HERGOT OLIVIER: 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.
HERGOT OLIVIER
Largest movements
- Cash +€24,922
up €24,922 (+1,782%), from €1,398 to €26,320
mainly Debts after one year (+€42,932) and Receivables within one year (+€12,355)
- Receivables within one year -€12,355
down €12,355 (-17.0%), from €72,594 to €60,239
of which Trade receivables: -€13,216
- Tangible fixed assets -€2,621
down €2,621 (-6.0%), from €43,714 to €41,092
of which Plant, machinery and equipment: -€2,621
- Stocks and contracts -€2,042
down €2,042 (-7.0%), from €29,112 to €27,071
- Debts after one year +€42,932
up €42,932 (+8,862%), from €484 to €43,417
- Trade debts -€37,258
down €37,258 (-37.0%), from €100,671 to €63,412
- Short-term financial debts -€8,952
no longer reported in 2025 (was €8,952)
- Current portion of long-term debt +€4,186
up €4,186 (+27.2%), from €15,395 to €19,581
- Profit (loss) carried forward +€3,537
up €3,537 (+8.2%), from -€43,296 to -€39,759
- Gross operating margin +€29,329
up €29,329 (+18.4%), from €159,543 to €188,872
- Staff costs -€13,657
down €13,657 (-7.2%), from €189,162 to €175,506
- Financial charges +€2,304
up €2,304 (+182%), from €1,269 to €3,572
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 | €153,311 | €161,215 | +€7,904 | +5.2% |
| Fixed assets | 21/28 | €50,207 | €47,585 | -€2,621 | -5.2% |
| Tangible fixed assets | 22/27 | €43,714 | €41,092 | -€2,621 | -6.0% |
| Land and buildings | 22 | €20,352 | €20,352 | = | 0.0% |
| Plant, machinery and equipment | 23 | €23,362 | €20,740 | -€2,621 | -11.2% |
| Financial fixed assets | 28 | €6,493 | €6,493 | = | 0.0% |
| Current assets | 29/58 | €103,104 | €113,630 | +€10,525 | +10.2% |
| Stocks and contracts in progress | 3 | €29,112 | €27,071 | -€2,042 | -7.0% |
| Stocks | 30/36 | €29,112 | €27,071 | -€2,042 | -7.0% |
| Amounts receivable within one year | 40/41 | €72,594 | €60,239 | -€12,355 | -17.0% |
| Trade receivables | 40 | €59,116 | €45,900 | -€13,216 | -22.4% |
| Other amounts receivable | 41 | €13,478 | €14,339 | +€861 | +6.4% |
| Cash at bank and in hand | 54/58 | €1,398 | €26,320 | +€24,922 | +1,782% |
| Total equity and liabilities | 10/49 | €153,311 | €161,215 | +€7,904 | +5.2% |
| Equity | 10/15 | €21,726 | €25,264 | +€3,537 | +16.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €3,522 | €3,522 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,522 | €3,522 | = | 0.0% |
| Legal reserve | 130 | €3,522 | €3,522 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,296 | -€39,759 | +€3,537 | +8.2% |
| Amounts payable | 17/49 | €131,585 | €135,951 | +€4,366 | +3.3% |
| Amounts payable after more than one year | 17 | €484 | €43,417 | +€42,932 | +8,862% |
| Financial debts | 170/4 | €484 | €43,417 | +€42,932 | +8,862% |
| Amounts payable within one year | 42/48 | €131,100 | €92,534 | -€38,566 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €15,395 | €19,581 | +€4,186 | +27.2% |
| Financial debts | 43 | €8,952 | - | -€8,952 | |
| Credit institutions | 430/8 | €8,952 | - | -€8,952 | |
| Trade debts | 44 | €100,671 | €63,412 | -€37,258 | -37.0% |
| Suppliers | 440/4 | €100,671 | €63,412 | -€37,258 | -37.0% |
| Taxes, remuneration and social security | 45 | €6,083 | €9,540 | +€3,458 | +56.8% |
| Taxes | 450/3 | €547 | €3,356 | +€2,809 | +514% |
| Remuneration and social security | 454/9 | €5,536 | €6,185 | +€649 | +11.7% |
| Remuneration, social security and pensions | 62 | €189,162 | €175,506 | -€13,657 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,621 | €2,621 | = | 0.0% |
| Other operating charges | 640/8 | €3,987 | €3,635 | -€351 | -8.8% |
| Gross operating margin | 9900 | €159,543 | €188,872 | +€29,329 | +18.4% |
| Operating profit (loss) | 9901 | -€36,227 | €7,110 | +€43,337 | |
| Financial income | 75/76B | €42 | - | -€42 | |
| Recurring financial income | 75 | €42 | - | -€42 | |
| Financial charges | 65/66B | €1,269 | €3,572 | +€2,304 | +182% |
| Recurring financial charges | 65 | €1,269 | €3,572 | +€2,304 | +182% |
| Profit (loss) for the period before taxes | 9903 | -€37,454 | €3,537 | +€40,992 | |
| Income taxes | 67/77 | €1,571 | - | -€1,571 | |
| Profit (loss) for the period | 9904 | -€39,025 | €3,537 | +€42,562 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,025 | €3,537 | +€42,562 |
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 29 October 2026 via checked.be.