Patrick HENRY: 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.
Patrick HENRY
Largest movements
- Current investments -€122,244
down €122,244 (-40.2%), from €304,404 to €182,160
- Receivables within one year +€77,053
up €77,053 (+548%), from €14,070 to €91,122
of which Other amounts receivable: +€74,608
- Cash +€53,456
up €53,456 (+877%), from €6,094 to €59,550
mainly Current investments (+€122,244) and Net result for the year (+€11,878)
- Reserves +€11,800
up €11,800 (+3.7%), from €318,860 to €330,660
of which Distributable reserves: +€11,800
- Tax, wage and social debts +€3,890
up €3,890 (+89.7%), from €4,339 to €8,230
- Financial income +€6,189
up €6,189 (+340%), from €1,820 to €8,008
- Taxes +€1,642
up €1,642 (+22.7%), from €7,240 to €8,882
- Depreciation +€599
up €599 (+7.4%), from €8,055 to €8,654
- Financial charges +€413
up €413 (+141%), from €293 to €705
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 | €343,739 | €356,145 | +€12,406 | +3.6% |
| Fixed assets | 21/28 | €18,314 | €19,738 | +€1,424 | +7.8% |
| Tangible fixed assets | 22/27 | €18,314 | €19,738 | +€1,424 | +7.8% |
| Furniture and vehicles | 24 | €11,378 | €4,587 | -€6,792 | -59.7% |
| Other tangible fixed assets | 26 | €6,936 | €15,151 | +€8,216 | +118% |
| Current assets | 29/58 | €325,424 | €336,406 | +€10,982 | +3.4% |
| Amounts receivable within one year | 40/41 | €14,070 | €91,122 | +€77,053 | +548% |
| Trade receivables | 40 | €14,063 | €16,507 | +€2,444 | +17.4% |
| Other amounts receivable | 41 | €7 | €74,615 | +€74,608 | +1,089,172% |
| Current investments | 50/53 | €304,404 | €182,160 | -€122,244 | -40.2% |
| Cash at bank and in hand | 54/58 | €6,094 | €59,550 | +€53,456 | +877% |
| Deferred charges and accrued income | 490/1 | €856 | €3,574 | +€2,717 | +317% |
| Total equity and liabilities | 10/49 | €343,739 | €356,145 | +€12,406 | +3.6% |
| Equity | 10/15 | €333,129 | €345,007 | +€11,878 | +3.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €318,860 | €330,660 | +€11,800 | +3.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €317,000 | €328,800 | +€11,800 | +3.7% |
| Profit (loss) carried forward | 14 | €1,869 | €1,947 | +€78 | +4.2% |
| Amounts payable | 17/49 | €10,609 | €11,138 | +€528 | +5.0% |
| Amounts payable within one year | 42/48 | €9,923 | €10,453 | +€530 | +5.3% |
| Financial debts | 43 | €341 | €220 | -€122 | -35.6% |
| Credit institutions | 430/8 | €341 | €220 | -€122 | -35.6% |
| Trade debts | 44 | €2,018 | €2,003 | -€15 | -0.7% |
| Suppliers | 440/4 | €2,018 | €2,003 | -€15 | -0.7% |
| Taxes, remuneration and social security | 45 | €4,339 | €8,230 | +€3,890 | +89.7% |
| Taxes | 450/3 | €4,339 | €8,230 | +€3,890 | +89.7% |
| Other amounts payable | 47/48 | €3,224 | - | -€3,224 | |
| Accrued charges and deferred income | 492/3 | €687 | €685 | -€2 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,055 | €8,654 | +€599 | +7.4% |
| Other operating charges | 640/8 | €944 | €866 | -€77 | -8.2% |
| Gross operating margin | 9900 | €22,775 | €22,977 | +€202 | +0.9% |
| Operating profit (loss) | 9901 | €13,777 | €13,457 | -€320 | -2.3% |
| Financial income | 75/76B | €1,820 | €8,008 | +€6,189 | +340% |
| Recurring financial income | 75 | €1,820 | €8,008 | +€6,189 | +340% |
| Financial charges | 65/66B | €293 | €705 | +€413 | +141% |
| Recurring financial charges | 65 | €293 | €705 | +€413 | +141% |
| Profit (loss) for the period before taxes | 9903 | €15,304 | €20,760 | +€5,456 | +35.6% |
| Income taxes | 67/77 | €7,240 | €8,882 | +€1,642 | +22.7% |
| Profit (loss) for the period | 9904 | €8,064 | €11,878 | +€3,813 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,064 | €11,878 | +€3,813 | +47.3% |
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 13 October 2026 via checked.be.