HENK SLEUTJES: 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 SLEUTJES
Largest movements
- Cash -€67,891
down €67,891 (-44.0%), from €154,217 to €86,327
mainly Debts after one year (-€59,618) and Receivables within one year (-€19,311)
- Receivables within one year +€19,311
up €19,311 (+46.4%), from €41,654 to €60,965
of which Trade receivables: +€23,309
- Tangible fixed assets -€8,980
down €8,980 (-48.1%), from €18,654 to €9,674
of which Plant, machinery and equipment: -€5,442
- Debts after one year -€59,618
down €59,618 (-91.4%), from €65,226 to €5,609
- Reserves +€8,525
up €8,525 (+43.5%), from €19,608 to €28,132
of which Distributable reserves: +€8,525
- Trade debts -€6,076
down €6,076 (-36.5%), from €16,649 to €10,573
- Tax, wage and social debts -€2,266
down €2,266 (-9.7%), from €23,295 to €21,029
of which Remuneration and social security: -€4,979
- Staff costs -€19,341
down €19,341 (-14.4%), from €134,425 to €115,085
- Gross operating margin -€13,360
down €13,360 (-8.4%), from €159,085 to €145,724
- Taxes +€2,391
up €2,391 (+147%), from €1,632 to €4,022
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 | €219,100 | €161,349 | -€57,751 | -26.4% |
| Fixed assets | 21/28 | €18,654 | €9,674 | -€8,980 | -48.1% |
| Tangible fixed assets | 22/27 | €18,654 | €9,674 | -€8,980 | -48.1% |
| Plant, machinery and equipment | 23 | €12,390 | €6,949 | -€5,442 | -43.9% |
| Furniture and vehicles | 24 | €6,263 | €2,725 | -€3,538 | -56.5% |
| Current assets | 29/58 | €200,446 | €151,675 | -€48,771 | -24.3% |
| Amounts receivable within one year | 40/41 | €41,654 | €60,965 | +€19,311 | +46.4% |
| Trade receivables | 40 | €34,528 | €57,837 | +€23,309 | +67.5% |
| Other amounts receivable | 41 | €7,126 | €3,128 | -€3,998 | -56.1% |
| Cash at bank and in hand | 54/58 | €154,217 | €86,327 | -€67,891 | -44.0% |
| Deferred charges and accrued income | 490/1 | €4,575 | €4,383 | -€192 | -4.2% |
| Total equity and liabilities | 10/49 | €219,100 | €161,349 | -€57,751 | -26.4% |
| Equity | 10/15 | €55,552 | €64,076 | +€8,525 | +15.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €19,608 | €28,132 | +€8,525 | +43.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €19,608 | €28,132 | +€8,525 | +43.5% |
| Profit (loss) carried forward | 14 | €15,944 | €15,944 | = | 0.0% |
| Amounts payable | 17/49 | €163,548 | €97,272 | -€66,276 | -40.5% |
| Amounts payable after more than one year | 17 | €65,226 | €5,609 | -€59,618 | -91.4% |
| Financial debts | 170/4 | €65,226 | €5,609 | -€59,618 | -91.4% |
| Amounts payable within one year | 42/48 | €95,070 | €87,915 | -€7,155 | -7.5% |
| Trade debts | 44 | €16,649 | €10,573 | -€6,076 | -36.5% |
| Suppliers | 440/4 | €16,649 | €10,573 | -€6,076 | -36.5% |
| Taxes, remuneration and social security | 45 | €23,295 | €21,029 | -€2,266 | -9.7% |
| Taxes | 450/3 | €9,005 | €11,718 | +€2,713 | +30.1% |
| Remuneration and social security | 454/9 | €14,290 | €9,311 | -€4,979 | -34.8% |
| Other amounts payable | 47/48 | €55,126 | €56,313 | +€1,187 | +2.2% |
| Accrued charges and deferred income | 492/3 | €3,252 | €3,748 | +€497 | +15.3% |
| Remuneration, social security and pensions | 62 | €134,425 | €115,085 | -€19,341 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,214 | €12,811 | -€1,404 | -9.9% |
| Other operating charges | 640/8 | €1,912 | €926 | -€986 | -51.5% |
| Gross operating margin | 9900 | €159,085 | €145,724 | -€13,360 | -8.4% |
| Operating profit (loss) | 9901 | €8,533 | €16,903 | +€8,370 | +98.1% |
| Financial income | 75/76B | €284 | €386 | +€101 | +35.7% |
| Recurring financial income | 75 | €284 | €386 | +€101 | +35.7% |
| Financial charges | 65/66B | €3,428 | €3,909 | +€480 | +14.0% |
| Recurring financial charges | 65 | €3,428 | €3,909 | +€480 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €5,389 | €13,380 | +€7,991 | +148% |
| Income taxes | 67/77 | €1,632 | €4,022 | +€2,391 | +147% |
| Profit (loss) for the period | 9904 | €3,758 | €9,358 | +€5,600 | +149% |
| Profit (loss) for the period to be appropriated | 9905 | €3,758 | €9,358 | +€5,600 | +149% |
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 17 October 2026 via checked.be.