HERJACO: 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.
HERJACO
Largest movements
- Tangible fixed assets -€54,335
down €54,335 (-10.5%), from €517,024 to €462,689
of which Plant, machinery and equipment: -€45,051
- Deferred charges and accrued income +€10,636
up €10,636 (+110.6%), from €9,618 to €20,253
- Stocks and contracts +€9,629
up €9,629 (+5.9%), from €163,389 to €173,018
- Receivables within one year +€8,207
up €8,207 (+12.3%), from €66,943 to €75,150
of which Trade receivables: +€7,450
- Profit (loss) carried forward -€41,916
down €41,916 (-15.3%), from -€273,984 to -€315,900
- Short-term financial debts +€40,000
new in 2025: €40,000
- Other debts -€26,029
down €26,029 (-3.1%), from €835,608 to €809,579
- Trade debts +€8,130
up €8,130 (+4.9%), from €164,874 to €173,004
- Gross operating margin -€17,756
down €17,756 (-26.0%), from €68,216 to €50,459
- Depreciation +€2,551
up €2,551 (+3.0%), from €85,975 to €88,526
- Financial charges +€967
up €967 (+785.6%), from €123 to €1,090
- Other operating charges -€735
down €735 (-24.2%), from €3,040 to €2,305
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 | €778,778 | €758,808 | -€19,970 | -2.6% |
| Fixed assets | 21/28 | €536,335 | €482,000 | -€54,335 | -10.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €517,024 | €462,689 | -€54,335 | -10.5% |
| Land and buildings | 22 | €68,847 | €59,754 | -€9,093 | -13.2% |
| Plant, machinery and equipment | 23 | €447,986 | €402,935 | -€45,051 | -10.1% |
| Furniture and vehicles | 24 | €191 | €0 | -€191 | -100.0% |
| Financial fixed assets | 28 | €19,311 | €19,311 | = | 0.0% |
| Current assets | 29/58 | €242,443 | €276,808 | +€34,365 | +14.2% |
| Stocks and contracts in progress | 3 | €163,389 | €173,018 | +€9,629 | +5.9% |
| Stocks | 30/36 | €163,389 | €173,018 | +€9,629 | +5.9% |
| Amounts receivable within one year | 40/41 | €66,943 | €75,150 | +€8,207 | +12.3% |
| Trade receivables | 40 | €66,091 | €73,541 | +€7,450 | +11.3% |
| Other amounts receivable | 41 | €852 | €1,609 | +€757 | +88.9% |
| Cash at bank and in hand | 54/58 | €2,493 | €8,386 | +€5,893 | +236.4% |
| Deferred charges and accrued income | 490/1 | €9,618 | €20,253 | +€10,636 | +110.6% |
| Total equity and liabilities | 10/49 | €778,778 | €758,808 | -€19,970 | -2.6% |
| Equity | 10/15 | -€223,739 | -€265,655 | -€41,916 | -18.7% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Reserves | 13 | €14,245 | €14,245 | = | 0.0% |
| Distributable reserves | 133 | €14,245 | €14,245 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€273,984 | -€315,900 | -€41,916 | -15.3% |
| Amounts payable | 17/49 | €1,002,517 | €1,024,463 | +€21,946 | +2.2% |
| Amounts payable within one year | 42/48 | €1,002,517 | €1,024,463 | +€21,946 | +2.2% |
| Financial debts | 43 | - | €40,000 | +€40,000 | |
| Other loans | 439 | - | €40,000 | +€40,000 | |
| Trade debts | 44 | €164,874 | €173,004 | +€8,130 | +4.9% |
| Suppliers | 440/4 | €164,874 | €173,004 | +€8,130 | +4.9% |
| Taxes, remuneration and social security | 45 | €2,034 | €1,880 | -€154 | -7.6% |
| Taxes | 450/3 | €2,034 | €1,880 | -€154 | -7.6% |
| Other amounts payable | 47/48 | €835,608 | €809,579 | -€26,029 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,975 | €88,526 | +€2,551 | +3.0% |
| Other operating charges | 640/8 | €3,040 | €2,305 | -€735 | -24.2% |
| Gross operating margin | 9900 | €68,216 | €50,459 | -€17,756 | -26.0% |
| Operating profit (loss) | 9901 | -€20,800 | -€40,372 | -€19,573 | -94.1% |
| Financial income | 75/76B | €645 | €290 | -€355 | -55.1% |
| Recurring financial income | 75 | €645 | €290 | -€355 | -55.1% |
| Financial charges | 65/66B | €123 | €1,090 | +€967 | +785.6% |
| Recurring financial charges | 65 | €123 | €1,090 | +€967 | +785.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,278 | -€41,173 | -€20,895 | -103.0% |
| Income taxes | 67/77 | €747 | €743 | -€4 | -0.5% |
| Profit (loss) for the period | 9904 | -€21,025 | -€41,916 | -€20,892 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,025 | -€41,916 | -€20,892 | -99.4% |
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.