HERMANN: 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.
HERMANN
Largest movements
- Stocks and contracts +€3,439
up €3,439 (+10.0%), from €34,376 to €37,815
- Deferred charges and accrued income -€797
down €797 (-83.5%), from €955 to €158
- Profit (loss) carried forward +€1,320
up €1,320 (+25.3%), from €5,219 to €6,539
- Tax, wage and social debts +€684
up €684 (+107.7%), from €635 to €1,319
of which Taxes: +€515
- Gross operating margin +€1,054
up €1,054 (+74.5%), from €1,414 to €2,468
- Financial income +€230
up €230 (+22.3%), from €1,034 to €1,264
- Depreciation +€86
up €86 (+37.5%), from €230 to €317
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 | €44,861 | €47,283 | +€2,421 | +5.4% |
| Fixed assets | 21/28 | €672 | €355 | -€317 | -47.2% |
| Tangible fixed assets | 22/27 | €672 | €355 | -€317 | -47.2% |
| Furniture and vehicles | 24 | €672 | €355 | -€317 | -47.2% |
| Current assets | 29/58 | €44,190 | €46,928 | +€2,738 | +6.2% |
| Stocks and contracts in progress | 3 | €34,376 | €37,815 | +€3,439 | +10.0% |
| Stocks | 30/36 | €34,376 | €37,815 | +€3,439 | +10.0% |
| Amounts receivable within one year | 40/41 | €294 | €234 | -€60 | -20.4% |
| Trade receivables | 40 | €294 | €234 | -€60 | -20.4% |
| Cash at bank and in hand | 54/58 | €8,566 | €8,722 | +€156 | +1.8% |
| Deferred charges and accrued income | 490/1 | €955 | €158 | -€797 | -83.5% |
| Total equity and liabilities | 10/49 | €44,861 | €47,283 | +€2,421 | +5.4% |
| Equity | 10/15 | €18,861 | €20,181 | +€1,320 | +7.0% |
| Contributions | 10/11 | €13,642 | €13,642 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,219 | €6,539 | +€1,320 | +25.3% |
| Amounts payable | 17/49 | €26,000 | €27,102 | +€1,101 | +4.2% |
| Amounts payable within one year | 42/48 | €25,887 | €27,035 | +€1,148 | +4.4% |
| Trade debts | 44 | €527 | €888 | +€361 | +68.6% |
| Suppliers | 440/4 | €527 | €888 | +€361 | +68.6% |
| Taxes, remuneration and social security | 45 | €635 | €1,319 | +€684 | +107.7% |
| Taxes | 450/3 | €635 | €1,150 | +€515 | +81.1% |
| Remuneration and social security | 454/9 | - | €169 | +€169 | |
| Other amounts payable | 47/48 | €24,725 | €24,827 | +€103 | +0.4% |
| Accrued charges and deferred income | 492/3 | €114 | €67 | -€47 | -41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €230 | €317 | +€86 | +37.5% |
| Other operating charges | 640/8 | €315 | €315 | = | 0.0% |
| Gross operating margin | 9900 | €1,414 | €2,468 | +€1,054 | +74.5% |
| Operating profit (loss) | 9901 | €869 | €1,836 | +€968 | +111.4% |
| Financial income | 75/76B | €1,034 | €1,264 | +€230 | +22.3% |
| Recurring financial income | 75 | €1,034 | €1,264 | +€230 | +22.3% |
| Financial charges | 65/66B | €60 | €62 | +€2 | +2.9% |
| Recurring financial charges | 65 | €60 | €62 | +€2 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €1,842 | €3,038 | +€1,196 | +64.9% |
| Profit (loss) for the period | 9904 | €1,842 | €3,038 | +€1,196 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,842 | €3,038 | +€1,196 | +64.9% |
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 30 September 2026 via checked.be.