HENLOTON: 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.
What changed
HENLOTON
NACE 23.610, Manufacture of other non-metallic mineral products
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€763,498
2024 · €50,240-€813,738
Equity
-€472,157
2024 · €291,341-€763,498
Cash
€113,869
2024 · €65,620+€48,249
Balance sheet total
€8.5m
2024 · €7.3m+€1.2m
Largest movements
Assets
- Tangible fixed assets +€1.3m
up €1.3m (+21.2%), from €6.0m to €7.3m
of which Land and buildings: +€2.4m
- Stocks and contracts -€147,225
down €147,225 (-17.7%), from €829,796 to €682,570
Equity and liabilities
- Debts after one year +€933,853
up €933,853 (+15.4%), from €6.1m to €7.0m
- Profit (loss) carried forward -€763,498
down €763,498, from €0 to -€763,498
- Trade debts +€554,957
up €554,957 (+120%), from €462,300 to €1.0m
- Short-term financial debts +€275,000
up €275,000 (+367%), from €75,000 to €350,000
- Current portion of long-term debt +€167,131
up €167,131 (+60.6%), from €275,602 to €442,733
Income statement
- Gross operating margin -€352,563
down €352,563 (-37.9%), from €931,337 to €578,775
- Depreciation +€206,292
up €206,292 (+64.5%), from €319,758 to €526,050
- Staff costs +€118,772
up €118,772 (+30.1%), from €394,863 to €513,635
- Financial charges +€110,275
up €110,275 (+52.6%), from €209,703 to €319,978
- Financial income -€26,081
down €26,081 (-40.4%), from €64,572 to €38,491
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.
Result 2024
€50,240
Gross operating margin
-€352,563
Staff costs
-€118,772
Depreciation
-€206,292
Write-downs
-€9,886
Other operating charges
+€10,095
Financial income
-€26,081
Financial charges
-€110,275
Taxes
+€35
Result 2025
-€763,498
raises the resultlowers the result
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.
From operations
+€489,790
Investment
-€1.8m
Financing
+€1.4m
Cash 2024
€65,620
From operations (derived)
+€489,790
Net result for the year
-€763,498
Depreciation
+€526,050
Stocks and contracts
+€147,225
Receivables within one year
+€22,456
Deferred charges and accrued income
-€26,816
Trade debts
+€554,957
Tax, wage and social debts
+€24,616
Other debts
-€12,000
Accrued charges and deferred income
+€16,800
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Financing
+€1.4m
Debts after one year
+€933,853
Current portion of long-term debt
+€167,131
Short-term financial debts
+€275,000
Cash 2025
€113,869
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,259,211 | €8,456,070 | +€1.2m | +16.5% |
| Fixed assets | 21/28 | €6,007,338 | €7,298,813 | +€1.3m | +21.5% |
| Intangible fixed assets | 21 | €7,748 | €25,099 | +€17,351 | +224% |
| Tangible fixed assets | 22/27 | €5,999,590 | €7,273,714 | +€1.3m | +21.2% |
| Land and buildings | 22 | €800,964 | €3,232,757 | +€2.4m | +304% |
| Plant, machinery and equipment | 23 | €3,292,522 | €3,796,979 | +€504,457 | +15.3% |
| Furniture and vehicles | 24 | €177,776 | €124,576 | -€53,200 | -29.9% |
| Leasing and similar rights | 25 | - | €119,403 | +€119,403 | |
| Assets under construction and advance payments | 27 | €1,728,327 | €0 | -€1.7m | -100% |
| Current assets | 29/58 | €1,251,873 | €1,157,257 | -€94,616 | -7.6% |
| Stocks and contracts in progress | 3 | €829,796 | €682,570 | -€147,225 | -17.7% |
| Stocks | 30/36 | €829,796 | €682,570 | -€147,225 | -17.7% |
| Amounts receivable within one year | 40/41 | €344,387 | €321,931 | -€22,456 | -6.5% |
| Trade receivables | 40 | €305,582 | €320,479 | +€14,897 | +4.9% |
| Other amounts receivable | 41 | €38,805 | €1,452 | -€37,353 | -96.3% |
| Cash at bank and in hand | 54/58 | €65,620 | €113,869 | +€48,249 | +73.5% |
| Deferred charges and accrued income | 490/1 | €12,071 | €38,887 | +€26,816 | +222% |
| Total equity and liabilities | 10/49 | €7,259,211 | €8,456,070 | +€1.2m | +16.5% |
| Equity | 10/15 | €291,341 | -€472,157 | -€763,498 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €286,341 | €286,341 | = | 0.0% |
| Distributable reserves | 133 | €286,341 | €286,341 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€763,498 | -€763,498 | |
| Amounts payable | 17/49 | €6,967,870 | €8,928,227 | +€2.0m | +28.1% |
| Amounts payable after more than one year | 17 | €6,080,270 | €7,014,123 | +€933,853 | +15.4% |
| Financial debts | 170/4 | €6,080,270 | €7,014,123 | +€933,853 | +15.4% |
| Amounts payable within one year | 42/48 | €887,600 | €1,897,304 | +€1.0m | +114% |
| Current portion of amounts payable after more than one year | 42 | €275,602 | €442,733 | +€167,131 | +60.6% |
| Financial debts | 43 | €75,000 | €350,000 | +€275,000 | +367% |
| Credit institutions | 430/8 | €75,000 | €350,000 | +€275,000 | +367% |
| Trade debts | 44 | €462,300 | €1,017,257 | +€554,957 | +120% |
| Suppliers | 440/4 | €462,300 | €1,017,257 | +€554,957 | +120% |
| Taxes, remuneration and social security | 45 | €42,134 | €66,750 | +€24,616 | +58.4% |
| Taxes | 450/3 | €11,971 | €16,522 | +€4,551 | +38.0% |
| Remuneration and social security | 454/9 | €30,164 | €50,228 | +€20,065 | +66.5% |
| Other amounts payable | 47/48 | €32,564 | €20,564 | -€12,000 | -36.9% |
| Accrued charges and deferred income | 492/3 | - | €16,800 | +€16,800 | |
| Remuneration, social security and pensions | 62 | €394,863 | €513,635 | +€118,772 | +30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €319,758 | €526,050 | +€206,292 | +64.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €158 | €10,043 | +€9,886 | +6,261% |
| Other operating charges | 640/8 | €20,851 | €10,756 | -€10,095 | -48.4% |
| Gross operating margin | 9900 | €931,337 | €578,775 | -€352,563 | -37.9% |
| Operating profit (loss) | 9901 | €195,707 | -€481,710 | -€677,417 | |
| Financial income | 75/76B | €64,572 | €38,491 | -€26,081 | -40.4% |
| Recurring financial income | 75 | €64,572 | €38,491 | -€26,081 | -40.4% |
| Financial charges | 65/66B | €209,703 | €319,978 | +€110,275 | +52.6% |
| Recurring financial charges | 65 | €209,703 | €319,978 | +€110,275 | +52.6% |
| Profit (loss) for the period before taxes | 9903 | €50,577 | -€763,196 | -€813,773 | |
| Income taxes | 67/77 | €337 | €301 | -€35 | -10.5% |
| Profit (loss) for the period | 9904 | €50,240 | -€763,498 | -€813,738 | |
| Profit (loss) for the period to be appropriated | 9905 | €50,240 | -€763,498 | -€813,738 |
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 18 October 2026 via checked.be.