Hercon: 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.
What changed
Hercon
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€85,786
2024 · €66,598+€19,189
Equity
€5.1m
2024 · €5.1m+€85,786
Cash
€122,009
2024 · €81,599+€40,410
Balance sheet total
€5.3m
2024 · €5.2m+€88,955
Largest movements
Assets
- Current investments +€90,493
up €90,493 (+2.7%), from €3.3m to €3.4m
Equity and liabilities
- Reserves +€81,000
up €81,000 (+1.6%), from €5.0m to €5.1m
Income statement
- Financial income +€33,742
up €33,742 (+42.0%), from €80,261 to €114,003
- Taxes +€8,235
up €8,235 (+31.9%), from €25,805 to €34,040
- Gross operating margin -€6,393
down €6,393 (-9.8%), from €65,403 to €59,011
- Financial charges +€909
up €909 (+11.6%), from €7,812 to €8,721
- Depreciation -€891
down €891 (-2.0%), from €44,106 to €43,215
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
€66,598
Gross operating margin
-€6,393
Depreciation
+€891
Other operating charges
+€92
Financial income
+€33,742
Financial charges
-€909
Taxes
-€8,235
Result 2025
€85,786
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
+€134,209
Investment
-€93,909
Financing
+€110
Cash 2024
€81,599
From operations (derived)
+€134,209
Net result for the year
+€85,786
Depreciation
+€43,215
Receivables within one year
+€2,150
Trade debts
+€1,856
Tax, wage and social debts
+€4,425
Other debts
-€2,587
Accrued charges and deferred income
-€635
Investment (derived)
-€93,909
Investment in fixed assets (net)
-€3,416
Current investments
-€90,493
Financing
+€110
Short-term financial debts
+€110
Cash 2025
€122,009
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,165,674 | €5,254,629 | +€88,955 | +1.7% |
| Fixed assets | 21/28 | €1,762,081 | €1,722,283 | -€39,799 | -2.3% |
| Tangible fixed assets | 22/27 | €212,142 | €172,344 | -€39,799 | -18.8% |
| Land and buildings | 22 | €93,201 | €85,782 | -€7,420 | -8.0% |
| Plant, machinery and equipment | 23 | €3,651 | €2,060 | -€1,591 | -43.6% |
| Furniture and vehicles | 24 | €115,290 | €84,501 | -€30,788 | -26.7% |
| Financial fixed assets | 28 | €1,549,939 | €1,549,939 | = | 0.0% |
| Current assets | 29/58 | €3,403,593 | €3,532,346 | +€128,753 | +3.8% |
| Amounts receivable within one year | 40/41 | €22,432 | €20,283 | -€2,150 | -9.6% |
| Trade receivables | 40 | €19,616 | €20,263 | +€647 | +3.3% |
| Other amounts receivable | 41 | €2,816 | €20 | -€2,796 | -99.3% |
| Current investments | 50/53 | €3,299,232 | €3,389,725 | +€90,493 | +2.7% |
| Cash at bank and in hand | 54/58 | €81,599 | €122,009 | +€40,410 | +49.5% |
| Deferred charges and accrued income | 490/1 | €330 | €330 | = | 0.0% |
| Total equity and liabilities | 10/49 | €5,165,674 | €5,254,629 | +€88,955 | +1.7% |
| Equity | 10/15 | €5,053,227 | €5,139,014 | +€85,786 | +1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €5,035,860 | €5,116,860 | +€81,000 | +1.6% |
| Distributable reserves | 133 | €5,035,860 | €5,116,860 | +€81,000 | +1.6% |
| Profit (loss) carried forward | 14 | €4,967 | €9,754 | +€4,786 | +96.4% |
| Amounts payable | 17/49 | €112,447 | €115,615 | +€3,169 | +2.8% |
| Amounts payable within one year | 42/48 | €107,312 | €111,116 | +€3,803 | +3.5% |
| Financial debts | 43 | €745 | €855 | +€110 | +14.7% |
| Credit institutions | 430/8 | €745 | €855 | +€110 | +14.7% |
| Trade debts | 44 | €2,174 | €4,030 | +€1,856 | +85.4% |
| Suppliers | 440/4 | €2,174 | €4,030 | +€1,856 | +85.4% |
| Taxes, remuneration and social security | 45 | €11,840 | €16,265 | +€4,425 | +37.4% |
| Taxes | 450/3 | €11,840 | €16,265 | +€4,425 | +37.4% |
| Other amounts payable | 47/48 | €92,553 | €89,966 | -€2,587 | -2.8% |
| Accrued charges and deferred income | 492/3 | €5,135 | €4,500 | -€635 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,106 | €43,215 | -€891 | -2.0% |
| Other operating charges | 640/8 | €1,344 | €1,253 | -€92 | -6.8% |
| Gross operating margin | 9900 | €65,403 | €59,011 | -€6,393 | -9.8% |
| Operating profit (loss) | 9901 | €19,954 | €14,544 | -€5,410 | -27.1% |
| Financial income | 75/76B | €80,261 | €114,003 | +€33,742 | +42.0% |
| Recurring financial income | 75 | €80,261 | €114,003 | +€33,742 | +42.0% |
| Financial charges | 65/66B | €7,812 | €8,721 | +€909 | +11.6% |
| Recurring financial charges | 65 | €7,812 | €8,721 | +€909 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €92,403 | €119,826 | +€27,423 | +29.7% |
| Income taxes | 67/77 | €25,805 | €34,040 | +€8,235 | +31.9% |
| Profit (loss) for the period | 9904 | €66,598 | €85,786 | +€19,189 | +28.8% |
| Profit (loss) for the period to be appropriated | 9905 | €66,598 | €85,786 | +€19,189 | +28.8% |
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 10 October 2026 via checked.be.