HERMAR: 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.
What changed
HERMAR
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€2,777
2024 · -€110,298+€107,521
Equity
€2.4m
2024 · €2.4m-€2,777
Cash
€14,495
2024 · €19,242-€4,747
Balance sheet total
€4.9m
2024 · €4.9m-€21,258
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Staff costs -€180,074
down €180,074 (-64.4%), from €279,501 to €99,427
- Turnover -€116,017
down €116,017 (-17.9%), from €648,226 to €532,209
- Services and other goods -€48,409
down €48,409 (-10.0%), from €484,403 to €435,994
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.
Result 2024
-€110,298
Turnover
-€116,017
Other operating income
-€528
Services and other goods
+€48,409
Staff costs
+€180,074
Depreciation
+€1,211
Other operating charges
-€3,565
Other operating items
-€3,161
Financial income
+€6
Financial charges
+€1,085
Taxes
+€8
Result 2025
-€2,777
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€7,343
Investment
-€3,517
Financing
-€8,573
Cash 2024
€19,242
From operations (derived)
+€7,343
Net result for the year
-€2,777
Depreciation
+€55,699
Receivables within one year
-€37,056
Deferred charges and accrued income
+€1,384
Trade debts
+€3,106
Tax, wage and social debts
-€21,077
Advances received
+€46,585
Other debts
-€38,522
Investment (derived)
-€3,517
Investment in fixed assets (net)
-€3,517
Financing
-€8,573
Debts after one year
-€8,786
Current portion of long-term debt
+€213
Cash 2025
€14,495
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,885,609 | €4,864,351 | -€21,258 | -0.4% |
| Fixed assets | 21/28 | €3,250,870 | €3,198,688 | -€52,183 | -1.6% |
| Intangible fixed assets | 21 | €23,204 | €13,465 | -€9,738 | -42.0% |
| Tangible fixed assets | 22/27 | €214,536 | €172,092 | -€42,444 | -19.8% |
| Land and buildings | 22 | €155 | - | -€155 | |
| Plant, machinery and equipment | 23 | €4,517 | €3,887 | -€631 | -14.0% |
| Furniture and vehicles | 24 | €41,431 | €32,026 | -€9,405 | -22.7% |
| Leasing and similar rights | 25 | €31,414 | €20,496 | -€10,918 | -34.8% |
| Other tangible fixed assets | 26 | €137,019 | €115,684 | -€21,335 | -15.6% |
| Financial fixed assets | 28 | €3,013,130 | €3,013,130 | = | 0.0% |
| Affiliated companies | 280/1 | €3,012,760 | €3,012,760 | = | 0.0% |
| Participating interests | 280 | €917,760 | €917,760 | = | 0.0% |
| Amounts receivable | 281 | €2,095,000 | €2,095,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €370 | €370 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €370 | €370 | = | 0.0% |
| Current assets | 29/58 | €1,634,739 | €1,665,663 | +€30,925 | +1.9% |
| Amounts receivable within one year | 40/41 | €1,604,449 | €1,641,505 | +€37,056 | +2.3% |
| Trade receivables | 40 | €78,168 | €67,221 | -€10,947 | -14.0% |
| Other amounts receivable | 41 | €1,526,281 | €1,574,284 | +€48,003 | +3.1% |
| Cash at bank and in hand | 54/58 | €19,242 | €14,495 | -€4,747 | -24.7% |
| Deferred charges and accrued income | 490/1 | €11,048 | €9,664 | -€1,384 | -12.5% |
| Total equity and liabilities | 10/49 | €4,885,609 | €4,864,351 | -€21,258 | -0.4% |
| Equity | 10/15 | €2,398,725 | €2,395,948 | -€2,777 | -0.1% |
| Contributions | 10/11 | €2,676,000 | €2,676,000 | = | 0.0% |
| Reserves | 13 | €7,000 | €7,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€284,275 | -€287,052 | -€2,777 | -1.0% |
| Amounts payable | 17/49 | €2,486,884 | €2,468,403 | -€18,481 | -0.7% |
| Amounts payable after more than one year | 17 | €24,463 | €15,677 | -€8,786 | -35.9% |
| Financial debts | 170/4 | €24,463 | €15,677 | -€8,786 | -35.9% |
| Leasing and similar obligations | 172 | €24,463 | €15,677 | -€8,786 | -35.9% |
| Amounts payable within one year | 42/48 | €2,462,421 | €2,452,726 | -€9,695 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €8,573 | €8,786 | +€213 | +2.5% |
| Trade debts | 44 | €31,212 | €34,317 | +€3,106 | +10.0% |
| Suppliers | 440/4 | €31,212 | €34,317 | +€3,106 | +10.0% |
| Advances received on contracts in progress | 46 | - | €46,585 | +€46,585 | |
| Taxes, remuneration and social security | 45 | €38,445 | €17,368 | -€21,077 | -54.8% |
| Taxes | 450/3 | €37,531 | €17,368 | -€20,163 | -53.7% |
| Remuneration and social security | 454/9 | €914 | - | -€914 | |
| Other amounts payable | 47/48 | €2,384,191 | €2,345,669 | -€38,522 | -1.6% |
| Operating income | 70/76A | €732,049 | €612,343 | -€119,706 | -16.4% |
| Turnover | 70 | €648,226 | €532,209 | -€116,017 | -17.9% |
| Other operating income | 74 | €80,662 | €80,134 | -€528 | -0.7% |
| Non-recurring operating income | 76A | €3,161 | - | -€3,161 | |
| Operating charges | 60/66A | €833,529 | €607,400 | -€226,129 | -27.1% |
| Services and other goods | 61 | €484,403 | €435,994 | -€48,409 | -10.0% |
| Remuneration, social security and pensions | 62 | €279,501 | €99,427 | -€180,074 | -64.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,911 | €55,699 | -€1,211 | -2.1% |
| Other operating charges | 640/8 | €12,715 | €16,279 | +€3,565 | +28.0% |
| Operating profit (loss) | 9901 | -€101,480 | €4,943 | +€106,423 | |
| Financial income | 75/76B | €5 | €10 | +€6 | +119% |
| Recurring financial income | 75 | €5 | €10 | +€6 | +119% |
| Other financial income | 752/9 | €5 | €10 | +€6 | +119% |
| Financial charges | 65/66B | €7,183 | €6,098 | -€1,085 | -15.1% |
| Recurring financial charges | 65 | €7,183 | €6,098 | -€1,085 | -15.1% |
| Debt charges | 650 | €7,062 | €5,965 | -€1,096 | -15.5% |
| Other financial charges | 652/9 | €122 | €133 | +€11 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | -€108,658 | -€1,145 | +€107,514 | +98.9% |
| Income taxes | 67/77 | €1,640 | €1,632 | -€8 | -0.5% |
| Taxes | 670/3 | €1,640 | €1,632 | -€8 | -0.5% |
| Profit (loss) for the period | 9904 | -€110,298 | -€2,777 | +€107,521 | +97.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€110,298 | -€2,777 | +€107,521 | +97.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.