DE HERTEN: 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.
What changed
DE HERTEN
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€187,199
2024 · -€200,459+€13,260
Equity
€66,235
2024 · €253,434-€187,199
Cash
€8,536
2024 · €9,914-€1,378
Balance sheet total
€1.6m
2024 · €1.8m-€220,535
Largest movements
Assets
- Tangible fixed assets -€182,733
down €182,733 (-10.3%), from €1.8m to €1.6m
of which Land and buildings: -€208,207
- Receivables within one year -€25,312
down €25,312 (-64.1%), from €39,480 to €14,168
of which Trade receivables: -€25,143
Equity and liabilities
- Profit (loss) carried forward -€187,199
down €187,199 (-43.3%), from -€432,816 to -€620,015
- Other debts -€72,747
down €72,747 (-92.8%), from €78,415 to €5,668
- Debts after one year +€59,984
up €59,984 (+14.4%), from €417,732 to €477,717
Income statement
- Gross operating margin -€61,865
down €61,865 (-21.7%), from €285,091 to €223,226
- Staff costs -€56,754
down €56,754 (-33.5%), from €169,351 to €112,597
- Financial charges -€17,209
down €17,209 (-26.9%), from €63,945 to €46,736
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.
Result 2024
-€200,459
Gross operating margin
-€61,865
Staff costs
+€56,754
Depreciation
-€1,619
Other operating charges
+€2,707
Financial income
+€73
Financial charges
+€17,209
Result 2025
-€187,199
Cash bridge derived
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.
From operations
-€24,248
Investment
-€38,038
Financing
+€60,908
Cash 2024
€9,914
From operations (derived)
-€24,248
Net result for the year
-€187,199
Depreciation
+€230,607
Receivables within one year
+€25,312
Deferred charges and accrued income
+€1,276
Trade debts
-€13,730
Tax, wage and social debts
-€8,678
Other debts
-€72,747
Accrued charges and deferred income
+€912
Investment (derived)
-€38,038
Investment in fixed assets (net)
-€38,038
Financing
+€60,908
Debts after one year
+€59,984
Current portion of long-term debt
+€923
Cash 2025
€8,536
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,837,786 | €1,617,251 | -€220,535 | -12.0% |
| Fixed assets | 21/28 | €1,779,618 | €1,587,050 | -€192,569 | -10.8% |
| Tangible fixed assets | 22/27 | €1,769,783 | €1,587,050 | -€182,733 | -10.3% |
| Land and buildings | 22 | €1,747,235 | €1,539,027 | -€208,207 | -11.9% |
| Plant, machinery and equipment | 23 | €5,625 | €36,103 | +€30,478 | +541.8% |
| Furniture and vehicles | 24 | €16,923 | €11,919 | -€5,003 | -29.6% |
| Financial fixed assets | 28 | €9,836 | €0 | -€9,836 | -100.0% |
| Current assets | 29/58 | €58,168 | €30,201 | -€27,966 | -48.1% |
| Amounts receivable within one year | 40/41 | €39,480 | €14,168 | -€25,312 | -64.1% |
| Trade receivables | 40 | €39,311 | €14,168 | -€25,143 | -64.0% |
| Other amounts receivable | 41 | €169 | - | -€169 | |
| Cash at bank and in hand | 54/58 | €9,914 | €8,536 | -€1,378 | -13.9% |
| Deferred charges and accrued income | 490/1 | €8,774 | €7,498 | -€1,276 | -14.5% |
| Total equity and liabilities | 10/49 | €1,837,786 | €1,617,251 | -€220,535 | -12.0% |
| Equity | 10/15 | €253,434 | €66,235 | -€187,199 | -73.9% |
| Contributions | 10/11 | €680,000 | €680,000 | = | 0.0% |
| Capital | 10 | €680,000 | €680,000 | = | 0.0% |
| Issued capital | 100 | €680,000 | €680,000 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€432,816 | -€620,015 | -€187,199 | -43.3% |
| Amounts payable | 17/49 | €1,584,352 | €1,551,017 | -€33,336 | -2.1% |
| Amounts payable after more than one year | 17 | €417,732 | €477,717 | +€59,984 | +14.4% |
| Financial debts | 170/4 | €417,732 | €477,717 | +€59,984 | +14.4% |
| Amounts payable within one year | 42/48 | €1,164,181 | €1,069,950 | -€94,232 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €49,070 | €49,993 | +€923 | +1.9% |
| Financial debts | 43 | €1,000,000 | €1,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,000,000 | €1,000,000 | = | 0.0% |
| Trade debts | 44 | €19,890 | €6,160 | -€13,730 | -69.0% |
| Suppliers | 440/4 | €19,890 | €6,160 | -€13,730 | -69.0% |
| Taxes, remuneration and social security | 45 | €16,807 | €8,129 | -€8,678 | -51.6% |
| Taxes | 450/3 | €7,402 | €945 | -€6,458 | -87.2% |
| Remuneration and social security | 454/9 | €9,405 | €7,184 | -€2,220 | -23.6% |
| Other amounts payable | 47/48 | €78,415 | €5,668 | -€72,747 | -92.8% |
| Accrued charges and deferred income | 492/3 | €2,438 | €3,350 | +€912 | +37.4% |
| Non-recurring operating income | 76A | €1 | €975 | +€974 | +117360.2% |
| Remuneration, social security and pensions | 62 | €169,351 | €112,597 | -€56,754 | -33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,988 | €230,607 | +€1,619 | +0.7% |
| Other operating charges | 640/8 | €23,267 | €20,560 | -€2,707 | -11.6% |
| Gross operating margin | 9900 | €285,091 | €223,226 | -€61,865 | -21.7% |
| Operating profit (loss) | 9901 | -€136,514 | -€140,537 | -€4,022 | -2.9% |
| Financial income | 75/76B | €0 | €73 | +€73 | |
| Recurring financial income | 75 | €0 | €73 | +€73 | |
| Financial charges | 65/66B | €63,945 | €46,736 | -€17,209 | -26.9% |
| Recurring financial charges | 65 | €63,945 | €46,736 | -€17,209 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | -€200,459 | -€187,199 | +€13,260 | +6.6% |
| Profit (loss) for the period | 9904 | -€200,459 | -€187,199 | +€13,260 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€200,459 | -€187,199 | +€13,260 | +6.6% |
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 9 October 2026 via checked.be.