HENRIETTE: 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.
What changed
HENRIETTE
NACE 56.111, Full-service restaurants
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€75,655
2024 · €152,123-€76,468
Equity
€397,631
2024 · €321,975+€75,655
Cash
€26,738
2024 · €64,823-€38,085
Balance sheet total
€2.4m
2024 · €2.5m-€127,539
Largest movements
Assets
- Tangible fixed assets -€103,592
down €103,592 (-4.4%), from €2.4m to €2.3m
of which Plant, machinery and equipment: -€72,444
- Cash -€38,085
down €38,085 (-58.8%), from €64,823 to €26,738
mainly Debts after one year (-€175,947) and Investment in fixed assets (net) (-€47,783)
Equity and liabilities
- Debts after one year -€175,947
down €175,947 (-8.9%), from €2.0m to €1.8m
of which Financial debts: -€93,447
- Profit (loss) carried forward +€75,655
up €75,655 (+24.7%), from €305,975 to €381,631
Income statement
- Staff costs +€87,594
up €87,594 (+38.0%), from €230,468 to €318,061
- Gross operating margin +€16,895
up €16,895 (+2.8%), from €610,923 to €627,818
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.
Result 2024
€152,123
Gross operating margin
+€16,895
Staff costs
-€87,594
Depreciation
-€3,011
Other operating charges
+€133
Financial income
-€351
Financial charges
-€1,542
Taxes
-€997
Result 2025
€75,655
raises the resultlowers the result
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.
From operations
+€183,223
Investment
-€47,783
Financing
-€173,525
Cash 2024
€64,823
From operations (derived)
+€183,223
Net result for the year
+€75,655
Depreciation
+€151,572
Stocks and contracts
-€13,395
Receivables within one year
-€5,248
Deferred charges and accrued income
+€4,308
Trade debts
-€12,446
Tax, wage and social debts
-€12,964
Advances received
-€2,181
Other debts
-€2,077
Investment (derived)
-€47,783
Investment in fixed assets (net)
-€47,783
Financing
-€173,525
Debts after one year
-€175,947
Current portion of long-term debt
+€2,467
Short-term financial debts
-€45
Cash 2025
€26,738
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,502,744 | €2,375,206 | -€127,539 | -5.1% |
| Formation expenses | 20 | €245 | €48 | -€197 | -80.2% |
| Fixed assets | 21/28 | €2,375,523 | €2,271,931 | -€103,592 | -4.4% |
| Tangible fixed assets | 22/27 | €2,375,523 | €2,271,931 | -€103,592 | -4.4% |
| Land and buildings | 22 | €1,929,521 | €1,924,658 | -€4,863 | -0.3% |
| Plant, machinery and equipment | 23 | €347,252 | €274,808 | -€72,444 | -20.9% |
| Furniture and vehicles | 24 | €49,841 | €35,545 | -€14,295 | -28.7% |
| Leasing and similar rights | 25 | €48,910 | €36,920 | -€11,990 | -24.5% |
| Current assets | 29/58 | €126,976 | €103,226 | -€23,750 | -18.7% |
| Stocks and contracts in progress | 3 | €38,405 | €51,801 | +€13,395 | +34.9% |
| Stocks | 30/36 | €38,405 | €51,801 | +€13,395 | +34.9% |
| Amounts receivable within one year | 40/41 | €15,046 | €20,294 | +€5,248 | +34.9% |
| Trade receivables | 40 | - | €950 | +€950 | |
| Other amounts receivable | 41 | €15,046 | €19,344 | +€4,298 | +28.6% |
| Cash at bank and in hand | 54/58 | €64,823 | €26,738 | -€38,085 | -58.8% |
| Deferred charges and accrued income | 490/1 | €8,702 | €4,394 | -€4,308 | -49.5% |
| Total equity and liabilities | 10/49 | €2,502,744 | €2,375,206 | -€127,539 | -5.1% |
| Equity | 10/15 | €321,975 | €397,631 | +€75,655 | +23.5% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €305,975 | €381,631 | +€75,655 | +24.7% |
| Amounts payable | 17/49 | €2,180,769 | €1,977,575 | -€203,194 | -9.3% |
| Amounts payable after more than one year | 17 | €1,974,689 | €1,798,741 | -€175,947 | -8.9% |
| Financial debts | 170/4 | €1,566,689 | €1,473,241 | -€93,447 | -6.0% |
| Other amounts payable | 178/9 | €408,000 | €325,500 | -€82,500 | -20.2% |
| Amounts payable within one year | 42/48 | €206,081 | €178,834 | -€27,247 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €90,980 | €93,447 | +€2,467 | +2.7% |
| Financial debts | 43 | €10,143 | €10,098 | -€45 | -0.4% |
| Credit institutions | 430/8 | €10,143 | €10,098 | -€45 | -0.4% |
| Trade debts | 44 | €32,552 | €20,106 | -€12,446 | -38.2% |
| Suppliers | 440/4 | €32,552 | €20,106 | -€12,446 | -38.2% |
| Advances received on contracts in progress | 46 | €20,455 | €18,274 | -€2,181 | -10.7% |
| Taxes, remuneration and social security | 45 | €40,976 | €28,012 | -€12,964 | -31.6% |
| Taxes | 450/3 | €15,281 | €7,618 | -€7,663 | -50.1% |
| Remuneration and social security | 454/9 | €25,695 | €20,394 | -€5,301 | -20.6% |
| Other amounts payable | 47/48 | €10,974 | €8,897 | -€2,077 | -18.9% |
| Remuneration, social security and pensions | 62 | €230,468 | €318,061 | +€87,594 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,561 | €151,572 | +€3,011 | +2.0% |
| Other operating charges | 640/8 | €4,950 | €4,818 | -€133 | -2.7% |
| Gross operating margin | 9900 | €610,923 | €627,818 | +€16,895 | +2.8% |
| Operating profit (loss) | 9901 | €226,944 | €153,367 | -€73,577 | -32.4% |
| Financial income | 75/76B | €355 | €4 | -€351 | -99.0% |
| Recurring financial income | 75 | €355 | €4 | -€351 | -99.0% |
| Financial charges | 65/66B | €56,663 | €58,206 | +€1,542 | +2.7% |
| Recurring financial charges | 65 | €56,663 | €58,206 | +€1,542 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €170,636 | €95,165 | -€75,470 | -44.2% |
| Income taxes | 67/77 | €18,513 | €19,510 | +€997 | +5.4% |
| Profit (loss) for the period | 9904 | €152,123 | €75,655 | -€76,468 | -50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €152,123 | €75,655 | -€76,468 | -50.3% |
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 23 October 2026 via checked.be.