HERMEDES: what changed
Two fiscal 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.
HERMEDES
Largest movements
- Cash +€205,956
up €205,956 (+329.0%), from €62,609 to €268,565
mainly Other debts (+€296,795) and Net result for the year (+€176,182)
- Current investments -€79,664
down €79,664 (-8.8%), from €906,421 to €826,757
- Tangible fixed assets +€41,268
up €41,268 (+35.9%), from €114,977 to €156,244
of which Furniture and vehicles: +€41,755
- Other debts +€296,795
up €296,795 (+1508.6%), from €19,673 to €316,469
- Reserves -€138,572
down €138,572 (-20.0%), from €693,157 to €554,585
- Financial income -€21,036
down €21,036 (-50.9%), from €41,301 to €20,265
- Gross operating margin +€10,279
up €10,279 (+3.3%), from €308,038 to €318,318
- Depreciation +€7,547
up €7,547 (+58.9%), from €12,804 to €20,351
- Taxes -€5,730
down €5,730 (-6.4%), from €89,281 to €83,551
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.
Cash bridge derived
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 | €1,120,196 | €1,284,703 | +€164,507 | +14.7% |
| Fixed assets | 21/28 | €114,977 | €156,244 | +€41,268 | +35.9% |
| Tangible fixed assets | 22/27 | €114,977 | €156,244 | +€41,268 | +35.9% |
| Land and buildings | 22 | €79,240 | €76,832 | -€2,408 | -3.0% |
| Furniture and vehicles | 24 | €27,745 | €69,500 | +€41,755 | +150.5% |
| Other tangible fixed assets | 26 | €7,992 | €9,913 | +€1,921 | +24.0% |
| Current assets | 29/58 | €1,005,220 | €1,128,459 | +€123,239 | +12.3% |
| Amounts receivable within one year | 40/41 | €36,082 | €32,741 | -€3,342 | -9.3% |
| Trade receivables | 40 | €26,385 | €31,050 | +€4,665 | +17.7% |
| Other amounts receivable | 41 | €9,697 | €1,690 | -€8,007 | -82.6% |
| Current investments | 50/53 | €906,421 | €826,757 | -€79,664 | -8.8% |
| Cash at bank and in hand | 54/58 | €62,609 | €268,565 | +€205,956 | +329.0% |
| Deferred charges and accrued income | 490/1 | €108 | €396 | +€288 | +268.1% |
| Total equity and liabilities | 10/49 | €1,120,196 | €1,284,703 | +€164,507 | +14.7% |
| Equity | 10/15 | €1,079,137 | €940,565 | -€138,572 | -12.8% |
| Contributions | 10/11 | €385,980 | €385,980 | = | 0.0% |
| Reserves | 13 | €693,157 | €554,585 | -€138,572 | -20.0% |
| Distributable reserves | 133 | €693,157 | €554,585 | -€138,572 | -20.0% |
| Amounts payable | 17/49 | €41,059 | €344,138 | +€303,079 | +738.1% |
| Amounts payable within one year | 42/48 | €41,059 | €344,138 | +€303,079 | +738.1% |
| Trade debts | 44 | €6,443 | €12,312 | +€5,869 | +91.1% |
| Suppliers | 440/4 | €6,443 | €12,312 | +€5,869 | +91.1% |
| Taxes, remuneration and social security | 45 | €14,943 | €15,357 | +€414 | +2.8% |
| Taxes | 450/3 | €8,135 | €8,305 | +€170 | +2.1% |
| Remuneration and social security | 454/9 | €6,808 | €7,052 | +€244 | +3.6% |
| Other amounts payable | 47/48 | €19,673 | €316,469 | +€296,795 | +1508.6% |
| Non-recurring operating income | 76A | - | €2,039 | +€2,039 | |
| Remuneration, social security and pensions | 62 | €58,426 | €57,042 | -€1,383 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,804 | €20,351 | +€7,547 | +58.9% |
| Other operating charges | 640/8 | €656 | €243 | -€413 | -62.9% |
| Gross operating margin | 9900 | €308,038 | €318,318 | +€10,279 | +3.3% |
| Operating profit (loss) | 9901 | €236,152 | €240,681 | +€4,528 | +1.9% |
| Financial income | 75/76B | €41,301 | €20,265 | -€21,036 | -50.9% |
| Recurring financial income | 75 | €41,301 | €20,265 | -€21,036 | -50.9% |
| Financial charges | 65/66B | €2,305 | €1,213 | -€1,092 | -47.4% |
| Recurring financial charges | 65 | €2,305 | €1,213 | -€1,092 | -47.4% |
| Profit (loss) for the period before taxes | 9903 | €275,149 | €259,732 | -€15,416 | -5.6% |
| Income taxes | 67/77 | €89,281 | €83,551 | -€5,730 | -6.4% |
| Profit (loss) for the period | 9904 | €185,867 | €176,182 | -€9,686 | -5.2% |
| Profit (loss) for the period to be appropriated | 9905 | €185,867 | €176,182 | -€9,686 | -5.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.