HENROTAY: 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.
HENROTAY
Largest movements
- Cash +€9,995
up €9,995 (+33.3%), from €29,986 to €39,981
mainly Net result for the year (+€16,419) and Tax, wage and social debts (+€7,500)
- Receivables within one year +€9,248
new in 2025: €9,248
- Tangible fixed assets +€5,347
new in 2025: €5,347
- Profit (loss) carried forward +€16,419
up €16,419 (+50.6%), from -€32,433 to -€16,014
- Tax, wage and social debts +€7,500
new in 2025: €7,500
- Trade debts +€6,999
up €6,999 (+2,491%), from €281 to €7,280
- Other debts -€5,637
no longer reported in 2025 (was €5,637)
- Turnover +€32,814
up €32,814 (+50.8%), from €64,618 to €97,432
- Gross operating margin +€21,009
up €21,009 (+223%), from €9,427 to €30,436
- Purchases and services +€17,291
up €17,291 (+31.3%), from €55,191 to €72,482
- Taxes +€11,346
new in 2025: €11,346
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 | €50,213 | €75,494 | +€25,281 | +50.3% |
| Fixed assets | 21/28 | €4,952 | €10,299 | +€5,347 | +108% |
| Tangible fixed assets | 22/27 | - | €5,347 | +€5,347 | |
| Plant, machinery and equipment | 23 | - | €5,347 | +€5,347 | |
| Financial fixed assets | 28 | €4,952 | €4,952 | = | 0.0% |
| Current assets | 29/58 | €45,261 | €65,195 | +€19,934 | +44.0% |
| Stocks and contracts in progress | 3 | €2,000 | €2,000 | = | 0.0% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €9,248 | +€9,248 | |
| Other amounts receivable | 41 | - | €9,248 | +€9,248 | |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,986 | €39,981 | +€9,995 | +33.3% |
| Deferred charges and accrued income | 490/1 | €3,275 | €3,966 | +€691 | +21.1% |
| Total equity and liabilities | 10/49 | €50,213 | €75,494 | +€25,281 | +50.3% |
| Equity | 10/15 | €44,295 | €60,714 | +€16,419 | +37.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | - | -€25,000 | |
| Issued capital | 100 | €25,000 | - | -€25,000 | |
| Reserves | 13 | €51,728 | €51,728 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €49,228 | €49,228 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,433 | -€16,014 | +€16,419 | +50.6% |
| Amounts payable | 17/49 | €5,918 | €14,780 | +€8,862 | +150% |
| Amounts payable within one year | 42/48 | €5,918 | €14,780 | +€8,862 | +150% |
| Trade debts | 44 | €281 | €7,280 | +€6,999 | +2,491% |
| Suppliers | 440/4 | €281 | €7,280 | +€6,999 | +2,491% |
| Taxes, remuneration and social security | 45 | - | €7,500 | +€7,500 | |
| Taxes | 450/3 | - | €7,500 | +€7,500 | |
| Other amounts payable | 47/48 | €5,637 | - | -€5,637 | |
| Turnover | 70 | €64,618 | €97,432 | +€32,814 | +50.8% |
| Non-recurring operating income | 76A | - | €5,486 | +€5,486 | |
| Goods, raw materials, services and sundry goods | 60/61 | €55,191 | €72,482 | +€17,291 | +31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €751 | +€751 | |
| Other operating charges | 640/8 | €1,041 | €1,875 | +€834 | +80.1% |
| Gross operating margin | 9900 | €9,427 | €30,436 | +€21,009 | +223% |
| Operating profit (loss) | 9901 | €8,386 | €27,810 | +€19,424 | +232% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €8,341 | €27,765 | +€19,424 | +233% |
| Income taxes | 67/77 | - | €11,346 | +€11,346 | |
| Profit (loss) for the period | 9904 | €8,341 | €16,419 | +€8,078 | +96.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,341 | €16,419 | +€8,078 | +96.8% |
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 18 October 2026 via checked.be.