Hercolink: 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.
Hercolink
Largest movements
- Cash +€84,454
up €84,454 (+148.6%), from €56,838 to €141,292
mainly Net result for the year (+€80,157) and Depreciation (+€10,467)
- Tangible fixed assets -€10,467
down €10,467 (-24.0%), from €43,570 to €33,103
of which Furniture and vehicles: -€10,317
- Reserves +€78,439
up €78,439 (+103.6%), from €75,694 to €154,133
- Debts after one year -€13,306
down €13,306 (-85.4%), from €15,577 to €2,272
- Tax, wage and social debts +€7,386
up €7,386 (+43.9%), from €16,811 to €24,197
- Gross operating margin +€7,096
up €7,096 (+6.1%), from €116,518 to €123,614
- Taxes +€2,028
up €2,028 (+6.8%), from €29,881 to €31,909
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 | €123,867 | €197,241 | +€73,374 | +59.2% |
| Fixed assets | 21/28 | €43,570 | €33,103 | -€10,467 | -24.0% |
| Tangible fixed assets | 22/27 | €43,570 | €33,103 | -€10,467 | -24.0% |
| Plant, machinery and equipment | 23 | €1,429 | €1,279 | -€150 | -10.5% |
| Furniture and vehicles | 24 | €42,141 | €31,824 | -€10,317 | -24.5% |
| Current assets | 29/58 | €80,297 | €164,139 | +€83,841 | +104.4% |
| Amounts receivable within one year | 40/41 | €22,646 | €21,899 | -€747 | -3.3% |
| Trade receivables | 40 | €22,033 | €19,392 | -€2,641 | -12.0% |
| Other amounts receivable | 41 | €613 | €2,507 | +€1,893 | +308.8% |
| Cash at bank and in hand | 54/58 | €56,838 | €141,292 | +€84,454 | +148.6% |
| Deferred charges and accrued income | 490/1 | €813 | €947 | +€134 | +16.5% |
| Total equity and liabilities | 10/49 | €123,867 | €197,241 | +€73,374 | +59.2% |
| Equity | 10/15 | €78,194 | €156,633 | +€78,439 | +100.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €75,694 | €154,133 | +€78,439 | +103.6% |
| Distributable reserves | 133 | €75,694 | €154,133 | +€78,439 | +103.6% |
| Amounts payable | 17/49 | €45,673 | €40,608 | -€5,065 | -11.1% |
| Amounts payable after more than one year | 17 | €15,577 | €2,272 | -€13,306 | -85.4% |
| Financial debts | 170/4 | €15,577 | €2,272 | -€13,306 | -85.4% |
| Amounts payable within one year | 42/48 | €30,096 | €38,337 | +€8,241 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €12,764 | €13,306 | +€542 | +4.2% |
| Trade debts | 44 | €522 | €834 | +€312 | +59.8% |
| Suppliers | 440/4 | €522 | €834 | +€312 | +59.8% |
| Taxes, remuneration and social security | 45 | €16,811 | €24,197 | +€7,386 | +43.9% |
| Taxes | 450/3 | €16,811 | €24,197 | +€7,386 | +43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,518 | €10,467 | +€949 | +10.0% |
| Other operating charges | 640/8 | €159 | €426 | +€267 | +167.8% |
| Gross operating margin | 9900 | €116,518 | €123,614 | +€7,096 | +6.1% |
| Operating profit (loss) | 9901 | €106,841 | €112,721 | +€5,880 | +5.5% |
| Financial income | 75/76B | €19 | €428 | +€409 | +2203.0% |
| Recurring financial income | 75 | €19 | €428 | +€409 | +2203.0% |
| Financial charges | 65/66B | €1,285 | €1,082 | -€203 | -15.8% |
| Recurring financial charges | 65 | €1,285 | €1,082 | -€203 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €105,574 | €112,066 | +€6,492 | +6.1% |
| Income taxes | 67/77 | €29,881 | €31,909 | +€2,028 | +6.8% |
| Profit (loss) for the period | 9904 | €75,694 | €80,157 | +€4,464 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €75,694 | €80,157 | +€4,464 | +5.9% |
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 7 October 2026 via checked.be.