Hergen: 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.
Hergen
Largest movements
- Cash +€124,811
up €124,811 (+16.8%), from €742,633 to €867,444
mainly Net result for the year (+€204,540) and Receivables within one year (+€106,449)
- Receivables within one year -€106,449
down €106,449 (-21.9%), from €486,703 to €380,254
of which Trade receivables: -€73,545
- Stocks and contracts -€38,448
down €38,448 (-35.4%), from €108,546 to €70,098
- Tangible fixed assets +€27,157
up €27,157 (+204.1%), from €13,306 to €40,463
of which Furniture and vehicles: +€28,518
- Reserves +€121,196
up €121,196 (+13.5%), from €899,060 to €1.0m
- Tax, wage and social debts -€46,457
down €46,457 (-28.1%), from €165,344 to €118,888
of which Taxes: -€34,435
- Short-term financial debts -€33,794
down €33,794 (-100.0%), from €33,794 to €0
- Trade debts -€30,345
down €30,345 (-12.1%), from €250,147 to €219,803
- Staff costs +€10,753
up €10,753 (+2.9%), from €366,697 to €377,450
- Gross operating margin +€9,868
up €9,868 (+1.5%), from €669,308 to €679,175
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 | €1,375,352 | €1,386,969 | +€11,617 | +0.8% |
| Fixed assets | 21/28 | €20,165 | €47,322 | +€27,157 | +134.7% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €13,306 | €40,463 | +€27,157 | +204.1% |
| Plant, machinery and equipment | 23 | €56 | €0 | -€56 | -100.0% |
| Furniture and vehicles | 24 | €5,901 | €34,420 | +€28,518 | +483.3% |
| Other tangible fixed assets | 26 | €7,348 | €6,043 | -€1,305 | -17.8% |
| Financial fixed assets | 28 | €6,859 | €6,859 | = | 0.0% |
| Current assets | 29/58 | €1,355,187 | €1,339,646 | -€15,541 | -1.1% |
| Stocks and contracts in progress | 3 | €108,546 | €70,098 | -€38,448 | -35.4% |
| Stocks | 30/36 | €108,546 | €70,098 | -€38,448 | -35.4% |
| Amounts receivable within one year | 40/41 | €486,703 | €380,254 | -€106,449 | -21.9% |
| Trade receivables | 40 | €420,769 | €347,224 | -€73,545 | -17.5% |
| Other amounts receivable | 41 | €65,935 | €33,030 | -€32,905 | -49.9% |
| Cash at bank and in hand | 54/58 | €742,633 | €867,444 | +€124,811 | +16.8% |
| Deferred charges and accrued income | 490/1 | €17,305 | €21,850 | +€4,545 | +26.3% |
| Total equity and liabilities | 10/49 | €1,375,352 | €1,386,969 | +€11,617 | +0.8% |
| Equity | 10/15 | €917,660 | €1,038,856 | +€121,196 | +13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €899,060 | €1,020,256 | +€121,196 | +13.5% |
| Distributable reserves | 133 | €899,060 | €1,020,256 | +€121,196 | +13.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €457,692 | €348,113 | -€109,579 | -23.9% |
| Amounts payable within one year | 42/48 | €451,642 | €348,113 | -€103,529 | -22.9% |
| Financial debts | 43 | €33,794 | €0 | -€33,794 | -100.0% |
| Credit institutions | 430/8 | €33,794 | €0 | -€33,794 | -100.0% |
| Trade debts | 44 | €250,147 | €219,803 | -€30,345 | -12.1% |
| Suppliers | 440/4 | €250,147 | €219,803 | -€30,345 | -12.1% |
| Advances received on contracts in progress | 46 | - | €9,423 | +€9,423 | |
| Taxes, remuneration and social security | 45 | €165,344 | €118,888 | -€46,457 | -28.1% |
| Taxes | 450/3 | €96,440 | €62,005 | -€34,435 | -35.7% |
| Remuneration and social security | 454/9 | €68,905 | €56,882 | -€12,022 | -17.4% |
| Other amounts payable | 47/48 | €2,357 | €0 | -€2,357 | -100.0% |
| Accrued charges and deferred income | 492/3 | €6,050 | €0 | -€6,050 | -100.0% |
| Remuneration, social security and pensions | 62 | €366,697 | €377,450 | +€10,753 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,846 | €13,286 | +€6,440 | +94.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,008 | €0 | +€1,008 | |
| Other operating charges | 640/8 | €4,027 | €4,623 | +€596 | +14.8% |
| Gross operating margin | 9900 | €669,308 | €679,175 | +€9,868 | +1.5% |
| Operating profit (loss) | 9901 | €292,746 | €283,817 | -€8,929 | -3.0% |
| Financial income | 75/76B | €4,281 | €1,540 | -€2,740 | -64.0% |
| Recurring financial income | 75 | €4,281 | €1,540 | -€2,740 | -64.0% |
| Financial charges | 65/66B | €4,002 | €2,307 | -€1,695 | -42.3% |
| Recurring financial charges | 65 | €4,002 | €2,307 | -€1,695 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €293,024 | €283,050 | -€9,974 | -3.4% |
| Income taxes | 67/77 | €81,157 | €78,510 | -€2,647 | -3.3% |
| Profit (loss) for the period | 9904 | €211,867 | €204,540 | -€7,327 | -3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €211,867 | €204,540 | -€7,327 | -3.5% |
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 4 October 2026 via checked.be.