HERMES PLUS: 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 PLUS
Largest movements
- Deferred charges and accrued income +€270,961
up €270,961 (+140.6%), from €192,724 to €463,685
- Cash +€235,814
up €235,814 (+38.7%), from €608,781 to €844,594
- Provisions +€457,076
up €457,076 (+130.1%), from €351,434 to €808,509
- Trade debts +€35,715
up €35,715 (+35.3%), from €101,317 to €137,032
- Gross operating margin +€431,530
up €431,530 (+108.2%), from €398,880 to €830,410
- Staff costs +€95,557
up €95,557 (+34.8%), from €274,552 to €370,109
From the 2024 result to the 2025 result
The net result is not in both sets of accounts; without it the difference cannot be explained line by line.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €816,567 | €1,319,211 | +€502,643 | +61.6% |
| Fixed assets | 21/28 | €7,024 | €10,932 | +€3,907 | +55.6% |
| Tangible fixed assets | 22/27 | €6,612 | €10,520 | +€3,907 | +59.1% |
| Plant, machinery and equipment | 23 | €6,473 | €10,520 | +€4,046 | +62.5% |
| Furniture and vehicles | 24 | €139 | - | -€139 | |
| Financial fixed assets | 28 | €412 | €412 | = | 0.0% |
| Current assets | 29/58 | €809,543 | €1,308,279 | +€498,736 | +61.6% |
| Amounts receivable within one year | 40/41 | €8,038 | - | -€8,038 | |
| Other amounts receivable | 41 | €8,038 | - | -€8,038 | |
| Cash at bank and in hand | 54/58 | €608,781 | €844,594 | +€235,814 | +38.7% |
| Deferred charges and accrued income | 490/1 | €192,724 | €463,685 | +€270,961 | +140.6% |
| Total equity and liabilities | 10/49 | €816,567 | €1,319,211 | +€502,643 | +61.6% |
| Equity | 10/15 | €240,877 | €240,877 | = | 0.0% |
| Reserves | 13 | €240,877 | €240,877 | = | 0.0% |
| Provisions and deferred taxes | 16 | €351,434 | €808,509 | +€457,076 | +130.1% |
| Provisions for liabilities and charges | 160/5 | €351,434 | €808,509 | +€457,076 | +130.1% |
| Other liabilities and charges | 164/5 | €351,434 | €808,509 | +€457,076 | +130.1% |
| Amounts payable | 17/49 | €224,257 | €269,824 | +€45,567 | +20.3% |
| Amounts payable within one year | 42/48 | €130,438 | €176,005 | +€45,567 | +34.9% |
| Current portion of amounts payable after more than one year | 42 | €874 | - | -€874 | |
| Trade debts | 44 | €101,317 | €137,032 | +€35,715 | +35.3% |
| Suppliers | 440/4 | €101,317 | €137,032 | +€35,715 | +35.3% |
| Taxes, remuneration and social security | 45 | €28,246 | €38,973 | +€10,727 | +38.0% |
| Remuneration and social security | 454/9 | €28,246 | €38,973 | +€10,727 | +38.0% |
| Accrued charges and deferred income | 492/3 | €93,819 | €93,819 | = | 0.0% |
| Non-recurring operating income | 76A | €1,242 | - | -€1,242 | |
| Remuneration, social security and pensions | 62 | €274,552 | €370,109 | +€95,557 | +34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,572 | €3,090 | -€4,482 | -59.2% |
| Other operating charges | 640/8 | - | €50 | +€50 | |
| Gross operating margin | 9900 | €398,880 | €830,410 | +€431,530 | +108.2% |
| Operating profit (loss) | 9901 | €83 | €85 | +€2 | +2.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €84 | €85 | +€1 | +1.8% |
| Recurring financial charges | 65 | €84 | €85 | +€1 | +1.8% |
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 10 October 2026 via checked.be.