De Vos - Hermans: 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 Vos - Hermans
Largest movements
- Intangible fixed assets -€153,240
down €153,240 (-11.7%), from €1.3m to €1.2m
- Deferred charges and accrued income +€87,633
up €87,633 (+61.3%), from €143,015 to €230,648
- Tangible fixed assets +€65,296
up €65,296 (+145%), from €45,164 to €110,460
of which Furniture and vehicles: +€62,914
- Cash -€23,487
down €23,487 (-35.8%), from €65,535 to €42,048
mainly Debts after one year (-€145,522) and Deferred charges and accrued income (-€87,633)
- Debts after one year -€145,522
down €145,522 (-10.9%), from €1.3m to €1.2m
- Profit (loss) carried forward +€71,302
up €71,302, from -€53,772 to €17,530
- Tax, wage and social debts +€39,575
up €39,575 (+61.2%), from €64,673 to €104,249
of which Taxes: +€33,482
- Trade debts +€18,381
up €18,381 (+34.5%), from €53,248 to €71,629
- Staff costs -€379,148
down €379,148 (-41.4%), from €916,473 to €537,325
- Gross operating margin -€327,029
down €327,029 (-27.0%), from €1.2m to €883,046
- Depreciation -€59,306
down €59,306 (-25.8%), from €229,495 to €170,189
- Financial charges -€43,956
down €43,956 (-44.8%), from €98,037 to €54,081
- Taxes +€29,542
up €29,542 (+716%), from €4,128 to €33,670
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 | €1,566,516 | €1,542,717 | -€23,799 | -1.5% |
| Fixed assets | 21/28 | €1,357,966 | €1,270,021 | -€87,945 | -6.5% |
| Intangible fixed assets | 21 | €1,312,802 | €1,159,561 | -€153,240 | -11.7% |
| Tangible fixed assets | 22/27 | €45,164 | €110,460 | +€65,296 | +145% |
| Plant, machinery and equipment | 23 | €3,724 | €4,192 | +€468 | +12.6% |
| Furniture and vehicles | 24 | €8,377 | €71,291 | +€62,914 | +751% |
| Other tangible fixed assets | 26 | €33,064 | €34,977 | +€1,914 | +5.8% |
| Current assets | 29/58 | €208,550 | €272,696 | +€64,146 | +30.8% |
| Cash at bank and in hand | 54/58 | €65,535 | €42,048 | -€23,487 | -35.8% |
| Deferred charges and accrued income | 490/1 | €143,015 | €230,648 | +€87,633 | +61.3% |
| Total equity and liabilities | 10/49 | €1,566,516 | €1,542,717 | -€23,799 | -1.5% |
| Equity | 10/15 | -€43,772 | €27,530 | +€71,302 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,772 | €17,530 | +€71,302 | |
| Amounts payable | 17/49 | €1,610,288 | €1,515,187 | -€95,101 | -5.9% |
| Amounts payable after more than one year | 17 | €1,339,309 | €1,193,787 | -€145,522 | -10.9% |
| Financial debts | 170/4 | €1,339,309 | €1,193,787 | -€145,522 | -10.9% |
| Amounts payable within one year | 42/48 | €270,979 | €321,400 | +€50,422 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €140,802 | €145,522 | +€4,720 | +3.4% |
| Trade debts | 44 | €53,248 | €71,629 | +€18,381 | +34.5% |
| Suppliers | 440/4 | €53,248 | €71,629 | +€18,381 | +34.5% |
| Taxes, remuneration and social security | 45 | €64,673 | €104,249 | +€39,575 | +61.2% |
| Taxes | 450/3 | €3,934 | €37,417 | +€33,482 | +851% |
| Remuneration and social security | 454/9 | €60,739 | €66,832 | +€6,093 | +10.0% |
| Other amounts payable | 47/48 | €12,255 | €0 | -€12,255 | -100% |
| Remuneration, social security and pensions | 62 | €916,473 | €537,325 | -€379,148 | -41.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €229,495 | €170,189 | -€59,306 | -25.8% |
| Other operating charges | 640/8 | €3,760 | €2,106 | -€1,654 | -44.0% |
| Non-recurring operating charges | 66A | €640 | €750 | +€110 | +17.2% |
| Gross operating margin | 9900 | €1,210,075 | €883,046 | -€327,029 | -27.0% |
| Operating profit (loss) | 9901 | €59,707 | €172,675 | +€112,969 | +189% |
| Financial income | 75/76B | €941 | €637 | -€305 | -32.4% |
| Recurring financial income | 75 | €941 | €637 | -€305 | -32.4% |
| Financial charges | 65/66B | €98,037 | €54,081 | -€43,956 | -44.8% |
| Recurring financial charges | 65 | €98,037 | €54,081 | -€43,956 | -44.8% |
| Profit (loss) for the period before taxes | 9903 | -€37,389 | €119,231 | +€156,620 | |
| Income taxes | 67/77 | €4,128 | €33,670 | +€29,542 | +716% |
| Profit (loss) for the period | 9904 | -€41,517 | €85,561 | +€127,078 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,517 | €85,561 | +€127,078 |
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.