HENK PYSSON: 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.
HENK PYSSON
Largest movements
- Receivables within one year +€39,268
up €39,268 (+64.8%), from €60,603 to €99,871
of which Trade receivables: +€61,814
- Tangible fixed assets -€19,821
down €19,821 (-23.6%), from €84,107 to €64,286
of which Plant, machinery and equipment: -€16,627
- Cash +€17,285
up €17,285 (+14.6%), from €118,448 to €135,733
mainly Debts after one year (+€37,999) and Net result for the year (+€30,673)
- Trade debts -€47,138
down €47,138 (-51.9%), from €90,820 to €43,682
- Debts after one year +€37,999
new in 2025: €37,999
- Reserves +€30,000
up €30,000 (+40.5%), from €74,110 to €104,110
of which Distributable reserves: +€30,000
- Tax, wage and social debts +€9,044
up €9,044 (+276.7%), from €3,269 to €12,312
- Current portion of long-term debt +€6,128
up €6,128 (+111.4%), from €5,500 to €11,628
- Gross operating margin +€39,193
up €39,193 (+112.7%), from €34,762 to €73,955
- Taxes +€11,192
up €11,192 (+261.2%), from €4,285 to €15,478
- Depreciation +€9,121
up €9,121 (+56.6%), from €16,126 to €25,248
- Financial charges +€1,533
up €1,533 (+1254.4%), from €122 to €1,655
of which Financial charges: +€1,533
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 | €263,158 | €299,890 | +€36,732 | +14.0% |
| Fixed assets | 21/28 | €84,107 | €64,286 | -€19,821 | -23.6% |
| Tangible fixed assets | 22/27 | €84,107 | €64,286 | -€19,821 | -23.6% |
| Land and buildings | 22 | €912 | - | -€912 | |
| Plant, machinery and equipment | 23 | €76,453 | €59,826 | -€16,627 | -21.7% |
| Furniture and vehicles | 24 | €6,742 | €4,460 | -€2,282 | -33.8% |
| Current assets | 29/58 | €179,051 | €235,604 | +€56,553 | +31.6% |
| Amounts receivable within one year | 40/41 | €60,603 | €99,871 | +€39,268 | +64.8% |
| Trade receivables | 40 | €31,863 | €93,677 | +€61,814 | +194.0% |
| Other amounts receivable | 41 | €28,740 | €6,195 | -€22,546 | -78.4% |
| Cash at bank and in hand | 54/58 | €118,448 | €135,733 | +€17,285 | +14.6% |
| Total equity and liabilities | 10/49 | €263,158 | €299,890 | +€36,732 | +14.0% |
| Equity | 10/15 | €148,478 | €179,151 | +€30,673 | +20.7% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €74,110 | €104,110 | +€30,000 | +40.5% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €66,673 | €96,673 | +€30,000 | +45.0% |
| Profit (loss) carried forward | 14 | - | €673 | +€673 | |
| Amounts payable | 17/49 | €114,680 | €120,739 | +€6,059 | +5.3% |
| Amounts payable after more than one year | 17 | - | €37,999 | +€37,999 | |
| Financial debts | 170/4 | - | €37,999 | +€37,999 | |
| Amounts payable within one year | 42/48 | €114,680 | €82,740 | -€31,940 | -27.9% |
| Current portion of amounts payable after more than one year | 42 | €5,500 | €11,628 | +€6,128 | +111.4% |
| Trade debts | 44 | €90,820 | €43,682 | -€47,138 | -51.9% |
| Suppliers | 440/4 | €90,820 | €43,682 | -€47,138 | -51.9% |
| Taxes, remuneration and social security | 45 | €3,269 | €12,312 | +€9,044 | +276.7% |
| Taxes | 450/3 | €3,269 | €12,312 | +€9,044 | +276.7% |
| Other amounts payable | 47/48 | €15,091 | €15,118 | +€26 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,126 | €25,248 | +€9,121 | +56.6% |
| Other operating charges | 640/8 | €677 | €748 | +€70 | +10.4% |
| Non-recurring operating charges | 66A | - | €179 | +€179 | |
| Gross operating margin | 9900 | €34,762 | €73,955 | +€39,193 | +112.7% |
| Operating profit (loss) | 9901 | €17,958 | €47,780 | +€29,823 | +166.1% |
| Financial income | 75/76B | €0 | €25 | +€25 | +6863.9% |
| Recurring financial income | 75 | €0 | €25 | +€25 | +6863.9% |
| Financial charges | 65/66B | €122 | €1,655 | +€1,533 | +1254.4% |
| Recurring financial charges | 65 | €117 | €1,650 | +€1,533 | +1307.9% |
| Non-recurring financial charges | 66B | €5 | €5 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €17,836 | €46,151 | +€28,315 | +158.7% |
| Income taxes | 67/77 | €4,285 | €15,478 | +€11,192 | +261.2% |
| Profit (loss) for the period | 9904 | €13,551 | €30,673 | +€17,122 | +126.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,551 | €30,673 | +€17,122 | +126.4% |
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 10 October 2026 via checked.be.