HERMANNE: 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.
HERMANNE
Largest movements
- Stocks and contracts -€42,306
down €42,306 (-7.1%), from €594,225 to €551,919
- Cash +€12,371
up €12,371 (+116.8%), from €10,593 to €22,964
mainly Stocks and contracts (+€42,306) and Depreciation (+€11,262)
- Receivables within one year -€10,374
down €10,374 (-21.0%), from €49,326 to €38,952
of which Trade receivables: -€8,860
- Advances received -€30,560
down €30,560 (-66.6%), from €45,910 to €15,350
- Trade debts -€15,414
down €15,414 (-9.4%), from €164,346 to €148,932
- Staff costs -€5,651
down €5,651 (-3.8%), from €147,030 to €141,379
- Gross operating margin -€5,265
down €5,265 (-3.1%), from €167,894 to €162,628
- Depreciation -€2,583
down €2,583 (-18.7%), from €13,845 to €11,262
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 | €708,406 | €660,820 | -€47,586 | -6.7% |
| Fixed assets | 21/28 | €49,047 | €37,784 | -€11,262 | -23.0% |
| Intangible fixed assets | 21 | €25,579 | €19,571 | -€6,008 | -23.5% |
| Tangible fixed assets | 22/27 | €23,467 | €18,213 | -€5,254 | -22.4% |
| Plant, machinery and equipment | 23 | €1,537 | €280 | -€1,257 | -81.8% |
| Furniture and vehicles | 24 | €1,193 | €353 | -€841 | -70.4% |
| Other tangible fixed assets | 26 | €20,737 | €17,580 | -€3,157 | -15.2% |
| Current assets | 29/58 | €659,360 | €623,035 | -€36,324 | -5.5% |
| Stocks and contracts in progress | 3 | €594,225 | €551,919 | -€42,306 | -7.1% |
| Stocks | 30/36 | €594,225 | €551,919 | -€42,306 | -7.1% |
| Amounts receivable within one year | 40/41 | €49,326 | €38,952 | -€10,374 | -21.0% |
| Trade receivables | 40 | €43,481 | €34,621 | -€8,860 | -20.4% |
| Other amounts receivable | 41 | €5,845 | €4,332 | -€1,514 | -25.9% |
| Current investments | 50/53 | €1,006 | €1,011 | +€5 | +0.5% |
| Cash at bank and in hand | 54/58 | €10,593 | €22,964 | +€12,371 | +116.8% |
| Deferred charges and accrued income | 490/1 | €4,210 | €8,189 | +€3,979 | +94.5% |
| Total equity and liabilities | 10/49 | €708,406 | €660,820 | -€47,586 | -6.7% |
| Equity | 10/15 | €469,450 | €474,446 | +€4,997 | +1.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €401,250 | €406,246 | +€4,997 | +1.2% |
| Amounts payable | 17/49 | €238,956 | €186,373 | -€52,583 | -22.0% |
| Amounts payable within one year | 42/48 | €238,569 | €185,974 | -€52,595 | -22.0% |
| Trade debts | 44 | €164,346 | €148,932 | -€15,414 | -9.4% |
| Suppliers | 440/4 | €164,346 | €148,932 | -€15,414 | -9.4% |
| Advances received on contracts in progress | 46 | €45,910 | €15,350 | -€30,560 | -66.6% |
| Taxes, remuneration and social security | 45 | €28,313 | €21,692 | -€6,621 | -23.4% |
| Taxes | 450/3 | €7,989 | €6,565 | -€1,424 | -17.8% |
| Remuneration and social security | 454/9 | €20,324 | €15,127 | -€5,197 | -25.6% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Remuneration, social security and pensions | 62 | €147,030 | €141,379 | -€5,651 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,845 | €11,262 | -€2,583 | -18.7% |
| Other operating charges | 640/8 | €1,537 | €1,495 | -€41 | -2.7% |
| Gross operating margin | 9900 | €167,894 | €162,628 | -€5,265 | -3.1% |
| Operating profit (loss) | 9901 | €5,482 | €8,492 | +€3,010 | +54.9% |
| Financial income | 75/76B | €78 | €123 | +€45 | +57.2% |
| Recurring financial income | 75 | €78 | €123 | +€45 | +57.2% |
| Financial charges | 65/66B | €2,179 | €1,947 | -€232 | -10.6% |
| Recurring financial charges | 65 | €2,179 | €1,947 | -€232 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €3,381 | €6,667 | +€3,287 | +97.2% |
| Income taxes | 67/77 | €157 | €1,671 | +€1,513 | +962.7% |
| Profit (loss) for the period | 9904 | €3,223 | €4,997 | +€1,773 | +55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,223 | €4,997 | +€1,773 | +55.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.