HERBAKEY: 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.
HERBAKEY
Largest movements
- Stocks and contracts +€30,537
up €30,537 (+240.2%), from €12,713 to €43,250
- Cash -€19,479
down €19,479 (-85.0%), from €22,912 to €3,433
mainly Stocks and contracts (-€30,537) and Receivables within one year (-€4,600)
- Receivables within one year +€4,600
up €4,600 (+26.7%), from €17,205 to €21,805
of which Trade receivables: +€3,997
- Trade debts +€11,446
up €11,446 (+63.3%), from €18,087 to €29,533
- Profit (loss) carried forward +€2,988
up €2,988 (+15.5%), from €19,338 to €22,326
- Tax, wage and social debts +€880
up €880 (+18.0%), from €4,899 to €5,779
- Accrued charges and deferred income +€859
new in 2025: €859
- Gross operating margin -€28,293
down €28,293 (-78.6%), from €36,006 to €7,713
- Other operating charges -€6,734
down €6,734 (-64.8%), from €10,399 to €3,665
- Taxes -€4,020
down €4,020 (-82.0%), from €4,899 to €880
- Depreciation -€1,661
down €1,661 (-94.9%), from €1,751 to €90
- Financial income -€418
down €418 (-99.8%), from €419 to €1
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 | €55,811 | €71,985 | +€16,174 | +29.0% |
| Fixed assets | 21/28 | €2,848 | €3,377 | +€530 | +18.6% |
| Intangible fixed assets | 21 | €848 | €758 | -€90 | -10.6% |
| Financial fixed assets | 28 | €2,000 | €2,620 | +€620 | +31.0% |
| Current assets | 29/58 | €52,963 | €68,608 | +€15,645 | +29.5% |
| Stocks and contracts in progress | 3 | €12,713 | €43,250 | +€30,537 | +240.2% |
| Stocks | 30/36 | €12,713 | €43,250 | +€30,537 | +240.2% |
| Amounts receivable within one year | 40/41 | €17,205 | €21,805 | +€4,600 | +26.7% |
| Trade receivables | 40 | €16,769 | €20,766 | +€3,997 | +23.8% |
| Other amounts receivable | 41 | €437 | €1,039 | +€603 | +138.1% |
| Cash at bank and in hand | 54/58 | €22,912 | €3,433 | -€19,479 | -85.0% |
| Deferred charges and accrued income | 490/1 | €133 | €120 | -€13 | -10.0% |
| Total equity and liabilities | 10/49 | €55,811 | €71,985 | +€16,174 | +29.0% |
| Equity | 10/15 | €22,338 | €25,326 | +€2,988 | +13.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,338 | €22,326 | +€2,988 | +15.5% |
| Amounts payable | 17/49 | €33,473 | €46,659 | +€13,186 | +39.4% |
| Amounts payable within one year | 42/48 | €33,473 | €45,801 | +€12,327 | +36.8% |
| Trade debts | 44 | €18,087 | €29,533 | +€11,446 | +63.3% |
| Suppliers | 440/4 | €18,087 | €29,533 | +€11,446 | +63.3% |
| Taxes, remuneration and social security | 45 | €4,899 | €5,779 | +€880 | +18.0% |
| Taxes | 450/3 | €4,899 | €5,779 | +€880 | +18.0% |
| Other amounts payable | 47/48 | €10,487 | €10,489 | +€2 | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €859 | +€859 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,751 | €90 | -€1,661 | -94.9% |
| Other operating charges | 640/8 | €10,399 | €3,665 | -€6,734 | -64.8% |
| Gross operating margin | 9900 | €36,006 | €7,713 | -€28,293 | -78.6% |
| Operating profit (loss) | 9901 | €23,856 | €3,959 | -€19,897 | -83.4% |
| Financial income | 75/76B | €419 | €1 | -€418 | -99.8% |
| Recurring financial income | 75 | €419 | €1 | -€418 | -99.8% |
| Financial charges | 65/66B | €38 | €92 | +€54 | +140.9% |
| Recurring financial charges | 65 | €38 | €92 | +€54 | +140.9% |
| Profit (loss) for the period before taxes | 9903 | €24,237 | €3,868 | -€20,369 | -84.0% |
| Income taxes | 67/77 | €4,899 | €880 | -€4,020 | -82.0% |
| Profit (loss) for the period | 9904 | €19,338 | €2,988 | -€16,350 | -84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,338 | €2,988 | -€16,350 | -84.5% |
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 10 October 2026 via checked.be.