Hereno: 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.
Hereno
Largest movements
- Receivables within one year -€39,541
down €39,541 (-46.2%), from €85,677 to €46,136
of which Trade receivables: -€23,437
- Cash +€31,660
new in 2025: €31,660
mainly Receivables within one year (+€39,541) and Other debts (+€25,705)
- Tangible fixed assets -€3,504
down €3,504 (-4.7%), from €74,261 to €70,757
of which Land and buildings: -€2,470
- Deferred charges and accrued income -€2,272
down €2,272 (-45.1%), from €5,040 to €2,767
- Reserves -€35,119
down €35,119 (-64.7%), from €54,272 to €19,153
- Other debts +€25,705
up €25,705 (+326%), from €7,880 to €33,584
- Trade debts +€5,639
up €5,639 (+50.1%), from €11,250 to €16,889
- Debts after one year -€4,579
down €4,579 (-6.3%), from €72,176 to €67,597
- Short-term financial debts -€2,832
no longer reported in 2025 (was €2,832)
- Gross operating margin +€30,620
up €30,620 (+104%), from €29,369 to €59,988
- Taxes +€5,408
up €5,408 (+777%), from €696 to €6,104
- Other operating charges -€4,428
down €4,428 (-42.5%), from €10,424 to €5,996
- Financial income +€3,976
up €3,976 (+138,552%), from €3 to €3,979
- Financial charges +€2,520
up €2,520 (+49.9%), from €5,051 to €7,571
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 | €164,978 | €151,320 | -€13,658 | -8.3% |
| Fixed assets | 21/28 | €74,261 | €70,757 | -€3,504 | -4.7% |
| Tangible fixed assets | 22/27 | €74,261 | €70,757 | -€3,504 | -4.7% |
| Land and buildings | 22 | €67,650 | €65,180 | -€2,470 | -3.7% |
| Plant, machinery and equipment | 23 | €3,275 | €2,451 | -€824 | -25.2% |
| Furniture and vehicles | 24 | €3,337 | €3,127 | -€210 | -6.3% |
| Current assets | 29/58 | €90,717 | €80,563 | -€10,153 | -11.2% |
| Amounts receivable within one year | 40/41 | €85,677 | €46,136 | -€39,541 | -46.2% |
| Trade receivables | 40 | €49,058 | €25,622 | -€23,437 | -47.8% |
| Other amounts receivable | 41 | €36,619 | €20,514 | -€16,104 | -44.0% |
| Cash at bank and in hand | 54/58 | - | €31,660 | +€31,660 | |
| Deferred charges and accrued income | 490/1 | €5,040 | €2,767 | -€2,272 | -45.1% |
| Total equity and liabilities | 10/49 | €164,978 | €151,320 | -€13,658 | -8.3% |
| Equity | 10/15 | €59,272 | €24,153 | -€35,119 | -59.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €54,272 | €19,153 | -€35,119 | -64.7% |
| Distributable reserves | 133 | €54,272 | €19,153 | -€35,119 | -64.7% |
| Amounts payable | 17/49 | €105,706 | €127,168 | +€21,462 | +20.3% |
| Amounts payable after more than one year | 17 | €72,176 | €67,597 | -€4,579 | -6.3% |
| Financial debts | 170/4 | €72,176 | €67,597 | -€4,579 | -6.3% |
| Amounts payable within one year | 42/48 | €33,234 | €59,267 | +€26,032 | +78.3% |
| Current portion of amounts payable after more than one year | 42 | €5,632 | €4,955 | -€677 | -12.0% |
| Financial debts | 43 | €2,832 | - | -€2,832 | |
| Credit institutions | 430/8 | €2,832 | - | -€2,832 | |
| Trade debts | 44 | €11,250 | €16,889 | +€5,639 | +50.1% |
| Suppliers | 440/4 | €11,250 | €16,889 | +€5,639 | +50.1% |
| Taxes, remuneration and social security | 45 | €5,640 | €3,839 | -€1,802 | -31.9% |
| Taxes | 450/3 | - | €430 | +€430 | |
| Remuneration and social security | 454/9 | €5,640 | €3,409 | -€2,231 | -39.6% |
| Other amounts payable | 47/48 | €7,880 | €33,584 | +€25,705 | +326% |
| Accrued charges and deferred income | 492/3 | €296 | €304 | +€8 | +2.7% |
| Remuneration, social security and pensions | 62 | €24,962 | €25,838 | +€876 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,312 | €7,326 | +€15 | +0.2% |
| Other operating charges | 640/8 | €10,424 | €5,996 | -€4,428 | -42.5% |
| Non-recurring operating charges | 66A | €1,444 | €2,016 | +€572 | +39.6% |
| Gross operating margin | 9900 | €29,369 | €59,988 | +€30,620 | +104% |
| Operating profit (loss) | 9901 | -€14,774 | €18,812 | +€33,585 | |
| Financial income | 75/76B | €3 | €3,979 | +€3,976 | +138,552% |
| Recurring financial income | 75 | €3 | €3,979 | +€3,976 | +138,552% |
| Financial charges | 65/66B | €5,051 | €7,571 | +€2,520 | +49.9% |
| Recurring financial charges | 65 | €5,051 | €7,571 | +€2,520 | +49.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,822 | €15,220 | +€35,042 | |
| Income taxes | 67/77 | €696 | €6,104 | +€5,408 | +777% |
| Profit (loss) for the period | 9904 | -€20,518 | €9,116 | +€29,634 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,518 | €9,116 | +€29,634 |
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 14 October 2026 via checked.be.