DE HERTOG: 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.
DE HERTOG
Largest movements
- Stocks and contracts +€50,761
up €50,761 (+3.3%), from €1.5m to €1.6m
- Debts after one year +€59,950
up €59,950 (+4.2%), from €1.4m to €1.5m
- Profit (loss) carried forward -€44,176
down €44,176 (-53.0%), from -€83,374 to -€127,549
- Accrued charges and deferred income +€37,244
up €37,244 (+42.9%), from €86,847 to €124,091
- Financial charges -€4,246
down €4,246 (-10.1%), from €42,034 to €37,788
- Gross operating margin -€3,047
down €3,047 (-127%), from -€2,392 to -€5,439
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 | €1,550,843 | €1,599,838 | +€48,996 | +3.2% |
| Current assets | 29/58 | €1,550,843 | €1,599,838 | +€48,996 | +3.2% |
| Stocks and contracts in progress | 3 | €1,542,222 | €1,592,982 | +€50,761 | +3.3% |
| Stocks | 30/36 | €1,542,222 | €1,592,982 | +€50,761 | +3.3% |
| Amounts receivable within one year | 40/41 | €7,552 | €89 | -€7,463 | -98.8% |
| Other amounts receivable | 41 | €7,552 | €89 | -€7,463 | -98.8% |
| Cash at bank and in hand | 54/58 | - | €5,634 | +€5,634 | |
| Deferred charges and accrued income | 490/1 | €1,069 | €1,133 | +€64 | +6.0% |
| Total equity and liabilities | 10/49 | €1,550,843 | €1,599,838 | +€48,996 | +3.2% |
| Equity | 10/15 | -€28,814 | -€72,989 | -€44,176 | -153% |
| Contributions | 10/11 | €49,600 | €49,600 | = | 0.0% |
| Reserves | 13 | €4,960 | €4,960 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,960 | €4,960 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,960 | €4,960 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,374 | -€127,549 | -€44,176 | -53.0% |
| Amounts payable | 17/49 | €1,579,656 | €1,672,828 | +€93,171 | +5.9% |
| Amounts payable after more than one year | 17 | €1,421,805 | €1,481,755 | +€59,950 | +4.2% |
| Financial debts | 170/4 | €1,421,805 | €1,481,755 | +€59,950 | +4.2% |
| Amounts payable within one year | 42/48 | €71,004 | €66,982 | -€4,022 | -5.7% |
| Financial debts | 43 | €6,778 | - | -€6,778 | |
| Credit institutions | 430/8 | €6,778 | - | -€6,778 | |
| Trade debts | 44 | €4,225 | €6,982 | +€2,756 | +65.2% |
| Suppliers | 440/4 | €4,225 | €6,982 | +€2,756 | +65.2% |
| Other amounts payable | 47/48 | €60,000 | €60,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €86,847 | €124,091 | +€37,244 | +42.9% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€2,392 | -€5,439 | -€3,047 | -127% |
| Operating profit (loss) | 9901 | -€3,359 | -€6,438 | -€3,078 | -91.6% |
| Financial income | 75/76B | - | €50 | +€50 | |
| Recurring financial income | 75 | - | €50 | +€50 | |
| Financial charges | 65/66B | €42,034 | €37,788 | -€4,246 | -10.1% |
| Recurring financial charges | 65 | €42,034 | €37,788 | -€4,246 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€45,394 | -€44,176 | +€1,218 | +2.7% |
| Profit (loss) for the period | 9904 | -€45,394 | -€44,176 | +€1,218 | +2.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€45,394 | -€44,176 | +€1,218 | +2.7% |
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 20 October 2026 via checked.be.