HENRI TACK: 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 TACK
Largest movements
- Cash +€70,561
up €70,561 (+20.2%), from €349,578 to €420,139
mainly Net result for the year (+€619,370) and Other debts (+€225,491)
- Receivables within one year -€37,227
down €37,227 (-18.7%), from €199,479 to €162,252
of which Trade receivables: -€35,989
- Reserves -€231,121
down €231,121 (-10.1%), from €2.3m to €2.1m
- Other debts +€225,491
up €225,491 (+36.1%), from €625,000 to €850,491
- Financial income +€256,157
up €256,157 (+1,019%), from €25,149 to €281,306
- Gross operating margin -€94,453
down €94,453 (-12.5%), from €757,026 to €662,573
- Taxes +€52,765
up €52,765 (+21.6%), from €244,200 to €296,965
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 | €3,074,849 | €3,089,776 | +€14,927 | +0.5% |
| Fixed assets | 21/28 | €224,605 | €206,000 | -€18,605 | -8.3% |
| Tangible fixed assets | 22/27 | €224,605 | €206,000 | -€18,605 | -8.3% |
| Land and buildings | 22 | €203,232 | €192,096 | -€11,136 | -5.5% |
| Furniture and vehicles | 24 | €14,506 | €8,753 | -€5,752 | -39.7% |
| Other tangible fixed assets | 26 | €6,867 | €5,151 | -€1,717 | -25.0% |
| Current assets | 29/58 | €2,850,244 | €2,883,776 | +€33,532 | +1.2% |
| Amounts receivable within one year | 40/41 | €199,479 | €162,252 | -€37,227 | -18.7% |
| Trade receivables | 40 | €190,798 | €154,809 | -€35,989 | -18.9% |
| Other amounts receivable | 41 | €8,681 | €7,443 | -€1,238 | -14.3% |
| Current investments | 50/53 | €2,300,007 | €2,300,001 | -€6 | 0.0% |
| Cash at bank and in hand | 54/58 | €349,578 | €420,139 | +€70,561 | +20.2% |
| Deferred charges and accrued income | 490/1 | €1,180 | €1,384 | +€204 | +17.3% |
| Total equity and liabilities | 10/49 | €3,074,849 | €3,089,776 | +€14,927 | +0.5% |
| Equity | 10/15 | €2,312,547 | €2,081,426 | -€231,121 | -10.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,297,172 | €2,066,051 | -€231,121 | -10.1% |
| Distributable reserves | 133 | €2,297,172 | €2,066,051 | -€231,121 | -10.1% |
| Profit (loss) carried forward | 14 | €2,975 | €2,975 | = | 0.0% |
| Amounts payable | 17/49 | €762,302 | €1,008,350 | +€246,048 | +32.3% |
| Amounts payable within one year | 42/48 | €762,283 | €1,008,350 | +€246,066 | +32.3% |
| Trade debts | 44 | €1,279 | €500 | -€778 | -60.9% |
| Suppliers | 440/4 | €1,279 | €500 | -€778 | -60.9% |
| Taxes, remuneration and social security | 45 | €136,005 | €157,358 | +€21,353 | +15.7% |
| Taxes | 450/3 | €136,005 | €157,358 | +€21,353 | +15.7% |
| Other amounts payable | 47/48 | €625,000 | €850,491 | +€225,491 | +36.1% |
| Accrued charges and deferred income | 492/3 | €19 | - | -€19 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,934 | €18,605 | -€329 | -1.7% |
| Other operating charges | 640/8 | €7,107 | €4,775 | -€2,333 | -32.8% |
| Gross operating margin | 9900 | €757,026 | €662,573 | -€94,453 | -12.5% |
| Operating profit (loss) | 9901 | €730,985 | €639,193 | -€91,792 | -12.6% |
| Financial income | 75/76B | €25,149 | €281,306 | +€256,157 | +1,019% |
| Recurring financial income | 75 | €25,149 | €281,306 | +€256,157 | +1,019% |
| Financial charges | 65/66B | €686 | €4,165 | +€3,479 | +507% |
| Recurring financial charges | 65 | €686 | €4,165 | +€3,479 | +507% |
| Profit (loss) for the period before taxes | 9903 | €755,448 | €916,335 | +€160,886 | +21.3% |
| Income taxes | 67/77 | €244,200 | €296,965 | +€52,765 | +21.6% |
| Profit (loss) for the period | 9904 | €511,249 | €619,370 | +€108,121 | +21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €511,249 | €619,370 | +€108,121 | +21.1% |
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 22 October 2026 via checked.be.