HERMAN NEVENS: 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 NEVENS
Largest movements
- Current investments +€50,000
new in 2026: €50,000
- Tangible fixed assets -€32,178
down €32,178 (-35.4%), from €90,919 to €58,741
of which Furniture and vehicles: -€19,132
- Receivables within one year -€9,235
no longer reported in 2026 (was €9,235)
of which Other amounts receivable: -€7,735
- Reserves +€19,143
up €19,143 (+14.2%), from €134,491 to €153,634
of which Distributable reserves: +€19,143
- Trade debts -€5,933
down €5,933 (-80.6%), from €7,361 to €1,428
- Current portion of long-term debt -€3,221
no longer reported in 2026 (was €3,221)
- Depreciation -€10,243
down €10,243 (-22.5%), from €45,583 to €35,340
- Gross operating margin -€3,978
down €3,978 (-5.5%), from €71,764 to €67,786
- Taxes +€2,172
up €2,172 (+25.7%), from €8,439 to €10,611
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,397 | €218,762 | +€8,365 | +4.0% |
| Fixed assets | 21/28 | €90,919 | €58,741 | -€32,178 | -35.4% |
| Tangible fixed assets | 22/27 | €90,919 | €58,741 | -€32,178 | -35.4% |
| Land and buildings | 22 | €13,669 | - | -€13,669 | |
| Plant, machinery and equipment | 23 | €6,857 | €5,134 | -€1,724 | -25.1% |
| Furniture and vehicles | 24 | €65,917 | €46,785 | -€19,132 | -29.0% |
| Other tangible fixed assets | 26 | €4,476 | €6,823 | +€2,347 | +52.4% |
| Current assets | 29/58 | €119,478 | €160,021 | +€40,543 | +33.9% |
| Amounts receivable within one year | 40/41 | €9,235 | - | -€9,235 | |
| Trade receivables | 40 | €1,500 | - | -€1,500 | |
| Other amounts receivable | 41 | €7,735 | - | -€7,735 | |
| Current investments | 50/53 | - | €50,000 | +€50,000 | |
| Cash at bank and in hand | 54/58 | €107,259 | €107,504 | +€244 | +0.2% |
| Deferred charges and accrued income | 490/1 | €2,984 | €2,517 | -€467 | -15.6% |
| Total equity and liabilities | 10/49 | €210,397 | €218,762 | +€8,365 | +4.0% |
| Equity | 10/15 | €188,148 | €205,625 | +€17,477 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €134,491 | €153,634 | +€19,143 | +14.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €132,631 | €151,774 | +€19,143 | +14.4% |
| Profit (loss) carried forward | 14 | €35,056 | €33,390 | -€1,666 | -4.8% |
| Amounts payable | 17/49 | €22,249 | €13,137 | -€9,112 | -41.0% |
| Amounts payable within one year | 42/48 | €22,249 | €13,137 | -€9,112 | -41.0% |
| Current portion of amounts payable after more than one year | 42 | €3,221 | - | -€3,221 | |
| Trade debts | 44 | €7,361 | €1,428 | -€5,933 | -80.6% |
| Suppliers | 440/4 | €7,361 | €1,428 | -€5,933 | -80.6% |
| Taxes, remuneration and social security | 45 | €4,145 | €3,864 | -€281 | -6.8% |
| Taxes | 450/3 | €4,145 | €3,864 | -€281 | -6.8% |
| Other amounts payable | 47/48 | €7,521 | €7,845 | +€324 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,583 | €35,340 | -€10,243 | -22.5% |
| Other operating charges | 640/8 | €2,898 | €3,060 | +€162 | +5.6% |
| Non-recurring operating charges | 66A | €156 | - | -€156 | |
| Gross operating margin | 9900 | €71,764 | €67,786 | -€3,978 | -5.5% |
| Operating profit (loss) | 9901 | €23,128 | €29,387 | +€6,259 | +27.1% |
| Financial income | 75/76B | €0 | €622 | +€622 | +6,222,800% |
| Recurring financial income | 75 | €0 | €622 | +€622 | +6,222,800% |
| Financial charges | 65/66B | €568 | €255 | -€314 | -55.2% |
| Recurring financial charges | 65 | €568 | €255 | -€314 | -55.2% |
| Profit (loss) for the period before taxes | 9903 | €22,560 | €29,754 | +€7,195 | +31.9% |
| Income taxes | 67/77 | €8,439 | €10,611 | +€2,172 | +25.7% |
| Profit (loss) for the period | 9904 | €14,120 | €19,143 | +€5,023 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,120 | €19,143 | +€5,023 | +35.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.