Her-Ve&co: what changed
Her-Ve&co
Largest movements
- Cash -€161,419
down €161,419 (-55.1%), from €293,180 to €131,762
mainly Investment in fixed assets (net) (-€160,587) and Current investments (-€60,805)
- Tangible fixed assets +€141,522
up €141,522 (+75.2%), from €188,227 to €329,748
of which Land and buildings: +€258,368
- Current investments +€60,805
up €60,805 (+15.3%), from €398,252 to €459,056
- Other debts +€43,050
up €43,050 (+594%), from €7,250 to €50,300
- Tax, wage and social debts -€38,851
down €38,851 (-74.8%), from €51,955 to €13,104
- Reserves +€36,398
up €36,398 (+5.0%), from €731,906 to €768,304
of which Distributable reserves: +€36,398
- Gross operating margin -€131,655
down €131,655 (-61.8%), from €213,005 to €81,350
- Taxes -€47,551
down €47,551 (-68.5%), from €69,439 to €21,888
- Financial income +€43,022
up €43,022 (+618%), from €6,965 to €49,987
- Financial charges +€13,868
up €13,868, from -€12,360 to €1,508
- Depreciation +€13,602
up €13,602 (+249%), from €5,463 to €19,066
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €899,480 | €943,723 | +€44,243 | +4.9% |
| Fixed assets | 21/28 | €188,227 | €329,748 | +€141,522 | +75.2% |
| Tangible fixed assets | 22/27 | €188,227 | €329,748 | +€141,522 | +75.2% |
| Land and buildings | 22 | €71,166 | €329,534 | +€258,368 | +363% |
| Plant, machinery and equipment | 23 | €614 | €214 | -€400 | -65.1% |
| Furniture and vehicles | 24 | €3,454 | €0 | -€3,454 | -100% |
| Assets under construction and advance payments | 27 | €112,992 | €0 | -€112,992 | -100% |
| Current assets | 29/58 | €711,253 | €613,975 | -€97,278 | -13.7% |
| Amounts receivable within one year | 40/41 | €13,646 | €16,169 | +€2,523 | +18.5% |
| Trade receivables | 40 | €12,965 | €15,852 | +€2,888 | +22.3% |
| Other amounts receivable | 41 | €682 | €317 | -€365 | -53.5% |
| Current investments | 50/53 | €398,252 | €459,056 | +€60,805 | +15.3% |
| Cash at bank and in hand | 54/58 | €293,180 | €131,762 | -€161,419 | -55.1% |
| Deferred charges and accrued income | 490/1 | €6,175 | €6,988 | +€813 | +13.2% |
| Total equity and liabilities | 10/49 | €899,480 | €943,723 | +€44,243 | +4.9% |
| Equity | 10/15 | €826,906 | €863,304 | +€36,398 | +4.4% |
| Contributions | 10/11 | €95,000 | €95,000 | = | 0.0% |
| Reserves | 13 | €731,906 | €768,304 | +€36,398 | +5.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €713,156 | €749,554 | +€36,398 | +5.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €72,574 | €80,419 | +€7,845 | +10.8% |
| Amounts payable within one year | 42/48 | €72,574 | €80,419 | +€7,845 | +10.8% |
| Financial debts | 43 | €10,443 | €11,730 | +€1,287 | +12.3% |
| Credit institutions | 430/8 | €10,443 | €11,730 | +€1,287 | +12.3% |
| Trade debts | 44 | €2,925 | €5,285 | +€2,359 | +80.6% |
| Suppliers | 440/4 | €2,925 | €5,285 | +€2,359 | +80.6% |
| Taxes, remuneration and social security | 45 | €51,955 | €13,104 | -€38,851 | -74.8% |
| Taxes | 450/3 | €51,955 | €13,104 | -€38,851 | -74.8% |
| Other amounts payable | 47/48 | €7,250 | €50,300 | +€43,050 | +594% |
| Remuneration, social security and pensions | 62 | €278 | €241 | -€37 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,463 | €19,066 | +€13,602 | +249% |
| Other operating charges | 640/8 | €982 | €1,937 | +€955 | +97.3% |
| Gross operating margin | 9900 | €213,005 | €81,350 | -€131,655 | -61.8% |
| Operating profit (loss) | 9901 | €206,282 | €60,107 | -€146,175 | -70.9% |
| Financial income | 75/76B | €6,965 | €49,987 | +€43,022 | +618% |
| Recurring financial income | 75 | €6,965 | €49,987 | +€43,022 | +618% |
| Financial charges | 65/66B | -€12,360 | €1,508 | +€13,868 | |
| Recurring financial charges | 65 | -€12,360 | €1,508 | +€13,868 | |
| Profit (loss) for the period before taxes | 9903 | €225,607 | €108,586 | -€117,021 | -51.9% |
| Income taxes | 67/77 | €69,439 | €21,888 | -€47,551 | -68.5% |
| Profit (loss) for the period | 9904 | €156,169 | €86,698 | -€69,470 | -44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €156,169 | €86,698 | -€69,470 | -44.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.