HERMANS MARC: 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 MARC
Largest movements
- Tangible fixed assets -€17,746
down €17,746 (-18.1%), from €98,106 to €80,360
of which Furniture and vehicles: -€19,906
- Cash +€13,990
up €13,990 (+32.4%), from €43,231 to €57,221
mainly Depreciation (+€23,470) and Tax, wage and social debts (+€6,901)
- Debts after one year -€15,853
down €15,853 (-32.7%), from €48,474 to €32,621
- Tax, wage and social debts +€6,901
up €6,901 (+110%), from €6,299 to €13,199
- Reserves +€3,702
up €3,702 (+4.3%), from €86,127 to €89,828
- Gross operating margin -€6,389
down €6,389 (-16.1%), from €39,728 to €33,339
- Financial charges -€1,384
down €1,384 (-33.2%), from €4,170 to €2,786
- Financial income -€1,287
down €1,287 (-49.2%), from €2,616 to €1,328
- Taxes -€788
down €788 (-18.6%), from €4,246 to €3,458
- Depreciation +€783
up €783 (+3.4%), from €22,688 to €23,470
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 | €169,931 | €166,515 | -€3,416 | -2.0% |
| Fixed assets | 21/28 | €98,106 | €80,360 | -€17,746 | -18.1% |
| Tangible fixed assets | 22/27 | €98,106 | €80,360 | -€17,746 | -18.1% |
| Plant, machinery and equipment | 23 | €1,491 | €3,413 | +€1,922 | +129% |
| Furniture and vehicles | 24 | €76,271 | €56,365 | -€19,906 | -26.1% |
| Other tangible fixed assets | 26 | €20,344 | €20,582 | +€238 | +1.2% |
| Current assets | 29/58 | €71,825 | €86,155 | +€14,330 | +20.0% |
| Amounts receivable within one year | 40/41 | €24,156 | €25,617 | +€1,461 | +6.0% |
| Trade receivables | 40 | €5,050 | €16 | -€5,035 | -99.7% |
| Other amounts receivable | 41 | €19,106 | €25,602 | +€6,496 | +34.0% |
| Cash at bank and in hand | 54/58 | €43,231 | €57,221 | +€13,990 | +32.4% |
| Deferred charges and accrued income | 490/1 | €4,439 | €3,317 | -€1,122 | -25.3% |
| Total equity and liabilities | 10/49 | €169,931 | €166,515 | -€3,416 | -2.0% |
| Equity | 10/15 | €98,527 | €102,228 | +€3,702 | +3.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €86,127 | €89,828 | +€3,702 | +4.3% |
| Distributable reserves | 133 | €86,127 | €89,828 | +€3,702 | +4.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €71,405 | €64,287 | -€7,118 | -10.0% |
| Amounts payable after more than one year | 17 | €48,474 | €32,621 | -€15,853 | -32.7% |
| Financial debts | 170/4 | €48,474 | €32,621 | -€15,853 | -32.7% |
| Amounts payable within one year | 42/48 | €22,931 | €31,666 | +€8,735 | +38.1% |
| Current portion of amounts payable after more than one year | 42 | €15,196 | €15,853 | +€657 | +4.3% |
| Financial debts | 43 | €899 | €788 | -€111 | -12.4% |
| Credit institutions | 430/8 | €899 | €788 | -€111 | -12.4% |
| Trade debts | 44 | €537 | €1,826 | +€1,289 | +240% |
| Suppliers | 440/4 | €537 | €1,826 | +€1,289 | +240% |
| Taxes, remuneration and social security | 45 | €6,299 | €13,199 | +€6,901 | +110% |
| Taxes | 450/3 | €6,299 | €13,199 | +€6,901 | +110% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,688 | €23,470 | +€783 | +3.4% |
| Other operating charges | 640/8 | €1,937 | €1,252 | -€686 | -35.4% |
| Gross operating margin | 9900 | €39,728 | €33,339 | -€6,389 | -16.1% |
| Operating profit (loss) | 9901 | €15,103 | €8,617 | -€6,486 | -42.9% |
| Financial income | 75/76B | €2,616 | €1,328 | -€1,287 | -49.2% |
| Recurring financial income | 75 | €2,616 | €1,328 | -€1,287 | -49.2% |
| Financial charges | 65/66B | €4,170 | €2,786 | -€1,384 | -33.2% |
| Recurring financial charges | 65 | €4,170 | €2,786 | -€1,384 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | €13,549 | €7,160 | -€6,389 | -47.2% |
| Income taxes | 67/77 | €4,246 | €3,458 | -€788 | -18.6% |
| Profit (loss) for the period | 9904 | €9,303 | €3,702 | -€5,602 | -60.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,303 | €3,702 | -€5,602 | -60.2% |
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.