +€904 | +43.6% |
| Other amounts receivable | 41 | €161,325 | €77,825 | -€83,500 | -51.8% |
| Cash at bank and in hand | 54/58 | €89,375 | €112,398 | +€23,023 | +25.8% |
| Deferred charges and accrued income | 490/1 | €791 | €682 | -€109 | -13.8% |
| Total equity and liabilities | 10/49 | €290,202 | €228,165 | -€62,037 | -21.4% |
| Equity | 10/15 | €232,442 | €167,536 | -€64,906 | -27.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €85,943 | €85,943 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,400 | €1,400 | = | 0.0% |
| Distributable reserves | 133 | €82,683 | €82,683 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,899 | €62,993 | -€64,906 | -50.7% |
| Amounts payable | 17/49 | €57,760 | €60,629 | +€2,869 | +5.0% |
| Amounts payable after more than one year | 17 | €15,182 | €3,244 | -€11,938 | -78.6% |
| Financial debts | 170/4 | €15,182 | €3,244 | -€11,938 | -78.6% |
| Amounts payable within one year | 42/48 | €42,578 | €57,385 | +€14,807 | +34.8% |
| Current portion of amounts payable after more than one year | 42 | €11,450 | €11,937 | +€487 | +4.3% |
| Trade debts | 44 | €2,682 | €10,193 | +€7,511 | +280% |
| Suppliers | 440/4 | €2,682 | €10,193 | +€7,511 | +280% |
| Taxes, remuneration and social security | 45 | €11,446 | €15,445 | +€3,999 | +34.9% |
| Taxes | 450/3 | €5,017 | €8,821 | +€3,804 | +75.8% |
| Remuneration and social security | 454/9 | €6,429 | €6,624 | +€195 | +3.0% |
| Other amounts payable | 47/48 | €17,000 | €19,810 | +€2,810 | +16.5% |
| Remuneration, social security and pensions | 62 | €41,285 | €40,625 | -€660 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,191 | €12,567 | +€3,376 | +36.7% |
| Other operating charges | 640/8 | €1,478 | €1,784 | +€306 | +20.7% |
| Non-recurring operating charges | 66A | - | €35,588 | +€35,588 | |
| Gross operating margin | 9900 | €27,583 | €27,320 | -€263 | -1.0% |
| Operating profit (loss) | 9901 | -€24,371 | -€63,244 | -€38,873 | -160% |
| Financial income | 75/76B | €1,537 | €19 | -€1,518 | -98.8% |
| Recurring financial income | 75 | €1,537 | €19 | -€1,518 | -98.8% |
| Financial charges | 65/66B | €1,005 | €949 | -€56 | -5.6% |
| Recurring financial charges | 65 | €1,005 | €949 | -€56 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€23,839 | -€64,174 | -€40,335 | -169% |
| Income taxes | 67/77 | €721 | €732 | +€11 | +1.5% |
| Profit (loss) for the period | 9904 | -€24,560 | -€64,906 | -€40,346 | -164% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,560 | -€64,906 | -€40,346 | -164% |
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.