HENMAN: 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.
HENMAN
Largest movements
- Cash -€32,719
down €32,719 (-59.0%), from €55,451 to €22,732
mainly Current portion of long-term debt (-€145,889) and Accrued charges and deferred income (-€9,035)
- Current portion of long-term debt -€145,889
down €145,889 (-90.6%), from €161,000 to €15,111
- Profit (loss) carried forward +€77,115
up €77,115 (+46.2%), from €167,055 to €244,169
- Debts after one year +€49,467
up €49,467 (+49.5%), from €100,000 to €149,467
- Accrued charges and deferred income -€9,035
down €9,035 (-59.1%), from €15,279 to €6,244
- Financial charges -€8,676
down €8,676 (-47.6%), from €18,237 to €9,561
- Financial income +€6,039
up €6,039 (+11.2%), from €54,073 to €60,112
- Taxes +€3,397
up €3,397 (+47.3%), from €7,177 to €10,574
- Gross operating margin -€3,138
down €3,138 (-6.9%), from €45,447 to €42,309
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 | €761,216 | €730,194 | -€31,021 | -4.1% |
| Fixed assets | 21/28 | €683,701 | €683,278 | -€423 | -0.1% |
| Tangible fixed assets | 22/27 | €23,512 | €23,089 | -€423 | -1.8% |
| Plant, machinery and equipment | 23 | €4,134 | €3,097 | -€1,037 | -25.1% |
| Furniture and vehicles | 24 | €6,749 | €6,053 | -€696 | -10.3% |
| Other tangible fixed assets | 26 | €12,629 | €13,939 | +€1,310 | +10.4% |
| Financial fixed assets | 28 | €660,189 | €660,189 | = | 0.0% |
| Current assets | 29/58 | €77,515 | €46,917 | -€30,598 | -39.5% |
| Amounts receivable within one year | 40/41 | €18,634 | €19,609 | +€975 | +5.2% |
| Trade receivables | 40 | €18,634 | €19,602 | +€968 | +5.2% |
| Other amounts receivable | 41 | €0 | €7 | +€7 | |
| Cash at bank and in hand | 54/58 | €55,451 | €22,732 | -€32,719 | -59.0% |
| Deferred charges and accrued income | 490/1 | €3,430 | €4,575 | +€1,145 | +33.4% |
| Total equity and liabilities | 10/49 | €761,216 | €730,194 | -€31,021 | -4.1% |
| Equity | 10/15 | €462,715 | €539,829 | +€77,115 | +16.7% |
| Contributions | 10/11 | €293,800 | €293,800 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €167,055 | €244,169 | +€77,115 | +46.2% |
| Amounts payable | 17/49 | €298,501 | €190,365 | -€108,136 | -36.2% |
| Amounts payable after more than one year | 17 | €100,000 | €149,467 | +€49,467 | +49.5% |
| Financial debts | 170/4 | €100,000 | €149,467 | +€49,467 | +49.5% |
| Amounts payable within one year | 42/48 | €183,222 | €34,654 | -€148,568 | -81.1% |
| Current portion of amounts payable after more than one year | 42 | €161,000 | €15,111 | -€145,889 | -90.6% |
| Trade debts | 44 | €7,124 | €2,185 | -€4,939 | -69.3% |
| Suppliers | 440/4 | €7,124 | €2,185 | -€4,939 | -69.3% |
| Taxes, remuneration and social security | 45 | €14,887 | €17,252 | +€2,365 | +15.9% |
| Taxes | 450/3 | €12,838 | €15,173 | +€2,336 | +18.2% |
| Remuneration and social security | 454/9 | €2,049 | €2,078 | +€29 | +1.4% |
| Other amounts payable | 47/48 | €211 | €106 | -€104 | -49.5% |
| Accrued charges and deferred income | 492/3 | €15,279 | €6,244 | -€9,035 | -59.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,011 | €3,932 | -€79 | -2.0% |
| Other operating charges | 640/8 | €1,032 | €1,240 | +€208 | +20.1% |
| Gross operating margin | 9900 | €45,447 | €42,309 | -€3,138 | -6.9% |
| Operating profit (loss) | 9901 | €40,404 | €37,137 | -€3,267 | -8.1% |
| Financial income | 75/76B | €54,073 | €60,112 | +€6,039 | +11.2% |
| Recurring financial income | 75 | €54,073 | €60,112 | +€6,039 | +11.2% |
| Financial charges | 65/66B | €18,237 | €9,561 | -€8,676 | -47.6% |
| Recurring financial charges | 65 | €18,237 | €9,561 | -€8,676 | -47.6% |
| Profit (loss) for the period before taxes | 9903 | €76,240 | €87,688 | +€11,448 | +15.0% |
| Income taxes | 67/77 | €7,177 | €10,574 | +€3,397 | +47.3% |
| Profit (loss) for the period | 9904 | €69,063 | €77,115 | +€8,051 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €69,063 | €77,115 | +€8,051 | +11.7% |
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 22 October 2026 via checked.be.