HENY: 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.
HENY
Largest movements
- Cash -€108,613
down €108,613 (-53.5%), from €203,182 to €94,569
mainly Other debts (-€72,028) and Trade debts (-€32,893)
- Receivables within one year +€8,843
up €8,843 (+172.3%), from €5,133 to €13,976
of which Trade receivables: +€8,250
- Stocks and contracts -€8,040
down €8,040 (-1.8%), from €446,714 to €438,674
- Other debts -€72,028
down €72,028 (-23.7%), from €303,356 to €231,327
- Trade debts -€32,893
down €32,893 (-77.2%), from €42,611 to €9,718
- Reserves -€12,272
down €12,272 (-4.8%), from €257,663 to €245,391
of which Distributable reserves: -€12,272
- Tax, wage and social debts +€10,225
up €10,225 (+23.8%), from €42,939 to €53,164
of which Taxes: +€8,976
- Gross operating margin -€21,323
down €21,323 (-11.1%), from €192,078 to €170,755
- Write-downs +€20,846
new in 2025: €20,846
- Taxes -€12,824
down €12,824 (-59.7%), from €21,466 to €8,642
- Staff costs +€3,466
up €3,466 (+3.0%), from €114,406 to €117,872
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 | €708,569 | €601,600 | -€106,969 | -15.1% |
| Fixed assets | 21/28 | €50,304 | €49,572 | -€731 | -1.5% |
| Tangible fixed assets | 22/27 | €43,875 | €43,143 | -€731 | -1.7% |
| Land and buildings | 22 | €43,217 | €42,809 | -€408 | -0.9% |
| Furniture and vehicles | 24 | €658 | €334 | -€324 | -49.3% |
| Financial fixed assets | 28 | €6,429 | €6,429 | = | 0.0% |
| Current assets | 29/58 | €658,266 | €552,028 | -€106,238 | -16.1% |
| Stocks and contracts in progress | 3 | €446,714 | €438,674 | -€8,040 | -1.8% |
| Stocks | 30/36 | €446,714 | €438,674 | -€8,040 | -1.8% |
| Amounts receivable within one year | 40/41 | €5,133 | €13,976 | +€8,843 | +172.3% |
| Trade receivables | 40 | €5,133 | €13,383 | +€8,250 | +160.7% |
| Other amounts receivable | 41 | - | €593 | +€593 | |
| Cash at bank and in hand | 54/58 | €203,182 | €94,569 | -€108,613 | -53.5% |
| Deferred charges and accrued income | 490/1 | €3,236 | €4,809 | +€1,573 | +48.6% |
| Total equity and liabilities | 10/49 | €708,569 | €601,600 | -€106,969 | -15.1% |
| Equity | 10/15 | €319,663 | €307,391 | -€12,272 | -3.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €257,663 | €245,391 | -€12,272 | -4.8% |
| Non-distributable reserves | 130/1 | €4,484 | €4,484 | = | 0.0% |
| Legal reserve | 130 | €4,484 | €4,484 | = | 0.0% |
| Distributable reserves | 133 | €253,179 | €240,907 | -€12,272 | -4.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €388,906 | €294,210 | -€94,697 | -24.3% |
| Amounts payable within one year | 42/48 | €388,906 | €294,210 | -€94,697 | -24.3% |
| Trade debts | 44 | €42,611 | €9,718 | -€32,893 | -77.2% |
| Suppliers | 440/4 | €42,611 | €9,718 | -€32,893 | -77.2% |
| Taxes, remuneration and social security | 45 | €42,939 | €53,164 | +€10,225 | +23.8% |
| Taxes | 450/3 | €19,372 | €28,348 | +€8,976 | +46.3% |
| Remuneration and social security | 454/9 | €23,568 | €24,817 | +€1,249 | +5.3% |
| Other amounts payable | 47/48 | €303,356 | €231,327 | -€72,028 | -23.7% |
| Remuneration, social security and pensions | 62 | €114,406 | €117,872 | +€3,466 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €996 | €731 | -€264 | -26.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €20,846 | +€20,846 | |
| Other operating charges | 640/8 | €6,084 | €6,126 | +€42 | +0.7% |
| Gross operating margin | 9900 | €192,078 | €170,755 | -€21,323 | -11.1% |
| Operating profit (loss) | 9901 | €70,593 | €25,180 | -€45,413 | -64.3% |
| Financial income | 75/76B | €3,842 | €2,339 | -€1,502 | -39.1% |
| Recurring financial income | 75 | €3,842 | €2,339 | -€1,502 | -39.1% |
| Financial charges | 65/66B | €1,111 | €233 | -€878 | -79.0% |
| Recurring financial charges | 65 | €1,111 | €233 | -€878 | -79.0% |
| Profit (loss) for the period before taxes | 9903 | €73,323 | €27,286 | -€46,037 | -62.8% |
| Income taxes | 67/77 | €21,466 | €8,642 | -€12,824 | -59.7% |
| Profit (loss) for the period | 9904 | €51,857 | €18,644 | -€33,213 | -64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,857 | €18,644 | -€33,213 | -64.0% |
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 7 October 2026 via checked.be.