Henri vdW: 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 vdW
Largest movements
- Receivables within one year +€13,401
up €13,401 (+1,242%), from €1,079 to €14,480
of which Trade receivables: +€8,767
- Cash -€6,182
down €6,182 (-36.4%), from €16,994 to €10,813
mainly Receivables within one year (-€13,401) and Current investments (-€5,051)
- Current investments +€5,051
new in 2025: €5,051
- Tangible fixed assets -€1,640
down €1,640 (-6.7%), from €24,374 to €22,735
of which Land and buildings: -€1,125
- Reserves +€12,573
up €12,573 (+62.3%), from €20,186 to €32,759
- Tax, wage and social debts -€1,765
down €1,765 (-18.3%), from €9,642 to €7,877
- Gross operating margin +€24,699
up €24,699, from -€6,165 to €18,535
- Taxes +€3,556
new in 2025: €3,556
- Depreciation -€228
down €228 (-12.2%), from €1,868 to €1,640
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 | €42,448 | €53,078 | +€10,630 | +25.0% |
| Fixed assets | 21/28 | €24,374 | €22,735 | -€1,640 | -6.7% |
| Tangible fixed assets | 22/27 | €24,374 | €22,735 | -€1,640 | -6.7% |
| Land and buildings | 22 | €23,860 | €22,735 | -€1,125 | -4.7% |
| Plant, machinery and equipment | 23 | €301 | - | -€301 | |
| Furniture and vehicles | 24 | €214 | - | -€214 | |
| Current assets | 29/58 | €18,073 | €30,343 | +€12,270 | +67.9% |
| Amounts receivable within one year | 40/41 | €1,079 | €14,480 | +€13,401 | +1,242% |
| Trade receivables | 40 | €1,079 | €9,846 | +€8,767 | +812% |
| Other amounts receivable | 41 | - | €4,633 | +€4,633 | |
| Current investments | 50/53 | - | €5,051 | +€5,051 | |
| Cash at bank and in hand | 54/58 | €16,994 | €10,813 | -€6,182 | -36.4% |
| Total equity and liabilities | 10/49 | €42,448 | €53,078 | +€10,630 | +25.0% |
| Equity | 10/15 | €30,854 | €43,427 | +€12,573 | +40.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €20,186 | €32,759 | +€12,573 | +62.3% |
| Distributable reserves | 133 | €20,186 | €32,759 | +€12,573 | +62.3% |
| Profit (loss) carried forward | 14 | €10,667 | €10,667 | = | 0.0% |
| Amounts payable | 17/49 | €11,594 | €9,651 | -€1,943 | -16.8% |
| Amounts payable within one year | 42/48 | €9,906 | €7,877 | -€2,029 | -20.5% |
| Trade debts | 44 | €264 | - | -€264 | |
| Suppliers | 440/4 | €264 | - | -€264 | |
| Taxes, remuneration and social security | 45 | €9,642 | €7,877 | -€1,765 | -18.3% |
| Taxes | 450/3 | €9,642 | €7,877 | -€1,765 | -18.3% |
| Accrued charges and deferred income | 492/3 | €1,688 | €1,774 | +€86 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,868 | €1,640 | -€228 | -12.2% |
| Other operating charges | 640/8 | €592 | €611 | +€18 | +3.1% |
| Gross operating margin | 9900 | -€6,165 | €18,535 | +€24,699 | |
| Operating profit (loss) | 9901 | -€8,625 | €16,284 | +€24,909 | |
| Financial charges | 65/66B | €135 | €155 | +€20 | +15.0% |
| Recurring financial charges | 65 | €135 | €155 | +€20 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,760 | €16,129 | +€24,889 | |
| Income taxes | 67/77 | - | €3,556 | +€3,556 | |
| Profit (loss) for the period | 9904 | -€8,760 | €12,573 | +€21,333 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,760 | €12,573 | +€21,333 |
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 20 October 2026 via checked.be.