HENRY: 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
HENRY
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€198,527
2024 · €289,020-€90,493
Equity
€2.0m
2024 · €1.9m+€198,527
Cash
€1.4m
2024 · €1.0m+€309,186
Balance sheet total
€11.2m
2024 · €10.1m+€1.1m
Largest movements
Assets
- Cash +€309,186
up €309,186 (+29.5%), from €1.0m to €1.4m
mainly Short-term financial debts (+€1.3m) and Depreciation (+€202,696)
- Tangible fixed assets +€285,157
up €285,157 (+26.5%), from €1.1m to €1.4m
of which Furniture and vehicles: +€242,759
- Stocks and contracts +€177,751
up €177,751 (+4.1%), from €4.3m to €4.5m
- Receivables after one year +€158,710
up €158,710 (+15.1%), from €1.1m to €1.2m
- Receivables within one year +€140,885
up €140,885 (+5.5%), from €2.6m to €2.7m
of which Trade receivables: +€247,414
Equity and liabilities
- Short-term financial debts +€1.3m
up €1.3m (+29.9%), from €4.5m to €5.8m
of which Credit institutions: +€1.0m
- Debts after one year -€367,582
down €367,582 (-42.0%), from €875,507 to €507,925
of which Financial debts: -€203,422
- Profit (loss) carried forward +€198,527
up €198,527 (+17.6%), from €1.1m to €1.3m
Income statement
- Goods and materials -€2.0m
down €2.0m (-5.4%), from €37.3m to €35.3m
of which Purchases: -€2.5m
- Turnover -€1.6m
down €1.6m (-3.7%), from €43.1m to €41.5m
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
€289,020
Turnover
-€1.6m
Other operating income
-€1,421
Goods and materials
+€2.0m
Services and other goods
-€313,602
Staff costs
-€123,721
Depreciation
-€7,592
Write-downs
-€124,310
Other operating charges
-€24,351
Other operating items
-€78,470
Financial income
-€10,430
Financial charges
+€166,439
Taxes
+€34,422
Result 2025
€198,527
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.
From operations
-€154,319
Investment
-€481,398
Financing
+€944,904
Cash 2024
€1.0m
From operations (derived)
-€154,319
Net result for the year
+€198,527
Depreciation
+€202,696
Receivables after one year
-€158,710
Stocks and contracts
-€177,751
Receivables within one year
-€140,885
Smaller working-capital items
-€5,281
Trade debts
+€10,507
Tax, wage and social debts
-€50,222
Advances received
-€33,199
Investment (derived)
-€481,398
Investment in fixed assets (net)
-€481,398
Financing
+€944,904
Debts after one year
-€367,582
Current portion of long-term debt
-€29,159
Short-term financial debts
+€1.3m
Cash 2025
€1.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,101,965 | €11,169,985 | +€1.1m | +10.6% |
| Fixed assets | 21/28 | €1,083,574 | €1,362,276 | +€278,702 | +25.7% |
| Intangible fixed assets | 21 | €7,618 | €1,163 | -€6,455 | -84.7% |
| Tangible fixed assets | 22/27 | €1,074,597 | €1,359,754 | +€285,157 | +26.5% |
| Plant, machinery and equipment | 23 | €108,491 | €113,380 | +€4,889 | +4.5% |
| Furniture and vehicles | 24 | €253,117 | €495,875 | +€242,759 | +95.9% |
| Other tangible fixed assets | 26 | €712,990 | €750,499 | +€37,509 | +5.3% |
| Financial fixed assets | 28 | €1,359 | €1,359 | = | 0.0% |
| Other financial fixed assets | 284/8 | €1,359 | €1,359 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,359 | €1,359 | = | 0.0% |
| Current assets | 29/58 | €9,018,391 | €9,807,709 | +€789,318 | +8.8% |
| Amounts receivable after more than one year | 29 | €1,051,922 | €1,210,633 | +€158,710 | +15.1% |
| Other amounts receivable | 291 | €1,051,922 | €1,210,633 | +€158,710 | +15.1% |
| Stocks and contracts in progress | 3 | €4,330,679 | €4,508,431 | +€177,751 | +4.1% |
| Stocks | 30/36 | €4,330,679 | €4,508,431 | +€177,751 | +4.1% |
| Work in progress | 32 | €129,915 | €119,722 | -€10,193 | -7.8% |
| Goods purchased for resale | 34 | €4,200,764 | €4,388,708 | +€187,944 | +4.5% |
| Amounts receivable within one year | 40/41 | €2,575,446 | €2,716,331 | +€140,885 | +5.5% |
| Trade receivables | 40 | €2,399,224 | €2,646,639 | +€247,414 | +10.3% |
| Other amounts receivable | 41 | €176,222 | €69,692 | -€106,529 | -60.5% |
| Cash at bank and in hand | 54/58 | €1,049,121 | €1,358,307 | +€309,186 | +29.5% |
| Deferred charges and accrued income | 490/1 | €11,223 | €14,007 | +€2,784 | +24.8% |
| Total equity and liabilities | 10/49 | €10,101,965 | €11,169,985 | +€1.1m | +10.6% |
| Equity | 10/15 | €1,850,455 | €2,048,982 | +€198,527 | +10.7% |
| Contributions | 10/11 | €657,300 | €657,300 | = | 0.0% |
| Capital | 10 | €657,300 | €657,300 | = | 0.0% |
| Issued capital | 100 | €657,300 | €657,300 | = | 0.0% |
| Reserves | 13 | €65,730 | €65,730 | = | 0.0% |
| Non-distributable reserves | 130/1 | €65,730 | €65,730 | = | 0.0% |
| Legal reserve | 130 | €65,730 | €65,730 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,127,425 | €1,325,952 | +€198,527 | +17.6% |
| Amounts payable | 17/49 | €8,251,510 | €9,121,003 | +€869,493 | +10.5% |
| Amounts payable after more than one year | 17 | €875,507 | €507,925 | -€367,582 | -42.0% |
| Financial debts | 170/4 | €667,180 | €463,758 | -€203,422 | -30.5% |
| Credit institutions | 173 | €667,180 | €463,758 | -€203,422 | -30.5% |
| Other amounts payable | 178/9 | €208,327 | €44,167 | -€164,160 | -78.8% |
| Amounts payable within one year | 42/48 | €7,371,039 | €8,610,611 | +€1.2m | +16.8% |
| Current portion of amounts payable after more than one year | 42 | €240,571 | €211,413 | -€29,159 | -12.1% |
| Financial debts | 43 | €4,480,705 | €5,822,350 | +€1.3m | +29.9% |
| Credit institutions | 430/8 | €4,313,305 | €5,337,570 | +€1.0m | +23.7% |
| Other loans | 439 | €167,400 | €484,780 | +€317,380 | +189.6% |
| Trade debts | 44 | €1,338,974 | €1,349,481 | +€10,507 | +0.8% |
| Suppliers | 440/4 | €1,338,974 | €1,349,481 | +€10,507 | +0.8% |
| Advances received on contracts in progress | 46 | €658,435 | €625,236 | -€33,199 | -5.0% |
| Taxes, remuneration and social security | 45 | €652,354 | €602,133 | -€50,222 | -7.7% |
| Taxes | 450/3 | €264,947 | €265,554 | +€607 | +0.2% |
| Remuneration and social security | 454/9 | €387,407 | €336,579 | -€50,829 | -13.1% |
| Accrued charges and deferred income | 492/3 | €4,963 | €2,467 | -€2,497 | -50.3% |
| Operating income | 70/76A | €43,403,844 | €41,699,633 | -€1.7m | -3.9% |
| Turnover | 70 | €43,057,722 | €41,453,838 | -€1.6m | -3.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €88,591 | -€10,193 | -€98,783 | |
| Other operating income | 74 | €257,408 | €255,987 | -€1,421 | -0.6% |
| Non-recurring operating income | 76A | €124 | - | -€124 | |
| Operating charges | 60/66A | €42,417,384 | €40,994,096 | -€1.4m | -3.4% |
| Goods for resale, raw materials and consumables | 60 | €37,300,153 | €35,303,726 | -€2.0m | -5.4% |
| Purchases | 600/8 | €38,046,856 | €35,511,893 | -€2.5m | -6.7% |
| Change in stocks: decrease (increase) | 609 | -€746,703 | -€208,167 | +€538,536 | +72.1% |
| Services and other goods | 61 | €2,223,795 | €2,537,397 | +€313,602 | +14.1% |
| Remuneration, social security and pensions | 62 | €2,695,023 | €2,818,744 | +€123,721 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195,104 | €202,696 | +€7,592 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€94,519 | €29,791 | +€124,310 | |
| Other operating charges | 640/8 | €74,878 | €99,230 | +€24,351 | +32.5% |
| Non-recurring operating charges | 66A | €22,948 | €2,511 | -€20,437 | -89.1% |
| Operating profit (loss) | 9901 | €986,460 | €705,537 | -€280,923 | -28.5% |
| Financial income | 75/76B | €34,051 | €23,620 | -€10,430 | -30.6% |
| Recurring financial income | 75 | €34,051 | €22,870 | -€11,180 | -32.8% |
| Income from current assets | 751 | €34,051 | €22,870 | -€11,180 | -32.8% |
| Non-recurring financial income | 76B | - | €750 | +€750 | |
| Financial charges | 65/66B | €592,133 | €425,694 | -€166,439 | -28.1% |
| Recurring financial charges | 65 | €568,637 | €424,123 | -€144,514 | -25.4% |
| Debt charges | 650 | €557,011 | €414,817 | -€142,193 | -25.5% |
| Other financial charges | 652/9 | €11,626 | €9,306 | -€2,320 | -20.0% |
| Non-recurring financial charges | 66B | €23,496 | €1,571 | -€21,925 | -93.3% |
| Profit (loss) for the period before taxes | 9903 | €428,378 | €303,463 | -€124,915 | -29.2% |
| Income taxes | 67/77 | €139,358 | €104,936 | -€34,422 | -24.7% |
| Taxes | 670/3 | €139,358 | €104,936 | -€34,422 | -24.7% |
| Profit (loss) for the period | 9904 | €289,020 | €198,527 | -€90,493 | -31.3% |
| Profit (loss) for the period to be appropriated | 9905 | €289,020 | €198,527 | -€90,493 | -31.3% |
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 11 October 2026 via checked.be.