HERCOMEX: 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.
HERCOMEX
Largest movements
- Receivables within one year -€65,466
down €65,466 (-40.9%), from €160,253 to €94,787
of which Other amounts receivable: -€76,877
- Tangible fixed assets +€33,414
up €33,414 (+24.0%), from €139,129 to €172,543
of which Land and buildings: +€29,869
- Cash -€30,643
down €30,643 (-34.5%), from €88,797 to €58,154
mainly Short-term financial debts (-€82,200) and Investment in fixed assets (net) (-€57,449)
- Stocks and contracts +€18,180
up €18,180 (+7.5%), from €243,893 to €262,073
- Short-term financial debts -€82,200
no longer reported in 2025 (was €82,200)
- Debts after one year -€43,527
down €43,527 (-46.1%), from €94,391 to €50,865
- Trade debts +€43,025
up €43,025 (+25.8%), from €166,517 to €209,542
- Other debts +€36,767
up €36,767 (+780.4%), from €4,711 to €41,478
- Gross operating margin -€45,198
down €45,198 (-17.6%), from €256,495 to €211,297
- Taxes -€17,903
down €17,903 (-83.3%), from €21,486 to €3,584
- Staff costs +€10,124
up €10,124 (+6.5%), from €156,761 to €166,885
- Depreciation -€3,911
down €3,911 (-13.9%), from €28,044 to €24,134
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 | €635,553 | €591,927 | -€43,626 | -6.9% |
| Fixed assets | 21/28 | €139,303 | €172,618 | +€33,315 | +23.9% |
| Tangible fixed assets | 22/27 | €139,129 | €172,543 | +€33,414 | +24.0% |
| Land and buildings | 22 | €117,208 | €147,077 | +€29,869 | +25.5% |
| Plant, machinery and equipment | 23 | €499 | €260 | -€240 | -48.0% |
| Furniture and vehicles | 24 | €21,422 | €25,206 | +€3,785 | +17.7% |
| Financial fixed assets | 28 | €174 | €74 | -€99 | -57.1% |
| Current assets | 29/58 | €496,250 | €419,310 | -€76,941 | -15.5% |
| Stocks and contracts in progress | 3 | €243,893 | €262,073 | +€18,180 | +7.5% |
| Stocks | 30/36 | €243,893 | €262,073 | +€18,180 | +7.5% |
| Amounts receivable within one year | 40/41 | €160,253 | €94,787 | -€65,466 | -40.9% |
| Trade receivables | 40 | €60,655 | €72,066 | +€11,412 | +18.8% |
| Other amounts receivable | 41 | €99,598 | €22,721 | -€76,877 | -77.2% |
| Cash at bank and in hand | 54/58 | €88,797 | €58,154 | -€30,643 | -34.5% |
| Deferred charges and accrued income | 490/1 | €3,307 | €4,295 | +€988 | +29.9% |
| Total equity and liabilities | 10/49 | €635,553 | €591,927 | -€43,626 | -6.9% |
| Equity | 10/15 | €221,272 | €225,383 | +€4,112 | +1.9% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €153,650 | €159,427 | +€5,778 | +3.8% |
| Distributable reserves | 133 | €153,650 | €159,427 | +€5,778 | +3.8% |
| Profit (loss) carried forward | 14 | €4,622 | €2,956 | -€1,666 | -36.0% |
| Amounts payable | 17/49 | €414,281 | €366,544 | -€47,737 | -11.5% |
| Amounts payable after more than one year | 17 | €94,391 | €50,865 | -€43,527 | -46.1% |
| Financial debts | 170/4 | €94,391 | €50,865 | -€43,527 | -46.1% |
| Amounts payable within one year | 42/48 | €319,890 | €315,679 | -€4,211 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €42,358 | €43,527 | +€1,169 | +2.8% |
| Financial debts | 43 | €82,200 | - | -€82,200 | |
| Credit institutions | 430/8 | €82,200 | - | -€82,200 | |
| Trade debts | 44 | €166,517 | €209,542 | +€43,025 | +25.8% |
| Suppliers | 440/4 | €166,517 | €209,542 | +€43,025 | +25.8% |
| Taxes, remuneration and social security | 45 | €24,105 | €21,133 | -€2,971 | -12.3% |
| Taxes | 450/3 | €1,817 | €6,083 | +€4,266 | +234.7% |
| Remuneration and social security | 454/9 | €22,287 | €15,050 | -€7,237 | -32.5% |
| Other amounts payable | 47/48 | €4,711 | €41,478 | +€36,767 | +780.4% |
| Non-recurring operating income | 76A | €1,937 | €325 | -€1,612 | -83.2% |
| Remuneration, social security and pensions | 62 | €156,761 | €166,885 | +€10,124 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,044 | €24,134 | -€3,911 | -13.9% |
| Other operating charges | 640/8 | €3,085 | €4,109 | +€1,025 | +33.2% |
| Non-recurring operating charges | 66A | €340 | - | -€340 | |
| Gross operating margin | 9900 | €256,495 | €211,297 | -€45,198 | -17.6% |
| Operating profit (loss) | 9901 | €68,265 | €16,169 | -€52,096 | -76.3% |
| Financial income | 75/76B | €2,114 | €1,411 | -€704 | -33.3% |
| Recurring financial income | 75 | €2,114 | €1,411 | -€704 | -33.3% |
| Financial charges | 65/66B | €9,633 | €8,218 | -€1,415 | -14.7% |
| Recurring financial charges | 65 | €9,633 | €8,218 | -€1,415 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €60,746 | €9,362 | -€51,384 | -84.6% |
| Income taxes | 67/77 | €21,486 | €3,584 | -€17,903 | -83.3% |
| Profit (loss) for the period | 9904 | €39,259 | €5,778 | -€33,482 | -85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €39,259 | €5,778 | -€33,482 | -85.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.