HERDERBERG: 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.
HERDERBERG
Largest movements
- Cash -€32,096
down €32,096 (-98.3%), from €32,656 to €560
mainly Current investments (-€25,200) and Net result for the year (-€12,021)
- Current investments +€25,200
new in 2025: €25,200
- Tangible fixed assets -€4,265
down €4,265 (-2.1%), from €201,582 to €197,317
- Profit (loss) carried forward -€37,221
down €37,221 (-95.7%), from -€38,902 to -€76,123
- Reserves +€25,200
new in 2025: €25,200
- Depreciation +€1,504
up €1,504 (+18.6%), from €8,088 to €9,591
- Gross operating margin +€1,427
up €1,427 (+82.8%), from -€1,725 to -€297
- Other operating charges +€23
up €23 (+3.2%), from €706 to €728
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 | €235,098 | €223,077 | -€12,021 | -5.1% |
| Fixed assets | 21/28 | €201,582 | €197,317 | -€4,265 | -2.1% |
| Tangible fixed assets | 22/27 | €201,582 | €197,317 | -€4,265 | -2.1% |
| Land and buildings | 22 | €201,582 | €197,317 | -€4,265 | -2.1% |
| Current assets | 29/58 | €33,517 | €25,760 | -€7,757 | -23.1% |
| Current investments | 50/53 | - | €25,200 | +€25,200 | |
| Cash at bank and in hand | 54/58 | €32,656 | €560 | -€32,096 | -98.3% |
| Deferred charges and accrued income | 490/1 | €861 | - | -€861 | |
| Total equity and liabilities | 10/49 | €235,098 | €223,077 | -€12,021 | -5.1% |
| Equity | 10/15 | €235,098 | €223,077 | -€12,021 | -5.1% |
| Contributions | 10/11 | €274,000 | €274,000 | = | 0.0% |
| Reserves | 13 | - | €25,200 | +€25,200 | |
| Non-distributable reserves | 130/1 | - | €25,200 | +€25,200 | |
| Own shares acquired | 1312 | - | €25,200 | +€25,200 | |
| Profit (loss) carried forward | 14 | -€38,902 | -€76,123 | -€37,221 | -95.7% |
| Remuneration, social security and pensions | 62 | €1,260 | €1,260 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,088 | €9,591 | +€1,504 | +18.6% |
| Other operating charges | 640/8 | €706 | €728 | +€23 | +3.2% |
| Gross operating margin | 9900 | -€1,725 | -€297 | +€1,427 | +82.8% |
| Operating profit (loss) | 9901 | -€11,778 | -€11,877 | -€99 | -0.8% |
| Financial charges | 65/66B | €134 | €144 | +€10 | +7.4% |
| Recurring financial charges | 65 | €134 | €144 | +€10 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,912 | -€12,021 | -€109 | -0.9% |
| Profit (loss) for the period | 9904 | -€11,912 | -€12,021 | -€109 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,912 | -€12,021 | -€109 | -0.9% |
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 6 October 2026 via checked.be.