HICKENDORF: 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.
HICKENDORF
Largest movements
- Current investments +€314,249
up €314,249 (+47.7%), from €659,245 to €973,494
- Tangible fixed assets -€86,506
down €86,506 (-6.3%), from €1.4m to €1.3m
- Cash -€79,343
down €79,343 (-41.1%), from €192,818 to €113,475
mainly Current investments (-€314,249) and Debts after one year (-€30,860)
- Receivables after one year -€60,000
no longer reported in 2025 (was €60,000)
- Receivables within one year -€27,889
down €27,889 (-90.0%), from €30,978 to €3,089
of which Other amounts receivable: -€27,110
- Reserves +€69,546
up €69,546 (+4.2%), from €1.7m to €1.7m
of which Distributable reserves: +€99,011
- Debts after one year -€30,860
down €30,860 (-55.4%), from €55,665 to €24,805
- Other debts +€24,274
up €24,274 (+190.5%), from €12,745 to €37,019
- Gross operating margin +€32,061
up €32,061 (+17.8%), from €180,036 to €212,097
- Taxes +€10,527
up €10,527 (+46.5%), from €22,616 to €33,142
- Financial income +€5,163
up €5,163 (+42.6%), from €12,112 to €17,275
- Financial charges +€3,349
up €3,349 (+123.7%), from €2,707 to €6,056
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 | €2,322,101 | €2,382,020 | +€59,919 | +2.6% |
| Fixed assets | 21/28 | €1,376,781 | €1,290,275 | -€86,506 | -6.3% |
| Tangible fixed assets | 22/27 | €1,376,781 | €1,290,275 | -€86,506 | -6.3% |
| Other tangible fixed assets | 26 | €1,376,781 | €1,290,275 | -€86,506 | -6.3% |
| Current assets | 29/58 | €945,321 | €1,091,745 | +€146,424 | +15.5% |
| Amounts receivable after more than one year | 29 | €60,000 | - | -€60,000 | |
| Other amounts receivable | 291 | €60,000 | - | -€60,000 | |
| Amounts receivable within one year | 40/41 | €30,978 | €3,089 | -€27,889 | -90.0% |
| Trade receivables | 40 | €3,450 | €2,671 | -€779 | -22.6% |
| Other amounts receivable | 41 | €27,528 | €419 | -€27,110 | -98.5% |
| Current investments | 50/53 | €659,245 | €973,494 | +€314,249 | +47.7% |
| Cash at bank and in hand | 54/58 | €192,818 | €113,475 | -€79,343 | -41.1% |
| Deferred charges and accrued income | 490/1 | €2,279 | €1,686 | -€593 | -26.0% |
| Total equity and liabilities | 10/49 | €2,322,101 | €2,382,020 | +€59,919 | +2.6% |
| Equity | 10/15 | €2,227,057 | €2,296,603 | +€69,546 | +3.1% |
| Contributions | 10/11 | €561,500 | €561,500 | = | 0.0% |
| Capital | 10 | €561,500 | - | -€561,500 | |
| Issued capital | 100 | €561,500 | - | -€561,500 | |
| Outside capital | 11 | - | €561,500 | +€561,500 | |
| Other | 1109/19 | - | €561,500 | +€561,500 | |
| Reserves | 13 | €1,665,557 | €1,735,103 | +€69,546 | +4.2% |
| Non-distributable reserves | 130/1 | €29,465 | - | -€29,465 | |
| Legal reserve | 130 | €29,465 | - | -€29,465 | |
| Distributable reserves | 133 | €1,636,092 | €1,735,103 | +€99,011 | +6.1% |
| Amounts payable | 17/49 | €95,044 | €85,417 | -€9,627 | -10.1% |
| Amounts payable after more than one year | 17 | €55,665 | €24,805 | -€30,860 | -55.4% |
| Other amounts payable | 178/9 | €55,665 | €24,805 | -€30,860 | -55.4% |
| Amounts payable within one year | 42/48 | €39,016 | €60,512 | +€21,496 | +55.1% |
| Trade debts | 44 | €18,752 | €10,515 | -€8,236 | -43.9% |
| Suppliers | 440/4 | €18,752 | €10,515 | -€8,236 | -43.9% |
| Advances received on contracts in progress | 46 | €7,519 | €7,892 | +€373 | +5.0% |
| Taxes, remuneration and social security | 45 | - | €5,085 | +€5,085 | |
| Taxes | 450/3 | - | €5,085 | +€5,085 | |
| Other amounts payable | 47/48 | €12,745 | €37,019 | +€24,274 | +190.5% |
| Accrued charges and deferred income | 492/3 | €364 | €100 | -€263 | -72.4% |
| Non-recurring operating income | 76A | €6,144 | €1,280 | -€4,864 | -79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,339 | €100,310 | +€1,971 | +2.0% |
| Other operating charges | 640/8 | €18,603 | €18,937 | +€333 | +1.8% |
| Non-recurring operating charges | 66A | - | €1,382 | +€1,382 | |
| Gross operating margin | 9900 | €180,036 | €212,097 | +€32,061 | +17.8% |
| Operating profit (loss) | 9901 | €63,094 | €91,468 | +€28,375 | +45.0% |
| Financial income | 75/76B | €12,112 | €17,275 | +€5,163 | +42.6% |
| Recurring financial income | 75 | €12,112 | €17,275 | +€5,163 | +42.6% |
| Financial charges | 65/66B | €2,707 | €6,056 | +€3,349 | +123.7% |
| Recurring financial charges | 65 | €2,707 | €6,056 | +€3,349 | +123.7% |
| Profit (loss) for the period before taxes | 9903 | €72,499 | €102,688 | +€30,189 | +41.6% |
| Income taxes | 67/77 | €22,616 | €33,142 | +€10,527 | +46.5% |
| Profit (loss) for the period | 9904 | €49,883 | €69,546 | +€19,663 | +39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €49,883 | €69,546 | +€19,663 | +39.4% |
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.