HERCULE: 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.
HERCULE
Largest movements
- Tangible fixed assets +€16,095
up €16,095 (+47.0%), from €34,225 to €50,320
of which Other tangible fixed assets: +€39,995
- Cash +€15,821
up €15,821 (+167.2%), from €9,463 to €25,284
mainly Other debts (+€43,781) and Tax, wage and social debts (+€29,183)
- Stocks and contracts +€3,950
up €3,950 (+25.6%), from €15,403 to €19,353
- Financial fixed assets +€3,610
up €3,610 (+208.8%), from €1,729 to €5,339
- Receivables within one year -€3,474
down €3,474 (-83.5%), from €4,159 to €685
- Other debts +€43,781
up €43,781 (+30.3%), from €144,674 to €188,454
- Tax, wage and social debts +€29,183
up €29,183 (+43.0%), from €67,839 to €97,023
of which Remuneration and social security: +€27,461
- Debts after one year -€19,019
down €19,019 (-44.2%), from €43,017 to €23,999
- Trade debts -€11,046
down €11,046 (-25.6%), from €43,085 to €32,039
- Current portion of long-term debt -€8,258
down €8,258 (-30.3%), from €27,276 to €19,019
- Gross operating margin +€119,901
up €119,901 (+41.5%), from €289,171 to €409,073
- Staff costs +€78,950
up €78,950 (+26.7%), from €295,353 to €374,303
- Other operating charges -€7,912
down €7,912 (-44.8%), from €17,669 to €9,757
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 | €66,975 | €103,058 | +€36,084 | +53.9% |
| Fixed assets | 21/28 | €35,954 | €55,659 | +€19,705 | +54.8% |
| Tangible fixed assets | 22/27 | €34,225 | €50,320 | +€16,095 | +47.0% |
| Plant, machinery and equipment | 23 | €13,424 | €9,894 | -€3,530 | -26.3% |
| Furniture and vehicles | 24 | €1,353 | €431 | -€922 | -68.1% |
| Leasing and similar rights | 25 | €19,449 | - | -€19,449 | |
| Other tangible fixed assets | 26 | - | €39,995 | +€39,995 | |
| Financial fixed assets | 28 | €1,729 | €5,339 | +€3,610 | +208.8% |
| Current assets | 29/58 | €31,020 | €47,399 | +€16,379 | +52.8% |
| Stocks and contracts in progress | 3 | €15,403 | €19,353 | +€3,950 | +25.6% |
| Stocks | 30/36 | €15,403 | €19,353 | +€3,950 | +25.6% |
| Amounts receivable within one year | 40/41 | €4,159 | €685 | -€3,474 | -83.5% |
| Trade receivables | 40 | €4,159 | €685 | -€3,474 | -83.5% |
| Cash at bank and in hand | 54/58 | €9,463 | €25,284 | +€15,821 | +167.2% |
| Deferred charges and accrued income | 490/1 | €1,995 | €2,077 | +€82 | +4.1% |
| Total equity and liabilities | 10/49 | €66,975 | €103,058 | +€36,084 | +53.9% |
| Equity | 10/15 | -€308,634 | -€308,406 | +€228 | +0.1% |
| Contributions | 10/11 | €115,776 | €115,776 | = | 0.0% |
| Reserves | 13 | €57,509 | €57,509 | = | 0.0% |
| Distributable reserves | 133 | €57,509 | €57,509 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€481,920 | -€481,692 | +€228 | 0.0% |
| Amounts payable | 17/49 | €375,609 | €411,465 | +€35,855 | +9.5% |
| Amounts payable after more than one year | 17 | €43,017 | €23,999 | -€19,019 | -44.2% |
| Financial debts | 170/4 | €43,017 | €23,999 | -€19,019 | -44.2% |
| Amounts payable within one year | 42/48 | €332,592 | €387,466 | +€54,874 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €27,276 | €19,019 | -€8,258 | -30.3% |
| Financial debts | 43 | €47,347 | €50,932 | +€3,585 | +7.6% |
| Credit institutions | 430/8 | €47,347 | €50,932 | +€3,585 | +7.6% |
| Trade debts | 44 | €43,085 | €32,039 | -€11,046 | -25.6% |
| Suppliers | 440/4 | €43,085 | €32,039 | -€11,046 | -25.6% |
| Advances received on contracts in progress | 46 | €2,371 | - | -€2,371 | |
| Taxes, remuneration and social security | 45 | €67,839 | €97,023 | +€29,183 | +43.0% |
| Taxes | 450/3 | €9,702 | €11,424 | +€1,722 | +17.7% |
| Remuneration and social security | 454/9 | €58,137 | €85,598 | +€27,461 | +47.2% |
| Other amounts payable | 47/48 | €144,674 | €188,454 | +€43,781 | +30.3% |
| Remuneration, social security and pensions | 62 | €295,353 | €374,303 | +€78,950 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,607 | €11,473 | +€3,867 | +50.8% |
| Other operating charges | 640/8 | €17,669 | €9,757 | -€7,912 | -44.8% |
| Gross operating margin | 9900 | €289,171 | €409,073 | +€119,901 | +41.5% |
| Operating profit (loss) | 9901 | -€31,457 | €13,540 | +€44,997 | |
| Financial income | 75/76B | €645 | €859 | +€214 | +33.1% |
| Recurring financial income | 75 | €645 | €859 | +€214 | +33.1% |
| Financial charges | 65/66B | €14,533 | €13,423 | -€1,111 | -7.6% |
| Recurring financial charges | 65 | €14,533 | €13,423 | -€1,111 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€45,345 | €976 | +€46,321 | |
| Income taxes | 67/77 | €773 | €748 | -€26 | -3.3% |
| Profit (loss) for the period | 9904 | -€46,119 | €228 | +€46,347 | |
| Profit (loss) for the period to be appropriated | 9905 | -€46,119 | €228 | +€46,347 |
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 4 October 2026 via checked.be.