E. HERREMANS: what changed
Two fiscal 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.
E. HERREMANS
Largest movements
- Cash +€8,592
up €8,592 (+7.0%), from €122,658 to €131,250
mainly Net result for the year (+€7,392) and Deferred charges and accrued income (+€1,600)
- Deferred charges and accrued income -€1,600
down €1,600 (-35.6%), from €4,500 to €2,900
- Profit (loss) carried forward +€7,392
new in 2025: €7,392
- Gross operating margin +€16,115
up €16,115, from -€4,539 to €11,576
- Financial income +€358
up €358 (+100.7%), from €356 to €714
- Depreciation +€278
up €278 (+24.4%), from €1,137 to €1,415
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 | €151,111 | €157,451 | +€6,340 | +4.2% |
| Fixed assets | 21/28 | €5,961 | €5,123 | -€838 | -14.1% |
| Tangible fixed assets | 22/27 | €5,961 | €5,123 | -€838 | -14.1% |
| Plant, machinery and equipment | 23 | €5,839 | €5,103 | -€735 | -12.6% |
| Other tangible fixed assets | 26 | €123 | €20 | -€103 | -83.6% |
| Current assets | 29/58 | €145,150 | €152,328 | +€7,178 | +4.9% |
| Stocks and contracts in progress | 3 | €4,298 | €4,399 | +€100 | +2.3% |
| Stocks | 30/36 | €4,298 | €4,399 | +€100 | +2.3% |
| Amounts receivable within one year | 40/41 | €13,021 | €13,106 | +€85 | +0.7% |
| Trade receivables | 40 | €2,535 | €2,243 | -€292 | -11.5% |
| Other amounts receivable | 41 | €10,486 | €10,863 | +€377 | +3.6% |
| Current investments | 50/53 | €673 | €673 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €122,658 | €131,250 | +€8,592 | +7.0% |
| Deferred charges and accrued income | 490/1 | €4,500 | €2,900 | -€1,600 | -35.6% |
| Total equity and liabilities | 10/49 | €151,111 | €157,451 | +€6,340 | +4.2% |
| Equity | 10/15 | €144,961 | €152,353 | +€7,392 | +5.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €132,561 | €132,561 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,176 | €32,176 | = | 0.0% |
| Distributable reserves | 133 | €98,525 | €98,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €7,392 | +€7,392 | |
| Amounts payable | 17/49 | €6,150 | €5,098 | -€1,052 | -17.1% |
| Amounts payable within one year | 42/48 | €6,150 | €5,098 | -€1,052 | -17.1% |
| Trade debts | 44 | €2,450 | €2,356 | -€95 | -3.9% |
| Suppliers | 440/4 | €2,450 | €2,356 | -€95 | -3.9% |
| Taxes, remuneration and social security | 45 | €2,549 | €1,695 | -€853 | -33.5% |
| Taxes | 450/3 | €2,549 | €1,527 | -€1,021 | -40.1% |
| Remuneration and social security | 454/9 | - | €168 | +€168 | |
| Other amounts payable | 47/48 | €1,151 | €1,048 | -€104 | -9.0% |
| Non-recurring operating income | 76A | - | €3,167 | +€3,167 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,137 | €1,415 | +€278 | +24.4% |
| Other operating charges | 640/8 | €3,224 | €3,233 | +€9 | +0.3% |
| Gross operating margin | 9900 | -€4,539 | €11,576 | +€16,115 | |
| Operating profit (loss) | 9901 | -€8,900 | €6,928 | +€15,828 | |
| Financial income | 75/76B | €356 | €714 | +€358 | +100.7% |
| Recurring financial income | 75 | €356 | €714 | +€358 | +100.7% |
| Financial charges | 65/66B | €92 | €172 | +€80 | +87.7% |
| Recurring financial charges | 65 | €92 | €172 | +€80 | +87.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,636 | €7,471 | +€16,106 | |
| Income taxes | 67/77 | €130 | €79 | -€52 | -39.6% |
| Profit (loss) for the period | 9904 | -€8,766 | €7,392 | +€16,158 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,766 | €7,392 | +€16,158 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.