HENRUEL: 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.
HENRUEL
Largest movements
- Tangible fixed assets -€17,785
down €17,785 (-5.8%), from €307,749 to €289,965
of which Land and buildings: -€9,608
- Debts after one year -€29,411
down €29,411 (-15.2%), from €193,932 to €164,521
of which Financial debts: -€21,242
- Reserves +€22,871
up €22,871 (+29.1%), from €78,575 to €101,446
- Other operating charges +€2,014
up €2,014 (+49.8%), from €4,042 to €6,057
- Gross operating margin +€1,472
up €1,472 (+2.5%), from €57,961 to €59,433
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 | €345,362 | €333,519 | -€11,842 | -3.4% |
| Fixed assets | 21/28 | €307,749 | €289,965 | -€17,785 | -5.8% |
| Tangible fixed assets | 22/27 | €307,749 | €289,965 | -€17,785 | -5.8% |
| Land and buildings | 22 | €289,156 | €279,548 | -€9,608 | -3.3% |
| Furniture and vehicles | 24 | €18,593 | €10,416 | -€8,176 | -44.0% |
| Current assets | 29/58 | €37,612 | €43,555 | +€5,942 | +15.8% |
| Amounts receivable within one year | 40/41 | €180 | €2,610 | +€2,430 | +1,351% |
| Trade receivables | 40 | - | €2,310 | +€2,310 | |
| Other amounts receivable | 41 | €180 | €300 | +€120 | +66.8% |
| Cash at bank and in hand | 54/58 | €35,884 | €39,322 | +€3,438 | +9.6% |
| Deferred charges and accrued income | 490/1 | €1,549 | €1,623 | +€74 | +4.8% |
| Total equity and liabilities | 10/49 | €345,362 | €333,519 | -€11,842 | -3.4% |
| Equity | 10/15 | €97,175 | €120,046 | +€22,871 | +23.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €78,575 | €101,446 | +€22,871 | +29.1% |
| Distributable reserves | 133 | €78,575 | €101,446 | +€22,871 | +29.1% |
| Amounts payable | 17/49 | €248,186 | €213,473 | -€34,713 | -14.0% |
| Amounts payable after more than one year | 17 | €193,932 | €164,521 | -€29,411 | -15.2% |
| Financial debts | 170/4 | €183,018 | €161,775 | -€21,242 | -11.6% |
| Other amounts payable | 178/9 | €10,914 | €2,746 | -€8,168 | -74.8% |
| Amounts payable within one year | 42/48 | €54,191 | €48,952 | -€5,238 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €31,059 | €29,411 | -€1,648 | -5.3% |
| Trade debts | 44 | €554 | €35 | -€519 | -93.7% |
| Suppliers | 440/4 | €554 | €35 | -€519 | -93.7% |
| Taxes, remuneration and social security | 45 | €6,710 | €5,832 | -€878 | -13.1% |
| Taxes | 450/3 | €6,710 | €5,832 | -€878 | -13.1% |
| Other amounts payable | 47/48 | €15,868 | €13,675 | -€2,194 | -13.8% |
| Accrued charges and deferred income | 492/3 | €64 | - | -€64 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,834 | €17,785 | -€49 | -0.3% |
| Other operating charges | 640/8 | €4,042 | €6,057 | +€2,014 | +49.8% |
| Gross operating margin | 9900 | €57,961 | €59,433 | +€1,472 | +2.5% |
| Operating profit (loss) | 9901 | €36,085 | €35,591 | -€494 | -1.4% |
| Financial charges | 65/66B | €3,090 | €2,742 | -€347 | -11.2% |
| Recurring financial charges | 65 | €3,090 | €2,742 | -€347 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €32,995 | €32,849 | -€146 | -0.4% |
| Income taxes | 67/77 | €10,224 | €9,978 | -€246 | -2.4% |
| Profit (loss) for the period | 9904 | €22,771 | €22,871 | +€100 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,771 | €22,871 | +€100 | +0.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.