HENNEBERT OLIVIER: 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.
HENNEBERT OLIVIER
Largest movements
- Cash +€73,302
up €73,302 (+79.7%), from €91,975 to €165,278
mainly Net result for the year (+€100,636) and Depreciation (+€13,624)
- Tangible fixed assets -€13,084
down €13,084 (-27.0%), from €48,481 to €35,396
- Deferred charges and accrued income +€6,120
up €6,120 (+40.6%), from €15,063 to €21,183
- Profit (loss) carried forward +€100,636
up €100,636 (+180%), from €56,057 to €156,693
- Tax, wage and social debts -€23,041
down €23,041 (-74.3%), from €31,021 to €7,980
of which Taxes: -€23,041
- Trade debts -€6,467
no longer reported in 2025 (was €6,467)
- Other debts -€4,556
down €4,556 (-69.2%), from €6,586 to €2,029
- Gross operating margin +€137,202
up €137,202 (+2,321%), from €5,912 to €143,115
- Taxes +€25,679
up €25,679 (+12,763%), from €201 to €25,880
- Financial charges +€1,747
up €1,747 (+484%), from €361 to €2,108
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 | €175,787 | €242,359 | +€66,571 | +37.9% |
| Fixed assets | 21/28 | €48,927 | €35,396 | -€13,530 | -27.7% |
| Tangible fixed assets | 22/27 | €48,481 | €35,396 | -€13,084 | -27.0% |
| Furniture and vehicles | 24 | €48,481 | €35,396 | -€13,084 | -27.0% |
| Financial fixed assets | 28 | €446 | - | -€446 | |
| Current assets | 29/58 | €126,861 | €206,962 | +€80,102 | +63.1% |
| Amounts receivable within one year | 40/41 | €19,823 | €20,501 | +€679 | +3.4% |
| Trade receivables | 40 | - | €2,679 | +€2,679 | |
| Other amounts receivable | 41 | €19,823 | €17,822 | -€2,000 | -10.1% |
| Cash at bank and in hand | 54/58 | €91,975 | €165,278 | +€73,302 | +79.7% |
| Deferred charges and accrued income | 490/1 | €15,063 | €21,183 | +€6,120 | +40.6% |
| Total equity and liabilities | 10/49 | €175,787 | €242,359 | +€66,571 | +37.9% |
| Equity | 10/15 | €131,713 | €232,350 | +€100,636 | +76.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €73,656 | €73,656 | = | 0.0% |
| Distributable reserves | 133 | €73,656 | €73,656 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,057 | €156,693 | +€100,636 | +180% |
| Amounts payable | 17/49 | €44,074 | €10,009 | -€34,065 | -77.3% |
| Amounts payable within one year | 42/48 | €44,074 | €10,009 | -€34,065 | -77.3% |
| Trade debts | 44 | €6,467 | - | -€6,467 | |
| Suppliers | 440/4 | €6,467 | - | -€6,467 | |
| Taxes, remuneration and social security | 45 | €31,021 | €7,980 | -€23,041 | -74.3% |
| Taxes | 450/3 | €28,921 | €5,880 | -€23,041 | -79.7% |
| Remuneration and social security | 454/9 | €2,100 | €2,100 | = | 0.0% |
| Other amounts payable | 47/48 | €6,586 | €2,029 | -€4,556 | -69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,516 | €13,624 | +€108 | +0.8% |
| Other operating charges | 640/8 | €488 | €866 | +€377 | +77.3% |
| Gross operating margin | 9900 | €5,912 | €143,115 | +€137,202 | +2,321% |
| Operating profit (loss) | 9901 | -€8,092 | €128,625 | +€136,716 | |
| Financial charges | 65/66B | €361 | €2,108 | +€1,747 | +484% |
| Recurring financial charges | 65 | €361 | €2,108 | +€1,747 | +484% |
| Profit (loss) for the period before taxes | 9903 | -€8,453 | €126,516 | +€134,969 | |
| Income taxes | 67/77 | €201 | €25,880 | +€25,679 | +12,763% |
| Profit (loss) for the period | 9904 | -€8,654 | €100,636 | +€109,290 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,654 | €100,636 | +€109,290 |
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 24 October 2026 via checked.be.