HERCHA: 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.
What changed
HERCHA
NACE 68.321, Property management for co-owned buildings (syndics)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€421,172
2024 · €414,648+€6,524
Equity
€3.9m
2024 · €3.9m+€20,791
Cash
€29,382
2024 · €230,097-€200,715
Balance sheet total
€6.6m
2024 · €7.2m-€546,624
Largest movements
Assets
- Current investments -€250,000
down €250,000 (-100.0%), from €250,000 to €0
- Tangible fixed assets -€227,566
down €227,566 (-3.4%), from €6.7m to €6.5m
- Cash -€200,715
down €200,715 (-87.2%), from €230,097 to €29,382
mainly Debts after one year (-€566,705) and Contributions, distributions and other (-€400,381)
- Receivables within one year +€132,668
up €132,668 (+2716.3%), from €4,884 to €137,552
of which Trade receivables: +€132,507
Equity and liabilities
- Debts after one year -€566,705
down €566,705 (-24.1%), from €2.4m to €1.8m
Income statement
- Gross operating margin +€41,161
up €41,161 (+3.4%), from €1.2m to €1.3m
- Other operating charges +€22,077
up €22,077 (+19.9%), from €110,962 to €133,039
- Depreciation +€17,277
up €17,277 (+3.3%), from €522,242 to €539,518
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.
Result 2024
€414,648
Gross operating margin
+€41,161
Depreciation
-€17,277
Other operating charges
-€22,077
Financial income
+€198
Financial charges
+€6,822
Taxes
-€2,303
Result 2025
€421,172
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.
From operations
+€827,923
Investment
-€61,552
Financing
-€967,086
Cash 2024
€230,097
From operations (derived)
+€827,923
Net result for the year
+€421,172
Depreciation
+€539,518
Receivables within one year
-€132,668
Smaller working-capital items
+€430
Trade debts
-€3,865
Tax, wage and social debts
-€2,790
Other debts
+€6,126
Investment (derived)
-€61,552
Investment in fixed assets (net)
-€311,552
Current investments
+€250,000
Financing
-€967,086
Debts after one year
-€566,705
Contributions, distributions and other
-€400,381
Cash 2025
€29,382
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,175,773 | €6,629,149 | -€546,624 | -7.6% |
| Fixed assets | 21/28 | €6,690,181 | €6,462,215 | -€227,966 | -3.4% |
| Tangible fixed assets | 22/27 | €6,689,381 | €6,461,815 | -€227,566 | -3.4% |
| Land and buildings | 22 | €6,689,381 | €6,461,815 | -€227,566 | -3.4% |
| Financial fixed assets | 28 | €800 | €400 | -€400 | -50.0% |
| Current assets | 29/58 | €485,592 | €166,934 | -€318,658 | -65.6% |
| Amounts receivable within one year | 40/41 | €4,884 | €137,552 | +€132,668 | +2716.3% |
| Trade receivables | 40 | €4,309 | €136,816 | +€132,507 | +3075.0% |
| Other amounts receivable | 41 | €575 | €736 | +€161 | +28.0% |
| Current investments | 50/53 | €250,000 | €0 | -€250,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €230,097 | €29,382 | -€200,715 | -87.2% |
| Deferred charges and accrued income | 490/1 | €610 | €0 | -€610 | -100.0% |
| Total equity and liabilities | 10/49 | €7,175,773 | €6,629,149 | -€546,624 | -7.6% |
| Equity | 10/15 | €3,898,691 | €3,919,482 | +€20,791 | +0.5% |
| Contributions | 10/11 | €2,960,554 | €2,960,554 | = | 0.0% |
| Capital | 10 | €2,945,935 | €2,945,935 | = | 0.0% |
| Issued capital | 100 | €2,945,935 | €2,945,935 | = | 0.0% |
| Outside capital | 11 | €14,619 | €14,619 | = | 0.0% |
| Share premium | 1100/10 | €14,619 | €14,619 | = | 0.0% |
| Reserves | 13 | €182,432 | €203,512 | +€21,080 | +11.6% |
| Non-distributable reserves | 130/1 | €152,102 | €173,500 | +€21,398 | +14.1% |
| Legal reserve | 130 | €152,102 | €173,500 | +€21,398 | +14.1% |
| Tax-exempt reserves | 132 | €23,185 | €22,867 | -€318 | -1.4% |
| Distributable reserves | 133 | €7,145 | €7,145 | = | 0.0% |
| Profit (loss) carried forward | 14 | €747,902 | €747,902 | = | 0.0% |
| Investment grants | 15 | €7,803 | €7,514 | -€289 | -3.7% |
| Provisions and deferred taxes | 16 | €3,382 | €3,180 | -€202 | -6.0% |
| Deferred taxes | 168 | €3,382 | €3,180 | -€202 | -6.0% |
| Amounts payable | 17/49 | €3,273,700 | €2,706,487 | -€567,213 | -17.3% |
| Amounts payable after more than one year | 17 | €2,352,279 | €1,785,574 | -€566,705 | -24.1% |
| Financial debts | 170/4 | €2,352,279 | €1,785,574 | -€566,705 | -24.1% |
| Amounts payable within one year | 42/48 | €920,422 | €919,892 | -€529 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €3,865 | €0 | -€3,865 | -100.0% |
| Suppliers | 440/4 | €3,865 | €0 | -€3,865 | -100.0% |
| Taxes, remuneration and social security | 45 | €22,590 | €19,800 | -€2,790 | -12.4% |
| Taxes | 450/3 | €22,590 | €19,800 | -€2,790 | -12.4% |
| Other amounts payable | 47/48 | €393,966 | €400,092 | +€6,126 | +1.6% |
| Accrued charges and deferred income | 492/3 | €999 | €1,021 | +€21 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €522,242 | €539,518 | +€17,277 | +3.3% |
| Other operating charges | 640/8 | €110,962 | €133,039 | +€22,077 | +19.9% |
| Gross operating margin | 9900 | €1,212,143 | €1,253,304 | +€41,161 | +3.4% |
| Operating profit (loss) | 9901 | €578,940 | €580,746 | +€1,807 | +0.3% |
| Financial income | 75/76B | €2,985 | €3,184 | +€198 | +6.6% |
| Recurring financial income | 75 | €2,985 | €3,184 | +€198 | +6.6% |
| Financial charges | 65/66B | €29,114 | €22,292 | -€6,822 | -23.4% |
| Recurring financial charges | 65 | €29,114 | €22,292 | -€6,822 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €552,812 | €561,638 | +€8,827 | +1.6% |
| Transfer from deferred taxes | 780 | €202 | €202 | = | 0.0% |
| Income taxes | 67/77 | €138,366 | €140,668 | +€2,303 | +1.7% |
| Profit (loss) for the period | 9904 | €414,648 | €421,172 | +€6,524 | +1.6% |
| Transfer from tax-exempt reserves | 789 | €318 | €318 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €414,966 | €421,490 | +€6,524 | +1.6% |
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 8 October 2026 via checked.be.