HENRY: what changed
Two fiscal 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.
HENRY
Largest movements
- Cash +€40,861
up €40,861 (+178.8%), from €22,848 to €63,709
mainly Net result for the year (+€33,373) and Stocks and contracts (+€17,122)
- Stocks and contracts -€17,122
no longer reported in 2025 (was €17,122)
- Receivables within one year +€9,416
up €9,416 (+39.3%), from €23,932 to €33,348
of which Trade receivables: +€10,296
- Deferred charges and accrued income -€1,697
down €1,697 (-20.0%), from €8,500 to €6,803
- Profit (loss) carried forward +€18,373
up €18,373 (+52.5%), from €34,981 to €53,355
- Reserves +€15,000
up €15,000 (+806.5%), from €1,860 to €16,860
of which Distributable reserves: +€16,860
- Trade debts -€3,590
down €3,590 (-38.5%), from €9,328 to €5,738
- Tax, wage and social debts +€3,254
up €3,254 (+68.6%), from €4,743 to €7,998
of which Taxes: +€3,551
- Debts after one year -€2,526
down €2,526 (-11.4%), from €22,191 to €19,665
- Staff costs -€32,988
down €32,988 (-27.6%), from €119,313 to €86,325
- Depreciation -€13,689
down €13,689 (-78.0%), from €17,550 to €3,861
- Gross operating margin +€2,928
up €2,928 (+2.3%), from €125,438 to €128,365
- Other operating charges -€1,714
down €1,714 (-30.4%), from €5,631 to €3,917
- Taxes +€1,500
new in 2025: €1,500
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 | €79,304 | €109,815 | +€30,511 | +38.5% |
| Fixed assets | 21/28 | €6,901 | €5,954 | -€947 | -13.7% |
| Tangible fixed assets | 22/27 | €6,442 | €5,495 | -€947 | -14.7% |
| Plant, machinery and equipment | 23 | €6,442 | €5,185 | -€1,257 | -19.5% |
| Furniture and vehicles | 24 | €0 | €310 | +€310 | |
| Financial fixed assets | 28 | €460 | €460 | = | 0.0% |
| Current assets | 29/58 | €72,402 | €103,861 | +€31,459 | +43.4% |
| Stocks and contracts in progress | 3 | €17,122 | - | -€17,122 | |
| Stocks | 30/36 | €17,122 | - | -€17,122 | |
| Amounts receivable within one year | 40/41 | €23,932 | €33,348 | +€9,416 | +39.3% |
| Trade receivables | 40 | €21,782 | €32,079 | +€10,296 | +47.3% |
| Other amounts receivable | 41 | €2,149 | €1,269 | -€880 | -41.0% |
| Cash at bank and in hand | 54/58 | €22,848 | €63,709 | +€40,861 | +178.8% |
| Deferred charges and accrued income | 490/1 | €8,500 | €6,803 | -€1,697 | -20.0% |
| Total equity and liabilities | 10/49 | €79,304 | €109,815 | +€30,511 | +38.5% |
| Equity | 10/15 | €43,041 | €76,415 | +€33,373 | +77.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €16,860 | +€15,000 | +806.5% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €16,860 | +€16,860 | |
| Profit (loss) carried forward | 14 | €34,981 | €53,355 | +€18,373 | +52.5% |
| Amounts payable | 17/49 | €36,262 | €33,401 | -€2,862 | -7.9% |
| Amounts payable after more than one year | 17 | €22,191 | €19,665 | -€2,526 | -11.4% |
| Financial debts | 170/4 | €22,191 | €19,665 | -€2,526 | -11.4% |
| Amounts payable within one year | 42/48 | €14,071 | €13,736 | -€336 | -2.4% |
| Trade debts | 44 | €9,328 | €5,738 | -€3,590 | -38.5% |
| Suppliers | 440/4 | €9,328 | €5,738 | -€3,590 | -38.5% |
| Taxes, remuneration and social security | 45 | €4,743 | €7,998 | +€3,254 | +68.6% |
| Taxes | 450/3 | - | €3,551 | +€3,551 | |
| Remuneration and social security | 454/9 | €4,743 | €4,446 | -€297 | -6.3% |
| Remuneration, social security and pensions | 62 | €119,313 | €86,325 | -€32,988 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,550 | €3,861 | -€13,689 | -78.0% |
| Other operating charges | 640/8 | €5,631 | €3,917 | -€1,714 | -30.4% |
| Gross operating margin | 9900 | €125,438 | €128,365 | +€2,928 | +2.3% |
| Operating profit (loss) | 9901 | -€17,056 | €34,263 | +€51,319 | |
| Financial income | 75/76B | €36 | €1,500 | +€1,464 | +4027.7% |
| Recurring financial income | 75 | €36 | €1,500 | +€1,464 | +4027.7% |
| Non-recurring financial income | 76B | - | €1,500 | +€1,500 | |
| Financial charges | 65/66B | €1,048 | €889 | -€159 | -15.1% |
| Recurring financial charges | 65 | €1,048 | €889 | -€159 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | -€18,068 | €34,873 | +€52,941 | |
| Income taxes | 67/77 | - | €1,500 | +€1,500 | |
| Profit (loss) for the period | 9904 | -€18,068 | €33,373 | +€51,441 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,068 | €33,373 | +€51,441 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.