Heran Partners: 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 Partners
Largest movements
- Receivables within one year +€52,453
up €52,453 (+7.0%), from €749,598 to €802,051
of which Trade receivables: +€77,179
- Current investments +€25,000
up €25,000 (+6.7%), from €375,000 to €400,000
- Cash +€16,699
up €16,699 (+13.6%), from €122,852 to €139,551
mainly Other debts (+€784,800) and Net result for the year (+€75,320)
- Other debts +€784,800
up €784,800 (+28,029%), from €2,800 to €787,600
- Profit (loss) carried forward -€730,280
down €730,280 (-63.5%), from €1.2m to €420,279
- Tax, wage and social debts +€23,643
up €23,643 (+219%), from €10,810 to €34,453
of which Taxes: +€17,578
- Gross operating margin +€153,213
up €153,213 (+143%), from €107,348 to €260,561
- Staff costs +€61,130
up €61,130 (+68.9%), from €88,774 to €149,904
- Taxes +€42,645
up €42,645, from -€15,541 to €27,103
- Other operating charges +€34,544
up €34,544 (+1,307%), from €2,642 to €37,187
- Financial income +€18,771
up €18,771 (+163%), from €11,511 to €30,282
of which Non-recurring financial income: +€23,994
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 | €1,276,024 | €1,356,901 | +€80,877 | +6.3% |
| Fixed assets | 21/28 | €21,150 | €8,350 | -€12,800 | -60.5% |
| Financial fixed assets | 28 | €21,150 | €8,350 | -€12,800 | -60.5% |
| Current assets | 29/58 | €1,254,874 | €1,348,551 | +€93,677 | +7.5% |
| Amounts receivable within one year | 40/41 | €749,598 | €802,051 | +€52,453 | +7.0% |
| Trade receivables | 40 | €724,872 | €802,051 | +€77,179 | +10.6% |
| Other amounts receivable | 41 | €24,726 | €0 | -€24,726 | -100% |
| Current investments | 50/53 | €375,000 | €400,000 | +€25,000 | +6.7% |
| Cash at bank and in hand | 54/58 | €122,852 | €139,551 | +€16,699 | +13.6% |
| Deferred charges and accrued income | 490/1 | €7,424 | €6,949 | -€475 | -6.4% |
| Total equity and liabilities | 10/49 | €1,276,024 | €1,356,901 | +€80,877 | +6.3% |
| Equity | 10/15 | €1,175,559 | €445,279 | -€730,280 | -62.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,150,559 | €420,279 | -€730,280 | -63.5% |
| Amounts payable | 17/49 | €100,465 | €911,621 | +€811,157 | +807% |
| Amounts payable within one year | 42/48 | €85,943 | €905,681 | +€819,738 | +954% |
| Trade debts | 44 | €72,333 | €83,628 | +€11,295 | +15.6% |
| Suppliers | 440/4 | €72,333 | €83,628 | +€11,295 | +15.6% |
| Taxes, remuneration and social security | 45 | €10,810 | €34,453 | +€23,643 | +219% |
| Taxes | 450/3 | €672 | €18,250 | +€17,578 | +2,616% |
| Remuneration and social security | 454/9 | €10,138 | €16,203 | +€6,065 | +59.8% |
| Other amounts payable | 47/48 | €2,800 | €787,600 | +€784,800 | +28,029% |
| Accrued charges and deferred income | 492/3 | €14,522 | €5,941 | -€8,581 | -59.1% |
| Remuneration, social security and pensions | 62 | €88,774 | €149,904 | +€61,130 | +68.9% |
| Other operating charges | 640/8 | €2,642 | €37,187 | +€34,544 | +1,307% |
| Gross operating margin | 9900 | €107,348 | €260,561 | +€153,213 | +143% |
| Operating profit (loss) | 9901 | €15,932 | €73,471 | +€57,539 | +361% |
| Financial income | 75/76B | €11,511 | €30,282 | +€18,771 | +163% |
| Recurring financial income | 75 | €11,511 | €6,288 | -€5,223 | -45.4% |
| Non-recurring financial income | 76B | - | €23,994 | +€23,994 | |
| Financial charges | 65/66B | €1,515 | €1,329 | -€186 | -12.2% |
| Recurring financial charges | 65 | €1,515 | €1,329 | -€186 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €25,928 | €102,424 | +€76,495 | +295% |
| Income taxes | 67/77 | -€15,541 | €27,103 | +€42,645 | |
| Profit (loss) for the period | 9904 | €41,470 | €75,320 | +€33,851 | +81.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,470 | €75,320 | +€33,851 | +81.6% |
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 13 October 2026 via checked.be.