HERACLES ADJUNCTS: 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.
HERACLES ADJUNCTS
Largest movements
- Tangible fixed assets +€53,358
up €53,358 (+89.5%), from €59,640 to €112,998
of which Furniture and vehicles: +€52,525
- Current investments +€30,229
up €30,229 (+28.1%), from €107,500 to €137,729
- Cash -€17,823
down €17,823 (-69.3%), from €25,715 to €7,892
mainly Investment in fixed assets (net) (-€77,286) and Contributions, distributions and other (-€69,412)
- Deferred charges and accrued income +€5,136
up €5,136 (+346.9%), from €1,481 to €6,617
- Debts after one year +€28,921
up €28,921, from €0 to €28,921
- Tax, wage and social debts +€23,825
up €23,825 (+377.5%), from €6,312 to €30,136
of which Taxes: +€18,124
- Reserves +€14,553
up €14,553 (+5.7%), from €257,183 to €271,736
- Current portion of long-term debt +€6,045
up €6,045 (+174.1%), from €3,472 to €9,517
- Gross operating margin +€28,760
up €28,760 (+23.2%), from €124,116 to €152,876
- Staff costs +€20,276
up €20,276, from -€129 to €20,148
- Depreciation +€6,407
up €6,407 (+36.6%), from €17,520 to €23,928
- Taxes +€2,392
up €2,392 (+10.4%), from €23,016 to €25,408
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 | €282,501 | €352,529 | +€70,028 | +24.8% |
| Fixed assets | 21/28 | €59,640 | €112,998 | +€53,358 | +89.5% |
| Tangible fixed assets | 22/27 | €59,640 | €112,998 | +€53,358 | +89.5% |
| Plant, machinery and equipment | 23 | €1,171 | €2,005 | +€833 | +71.1% |
| Furniture and vehicles | 24 | €58,468 | €110,993 | +€52,525 | +89.8% |
| Current assets | 29/58 | €222,861 | €239,531 | +€16,670 | +7.5% |
| Amounts receivable within one year | 40/41 | €88,166 | €87,294 | -€872 | -1.0% |
| Trade receivables | 40 | €45,585 | €82,339 | +€36,753 | +80.6% |
| Other amounts receivable | 41 | €42,580 | €4,955 | -€37,626 | -88.4% |
| Current investments | 50/53 | €107,500 | €137,729 | +€30,229 | +28.1% |
| Cash at bank and in hand | 54/58 | €25,715 | €7,892 | -€17,823 | -69.3% |
| Deferred charges and accrued income | 490/1 | €1,481 | €6,617 | +€5,136 | +346.9% |
| Total equity and liabilities | 10/49 | €282,501 | €352,529 | +€70,028 | +24.8% |
| Equity | 10/15 | €267,183 | €281,736 | +€14,553 | +5.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €257,183 | €271,736 | +€14,553 | +5.7% |
| Distributable reserves | 133 | €257,183 | €271,736 | +€14,553 | +5.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €15,318 | €70,793 | +€55,475 | +362.2% |
| Amounts payable after more than one year | 17 | €0 | €28,921 | +€28,921 | |
| Financial debts | 170/4 | €0 | €28,921 | +€28,921 | |
| Amounts payable within one year | 42/48 | €15,318 | €41,872 | +€26,554 | +173.4% |
| Current portion of amounts payable after more than one year | 42 | €3,472 | €9,517 | +€6,045 | +174.1% |
| Trade debts | 44 | €5,534 | €2,219 | -€3,316 | -59.9% |
| Suppliers | 440/4 | €5,534 | €2,219 | -€3,316 | -59.9% |
| Taxes, remuneration and social security | 45 | €6,312 | €30,136 | +€23,825 | +377.5% |
| Taxes | 450/3 | €4,439 | €22,563 | +€18,124 | +408.3% |
| Remuneration and social security | 454/9 | €1,873 | €7,573 | +€5,701 | +304.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | -€129 | €20,148 | +€20,276 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,520 | €23,928 | +€6,407 | +36.6% |
| Other operating charges | 640/8 | €718 | €342 | -€377 | -52.4% |
| Non-recurring operating charges | 66A | €3,541 | €0 | -€3,541 | -100.0% |
| Gross operating margin | 9900 | €124,116 | €152,876 | +€28,760 | +23.2% |
| Operating profit (loss) | 9901 | €102,465 | €108,458 | +€5,993 | +5.8% |
| Financial income | 75/76B | €480 | €1,551 | +€1,071 | +223.0% |
| Recurring financial income | 75 | €480 | €1,551 | +€1,071 | +223.0% |
| Financial charges | 65/66B | €392 | €637 | +€245 | +62.6% |
| Recurring financial charges | 65 | €392 | €637 | +€245 | +62.6% |
| Profit (loss) for the period before taxes | 9903 | €102,554 | €109,373 | +€6,819 | +6.6% |
| Income taxes | 67/77 | €23,016 | €25,408 | +€2,392 | +10.4% |
| Profit (loss) for the period | 9904 | €79,538 | €83,965 | +€4,427 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €79,538 | €83,965 | +€4,427 | +5.6% |
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 29 September 2026 via checked.be.