Henrion Bertard: 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.
Henrion Bertard
Largest movements
- Cash +€100,024
up €100,024 (+104.4%), from €95,821 to €195,845
mainly Net result for the year (+€100,064) and Other debts (+€1,207)
- Receivables within one year +€2,612
up €2,612 (+125.5%), from €2,082 to €4,694
- Profit (loss) carried forward +€100,064
up €100,064 (+149.7%), from €66,839 to €166,903
- Gross operating margin +€42,190
up €42,190 (+49.4%), from €85,347 to €127,537
- Taxes +€9,785
up €9,785 (+57.9%), from €16,903 to €26,688
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 | €98,599 | €200,784 | +€102,185 | +103.6% |
| Fixed assets | 21/28 | €556 | €245 | -€311 | -55.9% |
| Tangible fixed assets | 22/27 | €556 | €245 | -€311 | -55.9% |
| Furniture and vehicles | 24 | €556 | €245 | -€311 | -55.9% |
| Current assets | 29/58 | €98,043 | €200,539 | +€102,496 | +104.5% |
| Amounts receivable within one year | 40/41 | €2,082 | €4,694 | +€2,612 | +125.5% |
| Other amounts receivable | 41 | €2,082 | €4,694 | +€2,612 | +125.5% |
| Cash at bank and in hand | 54/58 | €95,821 | €195,845 | +€100,024 | +104.4% |
| Deferred charges and accrued income | 490/1 | €140 | - | -€140 | |
| Total equity and liabilities | 10/49 | €98,599 | €200,784 | +€102,185 | +103.6% |
| Equity | 10/15 | €85,588 | €185,651 | +€100,064 | +116.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €16,749 | €16,749 | = | 0.0% |
| Distributable reserves | 133 | €16,749 | €16,749 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,839 | €166,903 | +€100,064 | +149.7% |
| Amounts payable | 17/49 | €13,011 | €15,133 | +€2,121 | +16.3% |
| Amounts payable within one year | 42/48 | €13,011 | €15,133 | +€2,121 | +16.3% |
| Taxes, remuneration and social security | 45 | €7,909 | €8,824 | +€914 | +11.6% |
| Taxes | 450/3 | €7,909 | €8,824 | +€914 | +11.6% |
| Other amounts payable | 47/48 | €5,102 | €6,309 | +€1,207 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €311 | €311 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €85,347 | €127,537 | +€42,190 | +49.4% |
| Operating profit (loss) | 9901 | €84,649 | €126,826 | +€42,178 | +49.8% |
| Financial charges | 65/66B | €74 | €75 | +€2 | +2.0% |
| Recurring financial charges | 65 | €74 | €75 | +€2 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €84,575 | €126,751 | +€42,176 | +49.9% |
| Income taxes | 67/77 | €16,903 | €26,688 | +€9,785 | +57.9% |
| Profit (loss) for the period | 9904 | €67,672 | €100,064 | +€32,391 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | €67,672 | €100,064 | +€32,391 | +47.9% |
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.