HENS: 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.
What changed
HENS
NACE 43.120, Site preparation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €816,665+€651,981
Equity
€10.0m
2024 · €8.5m+€1.5m
Cash
€5.5m
2024 · €3.2m+€2.3m
Balance sheet total
€31.6m
2024 · €29.7m+€1.9m
Largest movements
Assets
- Cash +€2.3m
up €2.3m (+71.4%), from €3.2m to €5.5m
mainly Depreciation (+€2.8m) and Receivables within one year (+€1.8m)
- Receivables within one year -€1.8m
down €1.8m (-13.0%), from €13.6m to €11.8m
of which Trade receivables: -€1.6m
- Tangible fixed assets +€954,427
up €954,427 (+9.1%), from €10.5m to €11.4m
of which Land and buildings: +€2.7m
- Deferred charges and accrued income +€351,627
up €351,627 (+193.0%), from €182,150 to €533,777
Equity and liabilities
- Other debts +€1.7m
up €1.7m (+54.0%), from €3.1m to €4.7m
- Trade debts -€1.6m
down €1.6m (-15.0%), from €10.7m to €9.1m
- Reserves +€1.5m
up €1.5m (+17.8%), from €8.3m to €9.7m
of which Distributable reserves: +€883,181
- Debts after one year +€1.1m
up €1.1m (+45.3%), from €2.5m to €3.6m
- Tax, wage and social debts -€725,662
down €725,662 (-54.0%), from €1.3m to €619,096
of which Taxes: -€705,630
Income statement
- Turnover +€2.0m
up €2.0m (+3.9%), from €51.9m to €54.0m
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
€816,665
Turnover
+€2.0m
Other operating income
-€350,359
Goods and materials
-€140,292
Services and other goods
+€243,604
Staff costs
-€121,969
Depreciation
-€259,117
Write-downs
-€104,722
Provisions
-€115,053
Other operating charges
+€92,667
Other operating items
-€254,128
Financial income
-€58,410
Financial charges
-€157,196
Taxes
-€168,057
Deferred taxes and other
-€3,257
Result 2025
€1.5m
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
+€5.2m
Investment
-€3.8m
Financing
+€842,246
Cash 2024
€3.2m
From operations (derived)
+€5.2m
Net result for the year
+€1.5m
Depreciation
+€2.8m
Receivables after one year
-€27,989
Receivables within one year
+€1.8m
Deferred charges and accrued income
-€351,627
Provisions
+€64,625
Trade debts
-€1.6m
Tax, wage and social debts
-€725,662
Advances received
-€39,629
Other debts
+€1.7m
Accrued charges and deferred income
+€213,722
Investment (derived)
-€3.8m
Investment in fixed assets (net)
-€3.8m
Financing
+€842,246
Debts after one year
+€1.1m
Current portion of long-term debt
-€535,855
Short-term financial debts
+€249,861
Cash 2025
€5.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,675,293 | €31,560,658 | +€1.9m | +6.4% |
| Fixed assets | 21/28 | €12,661,483 | €13,644,516 | +€983,033 | +7.8% |
| Tangible fixed assets | 22/27 | €10,476,494 | €11,430,922 | +€954,427 | +9.1% |
| Land and buildings | 22 | €3,128,489 | €5,798,116 | +€2.7m | +85.3% |
| Plant, machinery and equipment | 23 | €2,907,612 | €2,624,423 | -€283,189 | -9.7% |
| Furniture and vehicles | 24 | €621,779 | €620,051 | -€1,728 | -0.3% |
| Leasing and similar rights | 25 | €3,818,614 | €2,388,332 | -€1.4m | -37.5% |
| Financial fixed assets | 28 | €2,184,988 | €2,213,594 | +€28,606 | +1.3% |
| Affiliated companies | 280/1 | €1,343,022 | €1,343,022 | = | 0.0% |
| Participating interests | 280 | €1,343,022 | €1,343,022 | = | 0.0% |
| Other financial fixed assets | 284/8 | €841,966 | €870,572 | +€28,606 | +3.4% |
| Shares | 284 | €65,000 | €65,425 | +€425 | +0.7% |
| Amounts receivable and cash guarantees | 285/8 | €776,966 | €805,147 | +€28,181 | +3.6% |
| Current assets | 29/58 | €17,013,811 | €17,916,142 | +€902,331 | +5.3% |
| Amounts receivable after more than one year | 29 | €42,000 | €69,989 | +€27,989 | +66.6% |
| Other amounts receivable | 291 | €42,000 | €69,989 | +€27,989 | +66.6% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €13,584,543 | €11,817,312 | -€1.8m | -13.0% |
| Trade receivables | 40 | €12,963,125 | €11,319,298 | -€1.6m | -12.7% |
| Other amounts receivable | 41 | €621,418 | €498,014 | -€123,404 | -19.9% |
| Cash at bank and in hand | 54/58 | €3,205,118 | €5,495,064 | +€2.3m | +71.4% |
| Deferred charges and accrued income | 490/1 | €182,150 | €533,777 | +€351,627 | +193.0% |
| Total equity and liabilities | 10/49 | €29,675,293 | €31,560,658 | +€1.9m | +6.4% |
| Equity | 10/15 | €8,507,403 | €9,976,049 | +€1.5m | +17.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €8,257,403 | €9,726,049 | +€1.5m | +17.8% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €476,737 | €1,062,202 | +€585,465 | +122.8% |
| Distributable reserves | 133 | €7,755,666 | €8,638,847 | +€883,181 | +11.4% |
| Provisions and deferred taxes | 16 | €511,813 | €576,438 | +€64,625 | +12.6% |
| Provisions for liabilities and charges | 160/5 | €353,880 | €468,933 | +€115,053 | +32.5% |
| Environmental obligations | 163 | €353,880 | €468,933 | +€115,053 | +32.5% |
| Deferred taxes | 168 | €157,933 | €107,505 | -€50,428 | -31.9% |
| Amounts payable | 17/49 | €20,656,077 | €21,008,171 | +€352,093 | +1.7% |
| Amounts payable after more than one year | 17 | €2,489,005 | €3,617,244 | +€1.1m | +45.3% |
| Financial debts | 170/4 | €2,489,005 | €3,617,244 | +€1.1m | +45.3% |
| Leasing and similar obligations | 172 | €910,336 | €8,690 | -€901,646 | -99.0% |
| Credit institutions | 173 | €1,578,669 | €3,608,554 | +€2.0m | +128.6% |
| Amounts payable within one year | 42/48 | €18,166,963 | €17,177,095 | -€989,868 | -5.4% |
| Current portion of amounts payable after more than one year | 42 | €2,686,265 | €2,150,409 | -€535,855 | -19.9% |
| Financial debts | 43 | €208,922 | €458,784 | +€249,861 | +119.6% |
| Credit institutions | 430/8 | €208,922 | €458,784 | +€249,861 | +119.6% |
| Trade debts | 44 | €10,697,396 | €9,096,986 | -€1.6m | -15.0% |
| Suppliers | 440/4 | €10,697,396 | €9,096,986 | -€1.6m | -15.0% |
| Advances received on contracts in progress | 46 | €150,000 | €110,371 | -€39,629 | -26.4% |
| Taxes, remuneration and social security | 45 | €1,344,757 | €619,096 | -€725,662 | -54.0% |
| Taxes | 450/3 | €1,029,094 | €323,464 | -€705,630 | -68.6% |
| Remuneration and social security | 454/9 | €315,663 | €295,632 | -€20,032 | -6.3% |
| Other amounts payable | 47/48 | €3,079,622 | €4,741,449 | +€1.7m | +54.0% |
| Accrued charges and deferred income | 492/3 | €110 | €213,832 | +€213,722 | +194895.3% |
| Operating income | 70/76A | €53,727,698 | €55,579,853 | +€1.9m | +3.4% |
| Turnover | 70 | €51,938,484 | €53,986,755 | +€2.0m | +3.9% |
| Other operating income | 74 | €1,591,146 | €1,240,787 | -€350,359 | -22.0% |
| Non-recurring operating income | 76A | €198,068 | €352,311 | +€154,244 | +77.9% |
| Operating charges | 60/66A | €52,224,294 | €53,037,549 | +€813,255 | +1.6% |
| Goods for resale, raw materials and consumables | 60 | €34,866,587 | €35,006,879 | +€140,292 | +0.4% |
| Purchases | 600/8 | €34,866,587 | €35,006,879 | +€140,292 | +0.4% |
| Services and other goods | 61 | €7,717,247 | €7,473,643 | -€243,604 | -3.2% |
| Remuneration, social security and pensions | 62 | €6,894,103 | €7,016,072 | +€121,969 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,543,317 | €2,802,434 | +€259,117 | +10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €104,722 | +€104,722 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €115,053 | +€115,053 | |
| Other operating charges | 640/8 | €203,040 | €110,373 | -€92,667 | -45.6% |
| Non-recurring operating charges | 66A | - | €408,372 | +€408,372 | |
| Operating profit (loss) | 9901 | €1,503,404 | €2,542,304 | +€1.0m | +69.1% |
| Financial income | 75/76B | €77,161 | €18,751 | -€58,410 | -75.7% |
| Recurring financial income | 75 | €77,161 | €18,751 | -€58,410 | -75.7% |
| Income from financial fixed assets | 750 | €72,391 | €15,781 | -€56,609 | -78.2% |
| Income from current assets | 751 | €1,829 | €208 | -€1,622 | -88.6% |
| Other financial income | 752/9 | €2,941 | €2,762 | -€179 | -6.1% |
| Financial charges | 65/66B | €421,473 | €578,668 | +€157,196 | +37.3% |
| Recurring financial charges | 65 | €421,473 | €578,668 | +€157,196 | +37.3% |
| Debt charges | 650 | €385,945 | €339,540 | -€46,405 | -12.0% |
| Other financial charges | 652/9 | €35,528 | €239,128 | +€203,600 | +573.1% |
| Profit (loss) for the period before taxes | 9903 | €1,159,092 | €1,982,387 | +€823,295 | +71.0% |
| Transfer from deferred taxes | 780 | €53,685 | €50,428 | -€3,257 | -6.1% |
| Income taxes | 67/77 | €396,112 | €564,169 | +€168,057 | +42.4% |
| Taxes | 670/3 | €435,422 | €576,514 | +€141,092 | +32.4% |
| Tax adjustments and reversals of tax provisions | 77 | €39,310 | €12,345 | -€26,965 | -68.6% |
| Profit (loss) for the period | 9904 | €816,665 | €1,468,646 | +€651,981 | +79.8% |
| Transfer from tax-exempt reserves | 789 | €161,056 | €151,285 | -€9,772 | -6.1% |
| Transfer to tax-exempt reserves | 689 | - | €736,750 | +€736,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €977,722 | €883,181 | -€94,541 | -9.7% |
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 1 October 2026 via checked.be.