HERMANS RACING: 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 RACING
Largest movements
- Tangible fixed assets +€57,018
up €57,018 (+14.0%), from €407,180 to €464,198
of which Furniture and vehicles: +€67,714
- Receivables within one year -€16,592
down €16,592 (-91.7%), from €18,092 to €1,500
of which Trade receivables: -€16,592
- Cash +€6,993
up €6,993 (+8.4%), from €83,397 to €90,390
mainly Net result for the year (+€79,565) and Depreciation (+€19,428)
- Reserves +€79,565
up €79,565 (+56.2%), from €141,493 to €221,058
- Tax, wage and social debts -€22,818
down €22,818 (-31.0%), from €73,504 to €50,685
- Debts after one year -€17,014
down €17,014 (-6.9%), from €248,140 to €231,126
- Other debts +€6,236
up €6,236 (+29.0%), from €21,495 to €27,731
- Depreciation +€7,600
up €7,600 (+64.2%), from €11,828 to €19,428
- Taxes -€4,041
down €4,041 (-9.7%), from €41,569 to €37,528
- Gross operating margin -€2,396
down €2,396 (-1.6%), from €152,052 to €149,656
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 | €508,669 | €556,088 | +€47,419 | +9.3% |
| Fixed assets | 21/28 | €407,180 | €464,198 | +€57,018 | +14.0% |
| Tangible fixed assets | 22/27 | €407,180 | €464,198 | +€57,018 | +14.0% |
| Land and buildings | 22 | €400,883 | €391,162 | -€9,720 | -2.4% |
| Plant, machinery and equipment | 23 | €4,169 | €3,194 | -€975 | -23.4% |
| Furniture and vehicles | 24 | €2,128 | €69,842 | +€67,714 | +3,182% |
| Current assets | 29/58 | €101,489 | €91,890 | -€9,599 | -9.5% |
| Amounts receivable within one year | 40/41 | €18,092 | €1,500 | -€16,592 | -91.7% |
| Trade receivables | 40 | €18,092 | €1,500 | -€16,592 | -91.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €83,397 | €90,390 | +€6,993 | +8.4% |
| Total equity and liabilities | 10/49 | €508,669 | €556,088 | +€47,419 | +9.3% |
| Equity | 10/15 | €142,493 | €222,058 | +€79,565 | +55.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €141,493 | €221,058 | +€79,565 | +56.2% |
| Distributable reserves | 133 | €141,493 | €221,058 | +€79,565 | +56.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €366,176 | €334,030 | -€32,146 | -8.8% |
| Amounts payable after more than one year | 17 | €248,140 | €231,126 | -€17,014 | -6.9% |
| Financial debts | 170/4 | €248,140 | €231,126 | -€17,014 | -6.9% |
| Amounts payable within one year | 42/48 | €118,036 | €102,904 | -€15,132 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €16,394 | €17,014 | +€621 | +3.8% |
| Trade debts | 44 | €6,643 | €7,473 | +€830 | +12.5% |
| Suppliers | 440/4 | €6,643 | €7,473 | +€830 | +12.5% |
| Taxes, remuneration and social security | 45 | €73,504 | €50,685 | -€22,818 | -31.0% |
| Taxes | 450/3 | €73,504 | €50,685 | -€22,818 | -31.0% |
| Other amounts payable | 47/48 | €21,495 | €27,731 | +€6,236 | +29.0% |
| Remuneration, social security and pensions | 62 | €212 | €435 | +€222 | +105% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,828 | €19,428 | +€7,600 | +64.2% |
| Other operating charges | 640/8 | €1,540 | €2,907 | +€1,368 | +88.8% |
| Gross operating margin | 9900 | €152,052 | €149,656 | -€2,396 | -1.6% |
| Operating profit (loss) | 9901 | €138,471 | €126,886 | -€11,585 | -8.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €10,373 | €9,792 | -€581 | -5.6% |
| Recurring financial charges | 65 | €10,373 | €9,792 | -€581 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €128,098 | €117,093 | -€11,005 | -8.6% |
| Income taxes | 67/77 | €41,569 | €37,528 | -€4,041 | -9.7% |
| Profit (loss) for the period | 9904 | €86,529 | €79,565 | -€6,964 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €86,529 | €79,565 | -€6,964 | -8.0% |
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.