HEREMANS M.: 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.
HEREMANS M.
Largest movements
- Tangible fixed assets +€560,742
up €560,742 (+17.6%), from €3.2m to €3.8m
- Receivables within one year -€299,570
down €299,570 (-25.0%), from €1.2m to €896,381
of which Trade receivables: -€327,283
- Cash +€100,297
up €100,297 (+276.4%), from €36,287 to €136,584
mainly Depreciation (+€689,670) and Receivables within one year (+€299,570)
- Reserves +€205,449
up €205,449 (+29.1%), from €706,819 to €912,268
of which Distributable reserves: +€205,449
- Tax, wage and social debts +€64,158
up €64,158 (+69.5%), from €92,323 to €156,481
of which Remuneration and social security: +€34,825
- Debts after one year +€60,239
up €60,239 (+2.8%), from €2.1m to €2.2m
- Gross operating margin +€349,761
up €349,761 (+21.6%), from €1.6m to €2.0m
- Depreciation +€188,005
up €188,005 (+37.5%), from €501,664 to €689,670
- Staff costs +€90,675
up €90,675 (+13.1%), from €693,779 to €784,454
- Financial charges +€29,660
up €29,660 (+28.6%), from €103,866 to €133,526
- Other operating charges +€24,339
up €24,339 (+52.9%), from €46,051 to €70,390
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 | €4,472,591 | €4,838,624 | +€366,033 | +8.2% |
| Fixed assets | 21/28 | €3,203,714 | €3,764,591 | +€560,877 | +17.5% |
| Tangible fixed assets | 22/27 | €3,193,187 | €3,753,930 | +€560,742 | +17.6% |
| Land and buildings | 22 | €1,285,555 | €1,419,400 | +€133,845 | +10.4% |
| Plant, machinery and equipment | 23 | €416,701 | €589,407 | +€172,706 | +41.4% |
| Furniture and vehicles | 24 | €459,701 | €508,965 | +€49,264 | +10.7% |
| Leasing and similar rights | 25 | €1,031,230 | €1,236,157 | +€204,927 | +19.9% |
| Financial fixed assets | 28 | €10,526 | €10,661 | +€135 | +1.3% |
| Current assets | 29/58 | €1,268,877 | €1,074,033 | -€194,844 | -15.4% |
| Stocks and contracts in progress | 3 | €9,742 | €12,498 | +€2,756 | +28.3% |
| Stocks | 30/36 | €9,742 | €12,498 | +€2,756 | +28.3% |
| Amounts receivable within one year | 40/41 | €1,195,950 | €896,381 | -€299,570 | -25.0% |
| Trade receivables | 40 | €1,163,679 | €836,396 | -€327,283 | -28.1% |
| Other amounts receivable | 41 | €32,271 | €59,985 | +€27,713 | +85.9% |
| Cash at bank and in hand | 54/58 | €36,287 | €136,584 | +€100,297 | +276.4% |
| Deferred charges and accrued income | 490/1 | €26,898 | €28,570 | +€1,673 | +6.2% |
| Total equity and liabilities | 10/49 | €4,472,591 | €4,838,624 | +€366,033 | +8.2% |
| Equity | 10/15 | €785,772 | €991,221 | +€205,449 | +26.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €706,819 | €912,268 | +€205,449 | +29.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €706,819 | €912,268 | +€205,449 | +29.1% |
| Profit (loss) carried forward | 14 | €60,353 | €60,353 | = | 0.0% |
| Amounts payable | 17/49 | €3,686,820 | €3,847,403 | +€160,584 | +4.4% |
| Amounts payable after more than one year | 17 | €2,117,663 | €2,177,903 | +€60,239 | +2.8% |
| Financial debts | 170/4 | €2,117,663 | €2,177,903 | +€60,239 | +2.8% |
| Amounts payable within one year | 42/48 | €1,531,048 | €1,592,232 | +€61,184 | +4.0% |
| Current portion of amounts payable after more than one year | 42 | €620,230 | €633,110 | +€12,880 | +2.1% |
| Financial debts | 43 | €175,000 | €175,000 | = | 0.0% |
| Credit institutions | 430/8 | €175,000 | €175,000 | = | 0.0% |
| Trade debts | 44 | €604,290 | €623,274 | +€18,985 | +3.1% |
| Suppliers | 440/4 | €604,290 | €623,274 | +€18,985 | +3.1% |
| Taxes, remuneration and social security | 45 | €92,323 | €156,481 | +€64,158 | +69.5% |
| Taxes | 450/3 | €69,013 | €98,346 | +€29,333 | +42.5% |
| Remuneration and social security | 454/9 | €23,310 | €58,135 | +€34,825 | +149.4% |
| Other amounts payable | 47/48 | €39,205 | €4,367 | -€34,839 | -88.9% |
| Accrued charges and deferred income | 492/3 | €38,108 | €77,269 | +€39,161 | +102.8% |
| Remuneration, social security and pensions | 62 | €693,779 | €784,454 | +€90,675 | +13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €501,664 | €689,670 | +€188,005 | +37.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€6,121 | -€6,121 | |
| Other operating charges | 640/8 | €46,051 | €70,390 | +€24,339 | +52.9% |
| Non-recurring operating charges | 66A | €25,278 | €0 | -€25,278 | -100.0% |
| Gross operating margin | 9900 | €1,617,563 | €1,967,324 | +€349,761 | +21.6% |
| Operating profit (loss) | 9901 | €350,790 | €428,931 | +€78,141 | +22.3% |
| Financial income | 75/76B | €92 | €111 | +€19 | +20.6% |
| Recurring financial income | 75 | €92 | €111 | +€19 | +20.6% |
| Financial charges | 65/66B | €103,866 | €133,526 | +€29,660 | +28.6% |
| Recurring financial charges | 65 | €103,866 | €133,526 | +€29,660 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | €247,016 | €295,516 | +€48,500 | +19.6% |
| Income taxes | 67/77 | €69,013 | €90,067 | +€21,054 | +30.5% |
| Profit (loss) for the period | 9904 | €178,003 | €205,449 | +€27,447 | +15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €178,003 | €205,449 | +€27,447 | +15.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.