HERMANS GUIDO: 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 GUIDO
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€73,624
2024 · -€62,960-€10,664
Equity
€1.2m
2024 · €1.2m-€73,624
Cash
€598,720
2024 · €672,711-€73,991
Balance sheet total
€1.2m
2024 · €1.3m-€77,145
Largest movements
Assets
- Cash -€73,991
down €73,991 (-11.0%), from €672,711 to €598,720
mainly Net result for the year (-€73,624) and Investment in fixed assets (net) (-€15,062)
Equity and liabilities
- Profit (loss) carried forward -€73,624
down €73,624 (-44.7%), from -€164,821 to -€238,445
Income statement
- Gross operating margin -€9,880
down €9,880 (-19.5%), from -€50,762 to -€60,642
- Depreciation +€1,442
up €1,442 (+16.7%), from €8,644 to €10,086
- Staff costs -€1,238
no longer reported in 2025 (was €1,238)
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
-€62,960
Gross operating margin
-€9,880
Staff costs
+€1,238
Depreciation
-€1,442
Other operating charges
-€474
Financial income
+€5
Financial charges
-€110
Taxes
-€1
Result 2025
-€73,624
raises the resultlowers the result
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
-€58,929
Investment
-€15,062
Financing
€0
Cash 2024
€672,711
From operations (derived)
-€58,929
Net result for the year
-€73,624
Depreciation
+€10,086
Receivables within one year
+€8,213
Deferred charges and accrued income
-€83
Trade debts
-€3,104
Tax, wage and social debts
-€3,138
Other debts
+€2,720
Investment (derived)
-€15,062
Investment in fixed assets (net)
-€15,062
Cash 2025
€598,720
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,293,675 | €1,216,530 | -€77,145 | -6.0% |
| Fixed assets | 21/28 | €481,202 | €486,178 | +€4,975 | +1.0% |
| Tangible fixed assets | 22/27 | €477,466 | €482,442 | +€4,975 | +1.0% |
| Land and buildings | 22 | €450,532 | €450,466 | -€67 | 0.0% |
| Plant, machinery and equipment | 23 | €16,534 | €22,876 | +€6,342 | +38.4% |
| Furniture and vehicles | 24 | €10,400 | €9,100 | -€1,300 | -12.5% |
| Financial fixed assets | 28 | €3,736 | €3,736 | = | 0.0% |
| Current assets | 29/58 | €812,473 | €730,352 | -€82,121 | -10.1% |
| Amounts receivable within one year | 40/41 | €137,534 | €129,321 | -€8,213 | -6.0% |
| Trade receivables | 40 | €126,038 | €124,667 | -€1,371 | -1.1% |
| Other amounts receivable | 41 | €11,496 | €4,654 | -€6,842 | -59.5% |
| Cash at bank and in hand | 54/58 | €672,711 | €598,720 | -€73,991 | -11.0% |
| Deferred charges and accrued income | 490/1 | €2,228 | €2,311 | +€83 | +3.7% |
| Total equity and liabilities | 10/49 | €1,293,675 | €1,216,530 | -€77,145 | -6.0% |
| Equity | 10/15 | €1,238,093 | €1,164,469 | -€73,624 | -5.9% |
| Contributions | 10/11 | €12,405 | €12,405 | = | 0.0% |
| Reserves | 13 | €1,390,509 | €1,390,509 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,500 | €16,500 | = | 0.0% |
| Distributable reserves | 133 | €1,374,009 | €1,374,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€164,821 | -€238,445 | -€73,624 | -44.7% |
| Provisions and deferred taxes | 16 | €42,000 | €42,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €42,000 | €42,000 | = | 0.0% |
| Environmental obligations | 163 | €42,000 | €42,000 | = | 0.0% |
| Amounts payable | 17/49 | €13,583 | €10,061 | -€3,522 | -25.9% |
| Amounts payable within one year | 42/48 | €13,583 | €10,061 | -€3,522 | -25.9% |
| Trade debts | 44 | €3,419 | €315 | -€3,104 | -90.8% |
| Suppliers | 440/4 | €3,419 | €315 | -€3,104 | -90.8% |
| Taxes, remuneration and social security | 45 | €3,279 | €141 | -€3,138 | -95.7% |
| Taxes | 450/3 | €871 | €141 | -€731 | -83.8% |
| Remuneration and social security | 454/9 | €2,407 | - | -€2,407 | |
| Other amounts payable | 47/48 | €6,885 | €9,605 | +€2,720 | +39.5% |
| Remuneration, social security and pensions | 62 | €1,238 | - | -€1,238 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,644 | €10,086 | +€1,442 | +16.7% |
| Other operating charges | 640/8 | €1,556 | €2,030 | +€474 | +30.4% |
| Gross operating margin | 9900 | -€50,762 | -€60,642 | -€9,880 | -19.5% |
| Operating profit (loss) | 9901 | -€62,200 | -€72,758 | -€10,558 | -17.0% |
| Financial income | 75/76B | €1 | €6 | +€5 | +905% |
| Recurring financial income | 75 | €1 | €6 | +€5 | +905% |
| Financial charges | 65/66B | €621 | €731 | +€110 | +17.7% |
| Recurring financial charges | 65 | €621 | €731 | +€110 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | -€62,820 | -€73,483 | -€10,663 | -17.0% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€62,960 | -€73,624 | -€10,664 | -16.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€62,960 | -€73,624 | -€10,664 | -16.9% |
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 28 October 2026 via checked.be.