Herlan: 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.
Herlan
Largest movements
- Cash +€28,993
up €28,993 (+97.3%), from €29,797 to €58,790
mainly Tax, wage and social debts (+€29,066) and Depreciation (+€17,556)
- Tangible fixed assets -€12,005
down €12,005 (-13.6%), from €88,480 to €76,474
of which Plant, machinery and equipment: -€6,268
- Receivables within one year -€3,899
down €3,899 (-49.8%), from €7,823 to €3,924
of which Trade receivables: -€3,377
- Stocks and contracts +€3,004
up €3,004 (+34.8%), from €8,624 to €11,627
- Tax, wage and social debts +€29,066
up €29,066 (+1,031%), from €2,819 to €31,885
of which Taxes: +€21,972
- Debts after one year -€27,932
down €27,932 (-35.2%), from €79,265 to €51,333
of which Financial debts: -€14,800
- Reserves +€12,318
up €12,318 (+276%), from €4,462 to €16,780
- Current portion of long-term debt +€8,873
up €8,873 (+160%), from €5,532 to €14,405
- Trade debts -€8,773
down €8,773 (-19.7%), from €44,603 to €35,829
- Gross operating margin +€70,924
up €70,924 (+308%), from €22,993 to €93,917
- Staff costs +€41,053
up €41,053 (+389%), from €10,550 to €51,603
- Depreciation +€13,453
up €13,453 (+328%), from €4,103 to €17,556
- Taxes +€4,261
up €4,261 (+3,251%), from €131 to €4,392
- Financial charges +€3,716
up €3,716 (+127%), from €2,920 to €6,636
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 | €143,296 | €157,831 | +€14,535 | +10.1% |
| Formation expenses | 20 | €4,469 | €3,518 | -€952 | -21.3% |
| Fixed assets | 21/28 | €91,454 | €78,825 | -€12,629 | -13.8% |
| Intangible fixed assets | 21 | €2,975 | €2,351 | -€624 | -21.0% |
| Tangible fixed assets | 22/27 | €88,480 | €76,474 | -€12,005 | -13.6% |
| Plant, machinery and equipment | 23 | €61,077 | €54,808 | -€6,268 | -10.3% |
| Furniture and vehicles | 24 | €600 | €471 | -€129 | -21.4% |
| Leasing and similar rights | 25 | €14,359 | €11,384 | -€2,975 | -20.7% |
| Other tangible fixed assets | 26 | €12,444 | €9,811 | -€2,633 | -21.2% |
| Current assets | 29/58 | €47,373 | €75,488 | +€28,115 | +59.3% |
| Stocks and contracts in progress | 3 | €8,624 | €11,627 | +€3,004 | +34.8% |
| Stocks | 30/36 | €8,624 | €11,627 | +€3,004 | +34.8% |
| Amounts receivable within one year | 40/41 | €7,823 | €3,924 | -€3,899 | -49.8% |
| Trade receivables | 40 | €7,302 | €3,924 | -€3,377 | -46.3% |
| Other amounts receivable | 41 | €522 | €0 | -€522 | -100% |
| Cash at bank and in hand | 54/58 | €29,797 | €58,790 | +€28,993 | +97.3% |
| Deferred charges and accrued income | 490/1 | €1,129 | €1,147 | +€18 | +1.6% |
| Total equity and liabilities | 10/49 | €143,296 | €157,831 | +€14,535 | +10.1% |
| Equity | 10/15 | €9,462 | €21,780 | +€12,318 | +130% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €4,462 | €16,780 | +€12,318 | +276% |
| Distributable reserves | 133 | €4,462 | €16,780 | +€12,318 | +276% |
| Amounts payable | 17/49 | €133,835 | €136,051 | +€2,216 | +1.7% |
| Amounts payable after more than one year | 17 | €79,265 | €51,333 | -€27,932 | -35.2% |
| Financial debts | 170/4 | €59,247 | €44,447 | -€14,800 | -25.0% |
| Other amounts payable | 178/9 | €20,019 | €6,887 | -€13,132 | -65.6% |
| Amounts payable within one year | 42/48 | €54,569 | €84,579 | +€30,010 | +55.0% |
| Current portion of amounts payable after more than one year | 42 | €5,532 | €14,405 | +€8,873 | +160% |
| Trade debts | 44 | €44,603 | €35,829 | -€8,773 | -19.7% |
| Suppliers | 440/4 | €44,603 | €35,829 | -€8,773 | -19.7% |
| Advances received on contracts in progress | 46 | €1,615 | €2,460 | +€845 | +52.3% |
| Taxes, remuneration and social security | 45 | €2,819 | €31,885 | +€29,066 | +1,031% |
| Taxes | 450/3 | €851 | €22,822 | +€21,972 | +2,583% |
| Remuneration and social security | 454/9 | €1,969 | €9,063 | +€7,094 | +360% |
| Accrued charges and deferred income | 492/3 | - | €138 | +€138 | |
| Remuneration, social security and pensions | 62 | €10,550 | €51,603 | +€41,053 | +389% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,103 | €17,556 | +€13,453 | +328% |
| Other operating charges | 640/8 | €836 | €1,528 | +€692 | +82.8% |
| Gross operating margin | 9900 | €22,993 | €93,917 | +€70,924 | +308% |
| Operating profit (loss) | 9901 | €7,504 | €23,230 | +€15,726 | +210% |
| Financial income | 75/76B | €9 | €117 | +€108 | +1,196% |
| Recurring financial income | 75 | €9 | €117 | +€108 | +1,196% |
| Financial charges | 65/66B | €2,920 | €6,636 | +€3,716 | +127% |
| Recurring financial charges | 65 | €2,920 | €6,636 | +€3,716 | +127% |
| Profit (loss) for the period before taxes | 9903 | €4,593 | €16,710 | +€12,118 | +264% |
| Income taxes | 67/77 | €131 | €4,392 | +€4,261 | +3,251% |
| Profit (loss) for the period | 9904 | €4,462 | €12,318 | +€7,857 | +176% |
| Profit (loss) for the period to be appropriated | 9905 | €4,462 | €12,318 | +€7,857 | +176% |
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 18 October 2026 via checked.be.