HENICOL: 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.
HENICOL
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€16,214
up €16,214 (+9.3%), from €174,097 to €190,311
mainly Net result for the year (+€212,229) and Current investments (+€100,000)
- Deferred charges and accrued income +€12,320
up €12,320 (+88.8%), from €13,876 to €26,196
- Tangible fixed assets -€5,622
down €5,622 (-34.1%), from €16,473 to €10,851
of which Furniture and vehicles: -€4,942
- Other debts -€150,960
no longer reported in 2025 (was €150,960)
- Profit (loss) carried forward +€94,582
up €94,582 (+94.3%), from €100,270 to €194,852
- Tax, wage and social debts -€20,712
down €20,712 (-67.6%), from €30,640 to €9,928
- Gross operating margin +€47,864
up €47,864 (+19.6%), from €243,679 to €291,543
- Taxes +€10,677
up €10,677 (+19.5%), from €54,886 to €65,563
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 | €304,543 | €227,454 | -€77,089 | -25.3% |
| Fixed assets | 21/28 | €16,569 | €10,947 | -€5,622 | -33.9% |
| Tangible fixed assets | 22/27 | €16,473 | €10,851 | -€5,622 | -34.1% |
| Plant, machinery and equipment | 23 | €6,052 | €5,372 | -€680 | -11.2% |
| Furniture and vehicles | 24 | €10,421 | €5,479 | -€4,942 | -47.4% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €287,973 | €216,507 | -€71,467 | -24.8% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €174,097 | €190,311 | +€16,214 | +9.3% |
| Deferred charges and accrued income | 490/1 | €13,876 | €26,196 | +€12,320 | +88.8% |
| Total equity and liabilities | 10/49 | €304,543 | €227,454 | -€77,089 | -25.3% |
| Equity | 10/15 | €120,675 | €215,257 | +€94,582 | +78.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €100,270 | €194,852 | +€94,582 | +94.3% |
| Amounts payable | 17/49 | €183,867 | €12,196 | -€171,671 | -93.4% |
| Amounts payable within one year | 42/48 | €183,867 | €12,196 | -€171,671 | -93.4% |
| Trade debts | 44 | €2,267 | €2,269 | +€1 | +0.1% |
| Suppliers | 440/4 | €2,267 | €2,269 | +€1 | +0.1% |
| Taxes, remuneration and social security | 45 | €30,640 | €9,928 | -€20,712 | -67.6% |
| Taxes | 450/3 | €30,640 | €9,928 | -€20,712 | -67.6% |
| Other amounts payable | 47/48 | €150,960 | - | -€150,960 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,758 | €14,510 | +€2,752 | +23.4% |
| Other operating charges | 640/8 | €1,506 | €1,284 | -€222 | -14.7% |
| Gross operating margin | 9900 | €243,679 | €291,543 | +€47,864 | +19.6% |
| Operating profit (loss) | 9901 | €230,416 | €275,750 | +€45,334 | +19.7% |
| Financial income | 75/76B | €2,389 | €2,117 | -€271 | -11.4% |
| Recurring financial income | 75 | €2,389 | €2,117 | -€271 | -11.4% |
| Financial charges | 65/66B | €74 | €75 | +€2 | +2.0% |
| Recurring financial charges | 65 | €74 | €75 | +€2 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €232,731 | €277,792 | +€45,061 | +19.4% |
| Income taxes | 67/77 | €54,886 | €65,563 | +€10,677 | +19.5% |
| Profit (loss) for the period | 9904 | €177,845 | €212,229 | +€34,384 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €177,845 | €212,229 | +€34,384 | +19.3% |
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 8 October 2026 via checked.be.