HERMES: 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.
HERMES
Largest movements
- Deferred charges and accrued income +€684
new in 2025: €684
- Receivables within one year +€209
up €209 (+1.6%), from €13,044 to €13,254
- Cash +€193
up €193 (+367.3%), from €53 to €246
mainly Net result for the year (+€617) and Trade debts (+€370)
- Profit (loss) carried forward +€617
up €617 (+5.5%), from €11,140 to €11,757
- Trade debts +€370
up €370 (+494.3%), from €75 to €445
- Turnover -€31,332
down €31,332 (-55.1%), from €56,894 to €25,562
- Purchases and services -€26,008
down €26,008 (-50.8%), from €51,217 to €25,210
- Gross operating margin -€4,988
down €4,988 (-78.1%), from €6,384 to €1,396
- Depreciation -€1,641
no longer reported in 2025 (was €1,641)
- Taxes -€1,220
no longer reported in 2025 (was €1,220)
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 | €13,197 | €14,184 | +€987 | +7.5% |
| Fixed assets | 21/28 | €100 | - | -€100 | |
| Financial fixed assets | 28 | €100 | - | -€100 | |
| Current assets | 29/58 | €13,097 | €14,184 | +€1,087 | +8.3% |
| Amounts receivable within one year | 40/41 | €13,044 | €13,254 | +€209 | +1.6% |
| Other amounts receivable | 41 | €13,044 | €13,254 | +€209 | +1.6% |
| Cash at bank and in hand | 54/58 | €53 | €246 | +€193 | +367.3% |
| Deferred charges and accrued income | 490/1 | - | €684 | +€684 | |
| Total equity and liabilities | 10/49 | €13,197 | €14,184 | +€987 | +7.5% |
| Equity | 10/15 | €13,122 | €13,739 | +€617 | +4.7% |
| Contributions | 10/11 | €592 | €592 | = | 0.0% |
| Reserves | 13 | €1,390 | €1,390 | = | 0.0% |
| Distributable reserves | 133 | €1,390 | €1,390 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,140 | €11,757 | +€617 | +5.5% |
| Amounts payable | 17/49 | €75 | €445 | +€370 | +494.3% |
| Amounts payable within one year | 42/48 | €75 | €445 | +€370 | +494.3% |
| Trade debts | 44 | €75 | €445 | +€370 | +494.3% |
| Suppliers | 440/4 | €75 | €445 | +€370 | +494.3% |
| Turnover | 70 | €56,894 | €25,562 | -€31,332 | -55.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €51,217 | €25,210 | -€26,008 | -50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,641 | - | -€1,641 | |
| Other operating charges | 640/8 | €1,502 | €614 | -€888 | -59.1% |
| Gross operating margin | 9900 | €6,384 | €1,396 | -€4,988 | -78.1% |
| Operating profit (loss) | 9901 | €3,240 | €781 | -€2,459 | -75.9% |
| Financial charges | 65/66B | €286 | €165 | -€121 | -42.5% |
| Recurring financial charges | 65 | €286 | €165 | -€121 | -42.5% |
| Profit (loss) for the period before taxes | 9903 | €2,954 | €617 | -€2,337 | -79.1% |
| Income taxes | 67/77 | €1,220 | - | -€1,220 | |
| Profit (loss) for the period | 9904 | €1,735 | €617 | -€1,118 | -64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,735 | €617 | -€1,118 | -64.4% |
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 1 October 2026 via checked.be.