Hermatoo: what changed
Hermatoo
Largest movements
- Tangible fixed assets +€644,329
up €644,329 (+268%), from €240,000 to €884,329
- Receivables within one year +€59,926
up €59,926 (+104%), from €57,353 to €117,279
of which Trade receivables: +€60,184
- Receivables after one year -€56,611
down €56,611 (-12.0%), from €471,719 to €415,108
- Cash -€30,051
down €30,051 (-74.5%), from €40,312 to €10,260
mainly Investment in fixed assets (net) (-€655,496) and Receivables within one year (-€59,926)
- Debts after one year +€530,139
up €530,139 (+113%), from €467,499 to €997,638
- Reserves +€51,311
up €51,311 (+7,169%), from €716 to €52,027
- Current portion of long-term debt +€38,195
up €38,195 (+67.4%), from €56,667 to €94,861
- Gross operating margin +€43,742
up €43,742 (+211%), from €20,726 to €64,467
- Depreciation +€11,167
new in 2025: €11,167
- Financial charges +€9,838
up €9,838 (+101%), from €9,765 to €19,603
- Financial income +€6,785
up €6,785 (+60.9%), from €11,135 to €17,920
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 | €809,383 | €1,426,976 | +€617,592 | +76.3% |
| Fixed assets | 21/28 | €240,000 | €884,329 | +€644,329 | +268% |
| Tangible fixed assets | 22/27 | €240,000 | €884,329 | +€644,329 | +268% |
| Other tangible fixed assets | 26 | €240,000 | €884,329 | +€644,329 | +268% |
| Current assets | 29/58 | €569,383 | €542,647 | -€26,737 | -4.7% |
| Amounts receivable after more than one year | 29 | €471,719 | €415,108 | -€56,611 | -12.0% |
| Trade receivables | 290 | €471,719 | €415,108 | -€56,611 | -12.0% |
| Amounts receivable within one year | 40/41 | €57,353 | €117,279 | +€59,926 | +104% |
| Trade receivables | 40 | - | €60,184 | +€60,184 | |
| Other amounts receivable | 41 | €57,353 | €57,095 | -€258 | -0.4% |
| Cash at bank and in hand | 54/58 | €40,312 | €10,260 | -€30,051 | -74.5% |
| Total equity and liabilities | 10/49 | €809,383 | €1,426,976 | +€617,592 | +76.3% |
| Equity | 10/15 | €243,216 | €294,527 | +€51,311 | +21.1% |
| Contributions | 10/11 | €242,500 | €242,500 | = | 0.0% |
| Reserves | 13 | €716 | €52,027 | +€51,311 | +7,169% |
| Distributable reserves | 133 | €716 | €52,027 | +€51,311 | +7,169% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €566,168 | €1,132,449 | +€566,282 | +100% |
| Amounts payable after more than one year | 17 | €467,499 | €997,638 | +€530,139 | +113% |
| Financial debts | 170/4 | €467,499 | €997,638 | +€530,139 | +113% |
| Amounts payable within one year | 42/48 | €98,668 | €134,811 | +€36,143 | +36.6% |
| Current portion of amounts payable after more than one year | 42 | €56,667 | €94,861 | +€38,195 | +67.4% |
| Trade debts | 44 | €7,108 | €2,539 | -€4,569 | -64.3% |
| Suppliers | 440/4 | €7,108 | €2,539 | -€4,569 | -64.3% |
| Taxes, remuneration and social security | 45 | €8,553 | €0 | -€8,553 | -100% |
| Taxes | 450/3 | €8,553 | €0 | -€8,553 | -100% |
| Other amounts payable | 47/48 | €26,341 | €37,411 | +€11,070 | +42.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €11,167 | +€11,167 | |
| Other operating charges | 640/8 | €140 | €306 | +€166 | +118% |
| Gross operating margin | 9900 | €20,726 | €64,467 | +€43,742 | +211% |
| Operating profit (loss) | 9901 | €20,585 | €52,994 | +€32,408 | +157% |
| Financial income | 75/76B | €11,135 | €17,920 | +€6,785 | +60.9% |
| Recurring financial income | 75 | €11,135 | €17,920 | +€6,785 | +60.9% |
| Financial charges | 65/66B | €9,765 | €19,603 | +€9,838 | +101% |
| Recurring financial charges | 65 | €9,765 | €19,603 | +€9,838 | +101% |
| Profit (loss) for the period before taxes | 9903 | €21,956 | €51,311 | +€29,355 | +134% |
| Income taxes | 67/77 | €239 | €0 | -€239 | -100% |
| Profit (loss) for the period | 9904 | €21,717 | €51,311 | +€29,593 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €21,717 | €51,311 | +€29,593 | +136% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.