HE-RO: 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.
HE-RO
Largest movements
- Cash -€14,589
down €14,589 (-17.2%), from €84,865 to €70,276
mainly Contributions, distributions and other (-€71,000) and Tax, wage and social debts (-€12,291)
- Tangible fixed assets +€4,519
up €4,519 (+6294.7%), from €72 to €4,591
of which Furniture and vehicles: +€4,591
- Receivables within one year +€3,855
new in 2025: €3,855
of which Other amounts receivable: +€3,692
- Other debts +€69,768
up €69,768 (+5634.4%), from €1,238 to €71,006
- Profit (loss) carried forward -€62,822
down €62,822 (-92.0%), from €68,293 to €5,472
- Tax, wage and social debts -€12,291
down €12,291 (-83.1%), from €14,785 to €2,494
- Trade debts -€871
down €871 (-89.7%), from €971 to €100
- Gross operating margin -€31,145
down €31,145 (-75.4%), from €41,286 to €10,141
- Taxes -€9,892
down €9,892 (-85.3%), from €11,592 to €1,701
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 | €86,287 | €80,071 | -€6,216 | -7.2% |
| Fixed assets | 21/28 | €1,422 | €5,941 | +€4,519 | +317.8% |
| Tangible fixed assets | 22/27 | €72 | €4,591 | +€4,519 | +6294.7% |
| Plant, machinery and equipment | 23 | €72 | - | -€72 | |
| Furniture and vehicles | 24 | - | €4,591 | +€4,591 | |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €84,865 | €74,131 | -€10,735 | -12.6% |
| Amounts receivable within one year | 40/41 | - | €3,855 | +€3,855 | |
| Trade receivables | 40 | - | €163 | +€163 | |
| Other amounts receivable | 41 | - | €3,692 | +€3,692 | |
| Cash at bank and in hand | 54/58 | €84,865 | €70,276 | -€14,589 | -17.2% |
| Total equity and liabilities | 10/49 | €86,287 | €80,071 | -€6,216 | -7.2% |
| Equity | 10/15 | €69,293 | €6,472 | -€62,822 | -90.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,293 | €5,472 | -€62,822 | -92.0% |
| Amounts payable | 17/49 | €16,994 | €73,600 | +€56,606 | +333.1% |
| Amounts payable within one year | 42/48 | €16,994 | €73,600 | +€56,606 | +333.1% |
| Trade debts | 44 | €971 | €100 | -€871 | -89.7% |
| Suppliers | 440/4 | €971 | €100 | -€871 | -89.7% |
| Taxes, remuneration and social security | 45 | €14,785 | €2,494 | -€12,291 | -83.1% |
| Taxes | 450/3 | €14,785 | €2,494 | -€12,291 | -83.1% |
| Other amounts payable | 47/48 | €1,238 | €71,006 | +€69,768 | +5634.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €340 | €109 | -€231 | -67.9% |
| Other operating charges | 640/8 | €451 | €66 | -€385 | -85.4% |
| Gross operating margin | 9900 | €41,286 | €10,141 | -€31,145 | -75.4% |
| Operating profit (loss) | 9901 | €40,495 | €9,966 | -€30,529 | -75.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -98.9% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -98.9% |
| Financial charges | 65/66B | €64 | €87 | +€23 | +35.3% |
| Recurring financial charges | 65 | €64 | €87 | +€23 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €40,431 | €9,879 | -€30,553 | -75.6% |
| Income taxes | 67/77 | €11,592 | €1,701 | -€9,892 | -85.3% |
| Profit (loss) for the period | 9904 | €28,839 | €8,178 | -€20,661 | -71.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,839 | €8,178 | -€20,661 | -71.6% |
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 6 October 2026 via checked.be.