Hermanus Bruges: what changed
Hermanus Bruges
Largest movements
- Cash +€40,089
up €40,089 (+73.3%), from €54,712 to €94,801
mainly Net result for the year (+€35,918) and Other debts (+€26,595)
- Tangible fixed assets -€13,222
down €13,222 (-16.5%), from €80,051 to €66,829
- Receivables within one year -€6,413
down €6,413 (-76.6%), from €8,373 to €1,961
of which Trade receivables: -€5,454
- Intangible fixed assets -€3,000
down €3,000 (-20.1%), from €14,934 to €11,934
- Stocks and contracts -€2,782
down €2,782 (-14.8%), from €18,731 to €15,950
- Other debts +€26,595
new in 2025: €26,595
- Debts after one year -€17,725
down €17,725 (-40.5%), from €43,785 to €26,060
- Reserves +€9,918
up €9,918 (+10.7%), from €92,444 to €102,362
- Tax, wage and social debts -€3,300
down €3,300 (-42.5%), from €7,770 to €4,469
of which Taxes: -€1,656
- Gross operating margin +€19,507
up €19,507 (+13.5%), from €144,584 to €164,091
- Depreciation +€7,616
up €7,616 (+46.1%), from €16,522 to €24,138
- Staff costs -€5,903
down €5,903 (-5.8%), from €101,072 to €95,169
- Write-downs -€3,765
down €3,765, from €1,883 to -€1,883
- Financial income -€2,476
down €2,476 (-99.3%), from €2,492 to €16
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €178,716 | €193,628 | +€14,912 | +8.3% |
| Fixed assets | 21/28 | €95,214 | €78,991 | -€16,222 | -17.0% |
| Intangible fixed assets | 21 | €14,934 | €11,934 | -€3,000 | -20.1% |
| Tangible fixed assets | 22/27 | €80,051 | €66,829 | -€13,222 | -16.5% |
| Plant, machinery and equipment | 23 | €5,140 | €2,290 | -€2,850 | -55.4% |
| Furniture and vehicles | 24 | €56,241 | €51,624 | -€4,617 | -8.2% |
| Other tangible fixed assets | 26 | €18,670 | €12,915 | -€5,755 | -30.8% |
| Financial fixed assets | 28 | €228 | €228 | = | 0.0% |
| Current assets | 29/58 | €83,502 | €114,637 | +€31,135 | +37.3% |
| Stocks and contracts in progress | 3 | €18,731 | €15,950 | -€2,782 | -14.8% |
| Stocks | 30/36 | €18,731 | €15,950 | -€2,782 | -14.8% |
| Amounts receivable within one year | 40/41 | €8,373 | €1,961 | -€6,413 | -76.6% |
| Trade receivables | 40 | €6,654 | €1,200 | -€5,454 | -82.0% |
| Other amounts receivable | 41 | €1,720 | €761 | -€959 | -55.8% |
| Cash at bank and in hand | 54/58 | €54,712 | €94,801 | +€40,089 | +73.3% |
| Deferred charges and accrued income | 490/1 | €1,685 | €1,925 | +€240 | +14.2% |
| Total equity and liabilities | 10/49 | €178,716 | €193,628 | +€14,912 | +8.3% |
| Equity | 10/15 | €94,944 | €104,862 | +€9,918 | +10.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €92,444 | €102,362 | +€9,918 | +10.7% |
| Distributable reserves | 133 | €92,444 | €102,362 | +€9,918 | +10.7% |
| Amounts payable | 17/49 | €83,772 | €88,767 | +€4,995 | +6.0% |
| Amounts payable after more than one year | 17 | €43,785 | €26,060 | -€17,725 | -40.5% |
| Financial debts | 170/4 | €43,785 | €26,060 | -€17,725 | -40.5% |
| Amounts payable within one year | 42/48 | €39,987 | €62,707 | +€22,720 | +56.8% |
| Current portion of amounts payable after more than one year | 42 | €19,065 | €17,725 | -€1,340 | -7.0% |
| Trade debts | 44 | €13,152 | €13,917 | +€765 | +5.8% |
| Suppliers | 440/4 | €13,152 | €13,917 | +€765 | +5.8% |
| Taxes, remuneration and social security | 45 | €7,770 | €4,469 | -€3,300 | -42.5% |
| Taxes | 450/3 | €4,158 | €2,502 | -€1,656 | -39.8% |
| Remuneration and social security | 454/9 | €3,612 | €1,967 | -€1,644 | -45.5% |
| Other amounts payable | 47/48 | - | €26,595 | +€26,595 | |
| Remuneration, social security and pensions | 62 | €101,072 | €95,169 | -€5,903 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,522 | €24,138 | +€7,616 | +46.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,883 | -€1,883 | -€3,765 | |
| Other operating charges | 640/8 | €3,248 | €3,112 | -€135 | -4.2% |
| Gross operating margin | 9900 | €144,584 | €164,091 | +€19,507 | +13.5% |
| Operating profit (loss) | 9901 | €21,860 | €43,554 | +€21,694 | +99.2% |
| Financial income | 75/76B | €2,492 | €16 | -€2,476 | -99.3% |
| Recurring financial income | 75 | €2,492 | €16 | -€2,476 | -99.3% |
| Financial charges | 65/66B | €1,412 | €2,640 | +€1,228 | +87.0% |
| Recurring financial charges | 65 | €1,412 | €2,640 | +€1,228 | +87.0% |
| Profit (loss) for the period before taxes | 9903 | €22,941 | €40,931 | +€17,990 | +78.4% |
| Income taxes | 67/77 | €6,785 | €5,013 | -€1,772 | -26.1% |
| Profit (loss) for the period | 9904 | €16,156 | €35,918 | +€19,761 | +122% |
| Profit (loss) for the period to be appropriated | 9905 | €16,156 | €35,918 | +€19,761 | +122% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.