Hera-M: 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.
What changed
Hera-M
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€47,059
2024 · -€9,570+€56,629
Equity
€537,490
2024 · €490,430+€47,059
Cash
€38,705
2024 · €10,268+€28,436
Balance sheet total
€3.4m
2024 · €3.3m+€109,219
Largest movements
Assets
- Tangible fixed assets +€47,509
new in 2025: €47,509
Equity and liabilities
- Profit (loss) carried forward +€47,059
up €47,059, from -€9,570 to €37,490
Income statement
- Gross operating margin +€68,621
up €68,621 (+11957.3%), from €574 to €69,195
- Taxes +€12,565
new in 2025: €12,565
- Financial charges -€3,317
down €3,317 (-32.7%), from €10,143 to €6,826
- Depreciation +€2,692
new in 2025: €2,692
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.
Result 2024
-€9,570
Gross operating margin
+€68,621
Depreciation
-€2,692
Other operating charges
-€387
Financial income
+€335
Financial charges
+€3,317
Taxes
-€12,565
Result 2025
€47,059
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.
From operations
+€34,825
Investment
-€50,201
Financing
+€43,812
Cash 2024
€10,268
From operations (derived)
+€34,825
Net result for the year
+€47,059
Depreciation
+€2,692
Receivables within one year
-€33,274
Trade debts
+€183
Tax, wage and social debts
+€16,231
Other debts
-€4,500
Accrued charges and deferred income
+€6,434
Investment (derived)
-€50,201
Investment in fixed assets (net)
-€50,201
Financing
+€43,812
Debts after one year
+€29,290
Current portion of long-term debt
+€14,523
Cash 2025
€38,705
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,274,919 | €3,384,138 | +€109,219 | +3.3% |
| Fixed assets | 21/28 | €3,263,939 | €3,311,448 | +€47,509 | +1.5% |
| Tangible fixed assets | 22/27 | - | €47,509 | +€47,509 | |
| Furniture and vehicles | 24 | - | €47,509 | +€47,509 | |
| Financial fixed assets | 28 | €3,263,939 | €3,263,939 | = | 0.0% |
| Current assets | 29/58 | €10,980 | €72,690 | +€61,710 | +562.0% |
| Amounts receivable within one year | 40/41 | €712 | €33,985 | +€33,274 | +4675.8% |
| Trade receivables | 40 | - | €18,150 | +€18,150 | |
| Other amounts receivable | 41 | €712 | €15,835 | +€15,124 | +2125.3% |
| Cash at bank and in hand | 54/58 | €10,268 | €38,705 | +€28,436 | +276.9% |
| Total equity and liabilities | 10/49 | €3,274,919 | €3,384,138 | +€109,219 | +3.3% |
| Equity | 10/15 | €490,430 | €537,490 | +€47,059 | +9.6% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,570 | €37,490 | +€47,059 | |
| Amounts payable | 17/49 | €2,784,489 | €2,846,648 | +€62,160 | +2.2% |
| Amounts payable after more than one year | 17 | €2,663,939 | €2,693,229 | +€29,290 | +1.1% |
| Financial debts | 170/4 | €2,663,939 | €2,693,229 | +€29,290 | +1.1% |
| Amounts payable within one year | 42/48 | €110,719 | €137,155 | +€26,437 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | - | €14,523 | +€14,523 | |
| Trade debts | 44 | €104 | €287 | +€183 | +175.6% |
| Suppliers | 440/4 | €104 | €287 | +€183 | +175.6% |
| Taxes, remuneration and social security | 45 | €6,114 | €22,345 | +€16,231 | +265.5% |
| Taxes | 450/3 | - | €16,253 | +€16,253 | |
| Remuneration and social security | 454/9 | €6,114 | €6,093 | -€22 | -0.4% |
| Other amounts payable | 47/48 | €104,500 | €100,000 | -€4,500 | -4.3% |
| Accrued charges and deferred income | 492/3 | €9,831 | €16,265 | +€6,434 | +65.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,692 | +€2,692 | |
| Other operating charges | 640/8 | - | €387 | +€387 | |
| Gross operating margin | 9900 | €574 | €69,195 | +€68,621 | +11957.3% |
| Operating profit (loss) | 9901 | €574 | €66,115 | +€65,541 | +11420.7% |
| Financial income | 75/76B | - | €335 | +€335 | |
| Recurring financial income | 75 | - | €335 | +€335 | |
| Financial charges | 65/66B | €10,143 | €6,826 | -€3,317 | -32.7% |
| Recurring financial charges | 65 | €10,143 | €6,826 | -€3,317 | -32.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,570 | €59,624 | +€69,194 | |
| Income taxes | 67/77 | - | €12,565 | +€12,565 | |
| Profit (loss) for the period | 9904 | -€9,570 | €47,059 | +€56,629 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,570 | €47,059 | +€56,629 |
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 8 October 2026 via checked.be.