Wendy Henderickx: what changed
What changed
Wendy Henderickx
filed annual accounts (NBB)
Net result for the year
€76,381
2024 · €81,573-€5,192
Equity
€438,829
2024 · €424,731+€14,098
Cash
€56,655
2024 · €55,676+€979
Balance sheet total
€448,301
2024 · €438,540+€9,761
Largest movements
Assets
- Current investments +€10,062
up €10,062 (+2.8%), from €353,915 to €363,976
Equity and liabilities
- Reserves +€14,098
up €14,098 (+3.4%), from €412,331 to €426,429
- Tax, wage and social debts -€8,913
no longer reported in 2025 (was €8,913)
- Other debts +€5,871
up €5,871 (+235%), from €2,493 to €8,364
Income statement
- Gross operating margin -€9,511
down €9,511 (-8.4%), from €113,043 to €103,532
- Taxes -€2,809
down €2,809 (-8.3%), from €33,849 to €31,039
- Depreciation -€1,258
down €1,258 (-40.2%), from €3,128 to €1,870
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€81,573
Gross operating margin
-€9,511
Depreciation
+€1,258
Other operating charges
+€237
Financial income
+€644
Financial charges
-€629
Taxes
+€2,809
Result 2025
€76,381
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€73,594
Investment
-€10,062
Financing
-€62,553
Cash 2024
€55,676
From operations (derived)
+€73,594
Net result for the year
+€76,381
Depreciation
+€1,870
Smaller working-capital items
-€87
Deferred charges and accrued income
-€500
Trade debts
-€1,029
Tax, wage and social debts
-€8,913
Other debts
+€5,871
Investment (derived)
-€10,062
Current investments
-€10,062
Financing
-€62,553
Short-term financial debts
-€270
Contributions, distributions and other
-€62,283
Cash 2025
€56,655
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €438,540 | €448,301 | +€9,761 | +2.2% |
| Fixed assets | 21/28 | €4,064 | €2,194 | -€1,870 | -46.0% |
| Tangible fixed assets | 22/27 | €4,064 | €2,194 | -€1,870 | -46.0% |
| Plant, machinery and equipment | 23 | €921 | €401 | -€520 | -56.5% |
| Furniture and vehicles | 24 | €899 | €186 | -€713 | -79.3% |
| Leasing and similar rights | 25 | €1,691 | €1,353 | -€338 | -20.0% |
| Other tangible fixed assets | 26 | €553 | €254 | -€299 | -54.0% |
| Current assets | 29/58 | €434,476 | €446,107 | +€11,631 | +2.7% |
| Amounts receivable within one year | 40/41 | - | €90 | +€90 | |
| Other amounts receivable | 41 | - | €90 | +€90 | |
| Current investments | 50/53 | €353,915 | €363,976 | +€10,062 | +2.8% |
| Cash at bank and in hand | 54/58 | €55,676 | €56,655 | +€979 | +1.8% |
| Deferred charges and accrued income | 490/1 | €24,886 | €25,386 | +€500 | +2.0% |
| Total equity and liabilities | 10/49 | €438,540 | €448,301 | +€9,761 | +2.2% |
| Equity | 10/15 | €424,731 | €438,829 | +€14,098 | +3.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €412,331 | €426,429 | +€14,098 | +3.4% |
| Distributable reserves | 133 | €412,331 | €426,429 | +€14,098 | +3.4% |
| Amounts payable | 17/49 | €13,809 | €9,472 | -€4,338 | -31.4% |
| Amounts payable within one year | 42/48 | €13,425 | €9,084 | -€4,341 | -32.3% |
| Financial debts | 43 | €270 | - | -€270 | |
| Credit institutions | 430/8 | €270 | - | -€270 | |
| Trade debts | 44 | €1,749 | €720 | -€1,029 | -58.8% |
| Suppliers | 440/4 | €1,749 | €720 | -€1,029 | -58.8% |
| Taxes, remuneration and social security | 45 | €8,913 | - | -€8,913 | |
| Taxes | 450/3 | €8,913 | - | -€8,913 | |
| Other amounts payable | 47/48 | €2,493 | €8,364 | +€5,871 | +235% |
| Accrued charges and deferred income | 492/3 | €384 | €387 | +€3 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,128 | €1,870 | -€1,258 | -40.2% |
| Other operating charges | 640/8 | €1,024 | €787 | -€237 | -23.2% |
| Gross operating margin | 9900 | €113,043 | €103,532 | -€9,511 | -8.4% |
| Operating profit (loss) | 9901 | €108,891 | €100,875 | -€8,016 | -7.4% |
| Financial income | 75/76B | €6,453 | €7,097 | +€644 | +10.0% |
| Recurring financial income | 75 | €6,453 | €7,097 | +€644 | +10.0% |
| Financial charges | 65/66B | -€76 | €552 | +€629 | |
| Recurring financial charges | 65 | -€76 | €552 | +€629 | |
| Profit (loss) for the period before taxes | 9903 | €115,421 | €107,420 | -€8,001 | -6.9% |
| Income taxes | 67/77 | €33,849 | €31,039 | -€2,809 | -8.3% |
| Profit (loss) for the period | 9904 | €81,573 | €76,381 | -€5,192 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €81,573 | €76,381 | -€5,192 | -6.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.