HENROTIN VISION: what changed
HENROTIN VISION
Largest movements
- Financial fixed assets +€150,000
new in 2025: €150,000
- Receivables within one year +€32,149
up €32,149 (+77.7%), from €41,365 to €73,514
of which Other amounts receivable: +€30,676
- Tangible fixed assets -€11,576
no longer reported in 2025 (was €11,576)
- Cash +€4,348
up €4,348 (+6.0%), from €72,785 to €77,133
mainly Debts after one year (+€138,905) and Other debts (+€65,169)
- Debts after one year +€138,905
up €138,905 (+3,020%), from €4,599 to €143,504
- Other debts +€65,169
up €65,169 (+22,700%), from €287 to €65,456
- Reserves -€46,526
down €46,526 (-86.9%), from €53,526 to €7,000
- Current portion of long-term debt +€21,393
up €21,393 (+303%), from €7,069 to €28,461
- Trade debts -€8,099
down €8,099 (-80.9%), from €10,015 to €1,916
- Staff costs +€27,942
up €27,942 (+19.9%), from €140,721 to €168,662
- Depreciation -€8,084
down €8,084 (-98.1%), from €8,244 to €160
- Gross operating margin -€6,165
down €6,165 (-2.9%), from €212,701 to €206,536
- Taxes -€5,909
down €5,909 (-38.8%), from €15,232 to €9,324
- Financial charges +€5,180
up €5,180 (+325%), from €1,595 to €6,775
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €126,160 | €300,647 | +€174,487 | +138% |
| Fixed assets | 21/28 | €11,576 | €150,000 | +€138,424 | +1,196% |
| Tangible fixed assets | 22/27 | €11,576 | - | -€11,576 | |
| Furniture and vehicles | 24 | €11,576 | - | -€11,576 | |
| Financial fixed assets | 28 | - | €150,000 | +€150,000 | |
| Current assets | 29/58 | €114,584 | €150,647 | +€36,062 | +31.5% |
| Amounts receivable within one year | 40/41 | €41,365 | €73,514 | +€32,149 | +77.7% |
| Trade receivables | 40 | €41,365 | €42,838 | +€1,473 | +3.6% |
| Other amounts receivable | 41 | - | €30,676 | +€30,676 | |
| Cash at bank and in hand | 54/58 | €72,785 | €77,133 | +€4,348 | +6.0% |
| Deferred charges and accrued income | 490/1 | €434 | - | -€434 | |
| Total equity and liabilities | 10/49 | €126,160 | €300,647 | +€174,487 | +138% |
| Equity | 10/15 | €56,526 | €10,000 | -€46,526 | -82.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €53,526 | €7,000 | -€46,526 | -86.9% |
| Distributable reserves | 133 | €53,526 | €7,000 | -€46,526 | -86.9% |
| Amounts payable | 17/49 | €69,634 | €290,647 | +€221,013 | +317% |
| Amounts payable after more than one year | 17 | €4,599 | €143,504 | +€138,905 | +3,020% |
| Financial debts | 170/4 | €4,599 | €143,504 | +€138,905 | +3,020% |
| Amounts payable within one year | 42/48 | €65,035 | €147,143 | +€82,108 | +126% |
| Current portion of amounts payable after more than one year | 42 | €7,069 | €28,461 | +€21,393 | +303% |
| Trade debts | 44 | €10,015 | €1,916 | -€8,099 | -80.9% |
| Suppliers | 440/4 | €10,015 | €1,916 | -€8,099 | -80.9% |
| Taxes, remuneration and social security | 45 | €47,664 | €51,310 | +€3,646 | +7.6% |
| Taxes | 450/3 | €28,405 | €29,121 | +€716 | +2.5% |
| Remuneration and social security | 454/9 | €19,259 | €22,189 | +€2,930 | +15.2% |
| Other amounts payable | 47/48 | €287 | €65,456 | +€65,169 | +22,700% |
| Remuneration, social security and pensions | 62 | €140,721 | €168,662 | +€27,942 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,244 | €160 | -€8,084 | -98.1% |
| Other operating charges | 640/8 | €511 | €2,782 | +€2,270 | +444% |
| Gross operating margin | 9900 | €212,701 | €206,536 | -€6,165 | -2.9% |
| Operating profit (loss) | 9901 | €63,226 | €34,932 | -€28,293 | -44.8% |
| Financial charges | 65/66B | €1,595 | €6,775 | +€5,180 | +325% |
| Recurring financial charges | 65 | €1,595 | €6,775 | +€5,180 | +325% |
| Profit (loss) for the period before taxes | 9903 | €61,631 | €28,158 | -€33,473 | -54.3% |
| Income taxes | 67/77 | €15,232 | €9,324 | -€5,909 | -38.8% |
| Profit (loss) for the period | 9904 | €46,398 | €18,834 | -€27,564 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,398 | €18,834 | -€27,564 | -59.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.