HERFLY: 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.
What changed
HERFLY
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€6,700
2024 · €928-€7,628
Equity
€283,251
2024 · €289,950-€6,700
Cash
€13,046
2024 · €16,209-€3,163
Balance sheet total
€754,426
2024 · €783,122-€28,696
Largest movements
Assets
- Tangible fixed assets -€25,439
down €25,439 (-3.3%), from €763,999 to €738,560
of which Land and buildings: -€25,959
Equity and liabilities
- Debts after one year -€8,864
down €8,864 (-4.3%), from €207,402 to €198,538
- Other debts -€8,855
down €8,855 (-3.8%), from €235,247 to €226,392
Income statement
- Financial charges +€4,773
up €4,773 (+130.5%), from €3,658 to €8,431
- Other operating charges +€3,825
up €3,825 (+195.4%), from €1,957 to €5,782
- Gross operating margin +€374
up €374 (+1.1%), from €33,550 to €33,924
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.
Result 2024
€928
Gross operating margin
+€374
Depreciation
+€302
Other operating charges
-€3,825
Financial charges
-€4,773
Taxes
+€294
Result 2025
-€6,700
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.
From operations
+€9,854
Investment
-€2,250
Financing
-€10,767
Cash 2024
€16,209
From operations (derived)
+€9,854
Net result for the year
-€6,700
Depreciation
+€27,689
Receivables within one year
-€138
Deferred charges and accrued income
+€232
Provisions
-€1,278
Trade debts
-€97
Other debts
-€8,855
Accrued charges and deferred income
-€1,000
Investment (derived)
-€2,250
Investment in fixed assets (net)
-€2,250
Financing
-€10,767
Debts after one year
-€8,864
Current portion of long-term debt
-€1,903
Cash 2025
€13,046
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €783,122 | €754,426 | -€28,696 | -3.7% |
| Fixed assets | 21/28 | €763,999 | €738,560 | -€25,439 | -3.3% |
| Tangible fixed assets | 22/27 | €763,999 | €738,560 | -€25,439 | -3.3% |
| Land and buildings | 22 | €755,151 | €729,192 | -€25,959 | -3.4% |
| Plant, machinery and equipment | 23 | €8,848 | €7,213 | -€1,635 | -18.5% |
| Furniture and vehicles | 24 | - | €2,155 | +€2,155 | |
| Current assets | 29/58 | €19,123 | €15,866 | -€3,258 | -17.0% |
| Amounts receivable within one year | 40/41 | €2,445 | €2,583 | +€138 | +5.6% |
| Other amounts receivable | 41 | €2,445 | €2,583 | +€138 | +5.6% |
| Cash at bank and in hand | 54/58 | €16,209 | €13,046 | -€3,163 | -19.5% |
| Deferred charges and accrued income | 490/1 | €470 | €237 | -€232 | -49.4% |
| Total equity and liabilities | 10/49 | €783,122 | €754,426 | -€28,696 | -3.7% |
| Equity | 10/15 | €289,950 | €283,251 | -€6,700 | -2.3% |
| Contributions | 10/11 | €136,341 | €136,341 | = | 0.0% |
| Capital | 10 | €136,341 | €136,341 | = | 0.0% |
| Issued capital | 100 | €136,341 | €136,341 | = | 0.0% |
| Reserves | 13 | €153,609 | €146,909 | -€6,700 | -4.4% |
| Non-distributable reserves | 130/1 | €13,634 | €13,634 | = | 0.0% |
| Legal reserve | 130 | €13,634 | €13,634 | = | 0.0% |
| Tax-exempt reserves | 132 | €108,324 | €104,490 | -€3,834 | -3.5% |
| Distributable reserves | 133 | €31,650 | €28,785 | -€2,865 | -9.1% |
| Provisions and deferred taxes | 16 | €36,108 | €34,830 | -€1,278 | -3.5% |
| Deferred taxes | 168 | €36,108 | €34,830 | -€1,278 | -3.5% |
| Amounts payable | 17/49 | €457,064 | €436,345 | -€20,719 | -4.5% |
| Amounts payable after more than one year | 17 | €207,402 | €198,538 | -€8,864 | -4.3% |
| Financial debts | 170/4 | €207,402 | €198,538 | -€8,864 | -4.3% |
| Amounts payable within one year | 42/48 | €248,662 | €237,807 | -€10,854 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €12,895 | €10,992 | -€1,903 | -14.8% |
| Trade debts | 44 | €226 | €129 | -€97 | -42.8% |
| Suppliers | 440/4 | €226 | €129 | -€97 | -42.8% |
| Taxes, remuneration and social security | 45 | €294 | €294 | = | 0.0% |
| Taxes | 450/3 | €294 | €294 | = | 0.0% |
| Other amounts payable | 47/48 | €235,247 | €226,392 | -€8,855 | -3.8% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,991 | €27,689 | -€302 | -1.1% |
| Other operating charges | 640/8 | €1,957 | €5,782 | +€3,825 | +195.4% |
| Gross operating margin | 9900 | €33,550 | €33,924 | +€374 | +1.1% |
| Operating profit (loss) | 9901 | €3,602 | €454 | -€3,148 | -87.4% |
| Financial charges | 65/66B | €3,658 | €8,431 | +€4,773 | +130.5% |
| Recurring financial charges | 65 | €3,658 | €8,431 | +€4,773 | +130.5% |
| Profit (loss) for the period before taxes | 9903 | -€56 | -€7,978 | -€7,922 | -14143.4% |
| Transfer from deferred taxes | 780 | €1,278 | €1,278 | = | 0.0% |
| Income taxes | 67/77 | €294 | - | -€294 | |
| Profit (loss) for the period | 9904 | €928 | -€6,700 | -€7,628 | |
| Transfer from tax-exempt reserves | 789 | €3,834 | €3,834 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,763 | -€2,865 | -€7,628 |
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 2 October 2026 via checked.be.