HERCK+: 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.
HERCK+
Largest movements
- Receivables within one year +€86,512
up €86,512 (+509.1%), from €16,994 to €103,507
of which Trade receivables: +€87,181
- Tangible fixed assets +€37,135
up €37,135 (+35.0%), from €106,029 to €143,163
of which Furniture and vehicles: +€33,812
- Financial fixed assets -€30,000
down €30,000 (-91.5%), from €32,774 to €2,774
- Cash -€8,932
down €8,932 (-9.2%), from €97,435 to €88,503
mainly Receivables within one year (-€86,512) and Contributions, distributions and other (-€85,000)
- Deferred charges and accrued income -€4,764
down €4,764 (-48.2%), from €9,880 to €5,116
- Trade debts +€58,807
up €58,807 (+490.3%), from €11,994 to €70,801
- Tax, wage and social debts +€26,406
up €26,406 (+361.6%), from €7,302 to €33,708
of which Remuneration and social security: +€18,662
- Current portion of long-term debt -€7,753
down €7,753 (-22.9%), from €33,915 to €26,162
- Other debts +€5,104
up €5,104 (+12.7%), from €40,178 to €45,282
- Gross operating margin -€29,143
down €29,143 (-8.8%), from €331,594 to €302,452
- Staff costs +€24,703
up €24,703 (+18.1%), from €136,311 to €161,014
- Depreciation +€7,865
up €7,865 (+31.9%), from €24,633 to €32,497
- Taxes -€4,272
down €4,272 (-35.6%), from €12,016 to €7,744
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 | €315,058 | €394,110 | +€79,052 | +25.1% |
| Fixed assets | 21/28 | €190,749 | €196,985 | +€6,236 | +3.3% |
| Intangible fixed assets | 21 | €51,947 | €51,048 | -€899 | -1.7% |
| Tangible fixed assets | 22/27 | €106,029 | €143,163 | +€37,135 | +35.0% |
| Land and buildings | 22 | - | €5,194 | +€5,194 | |
| Plant, machinery and equipment | 23 | - | €4,527 | +€4,527 | |
| Furniture and vehicles | 24 | €9,285 | €43,096 | +€33,812 | +364.2% |
| Other tangible fixed assets | 26 | €96,744 | €90,346 | -€6,398 | -6.6% |
| Financial fixed assets | 28 | €32,774 | €2,774 | -€30,000 | -91.5% |
| Current assets | 29/58 | €124,309 | €197,125 | +€72,816 | +58.6% |
| Amounts receivable within one year | 40/41 | €16,994 | €103,507 | +€86,512 | +509.1% |
| Trade receivables | 40 | €342 | €87,523 | +€87,181 | +25491.6% |
| Other amounts receivable | 41 | €16,652 | €15,984 | -€669 | -4.0% |
| Cash at bank and in hand | 54/58 | €97,435 | €88,503 | -€8,932 | -9.2% |
| Deferred charges and accrued income | 490/1 | €9,880 | €5,116 | -€4,764 | -48.2% |
| Total equity and liabilities | 10/49 | €315,058 | €394,110 | +€79,052 | +25.1% |
| Equity | 10/15 | €150,067 | €147,938 | -€2,128 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,031 | €2,031 | = | 0.0% |
| Tax-exempt reserves | 132 | €171 | €171 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €129,436 | €127,308 | -€2,128 | -1.6% |
| Amounts payable | 17/49 | €164,992 | €246,172 | +€81,180 | +49.2% |
| Amounts payable after more than one year | 17 | €71,602 | €70,218 | -€1,384 | -1.9% |
| Financial debts | 170/4 | €71,602 | €70,218 | -€1,384 | -1.9% |
| Amounts payable within one year | 42/48 | €93,389 | €175,954 | +€82,564 | +88.4% |
| Current portion of amounts payable after more than one year | 42 | €33,915 | €26,162 | -€7,753 | -22.9% |
| Trade debts | 44 | €11,994 | €70,801 | +€58,807 | +490.3% |
| Suppliers | 440/4 | €11,994 | €70,801 | +€58,807 | +490.3% |
| Taxes, remuneration and social security | 45 | €7,302 | €33,708 | +€26,406 | +361.6% |
| Taxes | 450/3 | - | €7,744 | +€7,744 | |
| Remuneration and social security | 454/9 | €7,302 | €25,964 | +€18,662 | +255.6% |
| Other amounts payable | 47/48 | €40,178 | €45,282 | +€5,104 | +12.7% |
| Remuneration, social security and pensions | 62 | €136,311 | €161,014 | +€24,703 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,633 | €32,497 | +€7,865 | +31.9% |
| Other operating charges | 640/8 | €1,773 | €524 | -€1,249 | -70.5% |
| Non-recurring operating charges | 66A | - | €16,317 | +€16,317 | |
| Gross operating margin | 9900 | €331,594 | €302,452 | -€29,143 | -8.8% |
| Operating profit (loss) | 9901 | €168,878 | €92,099 | -€76,778 | -45.5% |
| Financial income | 75/76B | €41 | €54 | +€13 | +32.3% |
| Recurring financial income | 75 | €41 | €54 | +€13 | +32.3% |
| Financial charges | 65/66B | €1,509 | €1,537 | +€28 | +1.8% |
| Recurring financial charges | 65 | €1,509 | €1,537 | +€28 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €167,409 | €90,616 | -€76,793 | -45.9% |
| Income taxes | 67/77 | €12,016 | €7,744 | -€4,272 | -35.6% |
| Profit (loss) for the period | 9904 | €155,393 | €82,872 | -€72,521 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €155,393 | €82,872 | -€72,521 | -46.7% |
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 9 October 2026 via checked.be.