HERMANO: 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.
HERMANO
Largest movements
- Cash +€242,515
up €242,515 (+39.4%), from €615,420 to €857,936
mainly Current investments (+€200,000) and Net result for the year (+€127,993)
- Current investments -€200,000
down €200,000 (-38.1%), from €525,540 to €325,540
- Reserves +€24,038
up €24,038 (+2.3%), from €1.0m to €1.1m
- Gross operating margin +€23,666
up €23,666 (+15.2%), from €155,312 to €178,978
- Taxes +€15,585
up €15,585 (+33.0%), from €47,162 to €62,747
- Financial income +€7,831
up €7,831 (+73.0%), from €10,721 to €18,551
- Financial charges +€7,134
up €7,134, from -€7,104 to €30
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 | €1,178,234 | €1,214,611 | +€36,376 | +3.1% |
| Fixed assets | 21/28 | €8,224 | €2,086 | -€6,139 | -74.6% |
| Tangible fixed assets | 22/27 | €8,224 | €2,086 | -€6,139 | -74.6% |
| Furniture and vehicles | 24 | €8,224 | €2,086 | -€6,139 | -74.6% |
| Current assets | 29/58 | €1,170,010 | €1,212,525 | +€42,515 | +3.6% |
| Amounts receivable within one year | 40/41 | €29,050 | €29,050 | = | 0.0% |
| Trade receivables | 40 | €29,040 | €29,040 | = | 0.0% |
| Other amounts receivable | 41 | €10 | €10 | = | 0.0% |
| Current investments | 50/53 | €525,540 | €325,540 | -€200,000 | -38.1% |
| Cash at bank and in hand | 54/58 | €615,420 | €857,936 | +€242,515 | +39.4% |
| Total equity and liabilities | 10/49 | €1,178,234 | €1,214,611 | +€36,376 | +3.1% |
| Equity | 10/15 | €1,056,974 | €1,081,012 | +€24,038 | +2.3% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,037,974 | €1,062,012 | +€24,038 | +2.3% |
| Distributable reserves | 133 | €1,037,974 | €1,062,012 | +€24,038 | +2.3% |
| Amounts payable | 17/49 | €121,260 | €133,599 | +€12,339 | +10.2% |
| Amounts payable within one year | 42/48 | €121,260 | €133,599 | +€12,339 | +10.2% |
| Trade debts | 44 | €2,652 | €3,159 | +€507 | +19.1% |
| Suppliers | 440/4 | €2,652 | €3,159 | +€507 | +19.1% |
| Taxes, remuneration and social security | 45 | €11,855 | €22,284 | +€10,429 | +88.0% |
| Taxes | 450/3 | €10,355 | €22,284 | +€11,929 | +115.2% |
| Remuneration and social security | 454/9 | €1,500 | - | -€1,500 | |
| Other amounts payable | 47/48 | €106,754 | €108,156 | +€1,402 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,139 | €6,139 | = | 0.0% |
| Other operating charges | 640/8 | €1,494 | €621 | -€873 | -58.5% |
| Gross operating margin | 9900 | €155,312 | €178,978 | +€23,666 | +15.2% |
| Operating profit (loss) | 9901 | €147,679 | €172,218 | +€24,539 | +16.6% |
| Financial income | 75/76B | €10,721 | €18,551 | +€7,831 | +73.0% |
| Recurring financial income | 75 | €10,721 | €18,551 | +€7,831 | +73.0% |
| Financial charges | 65/66B | -€7,104 | €30 | +€7,134 | |
| Recurring financial charges | 65 | -€7,104 | €30 | +€7,134 | |
| Profit (loss) for the period before taxes | 9903 | €165,504 | €190,740 | +€25,236 | +15.2% |
| Income taxes | 67/77 | €47,162 | €62,747 | +€15,585 | +33.0% |
| Profit (loss) for the period | 9904 | €118,342 | €127,993 | +€9,651 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €118,342 | €127,993 | +€9,651 | +8.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.