Hermans Holding: 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 Holding
Largest movements
- Cash +€37,319
up €37,319 (+233%), from €16,024 to €53,343
mainly Net result for the year (+€65,380) and Receivables within one year (+€6,664)
- Receivables within one year -€6,664
down €6,664 (-94.5%), from €7,054 to €390
of which Trade receivables: -€5,000
- Tangible fixed assets -€4,788
down €4,788 (-24.9%), from €19,216 to €14,428
of which Leasing and similar rights: -€3,570
- Reserves +€65,380
up €65,380 (+417%), from €15,667 to €81,046
- Debts after one year -€45,687
down €45,687 (-17.4%), from €262,616 to €216,928
- Tax, wage and social debts +€6,148
up €6,148 (+106%), from €5,815 to €11,963
of which Taxes: +€6,136
- Gross operating margin +€67,481
up €67,481 (+174%), from €38,864 to €106,345
- Taxes +€19,280
up €19,280 (+304%), from €6,336 to €25,615
- Financial charges -€3,942
down €3,942 (-28.2%), from €13,978 to €10,036
- Depreciation +€3,217
up €3,217 (+205%), from €1,571 to €4,788
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 | €392,294 | €419,146 | +€26,851 | +6.8% |
| Fixed assets | 21/28 | €369,216 | €364,428 | -€4,788 | -1.3% |
| Tangible fixed assets | 22/27 | €19,216 | €14,428 | -€4,788 | -24.9% |
| Furniture and vehicles | 24 | €2,004 | €1,262 | -€742 | -37.0% |
| Leasing and similar rights | 25 | €13,091 | €9,521 | -€3,570 | -27.3% |
| Other tangible fixed assets | 26 | €4,121 | €3,646 | -€476 | -11.5% |
| Financial fixed assets | 28 | €350,000 | €350,000 | = | 0.0% |
| Current assets | 29/58 | €23,078 | €54,717 | +€31,639 | +137% |
| Amounts receivable within one year | 40/41 | €7,054 | €390 | -€6,664 | -94.5% |
| Trade receivables | 40 | €5,390 | €390 | -€5,000 | -92.8% |
| Other amounts receivable | 41 | €1,664 | - | -€1,664 | |
| Cash at bank and in hand | 54/58 | €16,024 | €53,343 | +€37,319 | +233% |
| Deferred charges and accrued income | 490/1 | - | €984 | +€984 | |
| Total equity and liabilities | 10/49 | €392,294 | €419,146 | +€26,851 | +6.8% |
| Equity | 10/15 | €35,667 | €101,046 | +€65,380 | +183% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €15,667 | €81,046 | +€65,380 | +417% |
| Distributable reserves | 133 | €15,667 | €81,046 | +€65,380 | +417% |
| Amounts payable | 17/49 | €356,628 | €318,099 | -€38,529 | -10.8% |
| Amounts payable after more than one year | 17 | €262,616 | €216,928 | -€45,687 | -17.4% |
| Financial debts | 170/4 | €262,616 | €216,928 | -€45,687 | -17.4% |
| Amounts payable within one year | 42/48 | €93,196 | €100,354 | +€7,158 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €45,556 | €45,687 | +€132 | +0.3% |
| Trade debts | 44 | €2,673 | €1,881 | -€791 | -29.6% |
| Suppliers | 440/4 | €2,673 | €1,881 | -€791 | -29.6% |
| Taxes, remuneration and social security | 45 | €5,815 | €11,963 | +€6,148 | +106% |
| Taxes | 450/3 | €1,960 | €8,096 | +€6,136 | +313% |
| Remuneration and social security | 454/9 | €3,855 | €3,867 | +€13 | +0.3% |
| Other amounts payable | 47/48 | €39,153 | €40,822 | +€1,669 | +4.3% |
| Accrued charges and deferred income | 492/3 | €816 | €817 | +€1 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,571 | €4,788 | +€3,217 | +205% |
| Other operating charges | 640/8 | €1,312 | €526 | -€786 | -59.9% |
| Gross operating margin | 9900 | €38,864 | €106,345 | +€67,481 | +174% |
| Operating profit (loss) | 9901 | €35,981 | €101,031 | +€65,050 | +181% |
| Financial charges | 65/66B | €13,978 | €10,036 | -€3,942 | -28.2% |
| Recurring financial charges | 65 | €13,978 | €10,036 | -€3,942 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €22,002 | €90,995 | +€68,993 | +314% |
| Income taxes | 67/77 | €6,336 | €25,615 | +€19,280 | +304% |
| Profit (loss) for the period | 9904 | €15,667 | €65,380 | +€49,713 | +317% |
| Profit (loss) for the period to be appropriated | 9905 | €15,667 | €65,380 | +€49,713 | +317% |
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 26 October 2026 via checked.be.