BUREAU HERMES: 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.
BUREAU HERMES
Largest movements
- Cash +€37,569
up €37,569 (+56.8%), from €66,107 to €103,676
mainly Net result for the year (+€41,530) and Receivables within one year (+€20,984)
- Receivables within one year -€20,984
down €20,984 (-61.1%), from €34,352 to €13,368
of which Other amounts receivable: -€15,621
- Tangible fixed assets -€7,915
down €7,915 (-19.7%), from €40,254 to €32,339
of which Furniture and vehicles: -€4,441
- Reserves +€6,162
up €6,162 (+3.0%), from €202,318 to €208,480
- Tax, wage and social debts +€2,679
up €2,679 (+39.0%), from €6,870 to €9,549
- Gross operating margin +€31,034
up €31,034 (+76.0%), from €40,812 to €71,846
- Taxes +€10,424
up €10,424 (+137%), from €7,601 to €18,025
- Other operating charges +€1,105
up €1,105 (+21.9%), from €5,043 to €6,148
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 | €230,479 | €239,390 | +€8,910 | +3.9% |
| Fixed assets | 21/28 | €40,298 | €32,383 | -€7,915 | -19.6% |
| Tangible fixed assets | 22/27 | €40,254 | €32,339 | -€7,915 | -19.7% |
| Land and buildings | 22 | €20,038 | €19,871 | -€167 | -0.8% |
| Plant, machinery and equipment | 23 | €15,775 | €12,468 | -€3,307 | -21.0% |
| Furniture and vehicles | 24 | €4,441 | - | -€4,441 | |
| Financial fixed assets | 28 | €44 | €44 | = | 0.0% |
| Current assets | 29/58 | €190,181 | €207,007 | +€16,826 | +8.8% |
| Amounts receivable after more than one year | 29 | €37,990 | €37,990 | = | 0.0% |
| Other amounts receivable | 291 | €37,990 | €37,990 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €34,352 | €13,368 | -€20,984 | -61.1% |
| Trade receivables | 40 | €5,364 | - | -€5,364 | |
| Other amounts receivable | 41 | €28,988 | €13,368 | -€15,621 | -53.9% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €66,107 | €103,676 | +€37,569 | +56.8% |
| Deferred charges and accrued income | 490/1 | €1,732 | €1,973 | +€241 | +13.9% |
| Total equity and liabilities | 10/49 | €230,479 | €239,390 | +€8,910 | +3.9% |
| Equity | 10/15 | €214,298 | €220,460 | +€6,162 | +2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €202,318 | €208,480 | +€6,162 | +3.0% |
| Distributable reserves | 133 | €202,318 | €208,480 | +€6,162 | +3.0% |
| Profit (loss) carried forward | 14 | -€50,020 | -€50,020 | = | 0.0% |
| Amounts payable | 17/49 | €16,181 | €18,930 | +€2,748 | +17.0% |
| Amounts payable within one year | 42/48 | €16,181 | €18,930 | +€2,748 | +17.0% |
| Trade debts | 44 | €1,827 | €1,747 | -€80 | -4.4% |
| Suppliers | 440/4 | €1,827 | €1,747 | -€80 | -4.4% |
| Taxes, remuneration and social security | 45 | €6,870 | €9,549 | +€2,679 | +39.0% |
| Taxes | 450/3 | €6,870 | €9,549 | +€2,679 | +39.0% |
| Other amounts payable | 47/48 | €7,485 | €7,634 | +€149 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,055 | €7,915 | -€140 | -1.7% |
| Other operating charges | 640/8 | €5,043 | €6,148 | +€1,105 | +21.9% |
| Gross operating margin | 9900 | €40,812 | €71,846 | +€31,034 | +76.0% |
| Operating profit (loss) | 9901 | €27,714 | €57,782 | +€30,069 | +108% |
| Financial income | 75/76B | €2,398 | €2,114 | -€284 | -11.8% |
| Recurring financial income | 75 | €2,398 | €2,114 | -€284 | -11.8% |
| Financial charges | 65/66B | €514 | €341 | -€172 | -33.5% |
| Recurring financial charges | 65 | €514 | €341 | -€172 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €29,598 | €59,555 | +€29,957 | +101% |
| Income taxes | 67/77 | €7,601 | €18,025 | +€10,424 | +137% |
| Profit (loss) for the period | 9904 | €21,998 | €41,530 | +€19,533 | +88.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,998 | €41,530 | +€19,533 | +88.8% |
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 24 October 2026 via checked.be.