HERMES SPOOR: 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 SPOOR
Largest movements
- Current investments +€101,362
up €101,362 (+205%), from €49,557 to €150,919
- Tangible fixed assets -€48,996
down €48,996 (-14.6%), from €335,724 to €286,728
- Receivables within one year +€17,726
up €17,726 (+903%), from €1,962 to €19,688
- Reserves +€40,478
up €40,478 (+12.1%), from €334,583 to €375,061
- Other debts +€30,000
new in 2025: €30,000
- Gross operating margin +€35,992
up €35,992 (+272%), from €13,212 to €49,205
- Taxes +€9,583
up €9,583 (+4,671%), from €205 to €9,788
- Financial income +€1,660
new in 2025: €1,660
- Financial charges -€601
down €601 (-86.9%), from €692 to €91
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 | €402,412 | €471,908 | +€69,496 | +17.3% |
| Fixed assets | 21/28 | €335,724 | €286,728 | -€48,996 | -14.6% |
| Tangible fixed assets | 22/27 | €335,724 | €286,728 | -€48,996 | -14.6% |
| Land and buildings | 22 | €335,724 | €286,728 | -€48,996 | -14.6% |
| Current assets | 29/58 | €66,688 | €185,180 | +€118,492 | +178% |
| Amounts receivable within one year | 40/41 | €1,962 | €19,688 | +€17,726 | +903% |
| Other amounts receivable | 41 | €1,962 | €19,688 | +€17,726 | +903% |
| Current investments | 50/53 | €49,557 | €150,919 | +€101,362 | +205% |
| Cash at bank and in hand | 54/58 | €15,168 | €14,573 | -€595 | -3.9% |
| Total equity and liabilities | 10/49 | €402,412 | €471,908 | +€69,496 | +17.3% |
| Equity | 10/15 | €398,101 | €438,580 | +€40,478 | +10.2% |
| Contributions | 10/11 | €63,518 | €63,518 | = | 0.0% |
| Capital | 10 | €63,518 | €63,518 | = | 0.0% |
| Issued capital | 100 | €63,518 | €63,518 | = | 0.0% |
| Reserves | 13 | €334,583 | €375,061 | +€40,478 | +12.1% |
| Distributable reserves | 133 | €334,583 | €375,061 | +€40,478 | +12.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €4,310 | €33,328 | +€29,018 | +673% |
| Amounts payable within one year | 42/48 | €205 | €32,578 | +€32,373 | +15,780% |
| Trade debts | 44 | €0 | €2,200 | +€2,200 | |
| Suppliers | 440/4 | €0 | €2,200 | +€2,200 | |
| Taxes, remuneration and social security | 45 | €205 | €378 | +€173 | +84.3% |
| Taxes | 450/3 | €205 | €378 | +€173 | +84.3% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Accrued charges and deferred income | 492/3 | €4,105 | €750 | -€3,355 | -81.7% |
| Other operating charges | 640/8 | €449 | €508 | +€58 | +12.9% |
| Gross operating margin | 9900 | €13,212 | €49,205 | +€35,992 | +272% |
| Operating profit (loss) | 9901 | €12,763 | €48,697 | +€35,934 | +282% |
| Financial income | 75/76B | - | €1,660 | +€1,660 | |
| Recurring financial income | 75 | - | €1,660 | +€1,660 | |
| Financial charges | 65/66B | €692 | €91 | -€601 | -86.9% |
| Recurring financial charges | 65 | €692 | €91 | -€601 | -86.9% |
| Profit (loss) for the period before taxes | 9903 | €12,071 | €50,266 | +€38,195 | +316% |
| Income taxes | 67/77 | €205 | €9,788 | +€9,583 | +4,671% |
| Profit (loss) for the period | 9904 | €11,866 | €40,478 | +€28,612 | +241% |
| Profit (loss) for the period to be appropriated | 9905 | €11,866 | €40,478 | +€28,612 | +241% |
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 26 October 2026 via checked.be.