DR. 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.
DR. HERMANS
Largest movements
- Cash -€36,104
down €36,104 (-59.8%), from €60,397 to €24,293
mainly Contributions, distributions and other (-€76,709) and Trade debts (-€1,950)
- Tangible fixed assets -€4,017
down €4,017 (-34.6%), from €11,607 to €7,591
of which Furniture and vehicles: -€2,613
- Receivables within one year -€3,174
down €3,174 (-100.0%), from €3,174 to €0
of which Trade receivables: -€1,656
- Deferred charges and accrued income -€1,792
down €1,792 (-16.9%), from €10,623 to €8,831
- Reserves -€53,704
down €53,704 (-86.0%), from €62,461 to €8,757
of which Distributable reserves: -€53,704
- Other debts +€6,858
up €6,858 (+304.2%), from €2,254 to €9,112
- Tax, wage and social debts +€3,710
up €3,710 (+700.7%), from €529 to €4,239
- Trade debts -€1,950
down €1,950 (-80.4%), from €2,427 to €477
- Financial income -€6,612
down €6,612 (-100.0%), from €6,612 to €0
- Gross operating margin -€1,623
down €1,623 (-4.4%), from €36,705 to €35,082
- Financial charges +€793
up €793, from -€691 to €102
- Other operating charges +€404
up €404 (+44.3%), from €911 to €1,315
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €86,222 | €41,135 | -€45,087 | -52.3% |
| Fixed assets | 21/28 | €12,027 | €8,011 | -€4,017 | -33.4% |
| Tangible fixed assets | 22/27 | €11,607 | €7,591 | -€4,017 | -34.6% |
| Land and buildings | 22 | €4,512 | €3,108 | -€1,404 | -31.1% |
| Furniture and vehicles | 24 | €7,096 | €4,483 | -€2,613 | -36.8% |
| Financial fixed assets | 28 | €420 | €420 | = | 0.0% |
| Current assets | 29/58 | €74,194 | €33,124 | -€41,070 | -55.4% |
| Amounts receivable within one year | 40/41 | €3,174 | €0 | -€3,174 | -100.0% |
| Trade receivables | 40 | €1,656 | €0 | -€1,656 | -100.0% |
| Other amounts receivable | 41 | €1,518 | €0 | -€1,518 | -100.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €60,397 | €24,293 | -€36,104 | -59.8% |
| Deferred charges and accrued income | 490/1 | €10,623 | €8,831 | -€1,792 | -16.9% |
| Total equity and liabilities | 10/49 | €86,222 | €41,135 | -€45,087 | -52.3% |
| Equity | 10/15 | €81,011 | €27,307 | -€53,704 | -66.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €62,461 | €8,757 | -€53,704 | -86.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,902 | €6,902 | = | 0.0% |
| Distributable reserves | 133 | €53,704 | €0 | -€53,704 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €5,211 | €13,828 | +€8,617 | +165.4% |
| Amounts payable within one year | 42/48 | €5,211 | €13,828 | +€8,617 | +165.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €2,427 | €477 | -€1,950 | -80.4% |
| Suppliers | 440/4 | €2,427 | €477 | -€1,950 | -80.4% |
| Taxes, remuneration and social security | 45 | €529 | €4,239 | +€3,710 | +700.7% |
| Taxes | 450/3 | €529 | €4,239 | +€3,710 | +700.7% |
| Other amounts payable | 47/48 | €2,254 | €9,112 | +€6,858 | +304.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,329 | €4,017 | -€313 | -7.2% |
| Other operating charges | 640/8 | €911 | €1,315 | +€404 | +44.3% |
| Gross operating margin | 9900 | €36,705 | €35,082 | -€1,623 | -4.4% |
| Operating profit (loss) | 9901 | €31,465 | €29,751 | -€1,714 | -5.4% |
| Financial income | 75/76B | €6,612 | €0 | -€6,612 | -100.0% |
| Recurring financial income | 75 | €6,612 | €0 | -€6,612 | -100.0% |
| Financial charges | 65/66B | -€691 | €102 | +€793 | |
| Recurring financial charges | 65 | -€691 | €102 | +€793 | |
| Profit (loss) for the period before taxes | 9903 | €38,768 | €29,649 | -€9,119 | -23.5% |
| Income taxes | 67/77 | €6,956 | €6,644 | -€312 | -4.5% |
| Profit (loss) for the period | 9904 | €31,812 | €23,005 | -€8,807 | -27.7% |
| Profit (loss) for the period to be appropriated | 9905 | €31,812 | €23,005 | -€8,807 | -27.7% |
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 10 October 2026 via checked.be.