HERAN: 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.
HERAN
Largest movements
- Financial fixed assets +€542,756
up €542,756 (+15.4%), from €3.5m to €4.1m
- Receivables after one year +€300,469
up €300,469 (+129.4%), from €232,198 to €532,667
of which Trade receivables: +€532,667
- Debts after one year +€830,201
new in 2025: €830,201
- Financial charges +€18,599
up €18,599 (+10984.2%), from €169 to €18,768
- Gross operating margin -€7,745
down €7,745 (-96.5%), from -€8,025 to -€15,770
- Financial income -€3,984
down €3,984 (-10.4%), from €38,230 to €34,247
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 | €3,782,203 | €4,609,632 | +€827,429 | +21.9% |
| Fixed assets | 21/28 | €3,527,941 | €4,070,697 | +€542,756 | +15.4% |
| Financial fixed assets | 28 | €3,527,941 | €4,070,697 | +€542,756 | +15.4% |
| Current assets | 29/58 | €254,262 | €538,935 | +€284,673 | +112.0% |
| Amounts receivable after more than one year | 29 | €232,198 | €532,667 | +€300,469 | +129.4% |
| Trade receivables | 290 | - | €532,667 | +€532,667 | |
| Other amounts receivable | 291 | €232,198 | €0 | -€232,198 | -100.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €17,096 | €6,268 | -€10,827 | -63.3% |
| Deferred charges and accrued income | 490/1 | €4,969 | €0 | -€4,969 | -100.0% |
| Total equity and liabilities | 10/49 | €3,782,203 | €4,609,632 | +€827,429 | +21.9% |
| Equity | 10/15 | €3,778,641 | €3,777,231 | -€1,410 | 0.0% |
| Contributions | 10/11 | €1,550,000 | €1,550,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,228,641 | €2,227,231 | -€1,410 | -0.1% |
| Amounts payable | 17/49 | €3,563 | €832,401 | +€828,838 | +23265.6% |
| Amounts payable after more than one year | 17 | - | €830,201 | +€830,201 | |
| Financial debts | 170/4 | - | €830,201 | +€830,201 | |
| Amounts payable within one year | 42/48 | €3,563 | €2,200 | -€1,363 | -38.2% |
| Trade debts | 44 | €3,563 | €2,200 | -€1,363 | -38.2% |
| Suppliers | 440/4 | €3,563 | €2,200 | -€1,363 | -38.2% |
| Other operating charges | 640/8 | €1,086 | €1,118 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€8,025 | -€15,770 | -€7,745 | -96.5% |
| Operating profit (loss) | 9901 | -€9,110 | -€16,889 | -€7,778 | -85.4% |
| Financial income | 75/76B | €38,230 | €34,247 | -€3,984 | -10.4% |
| Recurring financial income | 75 | €38,230 | €34,247 | -€3,984 | -10.4% |
| Financial charges | 65/66B | €169 | €18,768 | +€18,599 | +10984.2% |
| Recurring financial charges | 65 | €169 | €18,768 | +€18,599 | +10984.2% |
| Profit (loss) for the period before taxes | 9903 | €28,951 | -€1,410 | -€30,360 | |
| Profit (loss) for the period | 9904 | €28,951 | -€1,410 | -€30,360 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,951 | -€1,410 | -€30,360 |
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 9 October 2026 via checked.be.