MR. HENDERSON: what changed
Two financial 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.
MR. HENDERSON
Largest movements
- Cash -€17,337
down €17,337 (-94.1%), from €18,415 to €1,079
mainly Contributions, distributions and other (-€14,286) and Trade debts (-€8,864)
- Tangible fixed assets -€4,720
down €4,720 (-59.4%), from €7,942 to €3,222
of which Plant, machinery and equipment: -€4,590
- Trade debts -€8,864
down €8,864 (-93.7%), from €9,458 to €594
- Other debts -€8,840
no longer reported in 2025 (was €8,840)
- Profit (loss) carried forward -€3,769
down €3,769 (-29.4%), from €12,805 to €9,037
- Tax, wage and social debts -€355
no longer reported in 2025 (was €355)
- Purchases and services -€60,957
no longer reported in 2025 (was €60,957)
- Turnover -€59,484
no longer reported in 2025 (was €59,484)
- Gross operating margin +€22,509
up €22,509, from -€1,473 to €21,035
- Taxes +€5,167
new in 2025: €5,167
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.
Derived cash bridge
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 | €33,458 | €11,630 | -€21,828 | -65.2% |
| Fixed assets | 21/28 | €8,305 | €3,615 | -€4,690 | -56.5% |
| Tangible fixed assets | 22/27 | €7,942 | €3,222 | -€4,720 | -59.4% |
| Plant, machinery and equipment | 23 | €6,642 | €2,052 | -€4,590 | -69.1% |
| Other tangible fixed assets | 26 | €1,300 | €1,170 | -€130 | -10.0% |
| Financial fixed assets | 28 | €363 | €393 | +€30 | +8.3% |
| Current assets | 29/58 | €25,153 | €8,016 | -€17,138 | -68.1% |
| Amounts receivable within one year | 40/41 | €6,214 | €6,413 | +€199 | +3.2% |
| Trade receivables | 40 | €6,214 | €4,383 | -€1,831 | -29.5% |
| Other amounts receivable | 41 | - | €2,030 | +€2,030 | |
| Cash at bank and in hand | 54/58 | €18,415 | €1,079 | -€17,337 | -94.1% |
| Deferred charges and accrued income | 490/1 | €524 | €524 | = | 0.0% |
| Total equity and liabilities | 10/49 | €33,458 | €11,630 | -€21,828 | -65.2% |
| Equity | 10/15 | €14,805 | €11,037 | -€3,769 | -25.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,805 | €9,037 | -€3,769 | -29.4% |
| Amounts payable | 17/49 | €18,653 | €594 | -€18,059 | -96.8% |
| Amounts payable within one year | 42/48 | €18,653 | €594 | -€18,059 | -96.8% |
| Trade debts | 44 | €9,458 | €594 | -€8,864 | -93.7% |
| Suppliers | 440/4 | €9,458 | €594 | -€8,864 | -93.7% |
| Taxes, remuneration and social security | 45 | €355 | - | -€355 | |
| Taxes | 450/3 | €355 | - | -€355 | |
| Other amounts payable | 47/48 | €8,840 | - | -€8,840 | |
| Turnover | 70 | €59,484 | - | -€59,484 | |
| Goods, raw materials, services and sundry goods | 60/61 | €60,957 | - | -€60,957 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,590 | €4,720 | +€130 | +2.8% |
| Other operating charges | 640/8 | €432 | €465 | +€33 | +7.7% |
| Gross operating margin | 9900 | -€1,473 | €21,035 | +€22,509 | |
| Operating profit (loss) | 9901 | -€6,495 | €15,850 | +€22,346 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €96 | €166 | +€70 | +73.8% |
| Recurring financial charges | 65 | €96 | €166 | +€70 | +73.8% |
| Profit (loss) for the period before taxes | 9903 | -€6,589 | €15,684 | +€22,274 | |
| Income taxes | 67/77 | - | €5,167 | +€5,167 | |
| Profit (loss) for the period | 9904 | -€6,589 | €10,517 | +€17,106 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,589 | €10,517 | +€17,106 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.