Herenmode Paul: 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.
Herenmode Paul
Largest movements
- Stocks and contracts +€37,146
up €37,146 (+19.3%), from €192,634 to €229,781
- Cash -€6,047
down €6,047 (-52.1%), from €11,607 to €5,560
mainly Stocks and contracts (-€37,146) and Net result for the year (-€11,968)
- Deferred charges and accrued income -€3,746
no longer reported in 2025 (was €3,746)
- Other debts +€33,732
up €33,732 (+16.1%), from €210,151 to €243,882
- Profit (loss) carried forward -€11,968
down €11,968 (-56.3%), from -€21,261 to -€33,229
- Tax, wage and social debts +€3,741
up €3,741 (+30.5%), from €12,257 to €15,998
- Gross operating margin -€8,263
down €8,263, from €2,451 to -€5,811
- Write-downs +€3,287
up €3,287 (+2,426%), from €135 to €3,423
- Taxes -€2,285
no longer reported in 2025 (was €2,285)
- Financial charges +€1,064
up €1,064 (+120%), from €889 to €1,953
- Staff costs +€1,063
up €1,063 (+26.2%), from €4,055 to €5,118
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.
Derived cash bridge
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 | €217,414 | €241,835 | +€24,421 | +11.2% |
| Fixed assets | 21/28 | €7,651 | €5,238 | -€2,413 | -31.5% |
| Tangible fixed assets | 22/27 | €6,716 | €4,304 | -€2,413 | -35.9% |
| Plant, machinery and equipment | 23 | €3,049 | €1,711 | -€1,338 | -43.9% |
| Furniture and vehicles | 24 | €1,201 | €906 | -€296 | -24.6% |
| Other tangible fixed assets | 26 | €2,466 | €1,687 | -€780 | -31.6% |
| Financial fixed assets | 28 | €935 | €935 | = | 0.0% |
| Current assets | 29/58 | €209,763 | €236,597 | +€26,834 | +12.8% |
| Stocks and contracts in progress | 3 | €192,634 | €229,781 | +€37,146 | +19.3% |
| Stocks | 30/36 | €192,634 | €229,781 | +€37,146 | +19.3% |
| Amounts receivable within one year | 40/41 | €1,776 | €1,257 | -€520 | -29.3% |
| Other amounts receivable | 41 | €1,776 | €1,257 | -€520 | -29.3% |
| Cash at bank and in hand | 54/58 | €11,607 | €5,560 | -€6,047 | -52.1% |
| Deferred charges and accrued income | 490/1 | €3,746 | - | -€3,746 | |
| Total equity and liabilities | 10/49 | €217,414 | €241,835 | +€24,421 | +11.2% |
| Equity | 10/15 | -€13,201 | -€25,169 | -€11,968 | -90.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,261 | -€33,229 | -€11,968 | -56.3% |
| Amounts payable | 17/49 | €230,616 | €267,005 | +€36,389 | +15.8% |
| Amounts payable within one year | 42/48 | €230,616 | €267,005 | +€36,389 | +15.8% |
| Trade debts | 44 | €8,208 | €7,125 | -€1,083 | -13.2% |
| Suppliers | 440/4 | €8,208 | €7,125 | -€1,083 | -13.2% |
| Taxes, remuneration and social security | 45 | €12,257 | €15,998 | +€3,741 | +30.5% |
| Taxes | 450/3 | €12,257 | €15,998 | +€3,741 | +30.5% |
| Other amounts payable | 47/48 | €210,151 | €243,882 | +€33,732 | +16.1% |
| Remuneration, social security and pensions | 62 | €4,055 | €5,118 | +€1,063 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,395 | €2,413 | +€18 | +0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €135 | €3,423 | +€3,287 | +2,426% |
| Other operating charges | 640/8 | €908 | €995 | +€87 | +9.6% |
| Gross operating margin | 9900 | €2,451 | -€5,811 | -€8,263 | |
| Operating profit (loss) | 9901 | -€5,042 | -€17,760 | -€12,718 | -252% |
| Financial income | 75/76B | €7,207 | €7,744 | +€537 | +7.5% |
| Recurring financial income | 75 | €7,207 | €7,744 | +€537 | +7.5% |
| Financial charges | 65/66B | €889 | €1,953 | +€1,064 | +120% |
| Recurring financial charges | 65 | €889 | €1,953 | +€1,064 | +120% |
| Profit (loss) for the period before taxes | 9903 | €1,277 | -€11,968 | -€13,245 | |
| Income taxes | 67/77 | €2,285 | - | -€2,285 | |
| Profit (loss) for the period | 9904 | -€1,008 | -€11,968 | -€10,960 | -1,087% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,008 | -€11,968 | -€10,960 | -1,087% |
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 19 October 2026 via checked.be.