Hera Projects: 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.
Hera Projects
Largest movements
- Financial fixed assets +€170,000
new in 2025: €170,000
- Cash +€18,426
up €18,426 (+64.1%), from €28,727 to €47,153
mainly Debts after one year (+€156,547) and Net result for the year (+€33,314)
- Tangible fixed assets +€5,160
up €5,160 (+3.6%), from €141,937 to €147,097
of which Other tangible fixed assets: +€14,942
- Receivables within one year -€5,085
down €5,085 (-12.7%), from €40,084 to €34,999
of which Other amounts receivable: -€7,254
- Debts after one year +€156,547
up €156,547 (+213%), from €73,349 to €229,896
of which Financial debts: +€119,030
- Other debts -€47,479
down €47,479 (-95.7%), from €49,625 to €2,146
- Reserves +€33,314
up €33,314 (+62.8%), from €53,017 to €86,330
- Tax, wage and social debts +€22,431
up €22,431 (+114%), from €19,715 to €42,146
of which Taxes: +€22,431
- Current portion of long-term debt +€19,754
up €19,754 (+246%), from €8,040 to €27,794
- Gross operating margin +€24,518
up €24,518 (+50.9%), from €48,125 to €72,643
- Financial charges +€6,318
up €6,318 (+297%), from €2,126 to €8,444
- Taxes +€5,401
up €5,401 (+40.8%), from €13,242 to €18,643
- Depreciation +€2,120
up €2,120 (+48.0%), from €4,419 to €6,539
- Other operating charges +€1,266
up €1,266 (+252%), from €503 to €1,768
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.
Derived cash bridge
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 | €210,748 | €402,689 | +€191,941 | +91.1% |
| Fixed assets | 21/28 | €141,937 | €317,097 | +€175,160 | +123% |
| Tangible fixed assets | 22/27 | €141,937 | €147,097 | +€5,160 | +3.6% |
| Land and buildings | 22 | €140,263 | €130,530 | -€9,733 | -6.9% |
| Plant, machinery and equipment | 23 | €1,674 | €1,625 | -€49 | -3.0% |
| Other tangible fixed assets | 26 | - | €14,942 | +€14,942 | |
| Financial fixed assets | 28 | - | €170,000 | +€170,000 | |
| Current assets | 29/58 | €68,811 | €85,592 | +€16,781 | +24.4% |
| Stocks and contracts in progress | 3 | - | €1,374 | +€1,374 | |
| Stocks | 30/36 | - | €1,374 | +€1,374 | |
| Amounts receivable within one year | 40/41 | €40,084 | €34,999 | -€5,085 | -12.7% |
| Trade receivables | 40 | €32,830 | €34,999 | +€2,169 | +6.6% |
| Other amounts receivable | 41 | €7,254 | €0 | -€7,254 | -100% |
| Cash at bank and in hand | 54/58 | €28,727 | €47,153 | +€18,426 | +64.1% |
| Deferred charges and accrued income | 490/1 | - | €2,065 | +€2,065 | |
| Total equity and liabilities | 10/49 | €210,748 | €402,689 | +€191,941 | +91.1% |
| Equity | 10/15 | €54,517 | €87,830 | +€33,314 | +61.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €53,017 | €86,330 | +€33,314 | +62.8% |
| Distributable reserves | 133 | €53,017 | €86,330 | +€33,314 | +62.8% |
| Amounts payable | 17/49 | €156,232 | €314,859 | +€158,627 | +102% |
| Amounts payable after more than one year | 17 | €73,349 | €229,896 | +€156,547 | +213% |
| Financial debts | 170/4 | €73,349 | €192,379 | +€119,030 | +162% |
| Other amounts payable | 178/9 | - | €37,517 | +€37,517 | |
| Amounts payable within one year | 42/48 | €82,883 | €82,517 | -€365 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €8,040 | €27,794 | +€19,754 | +246% |
| Trade debts | 44 | €5,503 | €10,431 | +€4,928 | +89.6% |
| Suppliers | 440/4 | €5,503 | €10,431 | +€4,928 | +89.6% |
| Taxes, remuneration and social security | 45 | €19,715 | €42,146 | +€22,431 | +114% |
| Taxes | 450/3 | €13,500 | €35,931 | +€22,431 | +166% |
| Remuneration and social security | 454/9 | €6,215 | €6,215 | = | 0.0% |
| Other amounts payable | 47/48 | €49,625 | €2,146 | -€47,479 | -95.7% |
| Accrued charges and deferred income | 492/3 | - | €2,446 | +€2,446 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,419 | €6,539 | +€2,120 | +48.0% |
| Other operating charges | 640/8 | €503 | €1,768 | +€1,266 | +252% |
| Non-recurring operating charges | 66A | - | €3,960 | +€3,960 | |
| Gross operating margin | 9900 | €48,125 | €72,643 | +€24,518 | +50.9% |
| Operating profit (loss) | 9901 | €43,203 | €60,375 | +€17,172 | +39.7% |
| Financial income | 75/76B | €0 | €26 | +€26 | |
| Recurring financial income | 75 | €0 | €26 | +€26 | |
| Financial charges | 65/66B | €2,126 | €8,444 | +€6,318 | +297% |
| Recurring financial charges | 65 | €2,126 | €8,444 | +€6,318 | +297% |
| Profit (loss) for the period before taxes | 9903 | €41,077 | €51,957 | +€10,880 | +26.5% |
| Income taxes | 67/77 | €13,242 | €18,643 | +€5,401 | +40.8% |
| Profit (loss) for the period | 9904 | €27,835 | €33,314 | +€5,479 | +19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,835 | €33,314 | +€5,479 | +19.7% |
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 17 October 2026 via checked.be.