HENFI: 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.
HENFI
Largest movements
- Cash +€69,702
up €69,702 (+51.6%), from €135,186 to €204,888
mainly Net result for the year (+€47,819) and Advances received (+€37,150)
- Tangible fixed assets +€17,685
up €17,685 (+1,623%), from €1,090 to €18,774
of which Land and buildings: +€18,774
- Receivables within one year +€17,479
up €17,479 (+38.8%), from €45,025 to €62,504
of which Trade receivables: +€24,824
- Receivables after one year +€11,000
new in 2024: €11,000
- Reserves +€47,819
up €47,819 (+8.6%), from €554,634 to €602,453
of which Distributable reserves: +€47,819
- Advances received +€37,150
new in 2024: €37,150
- Trade debts +€15,147
up €15,147 (+443%), from €3,418 to €18,565
- Debts after one year +€9,535
up €9,535 (+412%), from €2,314 to €11,850
- Gross operating margin +€7,045
up €7,045 (+3.7%), from €191,523 to €198,568
- Taxes +€6,762
up €6,762 (+28.6%), from €23,664 to €30,426
- Financial charges -€4,170
down €4,170 (-52.7%), from €7,910 to €3,740
- Staff costs +€4,059
up €4,059 (+3.6%), from €112,163 to €116,222
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €694,039 | €812,470 | +€118,431 | +17.1% |
| Fixed assets | 21/28 | €1,090 | €18,774 | +€17,685 | +1,623% |
| Tangible fixed assets | 22/27 | €1,090 | €18,774 | +€17,685 | +1,623% |
| Land and buildings | 22 | - | €18,774 | +€18,774 | |
| Plant, machinery and equipment | 23 | €1,090 | - | -€1,090 | |
| Current assets | 29/58 | €692,949 | €793,696 | +€100,747 | +14.5% |
| Amounts receivable after more than one year | 29 | - | €11,000 | +€11,000 | |
| Other amounts receivable | 291 | - | €11,000 | +€11,000 | |
| Stocks and contracts in progress | 3 | €512,737 | €515,193 | +€2,456 | +0.5% |
| Stocks | 30/36 | €512,737 | €515,193 | +€2,456 | +0.5% |
| Amounts receivable within one year | 40/41 | €45,025 | €62,504 | +€17,479 | +38.8% |
| Trade receivables | 40 | €26,255 | €51,080 | +€24,824 | +94.5% |
| Other amounts receivable | 41 | €18,770 | €11,424 | -€7,345 | -39.1% |
| Cash at bank and in hand | 54/58 | €135,186 | €204,888 | +€69,702 | +51.6% |
| Deferred charges and accrued income | 490/1 | - | €110 | +€110 | |
| Total equity and liabilities | 10/49 | €694,039 | €812,470 | +€118,431 | +17.1% |
| Equity | 10/15 | €574,290 | €622,109 | +€47,819 | +8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €554,634 | €602,453 | +€47,819 | +8.6% |
| 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 | €17,000 | €17,000 | = | 0.0% |
| Distributable reserves | 133 | €535,774 | €583,593 | +€47,819 | +8.9% |
| Profit (loss) carried forward | 14 | €1,056 | €1,056 | = | 0.0% |
| Amounts payable | 17/49 | €119,749 | €190,361 | +€70,613 | +59.0% |
| Amounts payable after more than one year | 17 | €2,314 | €11,850 | +€9,535 | +412% |
| Financial debts | 170/4 | €2,314 | €11,850 | +€9,535 | +412% |
| Amounts payable within one year | 42/48 | €117,435 | €176,295 | +€58,860 | +50.1% |
| Current portion of amounts payable after more than one year | 42 | €1,820 | €8,011 | +€6,190 | +340% |
| Financial debts | 43 | €64,174 | €65,967 | +€1,793 | +2.8% |
| Credit institutions | 430/8 | €2,201 | €3,994 | +€1,793 | +81.4% |
| Other loans | 439 | €61,973 | €61,973 | = | 0.0% |
| Trade debts | 44 | €3,418 | €18,565 | +€15,147 | +443% |
| Suppliers | 440/4 | €3,418 | €18,565 | +€15,147 | +443% |
| Advances received on contracts in progress | 46 | - | €37,150 | +€37,150 | |
| Taxes, remuneration and social security | 45 | €48,022 | €46,602 | -€1,420 | -3.0% |
| Taxes | 450/3 | €27,465 | €26,073 | -€1,392 | -5.1% |
| Remuneration and social security | 454/9 | €20,557 | €20,529 | -€28 | -0.1% |
| Accrued charges and deferred income | 492/3 | - | €2,217 | +€2,217 | |
| Remuneration, social security and pensions | 62 | €112,163 | €116,222 | +€4,059 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,032 | €1,363 | -€669 | -32.9% |
| Other operating charges | 640/8 | €6,362 | €4,980 | -€1,382 | -21.7% |
| Gross operating margin | 9900 | €191,523 | €198,568 | +€7,045 | +3.7% |
| Operating profit (loss) | 9901 | €70,967 | €76,004 | +€5,037 | +7.1% |
| Financial income | 75/76B | €7,272 | €5,981 | -€1,291 | -17.8% |
| Recurring financial income | 75 | €7,272 | €5,981 | -€1,291 | -17.8% |
| Financial charges | 65/66B | €7,910 | €3,740 | -€4,170 | -52.7% |
| Recurring financial charges | 65 | €7,910 | €3,740 | -€4,170 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | €70,329 | €78,245 | +€7,916 | +11.3% |
| Income taxes | 67/77 | €23,664 | €30,426 | +€6,762 | +28.6% |
| Profit (loss) for the period | 9904 | €46,665 | €47,819 | +€1,153 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | €46,665 | €47,819 | +€1,153 | +2.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.