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.
HERMANS
Largest movements
- Tangible fixed assets +€182,451
new in 2025: €182,451
of which Plant, machinery and equipment: +€169,118
- Stocks and contracts +€27,633
new in 2025: €27,633
- Cash +€8,623
new in 2025: €8,623
mainly Other debts (+€104,635) and Debts after one year (+€93,985)
- Receivables within one year +€6,982
new in 2025: €6,982
of which Trade receivables: +€5,166
- Other debts +€104,635
up €104,635 (+558.5%), from €18,734 to €123,369
- Debts after one year +€93,985
new in 2025: €93,985
- Current portion of long-term debt +€20,564
new in 2025: €20,564
- Profit (loss) carried forward +€6,401
up €6,401 (+15.3%), from -€41,885 to -€35,484
- Depreciation +€38,146
new in 2025: €38,146
- Gross operating margin +€30,463
up €30,463 (+168.2%), from €18,112 to €48,575
- Financial income -€15,711
down €15,711 (-99.4%), from €15,804 to €93
of which Financial income: -€15,711
- Write-downs -€12,383
no longer reported in 2025 (was €12,383)
- Financial charges +€2,355
up €2,355 (+192.4%), from €1,224 to €3,579
of which Non-recurring financial charges: +€3,579
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 | €0 | €225,689 | +€225,689 | |
| Fixed assets | 21/28 | - | €182,451 | +€182,451 | |
| Tangible fixed assets | 22/27 | - | €182,451 | +€182,451 | |
| Plant, machinery and equipment | 23 | - | €169,118 | +€169,118 | |
| Furniture and vehicles | 24 | - | €13,333 | +€13,333 | |
| Current assets | 29/58 | €0 | €43,238 | +€43,238 | |
| Stocks and contracts in progress | 3 | - | €27,633 | +€27,633 | |
| Stocks | 30/36 | - | €27,633 | +€27,633 | |
| Amounts receivable within one year | 40/41 | - | €6,982 | +€6,982 | |
| Trade receivables | 40 | - | €5,166 | +€5,166 | |
| Other amounts receivable | 41 | - | €1,816 | +€1,816 | |
| Cash at bank and in hand | 54/58 | - | €8,623 | +€8,623 | |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €0 | €225,689 | +€225,689 | |
| Equity | 10/15 | -€18,734 | -€12,333 | +€6,401 | +34.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,551 | €4,551 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,691 | €2,691 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€41,885 | -€35,484 | +€6,401 | +15.3% |
| Amounts payable | 17/49 | €18,734 | €238,022 | +€219,288 | +1170.5% |
| Amounts payable after more than one year | 17 | - | €93,985 | +€93,985 | |
| Financial debts | 170/4 | - | €93,985 | +€93,985 | |
| Amounts payable within one year | 42/48 | €18,734 | €144,037 | +€125,303 | +668.9% |
| Current portion of amounts payable after more than one year | 42 | - | €20,564 | +€20,564 | |
| Trade debts | 44 | - | €104 | +€104 | |
| Suppliers | 440/4 | - | €104 | +€104 | |
| Other amounts payable | 47/48 | €18,734 | €123,369 | +€104,635 | +558.5% |
| Non-recurring operating income | 76A | €33,547 | - | -€33,547 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €38,146 | +€38,146 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,383 | - | -€12,383 | |
| Other operating charges | 640/8 | €11 | €542 | +€531 | +4824.7% |
| Gross operating margin | 9900 | €18,112 | €48,575 | +€30,463 | +168.2% |
| Operating profit (loss) | 9901 | €5,718 | €9,887 | +€4,169 | +72.9% |
| Financial income | 75/76B | €15,804 | €93 | -€15,711 | -99.4% |
| Recurring financial income | 75 | €15,804 | €93 | -€15,711 | -99.4% |
| Non-recurring financial income | 76B | €15,804 | €93 | -€15,711 | -99.4% |
| Financial charges | 65/66B | €1,224 | €3,579 | +€2,355 | +192.4% |
| Recurring financial charges | 65 | €1,224 | €3,579 | +€2,355 | +192.4% |
| Non-recurring financial charges | 66B | - | €3,579 | +€3,579 | |
| Profit (loss) for the period before taxes | 9903 | €20,298 | €6,401 | -€13,897 | -68.5% |
| Profit (loss) for the period | 9904 | €20,298 | €6,401 | -€13,897 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,298 | €6,401 | -€13,897 | -68.5% |
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 9 October 2026 via checked.be.