HENS'Cetera: 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.
HENS'Cetera
Largest movements
- Receivables within one year +€40,364
up €40,364 (+16.1%), from €250,169 to €290,533
of which Other amounts receivable: +€34,667
- Tangible fixed assets -€31,660
down €31,660 (-10.0%), from €317,300 to €285,640
of which Plant, machinery and equipment: -€17,500
- Cash +€14,162
up €14,162 (+98.9%), from €14,318 to €28,480
mainly Net result for the year (+€172,200) and Depreciation (+€37,433)
- Other debts +€30,236
up €30,236 (+23.3%), from €129,787 to €160,023
- Debts after one year -€24,756
down €24,756 (-16.0%), from €155,028 to €130,272
- Tax, wage and social debts +€13,462
up €13,462 (+33.8%), from €39,793 to €53,255
of which Taxes: +€11,706
- Profit (loss) carried forward +€12,200
up €12,200 (+10.0%), from €122,480 to €134,680
- Gross operating margin +€29,889
up €29,889 (+6.8%), from €440,873 to €470,762
- Taxes +€12,310
up €12,310 (+25.3%), from €48,564 to €60,875
- Staff costs -€7,931
down €7,931 (-4.0%), from €198,752 to €190,821
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 | €841,281 | €863,941 | +€22,660 | +2.7% |
| Fixed assets | 21/28 | €317,700 | €285,640 | -€32,060 | -10.1% |
| Tangible fixed assets | 22/27 | €317,300 | €285,640 | -€31,660 | -10.0% |
| Land and buildings | 22 | €93,603 | €87,434 | -€6,169 | -6.6% |
| Plant, machinery and equipment | 23 | €197,429 | €179,929 | -€17,500 | -8.9% |
| Furniture and vehicles | 24 | €26,269 | €18,277 | -€7,992 | -30.4% |
| Financial fixed assets | 28 | €400 | €0 | -€400 | -100% |
| Current assets | 29/58 | €523,580 | €578,301 | +€54,721 | +10.5% |
| Amounts receivable within one year | 40/41 | €250,169 | €290,533 | +€40,364 | +16.1% |
| Trade receivables | 40 | €68,514 | €74,211 | +€5,697 | +8.3% |
| Other amounts receivable | 41 | €181,655 | €216,322 | +€34,667 | +19.1% |
| Current investments | 50/53 | €258,522 | €258,522 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €14,318 | €28,480 | +€14,162 | +98.9% |
| Deferred charges and accrued income | 490/1 | €572 | €766 | +€194 | +34.0% |
| Total equity and liabilities | 10/49 | €841,281 | €863,941 | +€22,660 | +2.7% |
| Equity | 10/15 | €409,778 | €421,978 | +€12,200 | +3.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €268,698 | €268,698 | = | 0.0% |
| Non-distributable reserves | 130/1 | €258,522 | €258,522 | = | 0.0% |
| Own shares acquired | 1312 | €258,522 | €258,522 | = | 0.0% |
| Distributable reserves | 133 | €10,176 | €10,176 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,480 | €134,680 | +€12,200 | +10.0% |
| Amounts payable | 17/49 | €431,503 | €441,963 | +€10,461 | +2.4% |
| Amounts payable after more than one year | 17 | €155,028 | €130,272 | -€24,756 | -16.0% |
| Financial debts | 170/4 | €155,028 | €130,272 | -€24,756 | -16.0% |
| Amounts payable within one year | 42/48 | €218,223 | €248,841 | +€30,618 | +14.0% |
| Current portion of amounts payable after more than one year | 42 | €31,286 | €24,756 | -€6,530 | -20.9% |
| Trade debts | 44 | €17,357 | €10,807 | -€6,551 | -37.7% |
| Suppliers | 440/4 | €17,357 | €10,807 | -€6,551 | -37.7% |
| Taxes, remuneration and social security | 45 | €39,793 | €53,255 | +€13,462 | +33.8% |
| Taxes | 450/3 | €17,168 | €28,875 | +€11,706 | +68.2% |
| Remuneration and social security | 454/9 | €22,625 | €24,381 | +€1,756 | +7.8% |
| Other amounts payable | 47/48 | €129,787 | €160,023 | +€30,236 | +23.3% |
| Accrued charges and deferred income | 492/3 | €58,252 | €62,850 | +€4,599 | +7.9% |
| Remuneration, social security and pensions | 62 | €198,752 | €190,821 | -€7,931 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,895 | €37,433 | +€2,538 | +7.3% |
| Other operating charges | 640/8 | €5,657 | €2,829 | -€2,828 | -50.0% |
| Operating charges capitalised as restructuring costs | 649 | €0 | -€7 | -€7 | |
| Gross operating margin | 9900 | €440,873 | €470,762 | +€29,889 | +6.8% |
| Operating profit (loss) | 9901 | €201,569 | €239,687 | +€38,117 | +18.9% |
| Financial charges | 65/66B | €7,574 | €6,612 | -€962 | -12.7% |
| Recurring financial charges | 65 | €7,574 | €6,612 | -€962 | -12.7% |
| Profit (loss) for the period before taxes | 9903 | €193,995 | €233,074 | +€39,079 | +20.1% |
| Income taxes | 67/77 | €48,564 | €60,875 | +€12,310 | +25.3% |
| Profit (loss) for the period | 9904 | €145,431 | €172,200 | +€26,769 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €145,431 | €172,200 | +€26,769 | +18.4% |
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 26 October 2026 via checked.be.