HERACON: 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.
HERACON
Largest movements
- Cash -€13,628
down €13,628 (-53.1%), from €25,679 to €12,051
mainly Investment in fixed assets (net) (-€43,306) and Receivables within one year (-€11,579)
- Receivables within one year +€11,579
up €11,579 (+23.8%), from €48,668 to €60,247
of which Trade receivables: +€8,921
- Tangible fixed assets +€6,838
up €6,838 (+3.4%), from €199,627 to €206,464
of which Land and buildings: +€11,111
- Tax, wage and social debts -€9,247
down €9,247 (-34.3%), from €26,939 to €17,692
of which Taxes: -€8,347
- Other debts +€7,304
up €7,304 (+5.1%), from €144,536 to €151,840
- Trade debts +€5,724
up €5,724 (+323%), from €1,770 to €7,494
- Gross operating margin -€28,359
down €28,359 (-21.7%), from €130,487 to €102,128
- Depreciation +€6,865
up €6,865 (+23.2%), from €29,603 to €36,468
- Taxes -€6,434
down €6,434 (-82.7%), from €7,776 to €1,342
- Staff costs +€3,927
up €3,927 (+7.0%), from €56,254 to €60,181
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 | €273,974 | €278,762 | +€4,788 | +1.7% |
| Fixed assets | 21/28 | €199,627 | €206,464 | +€6,838 | +3.4% |
| Tangible fixed assets | 22/27 | €199,627 | €206,464 | +€6,838 | +3.4% |
| Land and buildings | 22 | €191,835 | €202,946 | +€11,111 | +5.8% |
| Furniture and vehicles | 24 | €7,792 | €3,519 | -€4,273 | -54.8% |
| Current assets | 29/58 | €74,347 | €72,298 | -€2,049 | -2.8% |
| Amounts receivable within one year | 40/41 | €48,668 | €60,247 | +€11,579 | +23.8% |
| Trade receivables | 40 | €48,668 | €57,589 | +€8,921 | +18.3% |
| Other amounts receivable | 41 | - | €2,658 | +€2,658 | |
| Cash at bank and in hand | 54/58 | €25,679 | €12,051 | -€13,628 | -53.1% |
| Total equity and liabilities | 10/49 | €273,974 | €278,762 | +€4,788 | +1.7% |
| Equity | 10/15 | €100,479 | €101,486 | +€1,007 | +1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €81,879 | €82,886 | +€1,007 | +1.2% |
| Tax-exempt reserves | 132 | €18,308 | €18,308 | = | 0.0% |
| Distributable reserves | 133 | €63,571 | €64,578 | +€1,007 | +1.6% |
| Amounts payable | 17/49 | €173,495 | €177,276 | +€3,781 | +2.2% |
| Amounts payable within one year | 42/48 | €173,245 | €177,026 | +€3,781 | +2.2% |
| Trade debts | 44 | €1,770 | €7,494 | +€5,724 | +323% |
| Suppliers | 440/4 | €1,770 | €7,494 | +€5,724 | +323% |
| Taxes, remuneration and social security | 45 | €26,939 | €17,692 | -€9,247 | -34.3% |
| Taxes | 450/3 | €14,635 | €6,288 | -€8,347 | -57.0% |
| Remuneration and social security | 454/9 | €12,304 | €11,404 | -€900 | -7.3% |
| Other amounts payable | 47/48 | €144,536 | €151,840 | +€7,304 | +5.1% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €56,254 | €60,181 | +€3,927 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,603 | €36,468 | +€6,865 | +23.2% |
| Other operating charges | 640/8 | €2,017 | €3,048 | +€1,031 | +51.1% |
| Gross operating margin | 9900 | €130,487 | €102,128 | -€28,359 | -21.7% |
| Operating profit (loss) | 9901 | €42,613 | €2,431 | -€40,182 | -94.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | +900% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +900% |
| Financial charges | 65/66B | €21 | €82 | +€61 | +297% |
| Recurring financial charges | 65 | €21 | €82 | +€61 | +297% |
| Profit (loss) for the period before taxes | 9903 | €42,592 | €2,349 | -€40,243 | -94.5% |
| Income taxes | 67/77 | €7,776 | €1,342 | -€6,434 | -82.7% |
| Profit (loss) for the period | 9904 | €34,817 | €1,007 | -€33,809 | -97.1% |
| Transfer to tax-exempt reserves | 689 | €7,794 | - | -€7,794 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,022 | €1,007 | -€26,015 | -96.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.