Henri Dethier: 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.
Henri Dethier
Largest movements
- Cash +€16,222
up €16,222 (+86.3%), from €18,791 to €35,014
mainly Trade debts (+€21,708) and Tax, wage and social debts (+€11,656)
- Tangible fixed assets -€11,639
down €11,639 (-33.9%), from €34,375 to €22,736
of which Leasing and similar rights: -€10,683
- Receivables within one year +€5,336
up €5,336 (+10.5%), from €50,975 to €56,311
of which Trade receivables: +€3,538
- Trade debts +€21,708
up €21,708 (+86.2%), from €25,176 to €46,884
- Tax, wage and social debts +€11,656
up €11,656 (+500%), from €2,331 to €13,987
of which Remuneration and social security: +€10,331
- Debts after one year -€9,038
down €9,038 (-42.3%), from €21,373 to €12,335
- Other debts -€8,891
down €8,891 (-46.3%), from €19,218 to €10,327
- Profit (loss) carried forward -€5,156
down €5,156, from €661 to -€4,495
- Staff costs -€43,285
down €43,285 (-22.9%), from €188,642 to €145,357
- Gross operating margin -€41,902
down €41,902 (-21.6%), from €194,147 to €152,244
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 | €115,554 | €125,572 | +€10,018 | +8.7% |
| Fixed assets | 21/28 | €39,485 | €27,846 | -€11,639 | -29.5% |
| Tangible fixed assets | 22/27 | €34,375 | €22,736 | -€11,639 | -33.9% |
| Plant, machinery and equipment | 23 | €1,037 | €82 | -€955 | -92.1% |
| Leasing and similar rights | 25 | €33,338 | €22,655 | -€10,683 | -32.0% |
| Financial fixed assets | 28 | €5,110 | €5,110 | = | 0.0% |
| Current assets | 29/58 | €76,069 | €97,726 | +€21,657 | +28.5% |
| Stocks and contracts in progress | 3 | €2,194 | €1,829 | -€365 | -16.6% |
| Stocks | 30/36 | €2,194 | €1,829 | -€365 | -16.6% |
| Amounts receivable within one year | 40/41 | €50,975 | €56,311 | +€5,336 | +10.5% |
| Trade receivables | 40 | €44,558 | €48,096 | +€3,538 | +7.9% |
| Other amounts receivable | 41 | €6,417 | €8,215 | +€1,798 | +28.0% |
| Current investments | 50/53 | €124 | €124 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €18,791 | €35,014 | +€16,222 | +86.3% |
| Deferred charges and accrued income | 490/1 | €3,984 | €4,448 | +€464 | +11.7% |
| Total equity and liabilities | 10/49 | €115,554 | €125,572 | +€10,018 | +8.7% |
| Equity | 10/15 | €35,443 | €28,287 | -€7,156 | -20.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,182 | €14,182 | -€2,000 | -12.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €14,322 | €12,322 | -€2,000 | -14.0% |
| Profit (loss) carried forward | 14 | €661 | -€4,495 | -€5,156 | |
| Amounts payable | 17/49 | €80,111 | €97,285 | +€17,174 | +21.4% |
| Amounts payable after more than one year | 17 | €21,373 | €12,335 | -€9,038 | -42.3% |
| Financial debts | 170/4 | €21,373 | €12,335 | -€9,038 | -42.3% |
| Amounts payable within one year | 42/48 | €54,706 | €79,497 | +€24,791 | +45.3% |
| Current portion of amounts payable after more than one year | 42 | €7,981 | €8,299 | +€318 | +4.0% |
| Trade debts | 44 | €25,176 | €46,884 | +€21,708 | +86.2% |
| Suppliers | 440/4 | €25,176 | €46,884 | +€21,708 | +86.2% |
| Taxes, remuneration and social security | 45 | €2,331 | €13,987 | +€11,656 | +500% |
| Taxes | 450/3 | €427 | €1,752 | +€1,325 | +310% |
| Remuneration and social security | 454/9 | €1,904 | €12,235 | +€10,331 | +543% |
| Other amounts payable | 47/48 | €19,218 | €10,327 | -€8,891 | -46.3% |
| Accrued charges and deferred income | 492/3 | €4,032 | €5,454 | +€1,422 | +35.3% |
| Remuneration, social security and pensions | 62 | €188,642 | €145,357 | -€43,285 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,650 | €11,639 | -€1,011 | -8.0% |
| Other operating charges | 640/8 | €2,501 | €1,182 | -€1,318 | -52.7% |
| Gross operating margin | 9900 | €194,147 | €152,244 | -€41,902 | -21.6% |
| Operating profit (loss) | 9901 | -€9,646 | -€5,934 | +€3,712 | +38.5% |
| Financial income | 75/76B | €360 | €6 | -€354 | -98.3% |
| Recurring financial income | 75 | €360 | €6 | -€354 | -98.3% |
| Financial charges | 65/66B | €2,201 | €1,229 | -€972 | -44.2% |
| Recurring financial charges | 65 | €2,201 | €1,229 | -€972 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | -€11,486 | -€7,156 | +€4,330 | +37.7% |
| Profit (loss) for the period | 9904 | -€11,486 | -€7,156 | +€4,330 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,486 | -€7,156 | +€4,330 | +37.7% |
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 25 October 2026 via checked.be.