HENRI: what changed
Two fiscal 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.
HENRI
Largest movements
- Cash +€98,301
up €98,301 (+269.5%), from €36,470 to €134,772
mainly Other debts (+€119,570) and Net result for the year (+€81,044)
- Tangible fixed assets -€67,037
down €67,037 (-8.2%), from €818,777 to €751,741
of which Land and buildings: -€49,107
- Receivables within one year +€43,795
up €43,795 (+196.0%), from €22,343 to €66,137
of which Other amounts receivable: +€22,149
- Current investments -€18,000
down €18,000 (-16.4%), from €110,000 to €92,000
- Other debts +€119,570
up €119,570 (+523.9%), from €22,825 to €142,395
- Reserves -€68,956
down €68,956 (-25.6%), from €269,815 to €200,859
- Debts after one year -€40,197
down €40,197 (-6.9%), from €585,860 to €545,664
- Trade debts +€33,005
up €33,005 (+200.0%), from €16,500 to €49,505
- Tax, wage and social debts +€22,366
up €22,366 (+48.9%), from €45,706 to €68,071
of which Taxes: +€20,234
- Gross operating margin +€24,021
up €24,021 (+5.3%), from €450,524 to €474,545
- Staff costs +€20,582
up €20,582 (+8.2%), from €250,037 to €270,619
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 | €1,013,087 | €1,074,506 | +€61,418 | +6.1% |
| Fixed assets | 21/28 | €819,945 | €752,658 | -€67,287 | -8.2% |
| Intangible fixed assets | 21 | €1,167 | €917 | -€250 | -21.4% |
| Tangible fixed assets | 22/27 | €818,777 | €751,741 | -€67,037 | -8.2% |
| Land and buildings | 22 | €693,694 | €644,587 | -€49,107 | -7.1% |
| Plant, machinery and equipment | 23 | €96,769 | €88,096 | -€8,673 | -9.0% |
| Furniture and vehicles | 24 | €26,815 | €17,557 | -€9,257 | -34.5% |
| Other tangible fixed assets | 26 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €193,143 | €321,848 | +€128,705 | +66.6% |
| Stocks and contracts in progress | 3 | €17,648 | €22,907 | +€5,258 | +29.8% |
| Stocks | 30/36 | €17,648 | €22,907 | +€5,258 | +29.8% |
| Amounts receivable within one year | 40/41 | €22,343 | €66,137 | +€43,795 | +196.0% |
| Trade receivables | 40 | €3,796 | €25,442 | +€21,646 | +570.2% |
| Other amounts receivable | 41 | €18,546 | €40,695 | +€22,149 | +119.4% |
| Current investments | 50/53 | €110,000 | €92,000 | -€18,000 | -16.4% |
| Cash at bank and in hand | 54/58 | €36,470 | €134,772 | +€98,301 | +269.5% |
| Deferred charges and accrued income | 490/1 | €6,681 | €6,032 | -€649 | -9.7% |
| Total equity and liabilities | 10/49 | €1,013,087 | €1,074,506 | +€61,418 | +6.1% |
| Equity | 10/15 | €270,815 | €201,859 | -€68,956 | -25.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €269,815 | €200,859 | -€68,956 | -25.6% |
| Distributable reserves | 133 | €269,815 | €200,859 | -€68,956 | -25.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €742,273 | €872,647 | +€130,374 | +17.6% |
| Amounts payable after more than one year | 17 | €585,860 | €545,664 | -€40,197 | -6.9% |
| Financial debts | 170/4 | €585,860 | €545,664 | -€40,197 | -6.9% |
| Amounts payable within one year | 42/48 | €151,241 | €326,969 | +€175,728 | +116.2% |
| Current portion of amounts payable after more than one year | 42 | €39,378 | €40,197 | +€819 | +2.1% |
| Financial debts | 43 | €26,833 | €26,801 | -€32 | -0.1% |
| Credit institutions | 430/8 | €26,833 | €26,801 | -€32 | -0.1% |
| Trade debts | 44 | €16,500 | €49,505 | +€33,005 | +200.0% |
| Suppliers | 440/4 | €16,500 | €49,505 | +€33,005 | +200.0% |
| Taxes, remuneration and social security | 45 | €45,706 | €68,071 | +€22,366 | +48.9% |
| Taxes | 450/3 | €13,184 | €33,418 | +€20,234 | +153.5% |
| Remuneration and social security | 454/9 | €32,521 | €34,654 | +€2,132 | +6.6% |
| Other amounts payable | 47/48 | €22,825 | €142,395 | +€119,570 | +523.9% |
| Accrued charges and deferred income | 492/3 | €5,171 | €14 | -€5,157 | -99.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €250,037 | €270,619 | +€20,582 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,397 | €74,887 | +€489 | +0.7% |
| Other operating charges | 640/8 | €5,137 | €6,346 | +€1,209 | +23.5% |
| Gross operating margin | 9900 | €450,524 | €474,545 | +€24,021 | +5.3% |
| Operating profit (loss) | 9901 | €120,952 | €122,693 | +€1,741 | +1.4% |
| Financial income | 75/76B | €209 | €2,912 | +€2,702 | +1291.4% |
| Recurring financial income | 75 | €209 | €2,912 | +€2,702 | +1291.4% |
| Financial charges | 65/66B | €17,913 | €19,577 | +€1,664 | +9.3% |
| Recurring financial charges | 65 | €17,913 | €19,577 | +€1,664 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €103,248 | €106,027 | +€2,779 | +2.7% |
| Income taxes | 67/77 | €25,166 | €24,983 | -€183 | -0.7% |
| Profit (loss) for the period | 9904 | €78,082 | €81,044 | +€2,962 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €78,082 | €81,044 | +€2,962 | +3.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.