HERCA: what changed
What changed
HERCA
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
€38,371
2024 · -€644+€39,015
Equity
€603,160
2024 · €564,789+€38,371
Cash
€3,132
2024 · €4,956-€1,824
Balance sheet total
€1.3m
2024 · €1.3m+€52,054
Largest movements
Assets
- Receivables within one year +€54,310
up €54,310 (+32.3%), from €167,920 to €222,231
of which Other amounts receivable: +€36,160
Equity and liabilities
- Reserves +€37,726
up €37,726 (+6.9%), from €546,833 to €584,560
of which Distributable reserves: +€37,726
- Other debts +€13,256
up €13,256 (+7.2%), from €185,349 to €198,605
Income statement
- Gross operating margin +€47,939
up €47,939 (+216%), from €22,197 to €70,136
- Taxes +€7,681
up €7,681 (+2,951%), from €260 to €7,942
- Financial charges +€1,454
up €1,454 (+6.8%), from €21,253 to €22,707
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€644
Gross operating margin
+€47,939
Other operating charges
+€211
Financial income
+€0
Financial charges
-€1,454
Taxes
-€7,681
Result 2025
€38,371
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1,818
Investment
€0
Financing
-€6
Cash 2024
€4,956
From operations (derived)
-€1,818
Net result for the year
+€38,371
Receivables within one year
-€54,310
Deferred charges and accrued income
+€433
Trade debts
-€1,511
Tax, wage and social debts
+€1,944
Other debts
+€13,256
Financing
-€6
Short-term financial debts
-€6
Cash 2025
€3,132
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,262,433 | €1,314,486 | +€52,054 | +4.1% |
| Fixed assets | 21/28 | €1,089,123 | €1,089,123 | = | 0.0% |
| Financial fixed assets | 28 | €1,089,123 | €1,089,123 | = | 0.0% |
| Current assets | 29/58 | €173,309 | €225,363 | +€52,054 | +30.0% |
| Amounts receivable within one year | 40/41 | €167,920 | €222,231 | +€54,310 | +32.3% |
| Trade receivables | 40 | €0 | €18,150 | +€18,150 | |
| Other amounts receivable | 41 | €167,920 | €204,081 | +€36,160 | +21.5% |
| Cash at bank and in hand | 54/58 | €4,956 | €3,132 | -€1,824 | -36.8% |
| Deferred charges and accrued income | 490/1 | €433 | €0 | -€433 | -100% |
| Total equity and liabilities | 10/49 | €1,262,433 | €1,314,486 | +€52,054 | +4.1% |
| Equity | 10/15 | €564,789 | €603,160 | +€38,371 | +6.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €546,833 | €584,560 | +€37,726 | +6.9% |
| Tax-exempt reserves | 132 | €9,264 | €9,264 | = | 0.0% |
| Distributable reserves | 133 | €537,569 | €575,295 | +€37,726 | +7.0% |
| Profit (loss) carried forward | 14 | -€644 | €0 | +€644 | |
| Amounts payable | 17/49 | €697,644 | €711,327 | +€13,683 | +2.0% |
| Amounts payable after more than one year | 17 | €500,000 | €500,000 | = | 0.0% |
| Financial debts | 170/4 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €197,644 | €211,327 | +€13,683 | +6.9% |
| Financial debts | 43 | €2,030 | €2,025 | -€6 | -0.3% |
| Credit institutions | 430/8 | €2,030 | €2,025 | -€6 | -0.3% |
| Trade debts | 44 | €4,107 | €2,596 | -€1,511 | -36.8% |
| Suppliers | 440/4 | €4,107 | €2,596 | -€1,511 | -36.8% |
| Taxes, remuneration and social security | 45 | €6,157 | €8,101 | +€1,944 | +31.6% |
| Taxes | 450/3 | €6,157 | €6,351 | +€194 | +3.1% |
| Remuneration and social security | 454/9 | - | €1,750 | +€1,750 | |
| Other amounts payable | 47/48 | €185,349 | €198,605 | +€13,256 | +7.2% |
| Other operating charges | 640/8 | €1,328 | €1,117 | -€211 | -15.9% |
| Gross operating margin | 9900 | €22,197 | €70,136 | +€47,939 | +216% |
| Operating profit (loss) | 9901 | €20,869 | €69,019 | +€48,150 | +231% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €21,253 | €22,707 | +€1,454 | +6.8% |
| Recurring financial charges | 65 | €21,253 | €22,707 | +€1,454 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | -€384 | €46,312 | +€46,696 | |
| Income taxes | 67/77 | €260 | €7,942 | +€7,681 | +2,951% |
| Profit (loss) for the period | 9904 | -€644 | €38,371 | +€39,015 | |
| Profit (loss) for the period to be appropriated | 9905 | -€644 | €38,371 | +€39,015 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.