HERMANS & PARTNERS: 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 & PARTNERS
Largest movements
- Stocks and contracts +€389,355
new in 2025: €389,355
- Cash -€369,721
down €369,721 (-99.1%), from €373,150 to €3,429
mainly Stocks and contracts (-€389,355) and Net result for the year (-€34,624)
- Receivables within one year +€23,138
up €23,138 (+156%), from €14,810 to €37,948
of which Trade receivables: +€22,937
- Deferred charges and accrued income +€22,758
up €22,758 (+1,859%), from €1,224 to €23,983
- Other debts +€69,236
up €69,236 (+46.2%), from €149,817 to €219,053
- Profit (loss) carried forward -€34,624
new in 2025: -€34,624
- Trade debts +€28,547
up €28,547 (+771%), from €3,702 to €32,250
- Gross operating margin -€21,432
down €21,432, from €17,993 to -€3,439
- Other operating charges +€17,874
up €17,874 (+1,574%), from €1,135 to €19,009
- Financial income +€2,205
up €2,205 (+522%), from €422 to €2,628
- Taxes -€973
no longer reported in 2025 (was €973)
- Financial charges +€633
up €633 (+4.8%), from €13,107 to €13,740
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 | €393,416 | €457,882 | +€64,466 | +16.4% |
| Fixed assets | 21/28 | €4,231 | €3,167 | -€1,064 | -25.2% |
| Tangible fixed assets | 22/27 | €4,231 | €3,167 | -€1,064 | -25.2% |
| Furniture and vehicles | 24 | €4,231 | €3,167 | -€1,064 | -25.2% |
| Current assets | 29/58 | €389,184 | €454,714 | +€65,530 | +16.8% |
| Stocks and contracts in progress | 3 | - | €389,355 | +€389,355 | |
| Stocks | 30/36 | - | €389,355 | +€389,355 | |
| Amounts receivable within one year | 40/41 | €14,810 | €37,948 | +€23,138 | +156% |
| Trade receivables | 40 | €76 | €23,012 | +€22,937 | +30,364% |
| Other amounts receivable | 41 | €14,735 | €14,935 | +€201 | +1.4% |
| Cash at bank and in hand | 54/58 | €373,150 | €3,429 | -€369,721 | -99.1% |
| Deferred charges and accrued income | 490/1 | €1,224 | €23,983 | +€22,758 | +1,859% |
| Total equity and liabilities | 10/49 | €393,416 | €457,882 | +€64,466 | +16.4% |
| Equity | 10/15 | €61,892 | €27,268 | -€34,624 | -55.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €55,692 | €55,692 | = | 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 | €53,832 | €53,832 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€34,624 | -€34,624 | |
| Provisions and deferred taxes | 16 | €168,512 | €169,498 | +€986 | +0.6% |
| Provisions for liabilities and charges | 160/5 | €168,512 | €169,498 | +€986 | +0.6% |
| Other liabilities and charges | 164/5 | €168,512 | €169,498 | +€986 | +0.6% |
| Amounts payable | 17/49 | €163,012 | €261,116 | +€98,104 | +60.2% |
| Amounts payable within one year | 42/48 | €153,520 | €251,533 | +€98,014 | +63.8% |
| Trade debts | 44 | €3,702 | €32,250 | +€28,547 | +771% |
| Suppliers | 440/4 | €3,702 | €32,250 | +€28,547 | +771% |
| Taxes, remuneration and social security | 45 | - | €230 | +€230 | |
| Taxes | 450/3 | - | €230 | +€230 | |
| Other amounts payable | 47/48 | €149,817 | €219,053 | +€69,236 | +46.2% |
| Accrued charges and deferred income | 492/3 | €9,492 | €9,583 | +€90 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,030 | €1,064 | +€34 | +3.3% |
| Other operating charges | 640/8 | €1,135 | €19,009 | +€17,874 | +1,574% |
| Gross operating margin | 9900 | €17,993 | -€3,439 | -€21,432 | |
| Operating profit (loss) | 9901 | €15,828 | -€23,512 | -€39,340 | |
| Financial income | 75/76B | €422 | €2,628 | +€2,205 | +522% |
| Recurring financial income | 75 | €422 | €2,628 | +€2,205 | +522% |
| Financial charges | 65/66B | €13,107 | €13,740 | +€633 | +4.8% |
| Recurring financial charges | 65 | €13,107 | €13,740 | +€633 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €3,144 | -€34,624 | -€37,767 | |
| Income taxes | 67/77 | €973 | - | -€973 | |
| Profit (loss) for the period | 9904 | €2,171 | -€34,624 | -€36,795 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,171 | -€34,624 | -€36,795 |
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 25 October 2026 via checked.be.