HERMECO: 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
HERMECO
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€38,988
2024 · €104,490-€65,501
Equity
€2.9m
2024 · €4.0m-€1.1m
Cash
€34,565
2024 · €72,884-€38,319
Balance sheet total
€6.3m
2024 · €6.5m-€268,787
Largest movements
Assets
- Tangible fixed assets -€268,459
down €268,459 (-10.3%), from €2.6m to €2.3m
of which Land and buildings: -€234,570
Equity and liabilities
- Other debts +€1.2m
new in 2025: €1.2m
- Reserves -€1.1m
down €1.1m (-28.1%), from €4.0m to €2.9m
of which Distributable reserves: -€1.1m
- Debts after one year -€661,851
down €661,851 (-38.6%), from €1.7m to €1.1m
- Current portion of long-term debt +€602,603
up €602,603 (+1,017%), from €59,248 to €661,851
- Short-term financial debts -€219,504
down €219,504 (-32.8%), from €670,000 to €450,496
Income statement
- Financial charges +€47,982
up €47,982 (+75.1%), from €63,883 to €111,865
- Taxes +€23,602
up €23,602 (+60.1%), from €39,251 to €62,853
- Financial income +€16,844
up €16,844 (+25.4%), from €66,288 to €83,132
- Other operating charges +€16,624
up €16,624 (+28.1%), from €59,077 to €75,701
- Gross operating margin +€7,120
up €7,120 (+1.3%), from €542,924 to €550,044
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
€104,490
Gross operating margin
+€7,120
Staff costs
-€237
Depreciation
-€494
Other operating charges
-€16,624
Other operating items
-€527
Financial income
+€16,844
Financial charges
-€47,982
Taxes
-€23,602
Result 2025
€38,988
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
+€1.4m
Investment
-€8,742
Financing
-€1.4m
Cash 2024
€72,884
From operations (derived)
+€1.4m
Net result for the year
+€38,988
Depreciation
+€277,200
Receivables after one year
+€6,569
Receivables within one year
-€19,728
Deferred charges and accrued income
-€24,832
Trade debts
+€2,093
Tax, wage and social debts
-€31,116
Other debts
+€1.2m
Investment (derived)
-€8,742
Investment in fixed assets (net)
-€8,742
Financing
-€1.4m
Debts after one year
-€661,851
Current portion of long-term debt
+€602,603
Short-term financial debts
-€219,504
Contributions, distributions and other
-€1.2m
Cash 2025
€34,565
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,540,041 | €6,271,254 | -€268,787 | -4.1% |
| Fixed assets | 21/28 | €2,920,237 | €2,651,778 | -€268,459 | -9.2% |
| Tangible fixed assets | 22/27 | €2,594,237 | €2,325,778 | -€268,459 | -10.3% |
| Land and buildings | 22 | €2,475,078 | €2,240,507 | -€234,570 | -9.5% |
| Plant, machinery and equipment | 23 | €114,556 | €84,628 | -€29,927 | -26.1% |
| Furniture and vehicles | 24 | €4,604 | €643 | -€3,961 | -86.0% |
| Financial fixed assets | 28 | €326,000 | €326,000 | = | 0.0% |
| Current assets | 29/58 | €3,619,804 | €3,619,475 | -€328 | 0.0% |
| Amounts receivable after more than one year | 29 | €2,118,415 | €2,111,847 | -€6,569 | -0.3% |
| Trade receivables | 290 | €189,555 | €183,993 | -€5,563 | -2.9% |
| Other amounts receivable | 291 | €1,928,860 | €1,927,854 | -€1,006 | -0.1% |
| Amounts receivable within one year | 40/41 | €1,147,875 | €1,167,603 | +€19,728 | +1.7% |
| Trade receivables | 40 | €29,682 | €25,088 | -€4,594 | -15.5% |
| Other amounts receivable | 41 | €1,118,193 | €1,142,514 | +€24,321 | +2.2% |
| Current investments | 50/53 | €201,094 | €201,094 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,884 | €34,565 | -€38,319 | -52.6% |
| Deferred charges and accrued income | 490/1 | €79,535 | €104,367 | +€24,832 | +31.2% |
| Total equity and liabilities | 10/49 | €6,540,041 | €6,271,254 | -€268,787 | -4.1% |
| Equity | 10/15 | €4,036,938 | €2,920,141 | -€1.1m | -27.7% |
| Contributions | 10/11 | €62,001 | €62,001 | = | 0.0% |
| Capital | 10 | €62,001 | €62,001 | = | 0.0% |
| Issued capital | 100 | €62,001 | €62,001 | = | 0.0% |
| Reserves | 13 | €3,974,937 | €2,858,140 | -€1.1m | -28.1% |
| Non-distributable reserves | 130/1 | €6,199 | €6,199 | = | 0.0% |
| Legal reserve | 130 | €6,199 | €6,199 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,805 | €6,805 | = | 0.0% |
| Distributable reserves | 133 | €3,961,933 | €2,845,137 | -€1.1m | -28.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,503,103 | €3,351,113 | +€848,010 | +33.9% |
| Amounts payable after more than one year | 17 | €1,716,808 | €1,054,957 | -€661,851 | -38.6% |
| Financial debts | 170/4 | €1,716,808 | €1,054,957 | -€661,851 | -38.6% |
| Amounts payable within one year | 42/48 | €786,295 | €2,296,155 | +€1.5m | +192% |
| Current portion of amounts payable after more than one year | 42 | €59,248 | €661,851 | +€602,603 | +1,017% |
| Financial debts | 43 | €670,000 | €450,496 | -€219,504 | -32.8% |
| Credit institutions | 430/8 | €670,000 | €450,496 | -€219,504 | -32.8% |
| Trade debts | 44 | €3,311 | €5,404 | +€2,093 | +63.2% |
| Suppliers | 440/4 | €3,311 | €5,404 | +€2,093 | +63.2% |
| Taxes, remuneration and social security | 45 | €53,736 | €22,620 | -€31,116 | -57.9% |
| Taxes | 450/3 | €43,334 | €11,959 | -€31,375 | -72.4% |
| Remuneration and social security | 454/9 | €10,402 | €10,661 | +€259 | +2.5% |
| Other amounts payable | 47/48 | - | €1,155,785 | +€1.2m | |
| Non-recurring operating income | 76A | €37,850 | €36,000 | -€1,850 | -4.9% |
| Remuneration, social security and pensions | 62 | €65,805 | €66,042 | +€237 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €276,706 | €277,200 | +€494 | +0.2% |
| Other operating charges | 640/8 | €59,077 | €75,701 | +€16,624 | +28.1% |
| Non-recurring operating charges | 66A | - | €527 | +€527 | |
| Gross operating margin | 9900 | €542,924 | €550,044 | +€7,120 | +1.3% |
| Operating profit (loss) | 9901 | €141,336 | €130,574 | -€10,761 | -7.6% |
| Financial income | 75/76B | €66,288 | €83,132 | +€16,844 | +25.4% |
| Recurring financial income | 75 | €66,288 | €83,132 | +€16,844 | +25.4% |
| Financial charges | 65/66B | €63,883 | €111,865 | +€47,982 | +75.1% |
| Recurring financial charges | 65 | €63,883 | €111,865 | +€47,982 | +75.1% |
| Profit (loss) for the period before taxes | 9903 | €143,741 | €101,841 | -€41,899 | -29.1% |
| Income taxes | 67/77 | €39,251 | €62,853 | +€23,602 | +60.1% |
| Profit (loss) for the period | 9904 | €104,490 | €38,988 | -€65,501 | -62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €104,490 | €38,988 | -€65,501 | -62.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.