HERMES TELECOM: 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 TELECOM
Largest movements
- Cash +€86,953
up €86,953 (+424%), from €20,520 to €107,473
mainly Trade debts (+€78,684) and Receivables within one year (+€23,518)
- Receivables within one year -€23,518
down €23,518 (-19.6%), from €120,086 to €96,568
of which Trade receivables: -€23,802
- Trade debts +€78,684
up €78,684 (+169%), from €46,627 to €125,311
- Profit (loss) carried forward -€28,233
down €28,233, from €5,575 to -€22,659
- Tax, wage and social debts +€22,586
up €22,586 (+59.6%), from €37,866 to €60,452
- Other debts -€7,579
down €7,579 (-41.7%), from €18,172 to €10,592
- Turnover +€112,480
up €112,480 (+39.5%), from €284,548 to €397,028
- Purchases and services +€69,573
up €69,573 (+22.8%), from €305,117 to €374,690
- Gross operating margin +€42,412
up €42,412, from -€20,074 to €22,338
- Financial income -€40,398
down €40,398 (-76.9%), from €52,512 to €12,114
of which Financial income: -€40,398
- Taxes +€20,503
up €20,503 (+458%), from €4,473 to €24,975
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 | €190,537 | €255,994 | +€65,458 | +34.4% |
| Fixed assets | 21/28 | €49,930 | €51,952 | +€2,022 | +4.0% |
| Intangible fixed assets | 21 | €9,091 | €9,091 | = | 0.0% |
| Tangible fixed assets | 22/27 | €5,621 | €7,643 | +€2,022 | +36.0% |
| Plant, machinery and equipment | 23 | €2,910 | €7,006 | +€4,095 | +141% |
| Furniture and vehicles | 24 | €1,942 | €0 | -€1,942 | -100% |
| Other tangible fixed assets | 26 | €768 | €637 | -€131 | -17.1% |
| Financial fixed assets | 28 | €35,218 | €35,218 | = | 0.0% |
| Current assets | 29/58 | €140,606 | €204,042 | +€63,436 | +45.1% |
| Amounts receivable within one year | 40/41 | €120,086 | €96,568 | -€23,518 | -19.6% |
| Trade receivables | 40 | €23,802 | €0 | -€23,802 | -100% |
| Other amounts receivable | 41 | €96,285 | €96,568 | +€284 | +0.3% |
| Cash at bank and in hand | 54/58 | €20,520 | €107,473 | +€86,953 | +424% |
| Total equity and liabilities | 10/49 | €190,537 | €255,994 | +€65,458 | +34.4% |
| Equity | 10/15 | €12,872 | -€15,361 | -€28,233 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,098 | €1,098 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,098 | €1,098 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,098 | €1,098 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,575 | -€22,659 | -€28,233 | |
| Amounts payable | 17/49 | €177,664 | €271,355 | +€93,691 | +52.7% |
| Amounts payable after more than one year | 17 | €75,000 | €75,000 | = | 0.0% |
| Financial debts | 170/4 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €102,664 | €196,355 | +€93,691 | +91.3% |
| Trade debts | 44 | €46,627 | €125,311 | +€78,684 | +169% |
| Suppliers | 440/4 | €46,627 | €125,311 | +€78,684 | +169% |
| Taxes, remuneration and social security | 45 | €37,866 | €60,452 | +€22,586 | +59.6% |
| Taxes | 450/3 | €37,866 | €60,452 | +€22,586 | +59.6% |
| Other amounts payable | 47/48 | €18,172 | €10,592 | -€7,579 | -41.7% |
| Turnover | 70 | €284,548 | €397,028 | +€112,480 | +39.5% |
| Goods, raw materials, services and sundry goods | 60/61 | €305,117 | €374,690 | +€69,573 | +22.8% |
| Remuneration, social security and pensions | 62 | €1,091 | €1,921 | +€829 | +76.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,696 | €5,181 | -€14,514 | -73.7% |
| Other operating charges | 640/8 | €7,316 | €4,475 | -€2,841 | -38.8% |
| Non-recurring operating charges | 66A | - | €126 | +€126 | |
| Gross operating margin | 9900 | -€20,074 | €22,338 | +€42,412 | |
| Operating profit (loss) | 9901 | -€48,177 | €10,635 | +€58,812 | |
| Financial income | 75/76B | €52,512 | €12,114 | -€40,398 | -76.9% |
| Recurring financial income | 75 | €52,512 | €12,114 | -€40,398 | -76.9% |
| Non-recurring financial income | 76B | €52,512 | €12,114 | -€40,398 | -76.9% |
| Financial charges | 65/66B | €6,665 | €26,007 | +€19,342 | +290% |
| Recurring financial charges | 65 | €6,665 | €26,007 | +€19,342 | +290% |
| Profit (loss) for the period before taxes | 9903 | -€2,330 | -€3,258 | -€928 | -39.8% |
| Income taxes | 67/77 | €4,473 | €24,975 | +€20,503 | +458% |
| Profit (loss) for the period | 9904 | -€6,803 | -€28,233 | -€21,430 | -315% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,803 | -€28,233 | -€21,430 | -315% |
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 27 October 2026 via checked.be.