Herlou Groep: 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.
Herlou Groep
Largest movements
- Cash -€15,607
down €15,607 (-18.1%), from €86,435 to €70,828
mainly Contributions, distributions and other (-€42,495) and Investment in fixed assets (net) (-€17,625)
- Tangible fixed assets +€13,068
up €13,068 (+66.5%), from €19,653 to €32,720
of which Furniture and vehicles: +€14,318
- Receivables within one year +€10,847
up €10,847 (+114%), from €9,503 to €20,349
of which Trade receivables: +€11,450
- Other debts +€40,739
up €40,739 (+88.4%), from €46,097 to €86,835
- Reserves -€28,676
down €28,676 (-24.5%), from €116,863 to €88,187
- Tax, wage and social debts -€3,053
down €3,053 (-16.4%), from €18,646 to €15,593
- Gross operating margin -€33,050
down €33,050 (-55.9%), from €59,144 to €26,094
- Taxes -€8,944
down €8,944 (-58.7%), from €15,244 to €6,299
- Depreciation +€2,926
up €2,926 (+179%), from €1,632 to €4,558
- Financial income +€986
up €986 (+175%), from €564 to €1,550
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 | €194,451 | €203,360 | +€8,909 | +4.6% |
| Fixed assets | 21/28 | €19,653 | €32,720 | +€13,068 | +66.5% |
| Tangible fixed assets | 22/27 | €19,653 | €32,720 | +€13,068 | +66.5% |
| Land and buildings | 22 | €19,653 | €18,403 | -€1,250 | -6.4% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | - | €14,318 | +€14,318 | |
| Current assets | 29/58 | €174,798 | €170,640 | -€4,158 | -2.4% |
| Amounts receivable within one year | 40/41 | €9,503 | €20,349 | +€10,847 | +114% |
| Trade receivables | 40 | €8,899 | €20,349 | +€11,450 | +129% |
| Other amounts receivable | 41 | €603 | €0 | -€603 | -100% |
| Current investments | 50/53 | €77,789 | €78,089 | +€300 | +0.4% |
| Cash at bank and in hand | 54/58 | €86,435 | €70,828 | -€15,607 | -18.1% |
| Deferred charges and accrued income | 490/1 | €1,071 | €1,373 | +€302 | +28.2% |
| Total equity and liabilities | 10/49 | €194,451 | €203,360 | +€8,909 | +4.6% |
| Equity | 10/15 | €129,263 | €100,587 | -€28,676 | -22.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €116,863 | €88,187 | -€28,676 | -24.5% |
| Distributable reserves | 133 | €116,863 | €88,187 | -€28,676 | -24.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €65,188 | €102,773 | +€37,585 | +57.7% |
| Amounts payable within one year | 42/48 | €65,188 | €102,773 | +€37,585 | +57.7% |
| Trade debts | 44 | €445 | €344 | -€101 | -22.7% |
| Suppliers | 440/4 | €445 | €344 | -€101 | -22.7% |
| Taxes, remuneration and social security | 45 | €18,646 | €15,593 | -€3,053 | -16.4% |
| Taxes | 450/3 | €18,646 | €15,593 | -€3,053 | -16.4% |
| Other amounts payable | 47/48 | €46,097 | €86,835 | +€40,739 | +88.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,632 | €4,558 | +€2,926 | +179% |
| Other operating charges | 640/8 | €739 | €250 | -€490 | -66.2% |
| Gross operating margin | 9900 | €59,144 | €26,094 | -€33,050 | -55.9% |
| Operating profit (loss) | 9901 | €56,773 | €21,287 | -€35,487 | -62.5% |
| Financial income | 75/76B | €564 | €1,550 | +€986 | +175% |
| Recurring financial income | 75 | €564 | €1,550 | +€986 | +175% |
| Financial charges | 65/66B | €2,875 | €2,718 | -€157 | -5.5% |
| Recurring financial charges | 65 | €2,875 | €2,718 | -€157 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €54,462 | €20,118 | -€34,344 | -63.1% |
| Income taxes | 67/77 | €15,244 | €6,299 | -€8,944 | -58.7% |
| Profit (loss) for the period | 9904 | €39,219 | €13,819 | -€25,399 | -64.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,219 | €13,819 | -€25,399 | -64.8% |
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 20 October 2026 via checked.be.