HERMANS ERIC / HST: 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 ERIC / HST
Largest movements
- Stocks and contracts -€9,256
down €9,256 (-15.6%), from €59,146 to €49,890
- Tangible fixed assets +€5,742
up €5,742 (+21.0%), from €27,379 to €33,121
of which Leasing and similar rights: +€18,542
- Cash +€2,528
up €2,528 (+15.8%), from €15,991 to €18,519
mainly Depreciation (+€16,818) and Stocks and contracts (+€9,256)
- Receivables within one year +€1,603
up €1,603 (+6.4%), from €25,177 to €26,780
of which Trade receivables: +€2,484
- Trade debts -€19,195
down €19,195 (-88.0%), from €21,811 to €2,616
- Reserves +€8,463
up €8,463 (+13.2%), from €64,043 to €72,506
of which Distributable reserves: +€10,323
- Debts after one year +€8,335
up €8,335 (+218%), from €3,830 to €12,165
- Tax, wage and social debts +€2,826
up €2,826 (+49.6%), from €5,694 to €8,521
of which Taxes: +€2,807
- Short-term financial debts +€1,683
new in 2025: €1,683
- Gross operating margin +€5,219
up €5,219 (+20.2%), from €25,828 to €31,048
- Depreciation +€4,320
up €4,320 (+34.6%), from €12,498 to €16,818
- Taxes +€2,909
up €2,909 (+624%), from €466 to €3,375
- Financial charges +€518
up €518 (+69.9%), from €741 to €1,258
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €129,901 | €130,591 | +€691 | +0.5% |
| Fixed assets | 21/28 | €27,379 | €33,121 | +€5,742 | +21.0% |
| Tangible fixed assets | 22/27 | €27,379 | €33,121 | +€5,742 | +21.0% |
| Land and buildings | 22 | €1,087 | €643 | -€444 | -40.9% |
| Plant, machinery and equipment | 23 | €4,866 | €3,378 | -€1,489 | -30.6% |
| Furniture and vehicles | 24 | €21,425 | €10,557 | -€10,867 | -50.7% |
| Leasing and similar rights | 25 | - | €18,542 | +€18,542 | |
| Current assets | 29/58 | €102,522 | €97,471 | -€5,051 | -4.9% |
| Stocks and contracts in progress | 3 | €59,146 | €49,890 | -€9,256 | -15.6% |
| Stocks | 30/36 | €59,146 | €49,890 | -€9,256 | -15.6% |
| Amounts receivable within one year | 40/41 | €25,177 | €26,780 | +€1,603 | +6.4% |
| Trade receivables | 40 | €19,904 | €22,387 | +€2,484 | +12.5% |
| Other amounts receivable | 41 | €5,273 | €4,393 | -€881 | -16.7% |
| Cash at bank and in hand | 54/58 | €15,991 | €18,519 | +€2,528 | +15.8% |
| Deferred charges and accrued income | 490/1 | €2,208 | €2,282 | +€74 | +3.4% |
| Total equity and liabilities | 10/49 | €129,901 | €130,591 | +€691 | +0.5% |
| Equity | 10/15 | €82,643 | €91,106 | +€8,463 | +10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €64,043 | €72,506 | +€8,463 | +13.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €62,183 | €72,506 | +€10,323 | +16.6% |
| Amounts payable | 17/49 | €47,258 | €39,485 | -€7,773 | -16.4% |
| Amounts payable after more than one year | 17 | €3,830 | €12,165 | +€8,335 | +218% |
| Financial debts | 170/4 | €3,830 | €12,165 | +€8,335 | +218% |
| Amounts payable within one year | 42/48 | €43,427 | €27,320 | -€16,108 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €10,720 | €9,346 | -€1,374 | -12.8% |
| Financial debts | 43 | - | €1,683 | +€1,683 | |
| Credit institutions | 430/8 | - | €1,683 | +€1,683 | |
| Trade debts | 44 | €21,811 | €2,616 | -€19,195 | -88.0% |
| Suppliers | 440/4 | €21,811 | €2,616 | -€19,195 | -88.0% |
| Taxes, remuneration and social security | 45 | €5,694 | €8,521 | +€2,826 | +49.6% |
| Taxes | 450/3 | €2,779 | €5,586 | +€2,807 | +101% |
| Remuneration and social security | 454/9 | €2,916 | €2,935 | +€19 | +0.7% |
| Other amounts payable | 47/48 | €5,202 | €5,155 | -€47 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,498 | €16,818 | +€4,320 | +34.6% |
| Other operating charges | 640/8 | €1,161 | €1,175 | +€14 | +1.2% |
| Gross operating margin | 9900 | €25,828 | €31,048 | +€5,219 | +20.2% |
| Operating profit (loss) | 9901 | €12,170 | €13,055 | +€885 | +7.3% |
| Financial income | 75/76B | €23 | €42 | +€20 | +86.5% |
| Recurring financial income | 75 | €23 | €42 | +€20 | +86.5% |
| Financial charges | 65/66B | €741 | €1,258 | +€518 | +69.9% |
| Recurring financial charges | 65 | €741 | €1,258 | +€518 | +69.9% |
| Profit (loss) for the period before taxes | 9903 | €11,451 | €11,839 | +€387 | +3.4% |
| Income taxes | 67/77 | €466 | €3,375 | +€2,909 | +624% |
| Profit (loss) for the period | 9904 | €10,985 | €8,463 | -€2,522 | -23.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,985 | €8,463 | -€2,522 | -23.0% |
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 22 October 2026 via checked.be.