HERFURTH & CO: 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.
What changed
HERFURTH & CO
NACE 52.249, Warehousing and support activities for transportation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€222,385
2024 · €7.7m-€7.9m
Equity
€23.9m
2024 · €24.1m-€222,385
Cash
€880,934
2024 · €2.1m-€1.2m
Balance sheet total
€53.9m
2024 · €56.0m-€2.2m
Largest movements
Assets
- Current investments -€5.8m
down €5.8m (-16.7%), from €34.7m to €28.9m
- Receivables after one year +€2.5m
up €2.5m (+154%), from €1.6m to €4.1m
- Receivables within one year +€2.1m
up €2.1m (+49.9%), from €4.1m to €6.2m
of which Trade receivables: +€1.8m
- Cash -€1.2m
down €1.2m (-57.7%), from €2.1m to €880,934
mainly Other debts (-€5.0m) and Receivables after one year (-€2.5m)
- Financial fixed assets -€725,117
down €725,117 (-6.5%), from €11.2m to €10.5m
of which Affiliated companies: -€725,117
Equity and liabilities
- Other debts -€5.0m
down €5.0m (-94.8%), from €5.3m to €273,632
- Short-term financial debts +€4.4m
up €4.4m (+22.3%), from €19.6m to €23.9m
- Trade debts -€769,169
down €769,169 (-16.9%), from €4.6m to €3.8m
Income statement
- Financial income -€6.9m
down €6.9m (-82.1%), from €8.4m to €1.5m
- Services and other goods +€1.3m
up €1.3m (+43.8%), from €3.0m to €4.4m
- Turnover +€850,853
up €850,853 (+24.9%), from €3.4m to €4.3m
- Financial charges +€512,574
up €512,574 (+57.2%), from €895,490 to €1.4m
of which Non-recurring financial charges: +€725,117
- Provisions -€167,731
new in 2025: -€167,731
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
€7.7m
Turnover
+€850,853
Other operating income
-€636
Services and other goods
-€1.3m
Depreciation
-€71,941
Write-downs
-€71,383
Provisions
+€167,731
Other operating charges
-€25,593
Financial income
-€6.9m
Financial charges
-€512,574
Taxes
-€6,537
Result 2025
-€222,385
raises the resultlowers the result
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.
From operations
-€10.9m
Investment
+€5.7m
Financing
+€4.0m
Cash 2024
€2.1m
From operations (derived)
-€10.9m
Net result for the year
-€222,385
Depreciation
+€197,145
Receivables after one year
-€2.5m
Receivables within one year
-€2.1m
Deferred charges and accrued income
-€368,322
Provisions
-€167,731
Trade debts
-€769,169
Other debts
-€5.0m
Investment (derived)
+€5.7m
Investment in fixed assets (net)
-€111,470
Current investments
+€5.8m
Financing
+€4.0m
Debts after one year
-€373,713
Current portion of long-term debt
+€7,488
Short-term financial debts
+€4.4m
Cash 2025
€880,934
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €56,045,003 | €53,857,507 | -€2.2m | -3.9% |
| Fixed assets | 21/28 | €13,398,997 | €13,313,322 | -€85,675 | -0.6% |
| Tangible fixed assets | 22/27 | €2,194,721 | €2,834,162 | +€639,441 | +29.1% |
| Land and buildings | 22 | €106,923 | €106,923 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €164,140 | +€164,140 | |
| Furniture and vehicles | 24 | €26,543 | €274,957 | +€248,414 | +936% |
| Leasing and similar rights | 25 | €1,874,194 | €1,760,701 | -€113,493 | -6.1% |
| Other tangible fixed assets | 26 | €38,114 | €467,442 | +€429,327 | +1,126% |
| Assets under construction and advance payments | 27 | €148,947 | €60,000 | -€88,947 | -59.7% |
| Financial fixed assets | 28 | €11,204,277 | €10,479,160 | -€725,117 | -6.5% |
| Affiliated companies | 280/1 | €11,203,037 | €10,477,920 | -€725,117 | -6.5% |
| Participating interests | 280 | €11,203,037 | €10,477,920 | -€725,117 | -6.5% |
| Other financial fixed assets | 284/8 | €1,239 | €1,239 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €1,239 | €1,239 | = | 0.0% |
| Current assets | 29/58 | €42,646,006 | €40,544,186 | -€2.1m | -4.9% |
| Amounts receivable after more than one year | 29 | €1,607,726 | €4,085,607 | +€2.5m | +154% |
| Other amounts receivable | 291 | €1,607,726 | €4,085,607 | +€2.5m | +154% |
| Amounts receivable within one year | 40/41 | €4,149,603 | €6,219,500 | +€2.1m | +49.9% |
| Trade receivables | 40 | €3,268,552 | €5,073,555 | +€1.8m | +55.2% |
| Other amounts receivable | 41 | €881,050 | €1,145,944 | +€264,894 | +30.1% |
| Current investments | 50/53 | €34,740,379 | €28,924,002 | -€5.8m | -16.7% |
| Other investments | 51/53 | €34,740,379 | €28,924,002 | -€5.8m | -16.7% |
| Cash at bank and in hand | 54/58 | €2,082,477 | €880,934 | -€1.2m | -57.7% |
| Deferred charges and accrued income | 490/1 | €65,821 | €434,143 | +€368,322 | +560% |
| Total equity and liabilities | 10/49 | €56,045,003 | €53,857,507 | -€2.2m | -3.9% |
| Equity | 10/15 | €24,140,117 | €23,917,732 | -€222,385 | -0.9% |
| Contributions | 10/11 | €2,565,000 | €2,565,000 | = | 0.0% |
| Capital | 10 | €2,565,000 | €2,565,000 | = | 0.0% |
| Issued capital | 100 | €2,565,000 | €2,565,000 | = | 0.0% |
| Reserves | 13 | €21,575,117 | €21,352,732 | -€222,385 | -1.0% |
| Non-distributable reserves | 130/1 | €256,500 | €256,500 | = | 0.0% |
| Legal reserve | 130 | €256,500 | €256,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,243,375 | €1,243,375 | = | 0.0% |
| Distributable reserves | 133 | €20,075,242 | €19,852,857 | -€222,385 | -1.1% |
| Provisions and deferred taxes | 16 | €247,762 | €80,031 | -€167,731 | -67.7% |
| Provisions for liabilities and charges | 160/5 | €247,762 | €80,031 | -€167,731 | -67.7% |
| Major repairs and maintenance | 162 | €167,731 | - | -€167,731 | |
| Other liabilities and charges | 164/5 | €80,031 | €80,031 | = | 0.0% |
| Amounts payable | 17/49 | €31,657,124 | €29,859,744 | -€1.8m | -5.7% |
| Amounts payable after more than one year | 17 | €2,081,552 | €1,707,839 | -€373,713 | -18.0% |
| Financial debts | 170/4 | €1,795,688 | €1,641,837 | -€153,850 | -8.6% |
| Leasing and similar obligations | 172 | €1,795,688 | €1,641,837 | -€153,850 | -8.6% |
| Other amounts payable | 178/9 | €285,865 | €66,002 | -€219,863 | -76.9% |
| Amounts payable within one year | 42/48 | €29,575,571 | €28,151,904 | -€1.4m | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €146,362 | €153,850 | +€7,488 | +5.1% |
| Financial debts | 43 | €19,566,405 | €23,934,907 | +€4.4m | +22.3% |
| Other loans | 439 | €19,566,405 | €23,934,907 | +€4.4m | +22.3% |
| Trade debts | 44 | €4,558,684 | €3,789,515 | -€769,169 | -16.9% |
| Suppliers | 440/4 | €4,558,684 | €3,789,515 | -€769,169 | -16.9% |
| Other amounts payable | 47/48 | €5,304,120 | €273,632 | -€5.0m | -94.8% |
| Operating income | 70/76A | €3,432,938 | €4,283,155 | +€850,217 | +24.8% |
| Turnover | 70 | €3,423,221 | €4,274,074 | +€850,853 | +24.9% |
| Other operating income | 74 | €9,717 | €9,081 | -€636 | -6.5% |
| Operating charges | 60/66A | €3,266,752 | €4,599,972 | +€1.3m | +40.8% |
| Services and other goods | 61 | €3,039,847 | €4,371,880 | +€1.3m | +43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,204 | €197,145 | +€71,941 | +57.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,568 | €77,952 | +€71,383 | +1,087% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€167,731 | -€167,731 | |
| Other operating charges | 640/8 | €95,133 | €120,726 | +€25,593 | +26.9% |
| Operating profit (loss) | 9901 | €166,186 | -€316,818 | -€483,003 | |
| Financial income | 75/76B | €8,380,681 | €1,502,497 | -€6.9m | -82.1% |
| Recurring financial income | 75 | €8,380,681 | €1,502,497 | -€6.9m | -82.1% |
| Income from financial fixed assets | 750 | €7,595,584 | €925,419 | -€6.7m | -87.8% |
| Income from current assets | 751 | €784,954 | €574,660 | -€210,294 | -26.8% |
| Other financial income | 752/9 | €143 | €2,418 | +€2,275 | +1,591% |
| Financial charges | 65/66B | €895,490 | €1,408,065 | +€512,574 | +57.2% |
| Recurring financial charges | 65 | €895,490 | €682,948 | -€212,542 | -23.7% |
| Debt charges | 650 | €856,040 | €479,085 | -€376,956 | -44.0% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €169,338 | +€169,338 | |
| Other financial charges | 652/9 | €39,450 | €34,525 | -€4,925 | -12.5% |
| Non-recurring financial charges | 66B | - | €725,117 | +€725,117 | |
| Profit (loss) for the period before taxes | 9903 | €7,651,376 | -€222,385 | -€7.9m | |
| Income taxes | 67/77 | -€6,537 | - | +€6,537 | |
| Taxes | 670/3 | €19,600 | - | -€19,600 | |
| Tax adjustments and reversals of tax provisions | 77 | €26,137 | - | -€26,137 | |
| Profit (loss) for the period | 9904 | €7,657,913 | -€222,385 | -€7.9m | |
| Profit (loss) for the period to be appropriated | 9905 | €7,657,913 | -€222,385 | -€7.9m |
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 1 November 2026 via checked.be.