Herman Construction Management: 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.
Herman Construction Management
Largest movements
- Cash -€29,541
down €29,541 (-43.5%), from €67,978 to €38,437
mainly Contributions, distributions and other (-€32,400) and Receivables within one year (-€21,334)
- Receivables within one year +€21,334
up €21,334 (+85.4%), from €24,984 to €46,318
of which Trade receivables: +€26,802
- Deferred charges and accrued income +€13,789
new in 2025: €13,789
- Tangible fixed assets -€12,704
down €12,704 (-25.5%), from €49,748 to €37,044
of which Leasing and similar rights: -€11,878
- Debts after one year -€15,234
down €15,234 (-51.1%), from €29,833 to €14,599
- Reserves +€6,568
up €6,568 (+5.2%), from €125,213 to €131,781
- Tax, wage and social debts +€2,167
up €2,167 (+11.0%), from €19,782 to €21,949
- Other debts -€2,106
down €2,106 (-15.8%), from €13,348 to €11,242
- Gross operating margin +€29,773
up €29,773 (+45.7%), from €65,219 to €94,992
- Other operating charges +€24,678
up €24,678 (+4,883%), from €505 to €25,183
- Taxes -€1,102
down €1,102 (-6.6%), from €16,611 to €15,510
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 | €209,569 | €202,448 | -€7,122 | -3.4% |
| Fixed assets | 21/28 | €116,608 | €103,903 | -€12,704 | -10.9% |
| Tangible fixed assets | 22/27 | €49,748 | €37,044 | -€12,704 | -25.5% |
| Furniture and vehicles | 24 | €2,886 | €2,060 | -€826 | -28.6% |
| Leasing and similar rights | 25 | €46,862 | €34,984 | -€11,878 | -25.3% |
| Financial fixed assets | 28 | €66,860 | €66,860 | = | 0.0% |
| Current assets | 29/58 | €92,962 | €98,545 | +€5,583 | +6.0% |
| Amounts receivable within one year | 40/41 | €24,984 | €46,318 | +€21,334 | +85.4% |
| Trade receivables | 40 | €18,132 | €44,933 | +€26,802 | +148% |
| Other amounts receivable | 41 | €6,852 | €1,385 | -€5,467 | -79.8% |
| Cash at bank and in hand | 54/58 | €67,978 | €38,437 | -€29,541 | -43.5% |
| Deferred charges and accrued income | 490/1 | - | €13,789 | +€13,789 | |
| Total equity and liabilities | 10/49 | €209,569 | €202,448 | -€7,122 | -3.4% |
| Equity | 10/15 | €131,413 | €137,981 | +€6,568 | +5.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €125,213 | €131,781 | +€6,568 | +5.2% |
| Distributable reserves | 133 | €125,213 | €131,781 | +€6,568 | +5.2% |
| Amounts payable | 17/49 | €78,156 | €64,467 | -€13,690 | -17.5% |
| Amounts payable after more than one year | 17 | €29,833 | €14,599 | -€15,234 | -51.1% |
| Financial debts | 170/4 | €29,833 | €14,599 | -€15,234 | -51.1% |
| Amounts payable within one year | 42/48 | €48,323 | €49,868 | +€1,545 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €13,358 | €13,992 | +€634 | +4.7% |
| Trade debts | 44 | €1,836 | €2,685 | +€850 | +46.3% |
| Suppliers | 440/4 | €1,836 | €2,685 | +€850 | +46.3% |
| Taxes, remuneration and social security | 45 | €19,782 | €21,949 | +€2,167 | +11.0% |
| Taxes | 450/3 | €19,782 | €21,949 | +€2,167 | +11.0% |
| Other amounts payable | 47/48 | €13,348 | €11,242 | -€2,106 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,704 | €12,704 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €25,183 | +€24,678 | +4,883% |
| Gross operating margin | 9900 | €65,219 | €94,992 | +€29,773 | +45.7% |
| Operating profit (loss) | 9901 | €52,009 | €57,104 | +€5,095 | +9.8% |
| Financial income | 75/76B | €48 | - | -€48 | |
| Recurring financial income | 75 | €48 | - | -€48 | |
| Financial charges | 65/66B | €2,782 | €2,626 | -€156 | -5.6% |
| Recurring financial charges | 65 | €2,782 | €2,626 | -€156 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €49,276 | €54,478 | +€5,202 | +10.6% |
| Income taxes | 67/77 | €16,611 | €15,510 | -€1,102 | -6.6% |
| Profit (loss) for the period | 9904 | €32,664 | €38,968 | +€6,304 | +19.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,664 | €38,968 | +€6,304 | +19.3% |
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 28 October 2026 via checked.be.