HERMACON: 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.
HERMACON
Largest movements
- Cash +€69,607
up €69,607 (+680.6%), from €10,227 to €79,834
mainly Net result for the year (+€136,583) and Tax, wage and social debts (+€58,259)
- Stocks and contracts +€52,535
up €52,535 (+7.1%), from €742,863 to €795,399
- Receivables within one year -€16,406
down €16,406 (-2.5%), from €661,138 to €644,732
of which Trade receivables: -€67,146
- Reserves +€136,583
up €136,583 (+35.6%), from €384,145 to €520,728
of which Distributable reserves: +€136,583
- Debts after one year -€72,652
down €72,652 (-69.4%), from €104,752 to €32,100
- Tax, wage and social debts +€58,259
up €58,259 (+76.3%), from €76,368 to €134,626
of which Taxes: +€54,891
- Trade debts -€30,821
down €30,821 (-5.2%), from €591,719 to €560,897
- Gross operating margin +€86,640
up €86,640 (+26.6%), from €325,832 to €412,472
- Staff costs +€20,962
up €20,962 (+15.6%), from €134,795 to €155,757
- Taxes +€7,550
up €7,550 (+20.2%), from €37,450 to €45,000
- Other operating charges +€4,404
up €4,404 (+25.4%), from €17,358 to €21,762
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 | €1,540,120 | €1,627,141 | +€87,021 | +5.7% |
| Fixed assets | 21/28 | €109,329 | €93,910 | -€15,419 | -14.1% |
| Tangible fixed assets | 22/27 | €98,202 | €85,218 | -€12,984 | -13.2% |
| Plant, machinery and equipment | 23 | €78,432 | €62,430 | -€16,002 | -20.4% |
| Furniture and vehicles | 24 | €19,770 | €22,788 | +€3,018 | +15.3% |
| Financial fixed assets | 28 | €11,127 | €8,692 | -€2,435 | -21.9% |
| Current assets | 29/58 | €1,430,791 | €1,533,231 | +€102,440 | +7.2% |
| Stocks and contracts in progress | 3 | €742,863 | €795,399 | +€52,535 | +7.1% |
| Stocks | 30/36 | €742,863 | €795,399 | +€52,535 | +7.1% |
| Amounts receivable within one year | 40/41 | €661,138 | €644,732 | -€16,406 | -2.5% |
| Trade receivables | 40 | €593,091 | €525,945 | -€67,146 | -11.3% |
| Other amounts receivable | 41 | €68,047 | €118,787 | +€50,740 | +74.6% |
| Cash at bank and in hand | 54/58 | €10,227 | €79,834 | +€69,607 | +680.6% |
| Deferred charges and accrued income | 490/1 | €16,563 | €13,267 | -€3,296 | -19.9% |
| Total equity and liabilities | 10/49 | €1,540,120 | €1,627,141 | +€87,021 | +5.7% |
| Equity | 10/15 | €483,345 | €619,928 | +€136,583 | +28.3% |
| Contributions | 10/11 | €99,200 | €99,200 | = | 0.0% |
| Reserves | 13 | €384,145 | €520,728 | +€136,583 | +35.6% |
| Non-distributable reserves | 130/1 | €9,920 | €9,920 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,920 | €9,920 | = | 0.0% |
| Distributable reserves | 133 | €374,225 | €510,808 | +€136,583 | +36.5% |
| Amounts payable | 17/49 | €1,056,774 | €1,007,213 | -€49,561 | -4.7% |
| Amounts payable after more than one year | 17 | €104,752 | €32,100 | -€72,652 | -69.4% |
| Financial debts | 170/4 | €104,752 | €32,100 | -€72,652 | -69.4% |
| Amounts payable within one year | 42/48 | €948,422 | €969,972 | +€21,550 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €40,182 | €24,448 | -€15,734 | -39.2% |
| Financial debts | 43 | €240,153 | €250,000 | +€9,847 | +4.1% |
| Credit institutions | 430/8 | €240,153 | €250,000 | +€9,847 | +4.1% |
| Trade debts | 44 | €591,719 | €560,897 | -€30,821 | -5.2% |
| Suppliers | 440/4 | €591,719 | €560,897 | -€30,821 | -5.2% |
| Taxes, remuneration and social security | 45 | €76,368 | €134,626 | +€58,259 | +76.3% |
| Taxes | 450/3 | €60,207 | €115,097 | +€54,891 | +91.2% |
| Remuneration and social security | 454/9 | €16,161 | €19,529 | +€3,368 | +20.8% |
| Accrued charges and deferred income | 492/3 | €3,600 | €5,141 | +€1,541 | +42.8% |
| Remuneration, social security and pensions | 62 | €134,795 | €155,757 | +€20,962 | +15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,002 | €23,526 | +€2,524 | +12.0% |
| Other operating charges | 640/8 | €17,358 | €21,762 | +€4,404 | +25.4% |
| Gross operating margin | 9900 | €325,832 | €412,472 | +€86,640 | +26.6% |
| Operating profit (loss) | 9901 | €152,677 | €211,427 | +€58,750 | +38.5% |
| Financial income | 75/76B | €2,742 | €4,204 | +€1,462 | +53.3% |
| Recurring financial income | 75 | €2,742 | €4,204 | +€1,462 | +53.3% |
| Financial charges | 65/66B | €32,824 | €34,048 | +€1,224 | +3.7% |
| Recurring financial charges | 65 | €32,824 | €34,048 | +€1,224 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €122,595 | €181,583 | +€58,988 | +48.1% |
| Income taxes | 67/77 | €37,450 | €45,000 | +€7,550 | +20.2% |
| Profit (loss) for the period | 9904 | €85,145 | €136,583 | +€51,438 | +60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €85,145 | €136,583 | +€51,438 | +60.4% |
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 5 October 2026 via checked.be.