HENRI DROUIN: 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 DROUIN
Largest movements
- Tangible fixed assets -€21,661
down €21,661 (-1.1%), from €2.0m to €1.9m
of which Land and buildings: -€20,832
- Debts after one year -€139,247
down €139,247 (-13.8%), from €1.0m to €873,421
- Reserves +€133,986
up €133,986 (+16.1%), from €830,326 to €964,311
of which Distributable reserves: +€135,969
- Other debts -€33,850
down €33,850 (-94.0%), from €36,000 to €2,150
- Depreciation -€111,098
down €111,098 (-56.3%), from €197,289 to €86,191
- Gross operating margin +€79,506
up €79,506 (+30.1%), from €264,347 to €343,853
- Taxes +€53,815
up €53,815 (+539%), from €9,984 to €63,798
- Financial charges +€10,247
up €10,247 (+29.8%), from €34,416 to €44,663
- Other operating charges +€5,573
up €5,573 (+53.2%), from €10,475 to €16,048
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 | €2,067,883 | €2,051,555 | -€16,328 | -0.8% |
| Fixed assets | 21/28 | €1,956,056 | €1,934,395 | -€21,661 | -1.1% |
| Tangible fixed assets | 22/27 | €1,955,986 | €1,934,325 | -€21,661 | -1.1% |
| Land and buildings | 22 | €1,953,213 | €1,932,381 | -€20,832 | -1.1% |
| Plant, machinery and equipment | 23 | €235 | - | -€235 | |
| Furniture and vehicles | 24 | €2,538 | €1,944 | -€594 | -23.4% |
| Financial fixed assets | 28 | €70 | €70 | = | 0.0% |
| Current assets | 29/58 | €111,827 | €117,160 | +€5,333 | +4.8% |
| Amounts receivable within one year | 40/41 | €26,647 | €25,481 | -€1,166 | -4.4% |
| Trade receivables | 40 | €22,840 | €24,773 | +€1,933 | +8.5% |
| Other amounts receivable | 41 | €3,807 | €708 | -€3,099 | -81.4% |
| Cash at bank and in hand | 54/58 | €81,040 | €84,694 | +€3,654 | +4.5% |
| Deferred charges and accrued income | 490/1 | €4,139 | €6,985 | +€2,846 | +68.7% |
| Total equity and liabilities | 10/49 | €2,067,883 | €2,051,555 | -€16,328 | -0.8% |
| Equity | 10/15 | €842,726 | €976,711 | +€133,986 | +15.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €830,326 | €964,311 | +€133,986 | +16.1% |
| Tax-exempt reserves | 132 | €57,524 | €55,541 | -€1,983 | -3.4% |
| Distributable reserves | 133 | €772,801 | €908,771 | +€135,969 | +17.6% |
| Provisions and deferred taxes | 16 | €24,163 | €23,330 | -€833 | -3.4% |
| Deferred taxes | 168 | €24,163 | €23,330 | -€833 | -3.4% |
| Amounts payable | 17/49 | €1,200,994 | €1,051,514 | -€149,480 | -12.4% |
| Amounts payable after more than one year | 17 | €1,012,668 | €873,421 | -€139,247 | -13.8% |
| Financial debts | 170/4 | €1,012,668 | €873,421 | -€139,247 | -13.8% |
| Amounts payable within one year | 42/48 | €184,735 | €174,375 | -€10,360 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €136,812 | €144,588 | +€7,776 | +5.7% |
| Trade debts | 44 | €9,188 | €11,079 | +€1,891 | +20.6% |
| Suppliers | 440/4 | €9,188 | €11,079 | +€1,891 | +20.6% |
| Taxes, remuneration and social security | 45 | €2,735 | €16,559 | +€13,824 | +505% |
| Taxes | 450/3 | - | €13,798 | +€13,798 | |
| Remuneration and social security | 454/9 | €2,735 | €2,760 | +€25 | +0.9% |
| Other amounts payable | 47/48 | €36,000 | €2,150 | -€33,850 | -94.0% |
| Accrued charges and deferred income | 492/3 | €3,591 | €3,718 | +€127 | +3.5% |
| Non-recurring operating income | 76A | - | €13,098 | +€13,098 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €197,289 | €86,191 | -€111,098 | -56.3% |
| Other operating charges | 640/8 | €10,475 | €16,048 | +€5,573 | +53.2% |
| Gross operating margin | 9900 | €264,347 | €343,853 | +€79,506 | +30.1% |
| Operating profit (loss) | 9901 | €56,583 | €241,614 | +€185,031 | +327% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €34,416 | €44,663 | +€10,247 | +29.8% |
| Recurring financial charges | 65 | €34,416 | €44,663 | +€10,247 | +29.8% |
| Profit (loss) for the period before taxes | 9903 | €22,168 | €196,951 | +€174,783 | +788% |
| Transfer from deferred taxes | 780 | €833 | €833 | = | 0.0% |
| Income taxes | 67/77 | €9,984 | €63,798 | +€53,815 | +539% |
| Profit (loss) for the period | 9904 | €13,017 | €133,986 | +€120,968 | +929% |
| Transfer from tax-exempt reserves | 789 | €1,983 | €1,983 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,001 | €135,969 | +€120,968 | +806% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.