HERAMEL: 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.
HERAMEL
Largest movements
- Cash +€66,076
up €66,076 (+553.0%), from €11,950 to €78,026
mainly Net result for the year (+€54,584) and Depreciation (+€12,396)
- Deferred charges and accrued income -€8,696
down €8,696 (-71.4%), from €12,181 to €3,485
- Tangible fixed assets -€7,280
down €7,280 (-28.7%), from €25,334 to €18,053
of which Furniture and vehicles: -€6,529
- Intangible fixed assets -€2,000
down €2,000 (-17.4%), from €11,507 to €9,507
- Receivables within one year -€1,703
down €1,703 (-12.4%), from €13,768 to €12,065
of which Trade receivables: -€1,280
- Reserves +€56,000
up €56,000 (+224.0%), from €25,000 to €81,000
- Trade debts -€3,686
down €3,686 (-39.6%), from €9,313 to €5,627
- Accrued charges and deferred income -€1,626
down €1,626 (-66.6%), from €2,443 to €817
- Profit (loss) carried forward -€1,416
down €1,416 (-81.7%), from €1,733 to €317
- Staff costs -€50,923
down €50,923 (-34.0%), from €149,951 to €99,028
- Gross operating margin +€32,766
up €32,766 (+22.8%), from €143,616 to €176,381
- Taxes +€4,569
up €4,569, from -€2,842 to €1,727
- Other operating charges -€2,920
down €2,920 (-56.4%), from €5,174 to €2,255
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 | €79,860 | €126,972 | +€47,112 | +59.0% |
| Fixed assets | 21/28 | €36,841 | €27,560 | -€9,280 | -25.2% |
| Intangible fixed assets | 21 | €11,507 | €9,507 | -€2,000 | -17.4% |
| Tangible fixed assets | 22/27 | €25,334 | €18,053 | -€7,280 | -28.7% |
| Plant, machinery and equipment | 23 | €5,888 | €5,136 | -€752 | -12.8% |
| Furniture and vehicles | 24 | €19,446 | €12,917 | -€6,529 | -33.6% |
| Current assets | 29/58 | €43,020 | €99,412 | +€56,392 | +131.1% |
| Stocks and contracts in progress | 3 | €5,121 | €5,835 | +€714 | +13.9% |
| Stocks | 30/36 | €5,121 | €5,835 | +€714 | +13.9% |
| Amounts receivable within one year | 40/41 | €13,768 | €12,065 | -€1,703 | -12.4% |
| Trade receivables | 40 | €3,692 | €2,412 | -€1,280 | -34.7% |
| Other amounts receivable | 41 | €10,076 | €9,653 | -€423 | -4.2% |
| Cash at bank and in hand | 54/58 | €11,950 | €78,026 | +€66,076 | +553.0% |
| Deferred charges and accrued income | 490/1 | €12,181 | €3,485 | -€8,696 | -71.4% |
| Total equity and liabilities | 10/49 | €79,860 | €126,972 | +€47,112 | +59.0% |
| Equity | 10/15 | €41,733 | €96,317 | +€54,584 | +130.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €25,000 | €81,000 | +€56,000 | +224.0% |
| Distributable reserves | 133 | €25,000 | €81,000 | +€56,000 | +224.0% |
| Profit (loss) carried forward | 14 | €1,733 | €317 | -€1,416 | -81.7% |
| Amounts payable | 17/49 | €38,128 | €30,655 | -€7,473 | -19.6% |
| Amounts payable within one year | 42/48 | €35,685 | €29,839 | -€5,846 | -16.4% |
| Trade debts | 44 | €9,313 | €5,627 | -€3,686 | -39.6% |
| Suppliers | 440/4 | €9,313 | €5,627 | -€3,686 | -39.6% |
| Taxes, remuneration and social security | 45 | €16,462 | €15,554 | -€908 | -5.5% |
| Taxes | 450/3 | €2,062 | €2,717 | +€655 | +31.8% |
| Remuneration and social security | 454/9 | €14,400 | €12,837 | -€1,564 | -10.9% |
| Other amounts payable | 47/48 | €9,910 | €8,658 | -€1,252 | -12.6% |
| Accrued charges and deferred income | 492/3 | €2,443 | €817 | -€1,626 | -66.6% |
| Non-recurring operating income | 76A | €1,119 | €1,552 | +€433 | +38.7% |
| Remuneration, social security and pensions | 62 | €149,951 | €99,028 | -€50,923 | -34.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,116 | €12,396 | -€719 | -5.5% |
| Other operating charges | 640/8 | €5,174 | €2,255 | -€2,920 | -56.4% |
| Non-recurring operating charges | 66A | - | €54 | +€54 | |
| Gross operating margin | 9900 | €143,616 | €176,381 | +€32,766 | +22.8% |
| Operating profit (loss) | 9901 | -€24,626 | €62,648 | +€87,274 | |
| Financial income | 75/76B | €23 | €26 | +€3 | +11.7% |
| Recurring financial income | 75 | €23 | €26 | +€3 | +11.7% |
| Financial charges | 65/66B | €5,013 | €6,362 | +€1,350 | +26.9% |
| Recurring financial charges | 65 | €5,013 | €6,362 | +€1,350 | +26.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,615 | €56,312 | +€85,927 | |
| Income taxes | 67/77 | -€2,842 | €1,727 | +€4,569 | |
| Profit (loss) for the period | 9904 | -€26,774 | €54,584 | +€81,358 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,774 | €54,584 | +€81,358 |
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.