HENRI & MARCEL: 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 & MARCEL
Largest movements
- Cash +€3,367
up €3,367 (+9.2%), from €36,453 to €39,820
mainly Net result for the year (+€13,033) and Depreciation (+€2,389)
- Reserves +€13,033
up €13,033 (+41.6%), from €31,342 to €44,375
- Trade debts -€7,615
down €7,615 (-77.1%), from €9,880 to €2,265
- Tax, wage and social debts -€2,270
down €2,270 (-9.3%), from €24,386 to €22,115
- Gross operating margin -€8,876
down €8,876 (-28.7%), from €30,922 to €22,045
- Taxes -€1,899
down €1,899 (-23.2%), from €8,201 to €6,302
- Depreciation +€897
up €897 (+60.1%), from €1,492 to €2,389
- Financial income -€626
down €626 (-33.9%), from €1,845 to €1,219
- Financial charges -€451
down €451 (-83.2%), from €543 to €91
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 | €68,608 | €71,755 | +€3,148 | +4.6% |
| Fixed assets | 21/28 | €9,556 | €9,553 | -€3 | 0.0% |
| Tangible fixed assets | 22/27 | €9,506 | €9,503 | -€3 | 0.0% |
| Plant, machinery and equipment | 23 | €3,740 | €2,985 | -€755 | -20.2% |
| Furniture and vehicles | 24 | €2,567 | €3,746 | +€1,179 | +45.9% |
| Other tangible fixed assets | 26 | €3,199 | €2,772 | -€426 | -13.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €59,052 | €62,202 | +€3,151 | +5.3% |
| Amounts receivable within one year | 40/41 | €22,444 | €22,225 | -€219 | -1.0% |
| Trade receivables | 40 | €902 | €902 | = | 0.0% |
| Other amounts receivable | 41 | €21,543 | €21,324 | -€219 | -1.0% |
| Cash at bank and in hand | 54/58 | €36,453 | €39,820 | +€3,367 | +9.2% |
| Deferred charges and accrued income | 490/1 | €154 | €157 | +€3 | +2.0% |
| Total equity and liabilities | 10/49 | €68,608 | €71,755 | +€3,148 | +4.6% |
| Equity | 10/15 | €34,342 | €47,375 | +€13,033 | +38.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €31,342 | €44,375 | +€13,033 | +41.6% |
| Distributable reserves | 133 | €31,342 | €44,375 | +€13,033 | +41.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €34,265 | €24,380 | -€9,885 | -28.8% |
| Amounts payable within one year | 42/48 | €34,265 | €24,380 | -€9,885 | -28.8% |
| Trade debts | 44 | €9,880 | €2,265 | -€7,615 | -77.1% |
| Suppliers | 440/4 | €9,880 | €2,265 | -€7,615 | -77.1% |
| Taxes, remuneration and social security | 45 | €24,386 | €22,115 | -€2,270 | -9.3% |
| Taxes | 450/3 | €24,386 | €22,115 | -€2,270 | -9.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,492 | €2,389 | +€897 | +60.1% |
| Other operating charges | 640/8 | €1,033 | €1,449 | +€416 | +40.2% |
| Gross operating margin | 9900 | €30,922 | €22,045 | -€8,876 | -28.7% |
| Operating profit (loss) | 9901 | €28,396 | €18,207 | -€10,189 | -35.9% |
| Financial income | 75/76B | €1,845 | €1,219 | -€626 | -33.9% |
| Recurring financial income | 75 | €1,845 | €1,219 | -€626 | -33.9% |
| Financial charges | 65/66B | €543 | €91 | -€451 | -83.2% |
| Recurring financial charges | 65 | €543 | €91 | -€451 | -83.2% |
| Profit (loss) for the period before taxes | 9903 | €29,699 | €19,335 | -€10,364 | -34.9% |
| Income taxes | 67/77 | €8,201 | €6,302 | -€1,899 | -23.2% |
| Profit (loss) for the period | 9904 | €21,498 | €13,033 | -€8,465 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,498 | €13,033 | -€8,465 | -39.4% |
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 12 October 2026 via checked.be.