Henry Bath: 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 Bath
Largest movements
- Financial fixed assets -€152,328
down €152,328 (-39.3%), from €387,228 to €234,900
- Receivables within one year -€87,349
down €87,349 (-29.9%), from €291,956 to €204,608
of which Other amounts receivable: -€87,909
- Cash -€11,226
down €11,226 (-50.5%), from €22,221 to €10,995
mainly Trade debts (-€121,698) and Net result for the year (-€120,445)
- Trade debts -€121,698
down €121,698 (-96.2%), from €126,542 to €4,843
- Profit (loss) carried forward -€120,445
down €120,445 (-8.4%), from -€1.4m to -€1.6m
- Accrued charges and deferred income -€8,661
down €8,661 (-100.0%), from €8,661 to €0
- Financial income -€216,224
down €216,224 (-99.0%), from €218,429 to €2,205
- Gross operating margin +€158,758
up €158,758 (+80.1%), from -€198,079 to -€39,321
- Staff costs -€90,419
down €90,419 (-100.0%), from €90,419 to €0
- Financial charges +€83,830
up €83,830 (+1726.1%), from €4,857 to €88,687
- Provisions -€16,176
down €16,176 (-100.0%), from €16,176 to €0
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 | €701,405 | €450,503 | -€250,902 | -35.8% |
| Fixed assets | 21/28 | €387,228 | €234,900 | -€152,328 | -39.3% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €387,228 | €234,900 | -€152,328 | -39.3% |
| Current assets | 29/58 | €314,177 | €215,603 | -€98,575 | -31.4% |
| Amounts receivable within one year | 40/41 | €291,956 | €204,608 | -€87,349 | -29.9% |
| Trade receivables | 40 | €0 | €560 | +€560 | |
| Other amounts receivable | 41 | €291,956 | €204,048 | -€87,909 | -30.1% |
| Cash at bank and in hand | 54/58 | €22,221 | €10,995 | -€11,226 | -50.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €701,405 | €450,503 | -€250,902 | -35.8% |
| Equity | 10/15 | €566,105 | €445,660 | -€120,445 | -21.3% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,433,895 | -€1,554,340 | -€120,445 | -8.4% |
| Amounts payable | 17/49 | €135,300 | €4,843 | -€130,457 | -96.4% |
| Amounts payable within one year | 42/48 | €126,639 | €4,843 | -€121,796 | -96.2% |
| Trade debts | 44 | €126,542 | €4,843 | -€121,698 | -96.2% |
| Suppliers | 440/4 | €126,542 | €4,843 | -€121,698 | -96.2% |
| Taxes, remuneration and social security | 45 | €97 | €0 | -€97 | -100.0% |
| Taxes | 450/3 | €97 | €0 | -€97 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €8,661 | €0 | -€8,661 | -100.0% |
| Non-recurring operating income | 76A | €41,775 | €0 | -€41,775 | -100.0% |
| Remuneration, social security and pensions | 62 | €90,419 | €0 | -€90,419 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€5,357 | -€5,357 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €16,176 | €0 | -€16,176 | -100.0% |
| Other operating charges | 640/8 | €960 | €0 | -€960 | -100.0% |
| Gross operating margin | 9900 | -€198,079 | -€39,321 | +€158,758 | +80.1% |
| Operating profit (loss) | 9901 | -€305,635 | -€33,964 | +€271,671 | +88.9% |
| Financial income | 75/76B | €218,429 | €2,205 | -€216,224 | -99.0% |
| Recurring financial income | 75 | €218,429 | €2,205 | -€216,224 | -99.0% |
| Financial charges | 65/66B | €4,857 | €88,687 | +€83,830 | +1726.1% |
| Recurring financial charges | 65 | €4,857 | €88,687 | +€83,830 | +1726.1% |
| Profit (loss) for the period before taxes | 9903 | -€92,063 | -€120,445 | -€28,383 | -30.8% |
| Income taxes | 67/77 | €17 | €0 | -€17 | -100.0% |
| Profit (loss) for the period | 9904 | -€92,080 | -€120,445 | -€28,366 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€92,080 | -€120,445 | -€28,366 | -30.8% |
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 8 October 2026 via checked.be.