PATRICK HENS: 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 HENS
Largest movements
- Tangible fixed assets +€152,209
up €152,209 (+342%), from €44,495 to €196,705
of which Furniture and vehicles: +€158,192
- Receivables within one year -€26,561
down €26,561 (-8.5%), from €310,831 to €284,271
of which Trade receivables: -€31,990
- Cash +€24,263
up €24,263 (+94.8%), from €25,581 to €49,844
mainly Debts after one year (+€130,313) and Other debts (+€33,358)
- Debts after one year +€130,313
up €130,313 (+40.7%), from €320,000 to €450,313
- Other debts +€33,358
up €33,358 (+4.4%), from €765,429 to €798,787
- Trade debts -€17,747
down €17,747 (-6.7%), from €264,188 to €246,441
- Staff costs -€46,904
down €46,904 (-31.6%), from €148,416 to €101,512
- Gross operating margin -€31,055
down €31,055 (-15.4%), from €202,118 to €171,063
- Depreciation +€12,633
up €12,633 (+68.9%), from €18,327 to €30,960
- Financial charges -€4,436
down €4,436 (-14.4%), from €30,854 to €26,418
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 | €1,399,739 | €1,556,384 | +€156,645 | +11.2% |
| Fixed assets | 21/28 | €51,093 | €203,302 | +€152,209 | +298% |
| Tangible fixed assets | 22/27 | €44,495 | €196,705 | +€152,209 | +342% |
| Land and buildings | 22 | €7,139 | €3,570 | -€3,570 | -50.0% |
| Plant, machinery and equipment | 23 | €36,791 | €34,378 | -€2,413 | -6.6% |
| Furniture and vehicles | 24 | €565 | €158,757 | +€158,192 | +27,997% |
| Financial fixed assets | 28 | €6,597 | €6,597 | = | 0.0% |
| Current assets | 29/58 | €1,348,646 | €1,353,082 | +€4,436 | +0.3% |
| Stocks and contracts in progress | 3 | €996,709 | €994,530 | -€2,178 | -0.2% |
| Stocks | 30/36 | €996,709 | €994,530 | -€2,178 | -0.2% |
| Amounts receivable within one year | 40/41 | €310,831 | €284,271 | -€26,561 | -8.5% |
| Trade receivables | 40 | €303,402 | €271,412 | -€31,990 | -10.5% |
| Other amounts receivable | 41 | €7,429 | €12,858 | +€5,429 | +73.1% |
| Cash at bank and in hand | 54/58 | €25,581 | €49,844 | +€24,263 | +94.8% |
| Deferred charges and accrued income | 490/1 | €15,524 | €24,436 | +€8,912 | +57.4% |
| Total equity and liabilities | 10/49 | €1,399,739 | €1,556,384 | +€156,645 | +11.2% |
| Equity | 10/15 | -€19,294 | -€16,397 | +€2,897 | +15.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,886 | -€34,989 | +€2,897 | +7.6% |
| Amounts payable | 17/49 | €1,419,033 | €1,572,782 | +€153,749 | +10.8% |
| Amounts payable after more than one year | 17 | €320,000 | €450,313 | +€130,313 | +40.7% |
| Financial debts | 170/4 | €320,000 | €450,313 | +€130,313 | +40.7% |
| Amounts payable within one year | 42/48 | €1,092,933 | €1,117,301 | +€24,368 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €57,198 | €68,407 | +€11,209 | +19.6% |
| Trade debts | 44 | €264,188 | €246,441 | -€17,747 | -6.7% |
| Suppliers | 440/4 | €264,188 | €246,441 | -€17,747 | -6.7% |
| Taxes, remuneration and social security | 45 | €6,118 | €3,666 | -€2,452 | -40.1% |
| Taxes | 450/3 | €3,734 | €2,507 | -€1,228 | -32.9% |
| Remuneration and social security | 454/9 | €2,383 | €1,159 | -€1,224 | -51.4% |
| Other amounts payable | 47/48 | €765,429 | €798,787 | +€33,358 | +4.4% |
| Accrued charges and deferred income | 492/3 | €6,100 | €5,168 | -€932 | -15.3% |
| Non-recurring operating income | 76A | - | €4,000 | +€4,000 | |
| Remuneration, social security and pensions | 62 | €148,416 | €101,512 | -€46,904 | -31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,327 | €30,960 | +€12,633 | +68.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,197 | €0 | -€1,197 | -100% |
| Other operating charges | 640/8 | €9,011 | €7,920 | -€1,091 | -12.1% |
| Gross operating margin | 9900 | €202,118 | €171,063 | -€31,055 | -15.4% |
| Operating profit (loss) | 9901 | €25,168 | €30,672 | +€5,504 | +21.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €30,854 | €26,418 | -€4,436 | -14.4% |
| Recurring financial charges | 65 | €30,854 | €26,418 | -€4,436 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,686 | €4,254 | +€9,940 | |
| Income taxes | 67/77 | €1,333 | €1,357 | +€24 | +1.8% |
| Profit (loss) for the period | 9904 | -€7,019 | €2,897 | +€9,916 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,019 | €2,897 | +€9,916 |
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.