HERCUL: 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.
HERCUL
Largest movements
- Cash +€129,593
up €129,593 (+80.0%), from €162,070 to €291,663
mainly Other debts (+€257,734) and Net result for the year (+€167,836)
- Other debts +€257,734
up €257,734 (+320.8%), from €80,340 to €338,074
- Profit (loss) carried forward -€183,711
down €183,711 (-91.2%), from €201,547 to €17,836
- Tax, wage and social debts +€53,981
up €53,981 (+507.8%), from €10,631 to €64,613
- Gross operating margin +€14,522
up €14,522 (+6.9%), from €211,079 to €225,601
- Taxes +€5,394
up €5,394 (+11.8%), from €45,858 to €51,253
- Depreciation -€5,262
down €5,262 (-63.2%), from €8,326 to €3,064
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 | €321,092 | €447,621 | +€126,529 | +39.4% |
| Fixed assets | 21/28 | €159,022 | €155,958 | -€3,064 | -1.9% |
| Tangible fixed assets | 22/27 | €159,022 | €155,958 | -€3,064 | -1.9% |
| Land and buildings | 22 | €19,944 | €17,425 | -€2,519 | -12.6% |
| Furniture and vehicles | 24 | €2,052 | €1,507 | -€545 | -26.6% |
| Other tangible fixed assets | 26 | €137,026 | €137,026 | = | 0.0% |
| Current assets | 29/58 | €162,070 | €291,663 | +€129,593 | +80.0% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €162,070 | €291,663 | +€129,593 | +80.0% |
| Total equity and liabilities | 10/49 | €321,092 | €447,621 | +€126,529 | +39.4% |
| Equity | 10/15 | €220,147 | €36,436 | -€183,711 | -83.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €201,547 | €17,836 | -€183,711 | -91.2% |
| Amounts payable | 17/49 | €100,944 | €411,185 | +€310,240 | +307.3% |
| Amounts payable within one year | 42/48 | €98,598 | €407,315 | +€308,718 | +313.1% |
| Trade debts | 44 | €7,626 | €4,628 | -€2,998 | -39.3% |
| Suppliers | 440/4 | €7,626 | €4,628 | -€2,998 | -39.3% |
| Taxes, remuneration and social security | 45 | €10,631 | €64,613 | +€53,981 | +507.8% |
| Taxes | 450/3 | €10,631 | €64,613 | +€53,981 | +507.8% |
| Other amounts payable | 47/48 | €80,340 | €338,074 | +€257,734 | +320.8% |
| Accrued charges and deferred income | 492/3 | €2,347 | €3,870 | +€1,523 | +64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,326 | €3,064 | -€5,262 | -63.2% |
| Other operating charges | 640/8 | €126 | €146 | +€20 | +15.6% |
| Gross operating margin | 9900 | €211,079 | €225,601 | +€14,522 | +6.9% |
| Operating profit (loss) | 9901 | €202,627 | €222,391 | +€19,765 | +9.8% |
| Financial income | 75/76B | €165 | €798 | +€633 | +382.5% |
| Recurring financial income | 75 | €165 | €798 | +€633 | +382.5% |
| Financial charges | 65/66B | €3,531 | €4,101 | +€569 | +16.1% |
| Recurring financial charges | 65 | €3,531 | €4,101 | +€569 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €199,261 | €219,089 | +€19,828 | +10.0% |
| Income taxes | 67/77 | €45,858 | €51,253 | +€5,394 | +11.8% |
| Profit (loss) for the period | 9904 | €153,402 | €167,836 | +€14,434 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €153,402 | €167,836 | +€14,434 | +9.4% |
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.