Hermes Consult: 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 Consult
Largest movements
- Receivables within one year -€68,102
down €68,102 (-54.4%), from €125,125 to €57,023
of which Other amounts receivable: -€67,606
- Tangible fixed assets -€17,329
down €17,329 (-36.5%), from €47,457 to €30,128
of which Furniture and vehicles: -€15,770
- Current investments +€9,600
up €9,600 (+11.6%), from €82,988 to €92,588
- Cash +€3,177
up €3,177 (+10.1%), from €31,330 to €34,507
mainly Receivables within one year (+€68,102) and Other debts (+€36,793)
- Reserves -€107,740
down €107,740 (-47.9%), from €224,877 to €117,137
- Other debts +€36,793
up €36,793 (+205%), from €17,965 to €54,757
- Trade debts +€6,880
up €6,880 (+461%), from €1,493 to €8,373
- Debts after one year -€6,561
down €6,561 (-100%), from €6,561 to €0
- Short-term financial debts +€3,427
up €3,427 (+353%), from €971 to €4,398
- Gross operating margin -€16,761
down €16,761 (-21.4%), from €78,263 to €61,502
- Depreciation -€4,881
down €4,881 (-22.2%), from €22,015 to €17,134
- Taxes -€4,029
down €4,029 (-21.6%), from €18,620 to €14,591
- Financial income -€2,213
down €2,213 (-32.7%), from €6,759 to €4,547
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €290,386 | €219,657 | -€70,729 | -24.4% |
| Fixed assets | 21/28 | €48,186 | €30,857 | -€17,329 | -36.0% |
| Tangible fixed assets | 22/27 | €47,457 | €30,128 | -€17,329 | -36.5% |
| Plant, machinery and equipment | 23 | €80 | €0 | -€80 | -100% |
| Furniture and vehicles | 24 | €39,931 | €24,161 | -€15,770 | -39.5% |
| Other tangible fixed assets | 26 | €7,445 | €5,966 | -€1,479 | -19.9% |
| Financial fixed assets | 28 | €729 | €729 | = | 0.0% |
| Current assets | 29/58 | €242,200 | €188,800 | -€53,400 | -22.0% |
| Amounts receivable within one year | 40/41 | €125,125 | €57,023 | -€68,102 | -54.4% |
| Trade receivables | 40 | €27,347 | €26,851 | -€496 | -1.8% |
| Other amounts receivable | 41 | €97,778 | €30,172 | -€67,606 | -69.1% |
| Current investments | 50/53 | €82,988 | €92,588 | +€9,600 | +11.6% |
| Cash at bank and in hand | 54/58 | €31,330 | €34,507 | +€3,177 | +10.1% |
| Deferred charges and accrued income | 490/1 | €2,757 | €4,683 | +€1,926 | +69.8% |
| Total equity and liabilities | 10/49 | €290,386 | €219,657 | -€70,729 | -24.4% |
| Equity | 10/15 | €240,467 | €131,894 | -€108,573 | -45.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €224,877 | €117,137 | -€107,740 | -47.9% |
| Distributable reserves | 133 | €224,877 | €117,137 | -€107,740 | -47.9% |
| Profit (loss) carried forward | 14 | €3,189 | €2,356 | -€833 | -26.1% |
| Amounts payable | 17/49 | €49,919 | €87,763 | +€37,844 | +75.8% |
| Amounts payable after more than one year | 17 | €6,561 | €0 | -€6,561 | -100% |
| Financial debts | 170/4 | €6,561 | €0 | -€6,561 | -100% |
| Amounts payable within one year | 42/48 | €43,358 | €87,763 | +€44,405 | +102% |
| Current portion of amounts payable after more than one year | 42 | €8,529 | €6,561 | -€1,968 | -23.1% |
| Financial debts | 43 | €971 | €4,398 | +€3,427 | +353% |
| Credit institutions | 430/8 | €971 | €4,398 | +€3,427 | +353% |
| Trade debts | 44 | €1,493 | €8,373 | +€6,880 | +461% |
| Suppliers | 440/4 | €1,493 | €8,373 | +€6,880 | +461% |
| Taxes, remuneration and social security | 45 | €14,400 | €13,673 | -€727 | -5.0% |
| Taxes | 450/3 | €14,400 | €13,673 | -€727 | -5.0% |
| Other amounts payable | 47/48 | €17,965 | €54,757 | +€36,793 | +205% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,015 | €17,134 | -€4,881 | -22.2% |
| Other operating charges | 640/8 | €573 | €833 | +€259 | +45.2% |
| Non-recurring operating charges | 66A | €0 | €195 | +€195 | |
| Gross operating margin | 9900 | €78,263 | €61,502 | -€16,761 | -21.4% |
| Operating profit (loss) | 9901 | €55,674 | €43,340 | -€12,334 | -22.2% |
| Financial income | 75/76B | €6,759 | €4,547 | -€2,213 | -32.7% |
| Recurring financial income | 75 | €6,759 | €4,547 | -€2,213 | -32.7% |
| Financial charges | 65/66B | €657 | €391 | -€267 | -40.6% |
| Recurring financial charges | 65 | €657 | €391 | -€267 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €61,776 | €47,496 | -€14,280 | -23.1% |
| Income taxes | 67/77 | €18,620 | €14,591 | -€4,029 | -21.6% |
| Profit (loss) for the period | 9904 | €43,157 | €32,905 | -€10,252 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,157 | €32,905 | -€10,252 | -23.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.