ETS. HERGOT Patrick Alexandre: 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.
ETS. HERGOT Patrick Alexandre
Largest movements
- Tangible fixed assets -€35,361
down €35,361 (-33.8%), from €104,465 to €69,104
of which Land and buildings: -€25,221
- Cash +€34,071
up €34,071 (+244%), from €13,983 to €48,054
mainly Investment in fixed assets (net) (+€21,863) and Advances received (+€19,594)
- Stocks and contracts -€12,105
down €12,105 (-44.5%), from €27,225 to €15,120
- Receivables within one year +€9,793
up €9,793 (+28.7%), from €34,109 to €43,902
of which Trade receivables: +€14,516
- Financial fixed assets +€2,107
up €2,107 (+35.0%), from €6,020 to €8,128
- Debts after one year -€26,983
down €26,983 (-63.3%), from €42,609 to €15,626
- Advances received +€19,594
up €19,594 (+1,689%), from €1,160 to €20,755
- Current portion of long-term debt -€15,409
down €15,409 (-72.5%), from €21,239 to €5,830
- Reserves +€12,709
up €12,709 (+58.0%), from €21,914 to €34,623
of which Distributable reserves: +€12,709
- Trade debts +€9,234
up €9,234 (+102%), from €9,074 to €18,308
- Taxes +€5,591
up €5,591 (+878%), from €636 to €6,227
- Staff costs -€4,108
down €4,108 (-3.4%), from €121,903 to €117,795
- Gross operating margin +€3,288
up €3,288 (+2.1%), from €153,382 to €156,670
- Financial charges -€2,409
down €2,409 (-34.8%), from €6,915 to €4,505
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 | €188,862 | €186,817 | -€2,045 | -1.1% |
| Fixed assets | 21/28 | €110,485 | €77,232 | -€33,254 | -30.1% |
| Tangible fixed assets | 22/27 | €104,465 | €69,104 | -€35,361 | -33.8% |
| Land and buildings | 22 | €68,706 | €43,486 | -€25,221 | -36.7% |
| Plant, machinery and equipment | 23 | €4,091 | €2,572 | -€1,519 | -37.1% |
| Furniture and vehicles | 24 | €31,668 | €23,047 | -€8,621 | -27.2% |
| Financial fixed assets | 28 | €6,020 | €8,128 | +€2,107 | +35.0% |
| Current assets | 29/58 | €78,377 | €109,586 | +€31,209 | +39.8% |
| Stocks and contracts in progress | 3 | €27,225 | €15,120 | -€12,105 | -44.5% |
| Stocks | 30/36 | €27,225 | €15,120 | -€12,105 | -44.5% |
| Amounts receivable within one year | 40/41 | €34,109 | €43,902 | +€9,793 | +28.7% |
| Trade receivables | 40 | €20,225 | €34,741 | +€14,516 | +71.8% |
| Other amounts receivable | 41 | €13,884 | €9,160 | -€4,723 | -34.0% |
| Cash at bank and in hand | 54/58 | €13,983 | €48,054 | +€34,071 | +244% |
| Deferred charges and accrued income | 490/1 | €3,060 | €2,510 | -€550 | -18.0% |
| Total equity and liabilities | 10/49 | €188,862 | €186,817 | -€2,045 | -1.1% |
| Equity | 10/15 | €88,773 | €101,483 | +€12,709 | +14.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,914 | €34,623 | +€12,709 | +58.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €20,054 | €32,763 | +€12,709 | +63.4% |
| Profit (loss) carried forward | 14 | €48,259 | €48,259 | = | 0.0% |
| Amounts payable | 17/49 | €100,089 | €85,335 | -€14,754 | -14.7% |
| Amounts payable after more than one year | 17 | €42,609 | €15,626 | -€26,983 | -63.3% |
| Financial debts | 170/4 | €42,609 | €15,626 | -€26,983 | -63.3% |
| Amounts payable within one year | 42/48 | €56,724 | €69,708 | +€12,985 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €21,239 | €5,830 | -€15,409 | -72.5% |
| Financial debts | 43 | €5,000 | €5,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €9,074 | €18,308 | +€9,234 | +102% |
| Suppliers | 440/4 | €9,074 | €18,308 | +€9,234 | +102% |
| Advances received on contracts in progress | 46 | €1,160 | €20,755 | +€19,594 | +1,689% |
| Taxes, remuneration and social security | 45 | €7,144 | €12,541 | +€5,397 | +75.5% |
| Taxes | 450/3 | €777 | €3,277 | +€2,501 | +322% |
| Remuneration and social security | 454/9 | €6,367 | €9,264 | +€2,896 | +45.5% |
| Other amounts payable | 47/48 | €13,106 | €7,274 | -€5,832 | -44.5% |
| Accrued charges and deferred income | 492/3 | €756 | - | -€756 | |
| Non-recurring operating income | 76A | €481 | - | -€481 | |
| Remuneration, social security and pensions | 62 | €121,903 | €117,795 | -€4,108 | -3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,931 | €11,391 | +€460 | +4.2% |
| Other operating charges | 640/8 | €4,344 | €4,060 | -€285 | -6.6% |
| Non-recurring operating charges | 66A | €2,365 | - | -€2,365 | |
| Gross operating margin | 9900 | €153,382 | €156,670 | +€3,288 | +2.1% |
| Operating profit (loss) | 9901 | €13,838 | €23,424 | +€9,586 | +69.3% |
| Financial income | 75/76B | €0 | €18 | +€18 | +14,642% |
| Recurring financial income | 75 | €0 | €18 | +€18 | +14,642% |
| Financial charges | 65/66B | €6,915 | €4,505 | -€2,409 | -34.8% |
| Recurring financial charges | 65 | €6,915 | €4,505 | -€2,409 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €6,923 | €18,936 | +€12,013 | +174% |
| Income taxes | 67/77 | €636 | €6,227 | +€5,591 | +878% |
| Profit (loss) for the period | 9904 | €6,287 | €12,709 | +€6,423 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €6,287 | €12,709 | +€6,423 | +102% |
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 15 October 2026 via checked.be.