HERMAN TACK: 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 TACK
Largest movements
- Cash +€113,908
up €113,908 (+10.0%), from €1.1m to €1.3m
mainly Net result for the year (+€229,248) and Receivables within one year (+€28,859)
- Receivables within one year -€28,859
down €28,859 (-23.1%), from €125,036 to €96,178
- Reserves +€105,440
up €105,440 (+9.0%), from €1.2m to €1.3m
- Staff costs -€25,828
down €25,828 (-42.8%), from €60,392 to €34,563
- Gross operating margin -€24,731
down €24,731 (-6.6%), from €376,527 to €351,796
- Financial income +€5,652
up €5,652 (+25.0%), from €22,651 to €28,302
- Depreciation +€5,088
up €5,088 (+58.9%), from €8,641 to €13,728
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 | €1,425,812 | €1,502,461 | +€76,649 | +5.4% |
| Fixed assets | 21/28 | €51,907 | €40,024 | -€11,883 | -22.9% |
| Tangible fixed assets | 22/27 | €51,907 | €40,024 | -€11,883 | -22.9% |
| Plant, machinery and equipment | 23 | €633 | €53 | -€580 | -91.6% |
| Furniture and vehicles | 24 | €51,274 | €39,971 | -€11,303 | -22.0% |
| Current assets | 29/58 | €1,373,905 | €1,462,437 | +€88,532 | +6.4% |
| Stocks and contracts in progress | 3 | €8,870 | €9,710 | +€840 | +9.5% |
| Stocks | 30/36 | €8,870 | €9,710 | +€840 | +9.5% |
| Amounts receivable within one year | 40/41 | €125,036 | €96,178 | -€28,859 | -23.1% |
| Trade receivables | 40 | €125,036 | €96,178 | -€28,859 | -23.1% |
| Current investments | 50/53 | €96,387 | €98,918 | +€2,531 | +2.6% |
| Cash at bank and in hand | 54/58 | €1,141,963 | €1,255,870 | +€113,908 | +10.0% |
| Deferred charges and accrued income | 490/1 | €1,649 | €1,762 | +€112 | +6.8% |
| Total equity and liabilities | 10/49 | €1,425,812 | €1,502,461 | +€76,649 | +5.4% |
| Equity | 10/15 | €1,197,547 | €1,302,987 | +€105,440 | +8.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €1,177,087 | €1,282,527 | +€105,440 | +9.0% |
| Distributable reserves | 133 | €1,177,087 | €1,282,527 | +€105,440 | +9.0% |
| Amounts payable | 17/49 | €228,264 | €199,474 | -€28,791 | -12.6% |
| Amounts payable within one year | 42/48 | €228,264 | €199,474 | -€28,791 | -12.6% |
| Trade debts | 44 | €24,378 | €21,169 | -€3,209 | -13.2% |
| Suppliers | 440/4 | €24,378 | €21,169 | -€3,209 | -13.2% |
| Taxes, remuneration and social security | 45 | €65,772 | €52,576 | -€13,196 | -20.1% |
| Taxes | 450/3 | €60,642 | €47,726 | -€12,916 | -21.3% |
| Remuneration and social security | 454/9 | €5,130 | €4,850 | -€280 | -5.5% |
| Other amounts payable | 47/48 | €138,114 | €125,728 | -€12,385 | -9.0% |
| Remuneration, social security and pensions | 62 | €60,392 | €34,563 | -€25,828 | -42.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,641 | €13,728 | +€5,088 | +58.9% |
| Other operating charges | 640/8 | €7,178 | €8,979 | +€1,801 | +25.1% |
| Gross operating margin | 9900 | €376,527 | €351,796 | -€24,731 | -6.6% |
| Operating profit (loss) | 9901 | €300,317 | €294,525 | -€5,791 | -1.9% |
| Financial income | 75/76B | €22,651 | €28,302 | +€5,652 | +25.0% |
| Recurring financial income | 75 | €22,651 | €28,302 | +€5,652 | +25.0% |
| Financial charges | 65/66B | €251 | €294 | +€43 | +17.1% |
| Recurring financial charges | 65 | €251 | €294 | +€43 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €322,716 | €322,534 | -€183 | -0.1% |
| Income taxes | 67/77 | €94,512 | €93,285 | -€1,226 | -1.3% |
| Profit (loss) for the period | 9904 | €228,205 | €229,248 | +€1,044 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €228,205 | €229,248 | +€1,044 | +0.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.