HERMANS: 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.
What changed
HERMANS
NACE 47.811, Retail sale of cars and light vans (up to 3.5 tonnes)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€4,674
2024 · €3,553-€8,227
Equity
€1.3m
2024 · €1.3m-€4,674
Cash
€3,297
2024 · €1,669+€1,629
Balance sheet total
€15.8m
2024 · €11.0m+€4.8m
Largest movements
Assets
- Stocks and contracts +€3.4m
up €3.4m (+39.6%), from €8.5m to €11.8m
- Receivables within one year +€1.4m
up €1.4m (+62.2%), from €2.2m to €3.5m
of which Trade receivables: +€921,303
Equity and liabilities
- Short-term financial debts +€5.0m
up €5.0m (+70.1%), from €7.1m to €12.2m
of which Other loans: +€2.8m
- Trade debts +€305,104
up €305,104 (+22.6%), from €1.4m to €1.7m
- Other debts -€226,752
down €226,752 (-100%), from €226,752 to €0
Income statement
- Turnover -€2.4m
down €2.4m (-5.1%), from €47.0m to €44.6m
- Goods and materials -€2.4m
down €2.4m (-5.8%), from €41.2m to €38.8m
of which Change in stocks: decrease (increase): -€4.9m
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.
Result 2024
€3,553
Turnover
-€2.4m
Other operating income
+€93,085
Goods and materials
+€2.4m
Services and other goods
-€223,192
Staff costs
-€135,577
Depreciation
-€28,901
Write-downs
+€60,229
Other operating charges
+€78,668
Other operating items
+€13,901
Financial income
+€4,260
Financial charges
+€160,382
Taxes
-€9,696
Result 2025
-€4,674
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€4.8m
Investment
-€160,044
Financing
+€5.0m
Cash 2024
€1,669
From operations (derived)
-€4.8m
Net result for the year
-€4,674
Depreciation
+€116,043
Stocks and contracts
-€3.4m
Receivables within one year
-€1.4m
Deferred charges and accrued income
-€72,689
Trade debts
+€305,104
Tax, wage and social debts
+€17,949
Advances received
-€143,132
Other debts
-€226,752
Accrued charges and deferred income
-€124,361
Investment (derived)
-€160,044
Investment in fixed assets (net)
-€160,044
Financing
+€5.0m
Current portion of long-term debt
-€508
Short-term financial debts
+€5.0m
Cash 2025
€3,297
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,958,801 | €15,792,058 | +€4.8m | +44.1% |
| Fixed assets | 21/28 | €244,129 | €288,130 | +€44,001 | +18.0% |
| Tangible fixed assets | 22/27 | €242,309 | €286,280 | +€43,971 | +18.1% |
| Plant, machinery and equipment | 23 | €104,713 | €87,315 | -€17,398 | -16.6% |
| Furniture and vehicles | 24 | €18,044 | €65,883 | +€47,838 | +265% |
| Other tangible fixed assets | 26 | €119,552 | €133,082 | +€13,531 | +11.3% |
| Financial fixed assets | 28 | €1,820 | €1,850 | +€30 | +1.7% |
| Other financial fixed assets | 284/8 | €1,820 | €1,850 | +€30 | +1.7% |
| Amounts receivable and cash guarantees | 285/8 | €1,820 | €1,850 | +€30 | +1.7% |
| Current assets | 29/58 | €10,714,672 | €15,503,927 | +€4.8m | +44.7% |
| Stocks and contracts in progress | 3 | €8,479,305 | €11,836,320 | +€3.4m | +39.6% |
| Stocks | 30/36 | €8,479,305 | €11,836,320 | +€3.4m | +39.6% |
| Goods purchased for resale | 34 | €8,479,305 | €11,836,320 | +€3.4m | +39.6% |
| Amounts receivable within one year | 40/41 | €2,182,779 | €3,540,701 | +€1.4m | +62.2% |
| Trade receivables | 40 | €2,161,247 | €3,082,550 | +€921,303 | +42.6% |
| Other amounts receivable | 41 | €21,533 | €458,152 | +€436,619 | +2,028% |
| Cash at bank and in hand | 54/58 | €1,669 | €3,297 | +€1,629 | +97.6% |
| Deferred charges and accrued income | 490/1 | €50,919 | €123,608 | +€72,689 | +143% |
| Total equity and liabilities | 10/49 | €10,958,801 | €15,792,058 | +€4.8m | +44.1% |
| Equity | 10/15 | €1,281,132 | €1,276,458 | -€4,674 | -0.4% |
| 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 | €1,219,132 | €1,214,458 | -€4,674 | -0.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,094 | €5,094 | = | 0.0% |
| Distributable reserves | 133 | €1,207,838 | €1,203,164 | -€4,674 | -0.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €9,677,669 | €14,515,600 | +€4.8m | +50.0% |
| Amounts payable within one year | 42/48 | €9,344,681 | €14,306,973 | +€5.0m | +53.1% |
| Current portion of amounts payable after more than one year | 42 | €508 | €0 | -€508 | -100% |
| Financial debts | 43 | €7,142,318 | €12,151,948 | +€5.0m | +70.1% |
| Credit institutions | 430/8 | €6,967,132 | €9,218,984 | +€2.3m | +32.3% |
| Other loans | 439 | €175,187 | €2,932,965 | +€2.8m | +1,574% |
| Trade debts | 44 | €1,351,867 | €1,656,971 | +€305,104 | +22.6% |
| Suppliers | 440/4 | €1,351,867 | €1,656,971 | +€305,104 | +22.6% |
| Advances received on contracts in progress | 46 | €342,465 | €199,333 | -€143,132 | -41.8% |
| Taxes, remuneration and social security | 45 | €280,771 | €298,720 | +€17,949 | +6.4% |
| Taxes | 450/3 | €76,000 | €67,786 | -€8,214 | -10.8% |
| Remuneration and social security | 454/9 | €204,771 | €230,935 | +€26,163 | +12.8% |
| Other amounts payable | 47/48 | €226,752 | €0 | -€226,752 | -100% |
| Accrued charges and deferred income | 492/3 | €332,988 | €208,627 | -€124,361 | -37.3% |
| Operating income | 70/76A | €47,586,275 | €45,305,034 | -€2.3m | -4.8% |
| Turnover | 70 | €47,010,894 | €44,621,753 | -€2.4m | -5.1% |
| Other operating income | 74 | €505,912 | €598,997 | +€93,085 | +18.4% |
| Non-recurring operating income | 76A | €69,469 | €84,284 | +€14,816 | +21.3% |
| Operating charges | 60/66A | €46,998,212 | €44,880,146 | -€2.1m | -4.5% |
| Goods for resale, raw materials and consumables | 60 | €41,156,493 | €38,788,739 | -€2.4m | -5.8% |
| Purchases | 600/8 | €39,642,382 | €42,124,832 | +€2.5m | +6.3% |
| Change in stocks: decrease (increase) | 609 | €1,514,111 | -€3,336,093 | -€4.9m | |
| Services and other goods | 61 | €3,407,219 | €3,630,411 | +€223,192 | +6.6% |
| Remuneration, social security and pensions | 62 | €2,180,828 | €2,316,405 | +€135,577 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,142 | €116,043 | +€28,901 | +33.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €45,531 | -€14,698 | -€60,229 | |
| Other operating charges | 640/8 | €120,999 | €42,332 | -€78,668 | -65.0% |
| Non-recurring operating charges | 66A | - | €915 | +€915 | |
| Operating profit (loss) | 9901 | €588,062 | €424,888 | -€163,174 | -27.7% |
| Financial income | 75/76B | €1,377 | €5,638 | +€4,260 | +309% |
| Recurring financial income | 75 | €1,377 | €5,638 | +€4,260 | +309% |
| Other financial income | 752/9 | €1,377 | €5,638 | +€4,260 | +309% |
| Financial charges | 65/66B | €542,916 | €382,533 | -€160,382 | -29.5% |
| Recurring financial charges | 65 | €542,916 | €382,533 | -€160,382 | -29.5% |
| Debt charges | 650 | €421,466 | €291,534 | -€129,931 | -30.8% |
| Other financial charges | 652/9 | €121,450 | €90,999 | -€30,451 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €46,524 | €47,993 | +€1,469 | +3.2% |
| Income taxes | 67/77 | €42,971 | €52,667 | +€9,696 | +22.6% |
| Taxes | 670/3 | €42,971 | €58,566 | +€15,595 | +36.3% |
| Tax adjustments and reversals of tax provisions | 77 | - | €5,899 | +€5,899 | |
| Profit (loss) for the period | 9904 | €3,553 | -€4,674 | -€8,227 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,553 | -€4,674 | -€8,227 |
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 17 October 2026 via checked.be.