Henbaco: 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.
Henbaco
Largest movements
- Financial fixed assets +€40,000
up €40,000 (+4.0%), from €989,779 to €1.0m
- Deferred charges and accrued income +€20,020
up €20,020 (+674%), from €2,972 to €22,992
- Reserves +€147,876
up €147,876 (+47.6%), from €310,802 to €458,677
- Debts after one year -€96,822
down €96,822 (-68.1%), from €142,175 to €45,353
- Other debts -€20,565
down €20,565 (-12.4%), from €165,859 to €145,295
- Trade debts +€19,843
up €19,843 (+410%), from €4,840 to €24,682
- Current portion of long-term debt +€14,356
up €14,356 (+11.9%), from €120,348 to €134,704
- Gross operating margin +€51,581
up €51,581, from -€5,790 to €45,791
- Taxes +€5,150
up €5,150 (+53.6%), from €9,600 to €14,750
- Depreciation -€4,179
down €4,179 (-91.7%), from €4,559 to €380
- Financial charges -€1,071
down €1,071 (-25.0%), from €4,293 to €3,221
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 | €1,029,168 | €1,105,446 | +€76,278 | +7.4% |
| Fixed assets | 21/28 | €990,159 | €1,029,779 | +€39,620 | +4.0% |
| Intangible fixed assets | 21 | €380 | - | -€380 | |
| Financial fixed assets | 28 | €989,779 | €1,029,779 | +€40,000 | +4.0% |
| Current assets | 29/58 | €39,009 | €75,667 | +€36,658 | +94.0% |
| Amounts receivable within one year | 40/41 | €35,267 | €45,278 | +€10,011 | +28.4% |
| Trade receivables | 40 | €9,680 | - | -€9,680 | |
| Other amounts receivable | 41 | €25,587 | €45,278 | +€19,691 | +77.0% |
| Cash at bank and in hand | 54/58 | €770 | €7,397 | +€6,627 | +861% |
| Deferred charges and accrued income | 490/1 | €2,972 | €22,992 | +€20,020 | +674% |
| Total equity and liabilities | 10/49 | €1,029,168 | €1,105,446 | +€76,278 | +7.4% |
| Equity | 10/15 | €573,302 | €721,177 | +€147,876 | +25.8% |
| Contributions | 10/11 | €262,500 | €262,500 | = | 0.0% |
| Reserves | 13 | €310,802 | €458,677 | +€147,876 | +47.6% |
| Distributable reserves | 133 | €310,802 | €458,677 | +€147,876 | +47.6% |
| Amounts payable | 17/49 | €455,866 | €384,269 | -€71,597 | -15.7% |
| Amounts payable after more than one year | 17 | €142,175 | €45,353 | -€96,822 | -68.1% |
| Financial debts | 170/4 | €142,175 | €45,353 | -€96,822 | -68.1% |
| Amounts payable within one year | 42/48 | €313,691 | €338,915 | +€25,224 | +8.0% |
| Current portion of amounts payable after more than one year | 42 | €120,348 | €134,704 | +€14,356 | +11.9% |
| Financial debts | 43 | €3,544 | €3,534 | -€11 | -0.3% |
| Credit institutions | 430/8 | €3,544 | €3,534 | -€11 | -0.3% |
| Trade debts | 44 | €4,840 | €24,682 | +€19,843 | +410% |
| Suppliers | 440/4 | €4,840 | €24,682 | +€19,843 | +410% |
| Taxes, remuneration and social security | 45 | €19,100 | €30,700 | +€11,600 | +60.7% |
| Taxes | 450/3 | €19,100 | €30,700 | +€11,600 | +60.7% |
| Other amounts payable | 47/48 | €165,859 | €145,295 | -€20,565 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,559 | €380 | -€4,179 | -91.7% |
| Other operating charges | 640/8 | €1,226 | €1,064 | -€162 | -13.2% |
| Gross operating margin | 9900 | -€5,790 | €45,791 | +€51,581 | |
| Operating profit (loss) | 9901 | -€11,576 | €44,347 | +€55,922 | |
| Financial income | 75/76B | €121,500 | €121,500 | = | 0.0% |
| Recurring financial income | 75 | €121,500 | €121,500 | = | 0.0% |
| Financial charges | 65/66B | €4,293 | €3,221 | -€1,071 | -25.0% |
| Recurring financial charges | 65 | €4,293 | €3,221 | -€1,071 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €105,632 | €162,626 | +€56,994 | +54.0% |
| Income taxes | 67/77 | €9,600 | €14,750 | +€5,150 | +53.6% |
| Profit (loss) for the period | 9904 | €96,032 | €147,876 | +€51,844 | +54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €96,032 | €147,876 | +€51,844 | +54.0% |
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 27 October 2026 via checked.be.