Hermes Asset Management: 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.
Hermes Asset Management
Largest movements
- Receivables within one year -€37,528
down €37,528 (-62.1%), from €60,446 to €22,918
of which Trade receivables: -€39,667
- Deferred charges and accrued income -€37,172
down €37,172 (-98.5%), from €37,745 to €574
- Financial fixed assets -€1,242
down €1,242 (-31.7%), from €3,917 to €2,675
- Debts after one year -€43,560
down €43,560 (-100%), from €43,560 to €0
- Other debts -€30,487
down €30,487 (-65.6%), from €46,471 to €15,984
- Trade debts -€3,140
down €3,140 (-49.9%), from €6,297 to €3,157
- Write-downs +€27,581
new in 2024: €27,581
- Financial income +€18,222
new in 2024: €18,222
of which Non-recurring financial income: +€18,000
- Gross operating margin +€5,603
up €5,603 (+61.8%), from €9,066 to €14,669
- Depreciation -€1,880
down €1,880 (-42.4%), from €4,434 to €2,555
- Taxes -€1,189
down €1,189 (-62.1%), from €1,914 to €725
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €115,017 | €38,314 | -€76,702 | -66.7% |
| Fixed assets | 21/28 | €15,584 | €13,857 | -€1,727 | -11.1% |
| Tangible fixed assets | 22/27 | €11,667 | €11,182 | -€486 | -4.2% |
| Furniture and vehicles | 24 | €11,667 | €11,182 | -€486 | -4.2% |
| Financial fixed assets | 28 | €3,917 | €2,675 | -€1,242 | -31.7% |
| Current assets | 29/58 | €99,433 | €24,458 | -€74,975 | -75.4% |
| Amounts receivable within one year | 40/41 | €60,446 | €22,918 | -€37,528 | -62.1% |
| Trade receivables | 40 | €60,446 | €20,779 | -€39,667 | -65.6% |
| Other amounts receivable | 41 | - | €2,139 | +€2,139 | |
| Cash at bank and in hand | 54/58 | €1,241 | €966 | -€276 | -22.2% |
| Deferred charges and accrued income | 490/1 | €37,745 | €574 | -€37,172 | -98.5% |
| Total equity and liabilities | 10/49 | €115,017 | €38,314 | -€76,702 | -66.7% |
| Equity | 10/15 | €5,177 | €4,462 | -€715 | -13.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €177 | €177 | = | 0.0% |
| Distributable reserves | 133 | €177 | €177 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€715 | -€715 | |
| Amounts payable | 17/49 | €109,840 | €33,853 | -€75,987 | -69.2% |
| Amounts payable after more than one year | 17 | €43,560 | €0 | -€43,560 | -100% |
| Financial debts | 170/4 | €43,560 | €0 | -€43,560 | -100% |
| Amounts payable within one year | 42/48 | €64,992 | €32,011 | -€32,981 | -50.7% |
| Trade debts | 44 | €6,297 | €3,157 | -€3,140 | -49.9% |
| Suppliers | 440/4 | €6,297 | €3,157 | -€3,140 | -49.9% |
| Taxes, remuneration and social security | 45 | €12,224 | €12,869 | +€646 | +5.3% |
| Taxes | 450/3 | €3,961 | €2,638 | -€1,322 | -33.4% |
| Remuneration and social security | 454/9 | €8,263 | €10,231 | +€1,968 | +23.8% |
| Other amounts payable | 47/48 | €46,471 | €15,984 | -€30,487 | -65.6% |
| Accrued charges and deferred income | 492/3 | €1,288 | €1,842 | +€554 | +43.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,434 | €2,555 | -€1,880 | -42.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,581 | +€27,581 | |
| Other operating charges | 640/8 | €1,788 | €996 | -€791 | -44.3% |
| Gross operating margin | 9900 | €9,066 | €14,669 | +€5,603 | +61.8% |
| Operating profit (loss) | 9901 | €2,844 | -€16,463 | -€19,307 | |
| Financial income | 75/76B | - | €18,222 | +€18,222 | |
| Recurring financial income | 75 | - | €222 | +€222 | |
| Non-recurring financial income | 76B | - | €18,000 | +€18,000 | |
| Financial charges | 65/66B | €935 | €1,750 | +€814 | +87.1% |
| Recurring financial charges | 65 | €935 | €1,750 | +€814 | +87.1% |
| Profit (loss) for the period before taxes | 9903 | €1,909 | €10 | -€1,899 | -99.5% |
| Income taxes | 67/77 | €1,914 | €725 | -€1,189 | -62.1% |
| Profit (loss) for the period | 9904 | -€5 | -€715 | -€710 | -14,891% |
| Profit (loss) for the period to be appropriated | 9905 | -€5 | -€715 | -€710 | -14,891% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.