HENNA: 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.
HENNA
Largest movements
- Tangible fixed assets +€503,958
up €503,958 (+24.4%), from €2.1m to €2.6m
of which Land and buildings: +€516,025
- Receivables within one year +€73,182
up €73,182 (+37.7%), from €194,258 to €267,441
of which Trade receivables: +€64,920
- Debts after one year +€502,471
up €502,471 (+180%), from €279,801 to €782,272
of which Financial debts: +€502,671
- Profit (loss) carried forward +€188,276
up €188,276 (+30.8%), from €610,376 to €798,652
- Other debts -€98,929
down €98,929 (-6.8%), from €1.5m to €1.4m
- Current portion of long-term debt +€57,011
up €57,011 (+197%), from €28,968 to €85,979
- Trade debts -€35,265
down €35,265 (-24.9%), from €141,599 to €106,334
- Gross operating margin +€95,727
up €95,727 (+36.6%), from €261,330 to €357,057
- Depreciation +€29,380
up €29,380 (+50.4%), from €58,309 to €87,689
- Financial charges +€8,219
up €8,219 (+35.7%), from €23,001 to €31,220
- Taxes +€5,196
up €5,196 (+14.5%), from €35,871 to €41,067
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 | €2,609,588 | €3,202,625 | +€593,038 | +22.7% |
| Fixed assets | 21/28 | €2,257,827 | €2,761,785 | +€503,958 | +22.3% |
| Tangible fixed assets | 22/27 | €2,061,701 | €2,565,659 | +€503,958 | +24.4% |
| Land and buildings | 22 | €2,012,392 | €2,528,417 | +€516,025 | +25.6% |
| Plant, machinery and equipment | 23 | €4,666 | €3,905 | -€761 | -16.3% |
| Furniture and vehicles | 24 | €43,227 | €32,076 | -€11,150 | -25.8% |
| Other tangible fixed assets | 26 | €1,417 | €1,261 | -€156 | -11.0% |
| Financial fixed assets | 28 | €196,126 | €196,126 | = | 0.0% |
| Current assets | 29/58 | €351,761 | €440,841 | +€89,080 | +25.3% |
| Stocks and contracts in progress | 3 | €147,986 | €149,028 | +€1,041 | +0.7% |
| Stocks | 30/36 | €147,986 | €149,028 | +€1,041 | +0.7% |
| Amounts receivable within one year | 40/41 | €194,258 | €267,441 | +€73,182 | +37.7% |
| Trade receivables | 40 | €194,071 | €258,991 | +€64,920 | +33.5% |
| Other amounts receivable | 41 | €188 | €8,450 | +€8,262 | +4,402% |
| Cash at bank and in hand | 54/58 | €5,819 | €20,185 | +€14,366 | +247% |
| Deferred charges and accrued income | 490/1 | €3,697 | €4,188 | +€490 | +13.3% |
| Total equity and liabilities | 10/49 | €2,609,588 | €3,202,625 | +€593,038 | +22.7% |
| Equity | 10/15 | €628,926 | €817,202 | +€188,276 | +29.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €610,376 | €798,652 | +€188,276 | +30.8% |
| Amounts payable | 17/49 | €1,980,661 | €2,385,423 | +€404,762 | +20.4% |
| Amounts payable after more than one year | 17 | €279,801 | €782,272 | +€502,471 | +180% |
| Financial debts | 170/4 | €277,323 | €779,994 | +€502,671 | +181% |
| Other amounts payable | 178/9 | €2,478 | €2,278 | -€200 | -8.1% |
| Amounts payable within one year | 42/48 | €1,700,860 | €1,603,151 | -€97,709 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €28,968 | €85,979 | +€57,011 | +197% |
| Trade debts | 44 | €141,599 | €106,334 | -€35,265 | -24.9% |
| Suppliers | 440/4 | €141,599 | €106,334 | -€35,265 | -24.9% |
| Taxes, remuneration and social security | 45 | €67,734 | €47,208 | -€20,526 | -30.3% |
| Taxes | 450/3 | €61,764 | €37,208 | -€24,556 | -39.8% |
| Remuneration and social security | 454/9 | €5,971 | €10,000 | +€4,029 | +67.5% |
| Other amounts payable | 47/48 | €1,462,559 | €1,363,631 | -€98,929 | -6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,309 | €87,689 | +€29,380 | +50.4% |
| Other operating charges | 640/8 | €9,699 | €8,808 | -€891 | -9.2% |
| Gross operating margin | 9900 | €261,330 | €357,057 | +€95,727 | +36.6% |
| Operating profit (loss) | 9901 | €193,322 | €260,560 | +€67,238 | +34.8% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €23,001 | €31,220 | +€8,219 | +35.7% |
| Recurring financial charges | 65 | €23,001 | €31,220 | +€8,219 | +35.7% |
| Profit (loss) for the period before taxes | 9903 | €170,321 | €229,343 | +€59,022 | +34.7% |
| Income taxes | 67/77 | €35,871 | €41,067 | +€5,196 | +14.5% |
| Profit (loss) for the period | 9904 | €134,450 | €188,276 | +€53,826 | +40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €134,450 | €188,276 | +€53,826 | +40.0% |
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 25 October 2026 via checked.be.