HERAKLEZ: 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.
HERAKLEZ
Largest movements
- Cash +€140,789
up €140,789 (+183.8%), from €76,590 to €217,379
mainly Other debts (+€127,216) and Net result for the year (+€102,920)
- Current investments -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Receivables after one year -€36,200
down €36,200 (-69.6%), from €52,000 to €15,800
- Receivables within one year +€26,127
up €26,127, from €0 to €26,127
of which Trade receivables: +€24,200
- Tangible fixed assets +€17,269
new in 2025: €17,269
- Other debts +€127,216
up €127,216 (+147873.8%), from €86 to €127,302
- Reserves -€72,986
down €72,986 (-41.5%), from €175,906 to €102,920
- Tax, wage and social debts -€12,699
down €12,699 (-25.8%), from €49,307 to €36,608
- Accrued charges and deferred income +€4,510
new in 2025: €4,510
- Gross operating margin +€39,148
up €39,148 (+39.3%), from €99,566 to €138,714
- Taxes +€8,587
up €8,587 (+41.8%), from €20,546 to €29,133
- Financial charges +€4,805
up €4,805 (+123.1%), from €3,904 to €8,709
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 | €231,896 | €278,258 | +€46,361 | +20.0% |
| Fixed assets | 21/28 | - | €17,269 | +€17,269 | |
| Tangible fixed assets | 22/27 | - | €17,269 | +€17,269 | |
| Other tangible fixed assets | 26 | - | €17,269 | +€17,269 | |
| Current assets | 29/58 | €231,896 | €260,988 | +€29,092 | +12.5% |
| Amounts receivable after more than one year | 29 | €52,000 | €15,800 | -€36,200 | -69.6% |
| Other amounts receivable | 291 | €52,000 | €15,800 | -€36,200 | -69.6% |
| Amounts receivable within one year | 40/41 | €0 | €26,127 | +€26,127 | |
| Trade receivables | 40 | €0 | €24,200 | +€24,200 | |
| Other amounts receivable | 41 | - | €1,927 | +€1,927 | |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €76,590 | €217,379 | +€140,789 | +183.8% |
| Deferred charges and accrued income | 490/1 | €3,306 | €1,682 | -€1,624 | -49.1% |
| Total equity and liabilities | 10/49 | €231,896 | €278,258 | +€46,361 | +20.0% |
| Equity | 10/15 | €180,906 | €107,920 | -€72,986 | -40.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €175,906 | €102,920 | -€72,986 | -41.5% |
| Distributable reserves | 133 | €175,906 | €102,920 | -€72,986 | -41.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €50,990 | €170,337 | +€119,347 | +234.1% |
| Amounts payable within one year | 42/48 | €50,990 | €165,828 | +€114,838 | +225.2% |
| Trade debts | 44 | €1,597 | €1,917 | +€321 | +20.1% |
| Suppliers | 440/4 | €1,597 | €1,917 | +€321 | +20.1% |
| Taxes, remuneration and social security | 45 | €49,307 | €36,608 | -€12,699 | -25.8% |
| Taxes | 450/3 | €49,307 | €36,608 | -€12,699 | -25.8% |
| Other amounts payable | 47/48 | €86 | €127,302 | +€127,216 | +147873.8% |
| Accrued charges and deferred income | 492/3 | - | €4,510 | +€4,510 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €756 | +€756 | |
| Other operating charges | 640/8 | €643 | €731 | +€88 | +13.7% |
| Gross operating margin | 9900 | €99,566 | €138,714 | +€39,148 | +39.3% |
| Operating profit (loss) | 9901 | €98,923 | €137,227 | +€38,304 | +38.7% |
| Financial income | 75/76B | €2,762 | €3,535 | +€774 | +28.0% |
| Recurring financial income | 75 | €2,762 | €3,535 | +€774 | +28.0% |
| Financial charges | 65/66B | €3,904 | €8,709 | +€4,805 | +123.1% |
| Recurring financial charges | 65 | €3,904 | €8,709 | +€4,805 | +123.1% |
| Profit (loss) for the period before taxes | 9903 | €97,780 | €132,054 | +€34,273 | +35.1% |
| Income taxes | 67/77 | €20,546 | €29,133 | +€8,587 | +41.8% |
| Profit (loss) for the period | 9904 | €77,234 | €102,920 | +€25,686 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €77,234 | €102,920 | +€25,686 | +33.3% |
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 3 October 2026 via checked.be.