HENMOR: 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.
HENMOR
Largest movements
- Receivables within one year +€106,535
up €106,535 (+20.5%), from €520,221 to €626,756
of which Other amounts receivable: +€137,317
- Tangible fixed assets -€35,430
down €35,430 (-12.5%), from €282,367 to €246,937
of which Leasing and similar rights: -€34,909
- Current investments +€22,500
up €22,500 (+8.9%), from €254,163 to €276,663
- Reserves +€138,500
up €138,500 (+15.9%), from €869,510 to €1.0m
of which Distributable reserves: +€138,500
- Debts after one year -€37,843
down €37,843 (-39.2%), from €96,575 to €58,731
- Other debts -€11,666
no longer reported in 2025 (was €11,666)
- Gross operating margin +€39,992
up €39,992 (+19.2%), from €208,761 to €248,753
- Taxes +€13,817
up €13,817 (+25.9%), from €53,267 to €67,083
- Financial income +€4,800
new in 2025: €4,800
of which Non-recurring financial income: +€4,800
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 | €1,064,242 | €1,156,278 | +€92,036 | +8.6% |
| Fixed assets | 21/28 | €282,452 | €247,022 | -€35,430 | -12.5% |
| Tangible fixed assets | 22/27 | €282,367 | €246,937 | -€35,430 | -12.5% |
| Land and buildings | 22 | €149,000 | €149,000 | = | 0.0% |
| Furniture and vehicles | 24 | €521 | - | -€521 | |
| Leasing and similar rights | 25 | €132,846 | €97,937 | -€34,909 | -26.3% |
| Financial fixed assets | 28 | €85 | €85 | = | 0.0% |
| Current assets | 29/58 | €781,790 | €909,256 | +€127,466 | +16.3% |
| Amounts receivable within one year | 40/41 | €520,221 | €626,756 | +€106,535 | +20.5% |
| Trade receivables | 40 | €36,590 | €5,808 | -€30,782 | -84.1% |
| Other amounts receivable | 41 | €483,631 | €620,948 | +€137,317 | +28.4% |
| Current investments | 50/53 | €254,163 | €276,663 | +€22,500 | +8.9% |
| Cash at bank and in hand | 54/58 | €1,333 | €2,784 | +€1,451 | +108.8% |
| Deferred charges and accrued income | 490/1 | €6,073 | €3,054 | -€3,019 | -49.7% |
| Total equity and liabilities | 10/49 | €1,064,242 | €1,156,278 | +€92,036 | +8.6% |
| Equity | 10/15 | €888,110 | €1,026,704 | +€138,594 | +15.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €869,510 | €1,008,010 | +€138,500 | +15.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €130,200 | €130,200 | = | 0.0% |
| Distributable reserves | 133 | €737,450 | €875,950 | +€138,500 | +18.8% |
| Profit (loss) carried forward | 14 | - | €94 | +€94 | |
| Amounts payable | 17/49 | €176,132 | €129,574 | -€46,558 | -26.4% |
| Amounts payable after more than one year | 17 | €96,575 | €58,731 | -€37,843 | -39.2% |
| Financial debts | 170/4 | €96,575 | €58,731 | -€37,843 | -39.2% |
| Amounts payable within one year | 42/48 | €76,855 | €70,843 | -€6,012 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €36,737 | €37,464 | +€727 | +2.0% |
| Trade debts | 44 | €4,802 | €6,280 | +€1,478 | +30.8% |
| Suppliers | 440/4 | €4,802 | €6,280 | +€1,478 | +30.8% |
| Taxes, remuneration and social security | 45 | €23,650 | €27,099 | +€3,450 | +14.6% |
| Taxes | 450/3 | €23,650 | €27,099 | +€3,450 | +14.6% |
| Other amounts payable | 47/48 | €11,666 | - | -€11,666 | |
| Accrued charges and deferred income | 492/3 | €2,703 | - | -€2,703 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,479 | €35,430 | -€48 | -0.1% |
| Other operating charges | 640/8 | €9,524 | €7,989 | -€1,536 | -16.1% |
| Non-recurring operating charges | 66A | €1,187 | €616 | -€570 | -48.1% |
| Gross operating margin | 9900 | €208,761 | €248,753 | +€39,992 | +19.2% |
| Operating profit (loss) | 9901 | €162,571 | €204,717 | +€42,146 | +25.9% |
| Financial income | 75/76B | - | €4,800 | +€4,800 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €4,800 | +€4,800 | |
| Financial charges | 65/66B | €5,331 | €3,840 | -€1,491 | -28.0% |
| Recurring financial charges | 65 | €5,331 | €3,840 | -€1,491 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €157,241 | €205,677 | +€48,437 | +30.8% |
| Income taxes | 67/77 | €53,267 | €67,083 | +€13,817 | +25.9% |
| Profit (loss) for the period | 9904 | €103,974 | €138,594 | +€34,620 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €103,974 | €138,594 | +€34,620 | +33.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.