HERMES TRANS: what changed
Two fiscal 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 TRANS
Largest movements
- Cash +€88,183
up €88,183 (+60.9%), from €144,889 to €233,071
mainly Receivables within one year (+€81,782) and Depreciation (+€20,917)
- Receivables within one year -€81,782
down €81,782 (-34.2%), from €238,989 to €157,207
of which Trade receivables: -€82,265
- Tangible fixed assets -€20,917
down €20,917 (-87.1%), from €24,011 to €3,095
- Current portion of long-term debt -€21,881
down €21,881 (-92.2%), from €23,728 to €1,847
- Reserves +€12,000
up €12,000 (+4.6%), from €261,994 to €273,994
of which Distributable reserves: +€12,000
- Trade debts -€5,072
down €5,072 (-17.8%), from €28,507 to €23,434
- Gross operating margin -€51,324
down €51,324 (-55.5%), from €92,450 to €41,126
- Write-downs -€35,000
no longer reported in 2025 (was €35,000)
- Financial charges -€967
down €967 (-31.7%), from €3,055 to €2,088
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.
Cash bridge derived
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 | €407,888 | €393,372 | -€14,516 | -3.6% |
| Fixed assets | 21/28 | €24,011 | €3,095 | -€20,917 | -87.1% |
| Tangible fixed assets | 22/27 | €24,011 | €3,095 | -€20,917 | -87.1% |
| Leasing and similar rights | 25 | €24,011 | €3,095 | -€20,917 | -87.1% |
| Current assets | 29/58 | €383,877 | €390,278 | +€6,401 | +1.7% |
| Amounts receivable within one year | 40/41 | €238,989 | €157,207 | -€81,782 | -34.2% |
| Trade receivables | 40 | €213,730 | €131,465 | -€82,265 | -38.5% |
| Other amounts receivable | 41 | €25,259 | €25,742 | +€483 | +1.9% |
| Cash at bank and in hand | 54/58 | €144,889 | €233,071 | +€88,183 | +60.9% |
| Total equity and liabilities | 10/49 | €407,888 | €393,372 | -€14,516 | -3.6% |
| Equity | 10/15 | €347,243 | €359,364 | +€12,121 | +3.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Outside capital | 11 | €25,000 | €25,000 | = | 0.0% |
| Share premium | 1100/10 | €25,000 | - | -€25,000 | |
| Other | 1109/19 | - | €25,000 | +€25,000 | |
| Reserves | 13 | €261,994 | €273,994 | +€12,000 | +4.6% |
| Tax-exempt reserves | 132 | €232,494 | €232,494 | = | 0.0% |
| Distributable reserves | 133 | €29,500 | €41,500 | +€12,000 | +40.7% |
| Profit (loss) carried forward | 14 | €60,248 | €60,370 | +€121 | +0.2% |
| Amounts payable | 17/49 | €60,646 | €34,009 | -€26,637 | -43.9% |
| Amounts payable within one year | 42/48 | €60,646 | €34,009 | -€26,637 | -43.9% |
| Current portion of amounts payable after more than one year | 42 | €23,728 | €1,847 | -€21,881 | -92.2% |
| Trade debts | 44 | €28,507 | €23,434 | -€5,072 | -17.8% |
| Suppliers | 440/4 | €28,507 | €23,434 | -€5,072 | -17.8% |
| Taxes, remuneration and social security | 45 | €3,236 | €3,253 | +€17 | +0.5% |
| Remuneration and social security | 454/9 | €3,236 | €3,253 | +€17 | +0.5% |
| Other amounts payable | 47/48 | €5,176 | €5,474 | +€298 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,917 | €20,917 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €35,000 | - | -€35,000 | |
| Other operating charges | 640/8 | €1,109 | €1,099 | -€10 | -0.9% |
| Gross operating margin | 9900 | €92,450 | €41,126 | -€51,324 | -55.5% |
| Operating profit (loss) | 9901 | €35,424 | €19,110 | -€16,314 | -46.1% |
| Financial charges | 65/66B | €3,055 | €2,088 | -€967 | -31.7% |
| Recurring financial charges | 65 | €3,055 | €2,088 | -€967 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €32,369 | €17,022 | -€15,347 | -47.4% |
| Income taxes | 67/77 | €5,118 | €4,901 | -€218 | -4.3% |
| Profit (loss) for the period | 9904 | €27,251 | €12,121 | -€15,129 | -55.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,251 | €12,121 | -€15,129 | -55.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.