HERMIFLAM: 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.
HERMIFLAM
Largest movements
- Cash +€58,273
up €58,273 (+69.6%), from €83,775 to €142,048
mainly Net result for the year (+€259,104) and Tax, wage and social debts (+€30,282)
- Current investments +€32,990
up €32,990 (+2.4%), from €1.4m to €1.4m
- Reserves +€257,438
up €257,438 (+20.1%), from €1.3m to €1.5m
of which Distributable reserves: +€333,218
- Other debts -€166,727
down €166,727 (-61.8%), from €269,749 to €103,022
- Debts after one year -€31,599
down €31,599 (-100.0%), from €31,599 to €0
- Tax, wage and social debts +€30,282
up €30,282 (+38.8%), from €78,105 to €108,387
- Current portion of long-term debt -€21,837
down €21,837 (-40.9%), from €53,436 to €31,599
- Gross operating margin +€106,330
up €106,330 (+36.9%), from €288,214 to €394,543
- Taxes +€17,783
up €17,783 (+15.1%), from €117,848 to €135,631
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 | €1,975,405 | €2,036,711 | +€61,306 | +3.1% |
| Fixed assets | 21/28 | €472,448 | €457,142 | -€15,306 | -3.2% |
| Tangible fixed assets | 22/27 | €57,448 | €42,142 | -€15,306 | -26.6% |
| Furniture and vehicles | 24 | €57,448 | €42,142 | -€15,306 | -26.6% |
| Financial fixed assets | 28 | €415,000 | €415,000 | = | 0.0% |
| Current assets | 29/58 | €1,502,957 | €1,579,569 | +€76,612 | +5.1% |
| Amounts receivable within one year | 40/41 | €32,252 | €32,682 | +€430 | +1.3% |
| Trade receivables | 40 | €32,252 | €32,682 | +€430 | +1.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €1,352,420 | €1,385,411 | +€32,990 | +2.4% |
| Cash at bank and in hand | 54/58 | €83,775 | €142,048 | +€58,273 | +69.6% |
| Deferred charges and accrued income | 490/1 | €34,510 | €19,429 | -€15,081 | -43.7% |
| Total equity and liabilities | 10/49 | €1,975,405 | €2,036,711 | +€61,306 | +3.1% |
| Equity | 10/15 | €1,522,761 | €1,780,199 | +€257,438 | +16.9% |
| Contributions | 10/11 | €245,150 | €245,150 | = | 0.0% |
| Reserves | 13 | €1,277,611 | €1,535,049 | +€257,438 | +20.1% |
| Tax-exempt reserves | 132 | €159,980 | €84,200 | -€75,780 | -47.4% |
| Distributable reserves | 133 | €1,117,631 | €1,450,849 | +€333,218 | +29.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €452,645 | €256,513 | -€196,132 | -43.3% |
| Amounts payable after more than one year | 17 | €31,599 | €0 | -€31,599 | -100.0% |
| Financial debts | 170/4 | €31,599 | €0 | -€31,599 | -100.0% |
| Amounts payable within one year | 42/48 | €404,069 | €245,105 | -€158,963 | -39.3% |
| Current portion of amounts payable after more than one year | 42 | €53,436 | €31,599 | -€21,837 | -40.9% |
| Trade debts | 44 | €2,778 | €2,097 | -€681 | -24.5% |
| Suppliers | 440/4 | €2,778 | €2,097 | -€681 | -24.5% |
| Taxes, remuneration and social security | 45 | €78,105 | €108,387 | +€30,282 | +38.8% |
| Taxes | 450/3 | €78,105 | €108,387 | +€30,282 | +38.8% |
| Other amounts payable | 47/48 | €269,749 | €103,022 | -€166,727 | -61.8% |
| Accrued charges and deferred income | 492/3 | €16,977 | €11,407 | -€5,570 | -32.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,233 | €15,306 | +€73 | +0.5% |
| Other operating charges | 640/8 | €1,356 | €1,394 | +€38 | +2.8% |
| Gross operating margin | 9900 | €288,214 | €394,543 | +€106,330 | +36.9% |
| Operating profit (loss) | 9901 | €271,625 | €377,843 | +€106,218 | +39.1% |
| Financial income | 75/76B | €30,560 | €27,807 | -€2,752 | -9.0% |
| Recurring financial income | 75 | €30,560 | €27,807 | -€2,752 | -9.0% |
| Financial charges | 65/66B | €12,614 | €10,916 | -€1,698 | -13.5% |
| Recurring financial charges | 65 | €12,614 | €10,916 | -€1,698 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €289,571 | €394,735 | +€105,164 | +36.3% |
| Income taxes | 67/77 | €117,848 | €135,631 | +€17,783 | +15.1% |
| Profit (loss) for the period | 9904 | €171,723 | €259,104 | +€87,381 | +50.9% |
| Transfer from tax-exempt reserves | 789 | €210,500 | €75,780 | -€134,720 | -64.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €382,223 | €334,884 | -€47,339 | -12.4% |
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 11 October 2026 via checked.be.