HERI: 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
HERI
NACE 01.110, Growing of cereals (except rice), leguminous crops and oil seeds
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€989,654
2024 · €1.5m-€532,783
Equity
€7.8m
2024 · €6.7m+€1.0m
Cash
€1.1m
2024 · €667,420+€382,813
Balance sheet total
€14.0m
2024 · €12.4m+€1.6m
Largest movements
Assets
- Tangible fixed assets +€1.7m
up €1.7m (+21.5%), from €8.0m to €9.8m
of which Plant, machinery and equipment: +€1.7m
- Current investments -€1.0m
no longer reported in 2025 (was €1.0m)
- Deferred charges and accrued income +€440,107
up €440,107 (+57.7%), from €762,426 to €1.2m
- Cash +€382,813
up €382,813 (+57.4%), from €667,420 to €1.1m
mainly Depreciation (+€1.2m) and Current investments (+€1.0m)
Equity and liabilities
- Profit (loss) carried forward +€833,731
up €833,731 (+20.1%), from €4.1m to €5.0m
- Trade debts +€497,049
up €497,049 (+44.0%), from €1.1m to €1.6m
- Debts after one year +€407,368
up €407,368 (+14.2%), from €2.9m to €3.3m
of which Financial debts: +€405,018
- Accrued charges and deferred income -€378,758
down €378,758 (-99.9%), from €379,208 to €450
- Tax, wage and social debts -€363,607
down €363,607 (-72.5%), from €501,595 to €137,989
of which Taxes: -€384,983
Income statement
- Gross operating margin -€1.0m
down €1.0m (-24.6%), from €4.1m to €3.1m
- Taxes -€362,933
down €362,933 (-89.8%), from €404,153 to €41,220
- Write-downs -€247,925
no longer reported in 2025 (was €247,925)
- Depreciation +€169,144
up €169,144 (+17.2%), from €982,398 to €1.2m
- Financial income +€88,582
up €88,582 (+213.3%), from €41,530 to €130,112
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
€1.5m
Gross operating margin
-€1.0m
Staff costs
-€48,729
Depreciation
-€169,144
Write-downs
+€247,925
Other operating charges
+€17,032
Financial income
+€88,582
Financial charges
-€27,320
Taxes
+€362,933
Deferred taxes and other
-€3,269
Result 2025
€989,654
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
+€1.9m
Investment
-€2.0m
Financing
+€453,834
Cash 2024
€667,420
From operations (derived)
+€1.9m
Net result for the year
+€989,654
Depreciation
+€1.2m
Stocks and contracts
+€8,929
Receivables within one year
+€48,917
Deferred charges and accrued income
-€440,107
Provisions
+€51,974
Trade debts
+€497,049
Tax, wage and social debts
-€363,607
Other debts
+€346,146
Accrued charges and deferred income
-€378,758
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€3.0m
Current investments
+€1.0m
Financing
+€453,834
Debts after one year
+€407,368
Current portion of long-term debt
+€22,740
Contributions, distributions and other
+€23,726
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,363,226 | €13,959,519 | +€1.6m | +12.9% |
| Fixed assets | 21/28 | €8,051,082 | €9,882,301 | +€1.8m | +22.7% |
| Tangible fixed assets | 22/27 | €8,049,854 | €9,781,073 | +€1.7m | +21.5% |
| Land and buildings | 22 | €5,610,211 | €5,535,489 | -€74,722 | -1.3% |
| Plant, machinery and equipment | 23 | €2,330,142 | €4,068,942 | +€1.7m | +74.6% |
| Furniture and vehicles | 24 | €109,500 | €176,642 | +€67,142 | +61.3% |
| Financial fixed assets | 28 | €1,228 | €101,228 | +€100,000 | +8142.5% |
| Current assets | 29/58 | €4,312,145 | €4,077,219 | -€234,926 | -5.4% |
| Stocks and contracts in progress | 3 | €102,500 | €93,571 | -€8,929 | -8.7% |
| Stocks | 30/36 | €102,500 | €93,571 | -€8,929 | -8.7% |
| Amounts receivable within one year | 40/41 | €1,779,799 | €1,730,882 | -€48,917 | -2.7% |
| Trade receivables | 40 | €849,227 | €525,845 | -€323,382 | -38.1% |
| Other amounts receivable | 41 | €930,572 | €1,205,037 | +€274,465 | +29.5% |
| Current investments | 50/53 | €1,000,000 | - | -€1.0m | |
| Cash at bank and in hand | 54/58 | €667,420 | €1,050,233 | +€382,813 | +57.4% |
| Deferred charges and accrued income | 490/1 | €762,426 | €1,202,532 | +€440,107 | +57.7% |
| Total equity and liabilities | 10/49 | €12,363,226 | €13,959,519 | +€1.6m | +12.9% |
| Equity | 10/15 | €6,746,057 | €7,759,437 | +€1.0m | +15.0% |
| Contributions | 10/11 | €1,270,160 | €1,270,160 | = | 0.0% |
| Outside capital | 11 | €1,270,160 | €1,270,160 | = | 0.0% |
| Other | 1109/19 | €1,270,160 | €1,270,160 | = | 0.0% |
| Reserves | 13 | €1,326,721 | €1,482,645 | +€155,923 | +11.8% |
| Non-distributable reserves | 130/1 | €127,016 | €127,016 | = | 0.0% |
| Reserves not available under the articles | 1311 | €127,016 | €127,016 | = | 0.0% |
| Tax-exempt reserves | 132 | €199,705 | €355,629 | +€155,923 | +78.1% |
| Distributable reserves | 133 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,139,101 | €4,972,831 | +€833,731 | +20.1% |
| Investment grants | 15 | €10,075 | €33,801 | +€23,726 | +235.5% |
| Provisions and deferred taxes | 16 | €54,068 | €106,043 | +€51,974 | +96.1% |
| Deferred taxes | 168 | €54,068 | €106,043 | +€51,974 | +96.1% |
| Amounts payable | 17/49 | €5,563,101 | €6,094,039 | +€530,938 | +9.5% |
| Amounts payable after more than one year | 17 | €2,865,664 | €3,273,032 | +€407,368 | +14.2% |
| Financial debts | 170/4 | €2,865,664 | €3,270,682 | +€405,018 | +14.1% |
| Other amounts payable | 178/9 | - | €2,350 | +€2,350 | |
| Amounts payable within one year | 42/48 | €2,318,229 | €2,820,558 | +€502,329 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €632,863 | €655,603 | +€22,740 | +3.6% |
| Trade debts | 44 | €1,128,471 | €1,625,520 | +€497,049 | +44.0% |
| Suppliers | 440/4 | €1,128,471 | €1,625,520 | +€497,049 | +44.0% |
| Taxes, remuneration and social security | 45 | €501,595 | €137,989 | -€363,607 | -72.5% |
| Taxes | 450/3 | €431,823 | €46,840 | -€384,983 | -89.2% |
| Remuneration and social security | 454/9 | €69,773 | €91,148 | +€21,376 | +30.6% |
| Other amounts payable | 47/48 | €55,300 | €401,446 | +€346,146 | +625.9% |
| Accrued charges and deferred income | 492/3 | €379,208 | €450 | -€378,758 | -99.9% |
| Remuneration, social security and pensions | 62 | €747,797 | €796,526 | +€48,729 | +6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €982,398 | €1,151,542 | +€169,144 | +17.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €247,925 | - | -€247,925 | |
| Other operating charges | 640/8 | €67,363 | €50,331 | -€17,032 | -25.3% |
| Gross operating margin | 9900 | €4,060,852 | €3,060,059 | -€1.0m | -24.6% |
| Operating profit (loss) | 9901 | €2,015,369 | €1,061,661 | -€953,708 | -47.3% |
| Financial income | 75/76B | €41,530 | €130,112 | +€88,582 | +213.3% |
| Recurring financial income | 75 | €41,530 | €130,112 | +€88,582 | +213.3% |
| Financial charges | 65/66B | €81,603 | €108,923 | +€27,320 | +33.5% |
| Recurring financial charges | 65 | €81,603 | €108,923 | +€27,320 | +33.5% |
| Profit (loss) for the period before taxes | 9903 | €1,975,295 | €1,082,849 | -€892,446 | -45.2% |
| Transfer from deferred taxes | 780 | €11,170 | €24,401 | +€13,231 | +118.5% |
| Transfer to deferred taxes | 680 | €59,875 | €76,375 | +€16,500 | +27.6% |
| Income taxes | 67/77 | €404,153 | €41,220 | -€362,933 | -89.8% |
| Profit (loss) for the period | 9904 | €1,522,437 | €989,654 | -€532,783 | -35.0% |
| Transfer from tax-exempt reserves | 789 | €12,057 | €73,202 | +€61,145 | +507.2% |
| Transfer to tax-exempt reserves | 689 | €179,625 | €229,125 | +€49,500 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,354,868 | €833,731 | -€521,138 | -38.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.