HEr Management: 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.
HEr Management
Largest movements
- Cash +€171,268
up €171,268 (+20.6%), from €833,214 to €1.0m
mainly Other debts (+€977,178) and Net result for the year (+€211,475)
- Receivables within one year +€27,242
up €27,242 (+104.1%), from €26,173 to €53,416
of which Trade receivables: +€35,356
- Tangible fixed assets -€18,510
down €18,510 (-38.6%), from €47,912 to €29,402
of which Furniture and vehicles: -€16,442
- Other debts +€977,178
up €977,178 (+527.6%), from €185,222 to €1.2m
- Reserves -€788,000
down €788,000 (-97.5%), from €808,000 to €20,000
- Gross operating margin +€12,409
up €12,409 (+4.5%), from €278,429 to €290,838
- Financial income +€3,998
up €3,998 (+104.6%), from €3,822 to €7,821
- Taxes +€3,899
up €3,899 (+6.4%), from €60,767 to €64,666
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 | €1,058,102 | €1,238,142 | +€180,040 | +17.0% |
| Fixed assets | 21/28 | €47,912 | €29,402 | -€18,510 | -38.6% |
| Tangible fixed assets | 22/27 | €47,912 | €29,402 | -€18,510 | -38.6% |
| Plant, machinery and equipment | 23 | €1,068 | €621 | -€446 | -41.8% |
| Furniture and vehicles | 24 | €33,147 | €16,705 | -€16,442 | -49.6% |
| Other tangible fixed assets | 26 | €13,698 | €12,076 | -€1,622 | -11.8% |
| Current assets | 29/58 | €1,010,190 | €1,208,740 | +€198,550 | +19.7% |
| Amounts receivable within one year | 40/41 | €26,173 | €53,416 | +€27,242 | +104.1% |
| Trade receivables | 40 | - | €35,356 | +€35,356 | |
| Other amounts receivable | 41 | €26,173 | €18,060 | -€8,113 | -31.0% |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €833,214 | €1,004,482 | +€171,268 | +20.6% |
| Deferred charges and accrued income | 490/1 | €803 | €843 | +€40 | +5.0% |
| Total equity and liabilities | 10/49 | €1,058,102 | €1,238,142 | +€180,040 | +17.0% |
| Equity | 10/15 | €827,684 | €39,159 | -€788,525 | -95.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €808,000 | €20,000 | -€788,000 | -97.5% |
| Distributable reserves | 133 | €808,000 | €20,000 | -€788,000 | -97.5% |
| Profit (loss) carried forward | 14 | €1,084 | €559 | -€525 | -48.4% |
| Amounts payable | 17/49 | €230,418 | €1,198,983 | +€968,565 | +420.4% |
| Amounts payable after more than one year | 17 | €12,733 | €2,564 | -€10,169 | -79.9% |
| Financial debts | 170/4 | €12,733 | €2,564 | -€10,169 | -79.9% |
| Amounts payable within one year | 42/48 | €217,685 | €1,196,420 | +€978,735 | +449.6% |
| Current portion of amounts payable after more than one year | 42 | €10,073 | €10,169 | +€96 | +1.0% |
| Trade debts | 44 | €1,111 | €1,065 | -€46 | -4.1% |
| Suppliers | 440/4 | €1,111 | €1,065 | -€46 | -4.1% |
| Taxes, remuneration and social security | 45 | €21,278 | €22,785 | +€1,507 | +7.1% |
| Taxes | 450/3 | €21,278 | €22,785 | +€1,507 | +7.1% |
| Other amounts payable | 47/48 | €185,222 | €1,162,400 | +€977,178 | +527.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,246 | €18,510 | +€264 | +1.4% |
| Other operating charges | 640/8 | €2,848 | €3,501 | +€652 | +22.9% |
| Gross operating margin | 9900 | €278,429 | €290,838 | +€12,409 | +4.5% |
| Operating profit (loss) | 9901 | €257,335 | €268,827 | +€11,493 | +4.5% |
| Financial income | 75/76B | €3,822 | €7,821 | +€3,998 | +104.6% |
| Recurring financial income | 75 | €3,822 | €7,821 | +€3,998 | +104.6% |
| Financial charges | 65/66B | €508 | €507 | -€0 | 0.0% |
| Recurring financial charges | 65 | €508 | €507 | -€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €260,650 | €276,141 | +€15,491 | +5.9% |
| Income taxes | 67/77 | €60,767 | €64,666 | +€3,899 | +6.4% |
| Profit (loss) for the period | 9904 | €199,882 | €211,475 | +€11,593 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €199,882 | €211,475 | +€11,593 | +5.8% |
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.