HERMAN-DEPOURCQ: what changed
What changed
HERMAN-DEPOURCQ
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€178,281
2024 · €148,440+€29,841
Equity
€1.2m
2024 · €1.0m+€174,769
Cash
€356,665
2024 · €105,433+€251,232
Balance sheet total
€1.9m
2024 · €1.8m+€95,213
Largest movements
Assets
- Cash +€251,232
up €251,232 (+238%), from €105,433 to €356,665
mainly Net result for the year (+€178,281) and Current investments (+€100,000)
- Current investments -€100,000
down €100,000 (-16.7%), from €600,000 to €500,000
- Receivables within one year -€67,773
down €67,773 (-89.7%), from €75,595 to €7,823
Equity and liabilities
- Reserves +€176,615
up €176,615 (+19.0%), from €930,081 to €1.1m
- Debts after one year -€69,521
down €69,521 (-12.1%), from €576,290 to €506,770
Income statement
- Gross operating margin +€48,950
up €48,950 (+15.5%), from €316,658 to €365,608
- Depreciation +€19,820
up €19,820 (+31.4%), from €63,173 to €82,993
- Taxes +€6,859
up €6,859 (+9.5%), from €71,826 to €78,686
- Financial income +€6,089
up €6,089 (+100.0%), from €6,092 to €12,182
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€148,440
Gross operating margin
+€48,950
Depreciation
-€19,820
Other operating charges
-€24
Financial income
+€6,089
Financial charges
+€1,493
Taxes
-€6,859
Deferred taxes and other
+€11
Result 2025
€178,281
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€319,532
Investment
+€4,155
Financing
-€72,455
Cash 2024
€105,433
From operations (derived)
+€319,532
Net result for the year
+€178,281
Depreciation
+€82,993
Receivables within one year
+€67,773
Deferred charges and accrued income
+€1,099
Provisions
-€615
Trade debts
-€14,518
Tax, wage and social debts
+€18,656
Other debts
-€13,497
Accrued charges and deferred income
-€639
Investment (derived)
+€4,155
Investment in fixed assets (net)
-€95,845
Current investments
+€100,000
Financing
-€72,455
Debts after one year
-€69,521
Current portion of long-term debt
+€578
Contributions, distributions and other
-€3,512
Cash 2025
€356,665
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,791,131 | €1,886,344 | +€95,213 | +5.3% |
| Fixed assets | 21/28 | €999,953 | €1,012,805 | +€12,852 | +1.3% |
| Tangible fixed assets | 22/27 | €999,953 | €1,012,805 | +€12,852 | +1.3% |
| Land and buildings | 22 | €901,210 | €935,541 | +€34,331 | +3.8% |
| Plant, machinery and equipment | 23 | €1,493 | €1,286 | -€207 | -13.9% |
| Furniture and vehicles | 24 | €97,250 | €75,978 | -€21,272 | -21.9% |
| Current assets | 29/58 | €791,178 | €873,538 | +€82,360 | +10.4% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €75,595 | €7,823 | -€67,773 | -89.7% |
| Other amounts receivable | 41 | €75,595 | €7,823 | -€67,773 | -89.7% |
| Current investments | 50/53 | €600,000 | €500,000 | -€100,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €105,433 | €356,665 | +€251,232 | +238% |
| Deferred charges and accrued income | 490/1 | €10,150 | €9,051 | -€1,099 | -10.8% |
| Total equity and liabilities | 10/49 | €1,791,131 | €1,886,344 | +€95,213 | +5.3% |
| Equity | 10/15 | €1,007,788 | €1,182,557 | +€174,769 | +17.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €930,081 | €1,106,696 | +€176,615 | +19.0% |
| Distributable reserves | 133 | €930,081 | €1,106,696 | +€176,615 | +19.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €59,115 | €57,269 | -€1,846 | -3.1% |
| Provisions and deferred taxes | 16 | €19,705 | €19,090 | -€615 | -3.1% |
| Deferred taxes | 168 | €19,705 | €19,090 | -€615 | -3.1% |
| Amounts payable | 17/49 | €763,638 | €684,698 | -€78,941 | -10.3% |
| Amounts payable after more than one year | 17 | €576,290 | €506,770 | -€69,521 | -12.1% |
| Financial debts | 170/4 | €576,290 | €506,770 | -€69,521 | -12.1% |
| Amounts payable within one year | 42/48 | €179,473 | €170,692 | -€8,781 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €70,308 | €70,887 | +€578 | +0.8% |
| Trade debts | 44 | €17,467 | €2,949 | -€14,518 | -83.1% |
| Suppliers | 440/4 | €17,467 | €2,949 | -€14,518 | -83.1% |
| Taxes, remuneration and social security | 45 | €16,082 | €34,738 | +€18,656 | +116% |
| Taxes | 450/3 | €16,082 | €34,738 | +€18,656 | +116% |
| Other amounts payable | 47/48 | €75,615 | €62,118 | -€13,497 | -17.8% |
| Accrued charges and deferred income | 492/3 | €7,876 | €7,236 | -€639 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,173 | €82,993 | +€19,820 | +31.4% |
| Other operating charges | 640/8 | €14,433 | €14,456 | +€24 | +0.2% |
| Gross operating margin | 9900 | €316,658 | €365,608 | +€48,950 | +15.5% |
| Operating profit (loss) | 9901 | €239,052 | €268,158 | +€29,106 | +12.2% |
| Financial income | 75/76B | €6,092 | €12,182 | +€6,089 | +100.0% |
| Recurring financial income | 75 | €6,092 | €12,182 | +€6,089 | +100.0% |
| Financial charges | 65/66B | €25,482 | €23,989 | -€1,493 | -5.9% |
| Recurring financial charges | 65 | €25,482 | €23,989 | -€1,493 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €219,663 | €256,351 | +€36,689 | +16.7% |
| Transfer from deferred taxes | 780 | €604 | €615 | +€11 | +1.9% |
| Income taxes | 67/77 | €71,826 | €78,686 | +€6,859 | +9.5% |
| Profit (loss) for the period | 9904 | €148,440 | €178,281 | +€29,841 | +20.1% |
| Profit (loss) for the period to be appropriated | 9905 | €148,440 | €178,281 | +€29,841 | +20.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.