ETS HERVERS: 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.
ETS HERVERS
Largest movements
- Cash -€5,837
down €5,837 (-16.4%), from €35,592 to €29,755
mainly Receivables within one year (-€5,469) and Deferred charges and accrued income (-€3,628)
- Receivables within one year +€5,469
up €5,469 (+71.0%), from €7,704 to €13,173
of which Trade receivables: +€6,424
- Deferred charges and accrued income +€3,628
up €3,628 (+180.7%), from €2,008 to €5,636
- Stocks and contracts -€2,917
down €2,917 (-43.1%), from €6,770 to €3,853
- Tangible fixed assets +€1,648
new in 2025: €1,648
- Reserves +€1,500
up €1,500 (+10.1%), from €14,884 to €16,384
of which Distributable reserves: +€1,500
- Trade debts +€954
up €954 (+134.6%), from €709 to €1,663
- Accrued charges and deferred income -€900
no longer reported in 2025 (was €900)
- Gross operating margin -€6,509
down €6,509 (-64.9%), from €10,037 to €3,528
- Taxes -€2,282
down €2,282 (-77.3%), from €2,951 to €669
- Depreciation +€500
new in 2025: €500
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 | €53,687 | €55,687 | +€2,000 | +3.7% |
| Fixed assets | 21/28 | - | €1,648 | +€1,648 | |
| Tangible fixed assets | 22/27 | - | €1,648 | +€1,648 | |
| Furniture and vehicles | 24 | - | €1,648 | +€1,648 | |
| Current assets | 29/58 | €53,687 | €54,039 | +€352 | +0.7% |
| Stocks and contracts in progress | 3 | €6,770 | €3,853 | -€2,917 | -43.1% |
| Stocks | 30/36 | €6,770 | €3,853 | -€2,917 | -43.1% |
| Amounts receivable within one year | 40/41 | €7,704 | €13,173 | +€5,469 | +71.0% |
| Trade receivables | 40 | €4,084 | €10,508 | +€6,424 | +157.3% |
| Other amounts receivable | 41 | €3,620 | €2,665 | -€955 | -26.4% |
| Current investments | 50/53 | €1,613 | €1,622 | +€9 | +0.6% |
| Cash at bank and in hand | 54/58 | €35,592 | €29,755 | -€5,837 | -16.4% |
| Deferred charges and accrued income | 490/1 | €2,008 | €5,636 | +€3,628 | +180.7% |
| Total equity and liabilities | 10/49 | €53,687 | €55,687 | +€2,000 | +3.7% |
| Equity | 10/15 | €50,644 | €52,160 | +€1,516 | +3.0% |
| Contributions | 10/11 | €29,747 | €29,747 | = | 0.0% |
| Reserves | 13 | €14,884 | €16,384 | +€1,500 | +10.1% |
| Non-distributable reserves | 130/1 | €2,975 | €2,975 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,975 | €2,975 | = | 0.0% |
| Distributable reserves | 133 | €11,909 | €13,409 | +€1,500 | +12.6% |
| Profit (loss) carried forward | 14 | €6,013 | €6,029 | +€16 | +0.3% |
| Amounts payable | 17/49 | €3,043 | €3,527 | +€484 | +15.9% |
| Amounts payable within one year | 42/48 | €2,143 | €3,527 | +€1,384 | +64.6% |
| Trade debts | 44 | €709 | €1,663 | +€954 | +134.6% |
| Suppliers | 440/4 | €709 | €1,663 | +€954 | +134.6% |
| Taxes, remuneration and social security | 45 | €630 | €1,092 | +€462 | +73.3% |
| Taxes | 450/3 | €630 | €1,092 | +€462 | +73.3% |
| Other amounts payable | 47/48 | €804 | €772 | -€32 | -4.0% |
| Accrued charges and deferred income | 492/3 | €900 | - | -€900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €500 | +€500 | |
| Other operating charges | 640/8 | €820 | €832 | +€12 | +1.5% |
| Gross operating margin | 9900 | €10,037 | €3,528 | -€6,509 | -64.9% |
| Operating profit (loss) | 9901 | €9,217 | €2,196 | -€7,021 | -76.2% |
| Financial income | 75/76B | €108 | €31 | -€77 | -71.3% |
| Recurring financial income | 75 | €108 | €31 | -€77 | -71.3% |
| Financial charges | 65/66B | €40 | €42 | +€2 | +5.0% |
| Recurring financial charges | 65 | €40 | €42 | +€2 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €9,285 | €2,185 | -€7,100 | -76.5% |
| Income taxes | 67/77 | €2,951 | €669 | -€2,282 | -77.3% |
| Profit (loss) for the period | 9904 | €6,334 | €1,516 | -€4,818 | -76.1% |
| Profit (loss) for the period to be appropriated | 9905 | €6,334 | €1,516 | -€4,818 | -76.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.