Hermans Projects: 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 Projects
Largest movements
- Stocks and contracts +€340,836
up €340,836 (+16.1%), from €2.1m to €2.5m
- Receivables within one year +€212,802
up €212,802 (+37.3%), from €570,540 to €783,342
of which Trade receivables: +€203,544
- Cash +€103,302
up €103,302 (+1011.5%), from €10,213 to €113,515
mainly Net result for the year (+€676,309)
- Reserves +€676,309
up €676,309 (+49.3%), from €1.4m to €2.0m
No income-statement line moved by more than 1% of the activity.
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.
Cash bridge derived
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 | €2,700,635 | €3,358,773 | +€658,138 | +24.4% |
| Current assets | 29/58 | €2,700,635 | €3,358,773 | +€658,138 | +24.4% |
| Stocks and contracts in progress | 3 | €2,119,882 | €2,460,719 | +€340,836 | +16.1% |
| Stocks | 30/36 | €2,119,882 | €2,460,719 | +€340,836 | +16.1% |
| Amounts receivable within one year | 40/41 | €570,540 | €783,342 | +€212,802 | +37.3% |
| Trade receivables | 40 | €424,954 | €628,498 | +€203,544 | +47.9% |
| Other amounts receivable | 41 | €145,587 | €154,844 | +€9,258 | +6.4% |
| Cash at bank and in hand | 54/58 | €10,213 | €113,515 | +€103,302 | +1011.5% |
| Deferred charges and accrued income | 490/1 | - | €1,198 | +€1,198 | |
| Total equity and liabilities | 10/49 | €2,700,635 | €3,358,773 | +€658,138 | +24.4% |
| Equity | 10/15 | €1,392,338 | €2,068,647 | +€676,309 | +48.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,372,338 | €2,048,647 | +€676,309 | +49.3% |
| Distributable reserves | 133 | €1,372,338 | €2,048,647 | +€676,309 | +49.3% |
| Amounts payable | 17/49 | €1,308,297 | €1,290,126 | -€18,171 | -1.4% |
| Amounts payable within one year | 42/48 | €1,308,297 | €1,290,126 | -€18,171 | -1.4% |
| Trade debts | 44 | €275 | €133 | -€142 | -51.6% |
| Suppliers | 440/4 | €275 | €133 | -€142 | -51.6% |
| Taxes, remuneration and social security | 45 | €71,262 | €54,763 | -€16,499 | -23.2% |
| Taxes | 450/3 | €71,262 | €54,763 | -€16,499 | -23.2% |
| Other amounts payable | 47/48 | €1,236,760 | €1,235,230 | -€1,530 | -0.1% |
| Other operating charges | 640/8 | €409 | €7,169 | +€6,760 | +1654.8% |
| Gross operating margin | 9900 | €903,370 | €908,872 | +€5,502 | +0.6% |
| Operating profit (loss) | 9901 | €902,962 | €901,703 | -€1,258 | -0.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €64 | €40 | -€23 | -36.4% |
| Recurring financial charges | 65 | €64 | €40 | -€23 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €902,898 | €901,663 | -€1,235 | -0.1% |
| Income taxes | 67/77 | €225,695 | €225,354 | -€341 | -0.2% |
| Profit (loss) for the period | 9904 | €677,203 | €676,309 | -€894 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €677,203 | €676,309 | -€894 | -0.1% |
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 11 October 2026 via checked.be.