HENKA: 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.
HENKA
Largest movements
- Cash -€98,096
down €98,096 (-11.1%), from €883,900 to €785,805
mainly Contributions, distributions and other (-€214,286) and Investment in fixed assets (net) (-€212,386)
- Tangible fixed assets +€71,783
up €71,783 (+9.3%), from €770,337 to €842,120
of which Assets under construction and advance payments: +€90,613
- Stocks and contracts +€41,921
up €41,921 (+58.9%), from €71,156 to €113,077
- Receivables within one year -€41,034
down €41,034 (-13.5%), from €304,305 to €263,270
of which Trade receivables: -€36,659
- Tax, wage and social debts +€76,308
up €76,308 (+191.6%), from €39,827 to €116,135
of which Taxes: +€59,074
- Profit (loss) carried forward -€75,217
down €75,217 (-3.5%), from €2.1m to €2.1m
- Other debts -€65,060
down €65,060 (-28.6%), from €227,144 to €162,085
- Trade debts +€30,751
up €30,751 (+101.6%), from €30,268 to €61,019
- Gross operating margin -€171,071
down €171,071 (-20.7%), from €824,622 to €653,551
- Staff costs -€43,373
down €43,373 (-12.3%), from €351,497 to €308,123
- Taxes -€39,755
down €39,755 (-50.5%), from €78,669 to €38,914
- Depreciation +€15,887
up €15,887 (+12.7%), from €124,717 to €140,603
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 | €2,559,174 | €2,526,100 | -€33,075 | -1.3% |
| Fixed assets | 21/28 | €772,052 | €843,835 | +€71,783 | +9.3% |
| Tangible fixed assets | 22/27 | €770,337 | €842,120 | +€71,783 | +9.3% |
| Land and buildings | 22 | €142,014 | €168,444 | +€26,430 | +18.6% |
| Plant, machinery and equipment | 23 | €453,017 | €407,821 | -€45,196 | -10.0% |
| Furniture and vehicles | 24 | €175,306 | €175,241 | -€65 | 0.0% |
| Assets under construction and advance payments | 27 | - | €90,613 | +€90,613 | |
| Financial fixed assets | 28 | €1,715 | €1,715 | = | 0.0% |
| Current assets | 29/58 | €1,787,122 | €1,682,265 | -€104,857 | -5.9% |
| Stocks and contracts in progress | 3 | €71,156 | €113,077 | +€41,921 | +58.9% |
| Stocks | 30/36 | €71,156 | €113,077 | +€41,921 | +58.9% |
| Amounts receivable within one year | 40/41 | €304,305 | €263,270 | -€41,034 | -13.5% |
| Trade receivables | 40 | €212,686 | €176,027 | -€36,659 | -17.2% |
| Other amounts receivable | 41 | €91,619 | €87,244 | -€4,375 | -4.8% |
| Current investments | 50/53 | €500,000 | €500,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €883,900 | €785,805 | -€98,096 | -11.1% |
| Deferred charges and accrued income | 490/1 | €27,762 | €20,113 | -€7,649 | -27.6% |
| Total equity and liabilities | 10/49 | €2,559,174 | €2,526,100 | -€33,075 | -1.3% |
| Equity | 10/15 | €2,261,935 | €2,186,718 | -€75,217 | -3.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €64,527 | €64,527 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,277 | €8,277 | = | 0.0% |
| Legal reserve | 130 | €8,277 | €8,277 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,135,407 | €2,060,190 | -€75,217 | -3.5% |
| Amounts payable | 17/49 | €297,240 | €339,382 | +€42,142 | +14.2% |
| Amounts payable within one year | 42/48 | €297,240 | €339,239 | +€42,000 | +14.1% |
| Trade debts | 44 | €30,268 | €61,019 | +€30,751 | +101.6% |
| Suppliers | 440/4 | €30,268 | €61,019 | +€30,751 | +101.6% |
| Taxes, remuneration and social security | 45 | €39,827 | €116,135 | +€76,308 | +191.6% |
| Taxes | 450/3 | €8,910 | €67,984 | +€59,074 | +663.0% |
| Remuneration and social security | 454/9 | €30,917 | €48,152 | +€17,234 | +55.7% |
| Other amounts payable | 47/48 | €227,144 | €162,085 | -€65,060 | -28.6% |
| Accrued charges and deferred income | 492/3 | - | €143 | +€143 | |
| Non-recurring operating income | 76A | €4,104 | €4,545 | +€442 | +10.8% |
| Remuneration, social security and pensions | 62 | €351,497 | €308,123 | -€43,373 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,717 | €140,603 | +€15,887 | +12.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,566 | €4,909 | -€3,657 | -42.7% |
| Other operating charges | 640/8 | €21,327 | €27,802 | +€6,475 | +30.4% |
| Non-recurring operating charges | 66A | €4,348 | €0 | -€4,348 | -100.0% |
| Gross operating margin | 9900 | €824,622 | €653,551 | -€171,071 | -20.7% |
| Operating profit (loss) | 9901 | €314,167 | €172,113 | -€142,054 | -45.2% |
| Financial income | 75/76B | €11,767 | €6,751 | -€5,016 | -42.6% |
| Recurring financial income | 75 | €11,767 | €6,751 | -€5,016 | -42.6% |
| Financial charges | 65/66B | €1,249 | €881 | -€368 | -29.5% |
| Recurring financial charges | 65 | €1,249 | €881 | -€368 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €324,685 | €177,983 | -€146,702 | -45.2% |
| Income taxes | 67/77 | €78,669 | €38,914 | -€39,755 | -50.5% |
| Profit (loss) for the period | 9904 | €246,016 | €139,069 | -€106,948 | -43.5% |
| Profit (loss) for the period to be appropriated | 9905 | €246,016 | €139,069 | -€106,948 | -43.5% |
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 9 October 2026 via checked.be.