HERCHIVA: 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
HERCHIVA
NACE 93.110, Operation of sports facilities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€57,103
2024 · €4,509-€61,612
Equity
€422,980
2024 · €480,083-€57,103
Cash
€22,642
2024 · €42,531-€19,889
Balance sheet total
€989,350
2024 · €1.1m-€93,852
Largest movements
Assets
- Tangible fixed assets -€79,110
down €79,110 (-7.9%), from €998,076 to €918,966
of which Land and buildings: -€63,153
- Cash -€19,889
down €19,889 (-46.8%), from €42,531 to €22,642
mainly Investment in fixed assets (net) (-€66,747) and Net result for the year (-€57,103)
Equity and liabilities
- Profit (loss) carried forward -€57,103
down €57,103 (-22.2%), from -€257,660 to -€314,763
- Debts after one year -€30,628
down €30,628 (-10.8%), from €284,715 to €254,087
Income statement
- Gross operating margin -€34,821
down €34,821 (-10.5%), from €332,030 to €297,209
- Staff costs +€19,611
up €19,611 (+12.7%), from €154,762 to €174,373
- Depreciation +€6,414
up €6,414 (+4.6%), from €139,442 to €145,856
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
€4,509
Gross operating margin
-€34,821
Staff costs
-€19,611
Depreciation
-€6,414
Other operating charges
-€89
Financial income
-€197
Financial charges
-€348
Taxes
-€131
Result 2025
-€57,103
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
+€79,444
Investment
-€66,747
Financing
-€32,586
Cash 2024
€42,531
From operations (derived)
+€79,444
Net result for the year
-€57,103
Depreciation
+€145,856
Stocks and contracts
-€165
Receivables within one year
-€5,959
Deferred charges and accrued income
+€978
Trade debts
-€7,883
Tax, wage and social debts
+€4,726
Advances received
+€3,569
Other debts
-€4,575
Investment (derived)
-€66,747
Investment in fixed assets (net)
-€66,747
Financing
-€32,586
Debts after one year
-€30,628
Current portion of long-term debt
-€1,926
Short-term financial debts
-€32
Cash 2025
€22,642
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,083,203 | €989,350 | -€93,852 | -8.7% |
| Fixed assets | 21/28 | €998,326 | €919,216 | -€79,110 | -7.9% |
| Tangible fixed assets | 22/27 | €998,076 | €918,966 | -€79,110 | -7.9% |
| Land and buildings | 22 | €913,727 | €850,574 | -€63,153 | -6.9% |
| Plant, machinery and equipment | 23 | €77,877 | €63,545 | -€14,332 | -18.4% |
| Furniture and vehicles | 24 | €6,472 | €4,848 | -€1,625 | -25.1% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €84,876 | €70,134 | -€14,742 | -17.4% |
| Stocks and contracts in progress | 3 | €20,388 | €20,553 | +€165 | +0.8% |
| Stocks | 30/36 | €20,388 | €20,553 | +€165 | +0.8% |
| Amounts receivable within one year | 40/41 | €9,570 | €15,529 | +€5,959 | +62.3% |
| Trade receivables | 40 | €9,570 | €15,470 | +€5,900 | +61.7% |
| Other amounts receivable | 41 | - | €59 | +€59 | |
| Cash at bank and in hand | 54/58 | €42,531 | €22,642 | -€19,889 | -46.8% |
| Deferred charges and accrued income | 490/1 | €12,388 | €11,410 | -€978 | -7.9% |
| Total equity and liabilities | 10/49 | €1,083,203 | €989,350 | -€93,852 | -8.7% |
| Equity | 10/15 | €480,083 | €422,980 | -€57,103 | -11.9% |
| Contributions | 10/11 | €670,675 | €670,675 | = | 0.0% |
| Capital | 10 | €670,675 | €670,675 | = | 0.0% |
| Issued capital | 100 | €670,675 | €670,675 | = | 0.0% |
| Reserves | 13 | €67,068 | €67,068 | = | 0.0% |
| Non-distributable reserves | 130/1 | €67,068 | €67,068 | = | 0.0% |
| Legal reserve | 130 | €67,068 | €67,068 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€257,660 | -€314,763 | -€57,103 | -22.2% |
| Amounts payable | 17/49 | €603,120 | €566,370 | -€36,750 | -6.1% |
| Amounts payable after more than one year | 17 | €284,715 | €254,087 | -€30,628 | -10.8% |
| Financial debts | 170/4 | €284,715 | €254,087 | -€30,628 | -10.8% |
| Amounts payable within one year | 42/48 | €318,405 | €312,283 | -€6,122 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €50,603 | €48,677 | -€1,926 | -3.8% |
| Financial debts | 43 | €32 | €0 | -€32 | -100.0% |
| Credit institutions | 430/8 | €32 | €0 | -€32 | -100.0% |
| Trade debts | 44 | €28,273 | €20,390 | -€7,883 | -27.9% |
| Suppliers | 440/4 | €28,273 | €20,390 | -€7,883 | -27.9% |
| Advances received on contracts in progress | 46 | €2,250 | €5,819 | +€3,569 | +158.6% |
| Taxes, remuneration and social security | 45 | €22,647 | €27,373 | +€4,726 | +20.9% |
| Taxes | 450/3 | €16,364 | €18,316 | +€1,953 | +11.9% |
| Remuneration and social security | 454/9 | €6,284 | €9,057 | +€2,773 | +44.1% |
| Other amounts payable | 47/48 | €214,599 | €210,024 | -€4,575 | -2.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €154,762 | €174,373 | +€19,611 | +12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,442 | €145,856 | +€6,414 | +4.6% |
| Other operating charges | 640/8 | €16,612 | €16,700 | +€89 | +0.5% |
| Gross operating margin | 9900 | €332,030 | €297,209 | -€34,821 | -10.5% |
| Operating profit (loss) | 9901 | €21,214 | -€39,720 | -€60,935 | |
| Financial income | 75/76B | €288 | €91 | -€197 | -68.6% |
| Recurring financial income | 75 | €288 | €91 | -€197 | -68.6% |
| Financial charges | 65/66B | €16,873 | €17,221 | +€348 | +2.1% |
| Recurring financial charges | 65 | €16,873 | €17,221 | +€348 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €4,630 | -€56,851 | -€61,481 | |
| Income taxes | 67/77 | €120 | €251 | +€131 | +109.2% |
| Profit (loss) for the period | 9904 | €4,509 | -€57,103 | -€61,612 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,509 | -€57,103 | -€61,612 |
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 6 October 2026 via checked.be.